Compare the investment below to an investment of the same principal at the same rate compounded annually.

Mathematics

2 answers:

Margarita [4]3 years ago

7 0

9514 1404 393

Answer:

compounding 6 times per year earns $458.36 more interest over 20 years

Step-by-step explanation:

We can compute the value of the investment for the different compounding schemes. The applicable formula is ...

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

where P is the principal, r is the annual rate, n is the number of interest periods per year, and t is the number of years.

Compounded 6 times per year:

A = $3000(1 +.07/6)^(6·20) ≈ $12,067.41

Compounded 1 time per year:

A = $3000(1.07)^20 ≈ $11,609.05

Marrrta [24]3 years ago

5 0

Answer:

Can you please describe the problem more detailed pls?

You might be interested in

Find the perimeter of the triangle in the picture

topjm [15]

Answer:

6x-8

Step-by-step explanation:

3 0

3 years ago

Read 2 more answers

A regular hexagonal prism has an edge length 12 cm, and height 10 cm. Identify the volume of the prism to the nearest tenth.

Alexeev081 [22]

Check the picture below.

so the volume will simply be the area of the hexagonal face times the height.

$\textit{area of a regular polygon}\\\\ A=\cfrac{1}{4}ns^2\stackrel{\qquad degrees}{\cot\left( \frac{180}{n} \right)}~~ \begin{cases} n=\stackrel{number~of}{sides}\\ s=\stackrel{length~of}{side}\\[-0.5em] \hrulefill\\ n=6\\ s=12 \end{cases}\implies A=\cfrac{1}{4}(6)(12)^2\cot\left( \frac{180}{6} \right) \\\\\\ A=216\cot(30^o)\implies A=216\sqrt{3} \\\\[-0.35em] ~\dotfill\\\\ \stackrel{\textit{area of the hexagon}}{(216\sqrt{3})}~~\stackrel{height}{(10)}\implies 2160\sqrt{3}~~\approx ~~3741.2~cm^3$