Select the correct answer.

If $1000 is invested in an account earning 3% compounded monthly, how long will it take the account to grow in value to $1500? R

My name is Ann [436]

Answer:

14 months

Step-by-step explanation:

1 month) 1.03(1000) = 1030

2 months) 1030(1.03) = 1060.9

3 months) 1060.9(1.03) = 1092.727

4 months) 1092.727(1.03) = 1125.50881

5 months) 1125.50881(1.03) = 1159.2740743

6 months) 1159.2740743(1.03) = 1194.05229653

7 months) 1194.05229653(1.03) = 1229.87386542

8 months) 1229.87386542(1.03) = 1266.77008139

9 months) 1266.77008139(1.03) = 1304.77318383

10 months) 1304.77318383(1.03) = 1370.01184302

11 months) 1370.01184302(1.03) = 1411.11219831

12 months) 1411.11219831(1.03) = 1453.44556426

13 months) 1453.44556426(1.03) = 1497.04893119

14 months) 1497.04893119(1.03) = 1541.96039912

I multiplied them all by 1.03 because 0.03 is 3% but if I multiplied the numbers by 0.03 it would give me 3% of that number instead of increasing it by 3% so by doing 1.03 x the number I am adding the 3% onto the number

3 0

3 years ago

How will ik when I die

PtichkaEL [24]

Answer:

You won't.

Step-by-step explanation:

Statistically, nobody knows when they will die; even those with a sickness. Death always comes as a surprise.

5 0

3 years ago

Read 2 more answers

Graph y-3=1^2(x+2) on a sheet of paper please

VARVARA [1.3K]

Y-3=1^2(x+2) (distribute 1^2) y-3=x+2 (add 3 to both sides)y=x+5your y intercept is 5 and your slope is 1

8 0

3 years ago

Students are given 3 minutes to complete each multiple-choice question on a test and 8 minutes for each free-response question.

SpyIntel [72]

Let

x------> the number of multiple choice question

y------> the number of free response question

we know that

$3x+8y=55$ -----> equation A

$x+y=15$

$x=15-y$ -----> equation B

Substitute equation B in equation A

$3[15-y]+8y=55$

$45-3y+8y=55$

$5y=55-45$

$5y=10$

$y=2$

Find the value of x

$x=15-y$

$x=15-2=13$

therefore

<u>the answer is</u>

the number of multiple choice question are $13$

the number of free response question are $2$

5 0

3 years ago

Read 2 more answers

When a farmer harvests apples he expects 6% of the apples to be rotten how many apples would the farmer expect to be rotting whe

guapka [62]

The question is incomplete had the number of harvested apples isn't given.

Answer:

0.06n

Step-by-step explanation:

When a farmer harvests apples he expects 6% of the apples to be rotten how many apples would the farmer expect to be rotting when harvesting apples

The expected percentage of rotten apples when harvesting = 6%

The expected number of rotten apples can be obtained by taking the product of the expected percentage and the number of apples to be harvested.

Since the number of harvested apples isn't given,

Let the number of harvested apples = n

Therefore, the expected number of rotten apples will be :

6% * n

0.06n

Note : you can easily substitute the actual number of harvested apples for n in the equto get the actual answer

8 0

2 years ago