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rusak2 [61]
3 years ago
6

You deposit $3000 into an account that pays 4.8% interest, compounded monthly. A) What is the value of the account after 5 years

?B) How long will it take for the value of the account to reach $6000?
Mathematics
1 answer:
Snezhnost [94]3 years ago
8 0

Answer:

14.4 years (about 14 years 6 months)

Step-by-step explanation:

Given data

Principal= $3000

Rate= 4.8%

A. Time= 5 years

The expression for compound interest is

A=P(1+r)^t

Substitute

A= 3000(1+0.048)^5

A= 3000(1.048)^5

A=3000*1.264

A=$3792

Hence the balance will be $3792

B. Final Amount A = $6000

The expression to find time is given ast

t= ln(A/P) / r

substitute

t= ln(6000/3000)/0.048

t= ln2/0.048

t= 0.6931/0.048

t=14.43

Hence the time is 14.4 years (about 14 years 6 months)approx

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The common part does not exist.

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4 years ago
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Answer:

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Step-by-step explanation:

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substitute

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5 0
3 years ago
Someone help me with these questions pls-
Andrews [41]

When finding the reciprocal, it is basicaly flipping the numerator and denominator of the number. For instance, the reciporcal of 2 is 1/2, because the denominator of 2 would be 1. For an example more straight forward, the reciporacle of 3/5 is 5/3. This applied to the question goes as followed.

1. 3/5 is 5/3

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3. 1 is 1

Similarly when dividing fractions or an integer to a fraction, the fraction that is dividing the number turns into the reciprocal then you would multiply.

4.   3/(3/4) is 3*4/3= 4

5.   5/(3/4) is 5*(4/3)= 20/3

6.   8/(4/7) is 8*(7/3)= 56/3

7. 6/(3/5) is 6*(5/3)= 10

8. 2/(5/8) is 2*(8/5)= 16/5

9. 4/(8/9) is 4*(9/8)= 9/2

8 0
2 years ago
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After driving 152 ​km, 4/5 of a trip is completed. How long is the total​ trip? How many more kilometers must be driven to compl
nikitadnepr [17]

Answer:

1. Total Trip Distance = 190 kilometers

2. To complete the trip, 38 more kilometers left


Step-by-step explanation:

1.

Let total trip be x kilometers.

So we can say

<em>"152 is \frac{4}{5} of total" --- this into equation is:</em>

152=\frac{4}{5}x\\x=\frac{152}{\frac{4}{5}}\\x=190


Total trip is 190 km.


2.

Since already driven 152, to complete 190, you have to drive  190-152=38 kilometers more.

So, 38 more kilometers to complete the trip.

7 0
4 years ago
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