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]
2 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the amount of money in the account t years after the account is opened, given that no more money is deposited into or withdrawn from the account.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]2 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 river family invested $4300 in a certificate of deposit (cd). The rate of interest is 2.8% compounded yearly. Give the value
alexgriva [62]

Answer:

$722.40

Step-by-step explanation:

2.8% x 4300 = 120.4

120.4 x 6 = 722.40

7 0
3 years ago
Read 2 more answers
Which equation could be used to find the length of the hypotenuse?
suter [353]
The answer would be A because A squared + B squared = C squared which is the hypotenuse.
4 0
3 years ago
F(x) = 5x - 3<br>f(5) =_____​
Vera_Pavlovna [14]

Answer:

22

Step-by-step explanation:

Evaluate!

5(5)-3

25-3

22

6 0
3 years ago
A gallon of latex paint can cover 600 square feet. Maria has a rectangular room whose dimensions are 23 feet by 10 ​feet, with 7
Zolol [24]

Answer: 3,220

Step-by-step explanation: What you do first is find the volume of the room which is 1,610. So after that you multiply 1,610 by 2 since Maria wants "two" coats of paint on each wall.

8 0
3 years ago
Read 2 more answers
Albert was paid $85 for washing
ivann1987 [24]

Answer:

$340

Step-by-step explanation:

85 x 4 = 340.

Because 85 = 1/4, 4/4 = 85 x 4 = 340

8 0
2 years ago
Other questions:
  • What numbers can go into 81 and 200
    9·1 answer
  • Find the length of a line segment with endpoints of 19 and –39. A. –58 B. –20 C. 20 D. 58
    12·2 answers
  • Given: — <br> Xw Is an altitude <br> M Prove: x=12
    9·1 answer
  • Solve the following equation. Round your answer to the nearest thousandth.
    8·1 answer
  • Graph by inequality x+4y=2
    11·1 answer
  • #1) Mrs. Ebanks planted two trees on a
    11·1 answer
  • Help plz you can just find the area not the other part
    13·2 answers
  • Solve : <br>4² ( 4³ )<br>with work shown ​
    14·1 answer
  • What is the equation of the line that is perpendicular to y, =, 1 over 3 x, 4. And contains the point negative 2, negative 5,?.
    8·1 answer
  • Which function is graphed below?
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!