Answer:
11.4 years
Step-by-step explanation:
We assume you want to know the time it takes for Lucy's investment of $1200 to have a value of $6400. The compound interest formula is good for finding that.
FV = P(1 +r/n)^(nt)
for principal P invested at rate r per year for t years, compounded n times per year. We want to find t such that ...
6400 = 1200(1 +0.15/4)^(4t)
16/3 = 1.0375^(4t) . . . . divide by 1200
log(16/3) = 4t·log(1.0375) . . . . take logarithms
t = log(16/3)/(4·log(1.0375)) ≈ 11.4
It will take about 11.4 years for Lucy's investment value to be $6400.
The answer to this problem is the letter "A" which is "Multiply by 3, then add 2"
and can be written a N = 3n + 2
At first, we have initial value such n = 1
Then the second value is:
N = 3*1 + 2
N = 5
The third value is:
N = 3*5 + 2
N=17
The next values are:
N = 3*17 + 2
N= 53
The letter "A" is the inductive reasoning to the given sequence.
1-8=1 easy math but heres help
Answer:
$892.50
Step-by-step explanation:
The amount of interest earned is given by ...
I = Prt
Filling in the given values, we have ...
$178.50 = P·0.04·5
Dividing by 0.20 gives ...
$178.50/0.20 = P = $892.50
The principal amount in Kelly's account is $892.50.
