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
Sergeeva-Olga [200]
3 years ago
15

The Johnson family want to start a college fund for their daughter Gabriella. They put $63, 000 in to an account that grows at a

rate of 2.55% per year, compounded quaterly. Given the function G(t)= 63,000(1+ .0255/4)^ 4t, where G(t) represents the amount of money in the account t years after the account is opened, given that no more money is deposited into or withdrawn from the account.
Calculate the number of years it will take for the account to reach approximately $150,000, to the nearest hundredth of a year.
Mathematics
1 answer:
marissa [1.9K]3 years ago
6 0

Answer:

  • 34.13 years

Step-by-step explanation:

<u>Given formula:</u>

  • G(t)= 63000(1 + 0.0255/4)^4t

<u>Need to find the value of t when G(t) = 150000</u>

  • 150000 = 63000( 1+ 0.0255/4)^4t
  • ( 1+ 0.0255/4)^4t = 150000/63000
  • ( 1+ 0.0255/4)^4t = 2.3809
  • 4t* log( 1+ 0.0255/4) = log 2.3809
  • 4t *0.00275983965 = 0.37674115501
  • t = 0.37674115501/(4*0.00275983965)
  • t = 34.13 years rounded

You might be interested in
The shop declare a discount of 20% and later a discount of 15% after
Zolol [24]
Let, the original amount = x
First discount = x * 0.20 = 0.20x

Amount after first discount = x - 0.20x = 0.80x
Second discount = 0.80x * 0.15 = 0.12x

Amount after second discount = 0.80x - 0.12x = 0.68x
Difference would be: x-0.68x = 0.32x

So, Your Answer would be 32%

Hope this helps!
8 0
3 years ago
Solve the equation. Show your work.<br><br> 8x – 12 = 4x + 24
Len [333]
Remember y ou can do anything to an equation as long as you do it to both sides

get 1x by itself

8x-12=4x+24
add 12 to both sides
8x=4x+36
minus 4x from both sides
4x=36
divide both sides by 4
x=9

3 0
3 years ago
Read 2 more answers
The circular play area has a diameter of 16 ft. There is a walkway that surrounds the play area is 3' wide. What is the area of
Monica [59]

Answer: 179 sq. feet

Step-by-step explanation:

brainly.com/question/11852368#readmore

5 0
3 years ago
A polynomial function P(x) with rational coefficients has the given roots. Find two additional roots of P(x)= 0, 7- 5 squared an
galben [10]

Answer:

2 & +2i

Step-by-step explanation:

The two additional roots of the polynomial functions are:

1. 7-5 = 2

2. Irrational root of a polynomial functions are always in pairs, hence

- 2i will have +2i as its pair

4 0
3 years ago
What is the next term if the geometric sequence 192,48,12
VladimirAG [237]

the numbers are being divided by 4 so 12/4 =3

 next number is 3

7 0
3 years ago
Read 2 more answers
Other questions:
  • On friday 1/6 of band pracitce was spent trying on uniforms. the band spent 1/6 of practice on marching, the remaining practice
    10·1 answer
  • What is the average rate of change for the line graphed in the figure above
    15·1 answer
  • How do you know if a rate of change is positive or negative?
    5·1 answer
  • Look at the picture thats where the questions are.​
    14·1 answer
  • Help please lol thankssss
    6·1 answer
  • Prove the sum of two rational numbers is rational where a,b,c and,d are integers and b and d cannot be zero
    12·1 answer
  • What is 3085 divided by 2 with the remainder
    9·2 answers
  • two sides of a triangle measure 20 cm and 30 cm. which of the following could be the measure of the third side.
    12·1 answer
  • Enna has 10 3/4 yards of fabric. She uses 6 2/3 yards to make a banner.
    7·2 answers
  • Pizza prices by city (Data in Pizza prices) The company that sells frozen pizza to stores in four markets in the United States (
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!