Write a jingle to advertise

Mathematics

1 answer:

Gennadij [26K]3 years ago

4 0

My Jingle:

Ice cream cake - oh, ice cream cake...

How I love the way you taste...

You melt in my mouth with every bite...

Dreams of you keep me up at night...

Ice cream cake - oh, ice cream cake...

How I love the way you taste.

I hope you like it!

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$\text{Given that }\$7000 \text{ is compounded semiannualy at a rate of }11\% \text{ for 21 years}\\
\\
\text{we know that the amount after t year when compounded is given by}\\
\\
A=P\left ( 1+\frac{r}{n} \right )^{nt}\\
\\
\text{here P is the principal amoount, so }P=7000,\\
\\
\text{r is the interest rate, }r=11\%=0.11\\
\\
\text{n is the number of times in a year, here semiannulay, so }n=2,\\
\\
\text{and t is the time, so }t=21\\
\\
\text{so the amount after 21 years is}$

$A=7000\left ( 1+\frac{0.11}{2} \right )^{2(21)}\\
\\
\Rightarrow A=7000\left ( 1+0.055 \right )^{42}\\
\\
\Rightarrow A=7000\left ( 1.055 \right )^{42}\\
\\
\Rightarrow A\approx 66328.68$

So the amount after 21 years is: $66328.68

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