Nathan invested $80,000 in an account paying an interest rate of 6% compounded

Mathematics

1 answer:

bija089 [108]2 years ago

8 0

Answer:

Number of year = 13 year and 6 month approx.

Step-by-step explanation:

Given:

Amount invested = $80,000

Rate of interest = 6% compounded continuously

Future value of investment = $175,600

Find:

Number of year

Computation:

Future value of investment = Amount invested[1 + Rate of interest]ⁿ

175,600 = 80,000[1+6%]ⁿ

175,600 = 80,000[1+0.06]ⁿ

175,600 = 80,000[1.06]ⁿ

Number of year = 13.492 year

Number of year = 13 year and 6 month approx.

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Answer:

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Step-by-step explanation:

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5 0

2 years ago

Read 2 more answers

Jessie estimates the weight of her cat to be 10 pounds. The actual weight of the cat is 13.75 pounds. find the percent error.

romanna [79]

Answer:

$\large \boxed{27 \, \%} }$

Step-by-step explanation:

$\begin{array}{rcl}\text{Percent error}&= &\dfrac{\lvert \text{Measured - Actual}\lvert}{ \text{Actual}} \times100 \,\%\\\\& = & \dfrac{\lvert 10 - 13.75\lvert}{13.75} \times 100 \, \% \\\\& = & \dfrac{\lvert -3.75\lvert}{13.75} \times 100 \, \%\\ \\& = & \dfrac{3.75}{13.75} \times 100 \,\%\\\\& = & 0.27 \times 100 \, \%\\& = & \mathbf{27 \, \%}\\\end{array}\\\text{The percent error is $\large \boxed{\mathbf{27 \, \%} }$}$