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quester [9]
2 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]2 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.

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Answer:

DM=12

Step-by-step explanation:

(Let the point where the altitude from D intersects AB be called as point E.) First, let's find the area of parallelogram ABCD. The area of a parallelogram is simply b*h=bh, where b is the parallelogram's base and h is the parallelogram's height. If we let AB and DE be the base and height respectively, since we are already given their lengths, we know that the area of parallelogram ABCD will be AB*DE=15*8=120.

Now, how does this information matter, you might ask? Well, we can take either AB <em>or </em>CB to be the base and either DE or DM to be the height. In this case, let's take the latter two options, as we are looking to find the length of DM.

Therefore, we know that the area of parallelogram ABCD can also be found by calculating CB*DM. Since we know the values of the area and CB, we can write the following equation to solve for DM:

Area = CB*DM

120=10*DM (Substitute Area=120 and CB=10 into the equation)

\frac{120}{10}=\frac{10*DM}{10} (Divide both sides of the equation by 10 to get rid of DM's coefficient)

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Hope this helps!

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How to do this problem I have
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