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
PSYCHO15rus [73]
3 years ago
14

If you invest $1,200 into an account with an interest rate of 8%, compounded monthly, about how long would it take for the accou

nt to be worth $12,000?
Mathematics
1 answer:
inessss [21]3 years ago
6 0

Answer:

n= 346.37 months

Step-by-step explanation:

Giving the following information:

Initial investment (PV)= $1,200

Number of periods (n)= ?

Interest rate (i)= 0.08 / 12= 0.00667

Future Value (FV)= $12,000

<u>To calculate the number of months required to reach the objective, we need to use the following formula:</u>

n= ln(FV/PV) / ln(1+i)  

n= ln(12,000 / 1,200) / ln(1.00667)

n= 346.37 months

In years:

346.37/12= 28.86 years

You might be interested in
Which of the following trigonometric ratios are correct?
notka56 [123]

9514 1404 393

Answer:

  D, F

Step-by-step explanation:

The mnemonic SOH CAH TOA can help you with this. It reminds you ...

  Sin = Opposite/Hypotenus

  sin(40°) = x/b . . . . matches D

  Cos = Adjacent/Hypotenuse

<em>   cos(40°) = a/b . . . . no match</em>

  Tan = Opposite/Adjacent

  tan(40°) = x/a . . . . matches F

8 0
3 years ago
A salesman needed to sell a used car. He priced it at $4,500 the first day it was on the
Akimi4 [234]

Answer:

$3960

Step-by-step explanation:

12% of $4,500 is 540.

Subtracting the 12% means taking away $540 from $4,500, which gives you $3960

7 0
3 years ago
Can someone help me on this ? its Algebra 1 on exponents
Svetradugi [14.3K]
The volume of a rectangular prism is its length times width times height, or algebraically, V=lwh. You may be used to computing volume with numbers, but remember, a variable is a stand-in for a number. So you can solve this in the same way. Substitute l=x, w= \frac{x}{2},h= \frac{x}{3} into the formula for volume. You get (x)( \frac{x}{2})( \frac{x}{3} ), and you multiply these factors together. As you would with ordinary fractions, multiply the numerators and denominators across. You get \frac{(x)(x)(x)}{(1)(2)(3)} =  \frac{x^3}{6}. It seems that the book wants you to simplify by bringing the 6 up to the denominator. Recall the rule x^{-n}= \frac{1}{x^n}, if n is non-negative. The opposite applies so that \frac{1}{6} = 6^{-1}. For your final answer, you write 6^{-1}x^3. This corresponds to answer choice B.
3 0
3 years ago
A recipe for 1 loaf of banana bread uses 34 cup of bananas.
jonny [76]

Answer: yes

Step-by-step explanation:

Each loaf uses 34 cups

1 loaf 114-34= 80 cups left

2nd loaf 80-34= 46 cups left

4 0
3 years ago
HELP I WILL GIVE BRAINLIEST<br> The first picture with a bunch of numbers is the data set
anzhelika [568]
Beijing is the beijjng

8 0
3 years ago
Other questions:
  • Ms. Moore is purchasing a house and needs to finance a $150,000 mortgage from the bank with an annual percentage rate (APR) of 3
    15·1 answer
  • julia anits 2-6 of a wall in her room white. she aints more of the wall green.which frction could show the art of the wall that
    6·1 answer
  • Solving polynomial equations<br><img src="https://tex.z-dn.net/?f=6%20%7Bx%7D%5E%7B2%7D%20%3D%2048x" id="TexFormula1" title="6 {
    9·1 answer
  • Three numbers a, b and c form an arithmetic sequence. The numbers b, c and a form a geometric sequence. Find the three numbers g
    6·1 answer
  • Solve the equation. <br> q − 11 = 16
    6·2 answers
  • Jose has scored 726 points on his math tests so far this semester. To get an A for the semester, he must score at least 767 poin
    12·1 answer
  • Use the functions f (x)= –x^2 + 8x – 11, g(x) = 14 - 2/3x,and h(x) = -x – 7 to find each function value.
    15·1 answer
  • Justin earned $50 mowing yards and $19 washing cars. He wants to divide his money into 3 equal accounts.How much will he put in
    9·1 answer
  • Please help i keep getting this wrong
    5·2 answers
  • What's 2+2?
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!