1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anastaziya [24]
3 years ago
7

1) James needs to obtain $80,000 for his daughter's future college tuition. He is looking to invest in an

Mathematics
1 answer:
Mazyrski [523]3 years ago
3 0

Answer:

$ 50,340.97

Step-by-step explanation:

From the above question, we can deduce that we are to find the Initial amount invested which is also called the Principal.

The formula to find Principal in a compound interest question is:

P = A / (1 + r/n)^nt

Where:

A = Total Amount obtained after invested = $80,000

r = Interest rate = 3.1% = 0.031

n = number of times interest in compounded = Quarterly = 4

t = time in years = 15

P = $80,000/(1 + 0.031/4)^4 × 15

P = $80,000/(1 +0.00775)^60

P = $ 50,340.97

Hence, James would have to invest $50,340.97 today to have $80,000 in 15 years.

You might be interested in
What is the slope of a line that passes through (-4,-13) and (19,11)?
raketka [301]
We can find the slope from the two given points using the standard formula:
m=\frac{y_{2}-y_{1}}{x_{2}-x_{1}}
m=\frac{11-(-13)}{19-(-4)}
m=\frac{24}{23}
7 0
3 years ago
Whats the volume?<br><br> B= 37.6 cm²; h= 20 cm
Georgia [21]

Answer:

752 cm^3

Step-by-step explanation:

Find the volume with: base x length x height

37.6 x 20 = 752

8 0
3 years ago
6⁄10 _______ 9⁄12 A. &gt; B. ≤ C. = D.
Ivanshal [37]
6/10 is equal to 0.60
9/12 is equal to 0.75
your answer is not above for D but if D is < then that would be the correct answer :)
7 0
3 years ago
Read 2 more answers
In the diagram below, a right circular cone with a radius of 3 inches has a slant height of 5 inches, and a right cylinder with
Westkost [7]

this is the correct answer

5 0
3 years ago
For how many values of x does the graph f(x)= x^2 -3 intersects the x-axis?
anzhelika [568]

Answer:

cocomelon . 3/5 - 4

Step-by-step explanation:

6 0
2 years ago
Read 2 more answers
Other questions:
  • Through:(5,0), parallel to y=4/5x-3
    11·2 answers
  • Write and equation ( and maybe solve) please!
    8·1 answer
  • The equation of a circle is (X-3)² + (Y+5)²=25
    15·1 answer
  • Perry made $34,885 this year. If the inflation rate was 6.5 percent, how much was his salary actually worth? (purchasing power)
    5·1 answer
  • 3.
    14·1 answer
  • The first three terms of an arithmetic sequence are as follows.
    12·1 answer
  • Need help please explain
    10·1 answer
  • You want to arrive at baseball practice before 4:30pm. The drive is 15 minutes. Write the equation or inequality to determine wh
    14·1 answer
  • What is the median of the ages in this stem-and-leaf plot?
    15·2 answers
  • Hi i need help fastttttttttttttt
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!