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
Dahasolnce [82]
2 years ago
14

Suppose you buy a CD for $300 that earns 3% APR and is compounded quarterly. The CD matures in 3 years. How much will this CD be

worth at maturity? A. $309.12 B. $309.10 C. $328.14 D. $303.01
Mathematics
2 answers:
andrew-mc [135]2 years ago
7 0

Given: Principal Amount (P) = $300

The rate of interest (r) = (3/4) compounded quarterly.

No. quarters in 3 years (n) = 3×4 = 12

To find: The amount for the CD on maturity. Let it will be (A)

Formula: Compound Amount (A) = P [ 1 + (r ÷100)]ⁿ

Now,   (A) = P [ 1 + (r ÷100)]ⁿ

or,            = $300 [ 1 + (3 ÷400)]¹²

or,            = $300 × [ 403 ÷ 400]¹²

or,            = $300 × 1.0938069

or,            = $ 328.14

Hence, the correct option will be C. $328.14

ololo11 [35]2 years ago
4 0

Answer:

C. $328.14

Step-by-step explanation:

We have been given that you bought a CD for $300 that earns 3% APR and is compounded quarterly. The CD matures in 3 years.

To find the value of CD at maturity, we will use compound interest formula.

A=P(1+\frac{r}{n})^{n\cdot t}, where,

A = Final amount after t years,

P = Principal amount,

r = Annual interest rate in decimal form,

n = Number of times interest in compounded per year.

t = Time in years.

3\%=\frac{3}{100}=0.03

Substitute the given values:

A=300(1+\frac{0.03}{4})^{4\cdot 3}

A=300(1+0.0075)^{12}

A=300(1.0075)^{12}

A=300*1.0938068976709831

A=328.14206930129493

A\approx 328.14

Therefore, the CD will be worth $328.14 at maturity.

You might be interested in
PLS HELP WILL GIVE BRAINLIEST :)
Rus_ich [418]

Step-by-step explanation:

the slope intercept form is

y = ax + b

"a" being the slope, "b" being the y- intercept (which is the y-value when x = 0).

the slope here :

in the table x is always increasing by 2.

and y is always investing by 1.

so, the slope is 1/2

the y-intercept :

we need to find the y-value for x = 0.

but we don't have a data point with x = 0 in the table.

so, we have to extend the structure of the table to the left.

x decreases by 2 (making it 0), and y decreases by 1 (making it -1).

therefore, the y- intercept (b) is -1.

and the line equation is

y = (1/2)x - 1

not sure about "the other method".

there is the point-slope form of the equation :

y - y1 = a(x - x1)

again with "a" begin the slope, and (x1, y1) being a point on the line.

if we get the y-intercept in the table, then this point is (0, y1).

and the equation would be

y - y1 = ax

in our case

y + 1 = (1/2)x

and another method ?

sometimes people write

nx + my = c

in our case starting with the original equation

y = (1/2)x - 1

2y = x - 2

-x + 2y = -2

x - 2y = 2

6 0
2 years ago
The graph illustrates a normal distribution for the prices paid for a particular model of HD television. The mean price paid is
marysya [2.9K]

Answer:

(a) 0.14%

(b) 2.28%

(c) 48%

(d) 68%

(e) 34%

(f) 50%

Step-by-step explanation:

Let <em>X</em> be a random variable representing the prices paid for a particular model of HD television.

It is provided that <em>X</em> follows a normal distribution with mean, <em>μ</em> = $1600 and standard deviation, <em>σ</em> = $100.

(a)

Compute the probability of buyers who paid more than $1900 as follows:

P(X>1900)=P(\frac{X-\mu}{\sigma}>\frac{1900-1600}{100})

                   =P(Z>3)\\=1-P(Z

*Use a <em>z</em>-table.

Thus, the approximate percentage of buyers who paid more than $1900 is 0.14%.

(b)

Compute the probability of buyers who paid less than $1400 as follows:

P(X

                   =P(Z

*Use a <em>z</em>-table.

Thus, the approximate percentage of buyers who paid less than $1400 is 2.28%.

(c)

Compute the probability of buyers who paid between $1400 and $1600 as follows:

P(1400

                              =P(-2

*Use a <em>z</em>-table.

Thus, the approximate percentage of buyers who paid between $1400 and $1600 is 48%.

(d)

Compute the probability of buyers who paid between $1500 and $1700 as follows:

P(1500

                              =P(-1

*Use a <em>z</em>-table.

Thus, the approximate percentage of buyers who paid between $1500 and $1700 is 68%.

(e)

Compute the probability of buyers who paid between $1600 and $1700 as follows:

P(1600

                              =P(0

*Use a <em>z</em>-table.

Thus, the approximate percentage of buyers who paid between $1600 and $1700 is 34%.

(f)

Compute the probability of buyers who paid between $1600 and $1900 as follows:

P(1600

                              =P(0

*Use a <em>z</em>-table.

Thus, the approximate percentage of buyers who paid between $1600 and $1900 is 50%.

8 0
2 years ago
A circle has a radius of 17 mm. An arc length of the circle is 30 mm. What is the area of the sector that is bound by the arc
nikklg [1K]

Answer:

255mm squared

Step-by-step explanation:

it is true i got it wrong and found out the hard way

7 0
2 years ago
Read 2 more answers
Translate (-5,-3) and then reflect over the x-axis
katrin2010 [14]
Would it be (5,3) reflected?
5 0
3 years ago
PLEASE HELP
Anastasy [175]

Answer:

the answer is 67 coins are not Nickels

Step-by-step explanation:

29+24+16=67 so there is 27 Nickels in the jar

4 0
2 years ago
Other questions:
  • Find the surface area of the shape below
    10·1 answer
  • HELP PLEASE!!!! PLZ!!!
    11·1 answer
  • When viewed from the front, the rope used to tie down a tent forms a pair of supplementary angles with the ground. Find m abc​
    15·1 answer
  • Which statement about this figure is true?
    8·2 answers
  • Please help, ASAP! Thank you! 10 points!! ;)
    10·1 answer
  • The tape diagram represents an equation.​
    11·1 answer
  • 1. Find the equation of each of the straight line graphs that passes through the given
    14·1 answer
  • 3,15,75,375 9th term
    12·1 answer
  • Blueberry frozen yogurt costs $0.59 per ounce. How much would 3 ounces cost?
    7·1 answer
  • Darryl uses a 56N force to push a boulder off a cliff that is 425m tall. What is the work done on the boulder? Show your work.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!