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Maslowich
2 years ago
15

Landon is going to invest in an account paying an interest rate of 4.3% compounded continuously. How much would Landon need to i

nvest, to the nearest hundred dollars, for the value of the account to reach $11,300 in 14 years?
Mathematics
2 answers:
Mazyrski [523]2 years ago
5 0

Answer:

$ 6,189.18

Step-by-step explanation:

From the above question, we can deduce that we are meant to find the Principal (Initial Amount ) invested.

The formula for the Principal of a compound interest that is compounded continuously is given as:

P = A / e^rt

Where

P = Principal

A = Totally Amount after time t = $11,300

r = Interest rate = 4.3 % = 0.043

t = 14 years

P = $11,300/ e ^0.043 × 14

P = $ 6,189.18

Hence, Landon needs to invest, $ 6,189.18

Nata [24]2 years ago
3 0

Answer:

6200

Step-by-step explanation:

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6 0
2 years ago
A card is randomly chosen from the cards in the image. Find the probability of choosing the cards with either Q or R on them.
Afina-wow [57]

The probability of choosing cards either Q or R when a card is drawn from a deck of 8 cards is 0.25.

Given that a card is randomly chosen from 8 cards shown in figure.

We have to calculate the probability of choosing either Q or R when a card is drawn from those 8 cards.

Probability means calculating the likeliness of happening an event among all the events possible. It lies between 0 and 1. It cannot be negative.

Number of cards=8

Number of repeated cards=0

Number of cards showing Q and R =1 each.

Probability of getting Q or R is P(X=Q)+P(X=R)

= 1/8+1/8

=2/8

=1/4

=0.25

Hence the probability of getting either P or Q when a card is drawn from 8 cards is 0.25.

Learn more about probability at brainly.com/question/24756209

#SPJ1

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2 years ago
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