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
Westkost [7]
3 years ago
14

Kaylee invested $860 in an account paying an interest rate of 6 1/8% compounded annually. Gabriel invested $860 in an account pa

ying an interest rate of 6 1/2% compounded continuously. To the nearest dollar, how much money would Kaylee have in her account when Gabriel's money has tripled in value?
Mathematics
1 answer:
gogolik [260]3 years ago
5 0

Answer:

$2415

Step-by-step explanation:

Compound interest :

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

n = number of compounding times per period

A = final amount ; P = initial investment

For account compounded continuously :

A = Pe^it

i = interest ; t number of years ;

Gabriel:

P = $860 ; i = 6 1/2 % = 13/2% = 0.065

When P triples ; A = 860 * 3 = 2580

2580 = 860*e^0.065t

2580/860 = e^0.065t

3 = e^0.065t

Take In

In(3) = 0.065t

1.0986122 = 0.065t

t = 1.0986122 / 0.065

t = 16.90 years

Kaylee's account at t = 16.90 years

Number of months = 16. 9 * 12 = 202.8 = 203

Rate = 6 1/8% = 6.125% = 0.06125

A = 860(1 + 0.06125 / 12)^202.8

A = 860(1 + 0.0051041) ^202.8

A = 860(1.0051041)^202.8

A = 860 * 2.8080176

A = 2414.8951

A = $2415

You might be interested in
A rectangular piece of cardboard is 16y cm long and 23 cm wide. Four square pieces of cardboard whose sides are 6y cm each are c
Anna11 [10]

Answer:

Area of remaining cardboard is 224y^2 cm^2

a + b = 226

Step-by-step explanation:

The complete and correct question is;

A rectangular piece of cardboard is 16y cm long and 23y cm wide. Four square pieces of cardboard whose sides are 6y cm each are cut away from the corners. Find the area of the remaining cardboard. Express your answer in terms of y. If your answer is ay^b, then what is a+b?

Solution;

Mathematically, at any point in time

Area of the cardboard is length * width

Here, area of the total cardboard is 16y * 23y = 368y^2 cm^2

Area of the cuts;

= 4 * (6y)^2 = 4 * 36y^2 = 144y^2

The area of the remaining cardboard will be :

368y^2-144y^2

= 224y^2

Compare this with;

ay^b

a = 224, and b = 2

a + b = 224 + 2 = 226

3 0
3 years ago
Which would most likely be graphed using a continuous graph? Check all that apply. (Medal for correct answer.
zlopas [31]
We need an image to be able to answer this question

7 0
3 years ago
The governor of state A earns 50, 440 more than the governor of state B. If the total of their salaries is $283,910, can you fin
WITCHER [35]
Use what we know to make equations in order to solve for each governor's salary.
A=governor of state A
B=governor of state B
A+b=283,910. (Their salaries combined)
A=B+50,440 (A earns 50,440 more than B)
Sub A into the original formula to solve for B
B+50,440+b=283,910
2B=283,910-50,440
2B=233,470
B=116,730
Sub B into the formula that's equal to A
A=B+50,440
A=116,735+50,440
A=167,175
I hope this helps!
4 0
3 years ago
Pls answer the question important
Sladkaya [172]

Step-by-step explanation:

no they are not parallel

4 0
3 years ago
Read 2 more answers
Triangle abc is a right triangle. One of the acute angles is (3x+20)and the other is (3x+10) find the value of x
sasho [114]

Answer:

x=10

Step-by-step explanation:

90+3x+10+3x+20=180

-90      -10      -20   -120

combine like terms

6x=60

x=10

5 0
3 years ago
Other questions:
  • Will an overdraft occur if Paul's bank credits deposits before it posts checks?
    12·1 answer
  • Be Fit Exercise Company marks up their inventory by 50%.
    5·1 answer
  • kai calculates that he spends 15% of a school day in science class. If he spends 75 minutes in science class, how many minutes d
    8·1 answer
  • Points B, O, and Y are collinear on BY, and BO:OY = 1/3. B is located at (4,-2), O is located at
    9·1 answer
  • What property is illustrated in the equation 15•1=15
    15·2 answers
  • AX and EX are secant segments that intersect at point X. Circle C is shown. Secants A X and E X intersect at point X outside of
    6·2 answers
  • You have to catch the bus at 11:15am for a movie! It
    15·2 answers
  • Who listens to this if you do just answer or do this <3
    14·2 answers
  • the value of an investment decreased by 10%. The original amount of the investment was $75 what is the current value of the inve
    10·1 answer
  • Emily has a bag of 20 fruit flavour sweets. 7 of the sweets are strawberry flavour, and 11 are lime flavour.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!