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
quester [9]
3 years ago
11

Carter invested $16,000 in an account paying an interest rate of 5.6% compounded monthly. Assuming no deposits or withdrawals ar

e made, how long would it take, to the nearest year, for the value of the account to reach $29,600?
Mathematics
1 answer:
jenyasd209 [6]3 years ago
8 0

Answer:

11 years.

Step-by-step explanation:

Given that Carter invested $ 16,000 in an account paying an interest rate of 5.6% compounded monthly, to determine, assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $ 29,600, the following calculation must be performed:

16,000 x (1 + 0.056 / 12) ^ Yx12 = 29,600

Y = 11

16,000 x 1.4666 ^ 132 = X

29,581.70 = X

Thus, rounded to the nearest year, it would take 11 years for the account to reach $ 29,600.

You might be interested in
3 lines are shown. A line with points C, A, F intersects a line with points B, A, E at point A. A line extends from point A to p
JulsSmile [24]

Answer:

A   45

Step-by-step explanation:

edge 2020

6 0
3 years ago
Read 2 more answers
For what integer value of x is 3x+5>11 and x-3 <1?
Andre45 [30]
3x + 5 > 11
3x + (5 - 5) > 11 - 5 
3x > 6
3x / 3 > 6 / 3
x > 2

x - 3 < 1
x (-3 + 3) < 1 + 3
x < 4

When subtracting / adding values to both sides, the inequality does not change.

When multiplying / dividing by a positive value, the inequality also doesn't change, but when multiplying , dividing with a negative value, the inequality must be flipped.
7 0
3 years ago
PLZ ANSWER!!! IF YOU ANSWER U GET 20 POINTS<br> Find |-65|.<br><br> 0<br> 65<br> -65
iogann1982 [59]
65 Bc absolute value of negative is positive
3 0
3 years ago
Read 2 more answers
Determine whether each question is biased. Explain your answer. please help!!
LenKa [72]
I’m having a hard time understanding your question
3 0
3 years ago
2(x - 2) = -4x + 44 what does x equal
Komok [63]
2(x - 2) = -4x + 44

First, expand. / Your problem should look like: 2x - 4 = -4x + 44
Second, add 4 to both sides. / Your problem should look like: 2x = -4x + 44 + 4
Third, simplify -4x + 44 + 4 to get -4x + 48. / Your problem should look like: 2x = -4x + 48
Fourth, add 4x to both sides. / Your problem should look like: 2x + 4x = 48
Fifth, add 2x + 4x to get 6x. / Your problem should look like: 6x = 48
Sixth, divide both sides by 6. / Your problem should look like: x =  \frac{48}{6}
Seventh, simplify \frac{48}{6} to 8. / Your problem should look like: x = 8

Answer: x = 8

5 0
3 years ago
Read 2 more answers
Other questions:
  • Find the volume of the cylinder in terms of pi.
    13·2 answers
  • Find the slope and the y-intercept of the equation y − 3(x − 1) = 0.
    11·2 answers
  • juan's mother gave him a recipe for trail mix 3/4, 1/4, 2/3, 1/2, order the ingredients from least to gratest
    11·2 answers
  • Ten boys share 7 cereal bars equally.What fraction of a cereal bar does each boy get?
    12·1 answer
  • Skydiver falls 144 feet in three seconds . how far does the skydiver fall per second
    13·2 answers
  • Solve the following equation. w – 2 = –3 A. w = negative three-halves B. w = –5 C. w = –1 D. w = 6
    5·1 answer
  • —4x + 2y + z — 3x + 2y — 2z
    13·1 answer
  • What are the answers ( with all work shown )
    5·1 answer
  • Question 2<br> Which of the following is not shown on the scatter plot below?
    8·1 answer
  • 10x &gt; 14x + 8 (find the value of x)
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!