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Marrrta [24]
2 years ago
5

You deposit $8500 in an account that pays 1.78% annual interest. Find the balance after 10 years when the interest is compounded

Mathematics
2 answers:
Feliz [49]2 years ago
8 0

Step-by-step explanation:

step 1. let's call the balance A, the initial amount P, the yearly rate r, the number of compounds yearly n, and the time t.

step 2. A = P(1 + r/n)^(nt) (compounding equation)

step 3. A = 8500(1 + .0178/12)^((12)(10))

step 4. A = 8500(1.00148334)^120

step 5. A = $10,154.68.

KiRa [710]2 years ago
6 0

Answer:  The  answer is $10,154.68.

Step-by-step explanation:

Just took the exam for English eleven

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Answer:

The hourly pay for the lifeguards in 2001 was of $6.31.

Step-by-step explanation:

The hourly pay, in dollars, in t years after 1995, is given by the following equation:

P(t) = 5.60(1.02)^{t}

What was the hourly pay for the lifeguards in 2,001?

2001 is 2001 - 1995 = 6 years after 1995. So this is P(6).

P(t) = 5.60(1.02)^{t}

P(6) = 5.60(1.02)^{6} = 6.31

The hourly pay for the lifeguards in 2001 was of $6.31.

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3 years ago
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Answer:

24

Step-by-step explanation:

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7 0
2 years ago
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Step-by-step explanation:

We need to find the value of the function at the indicated value.

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To find f(-7), put x = -7 in the given function

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Hence, this is the required solution.

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2 years ago
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