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
Veronika [31]
3 years ago
6

Andrew is saving up money for a down payment on a car. He currently has $3355, but knows he can get a loan at a lower interest r

ate if he can put down $4045. If he invests the $3355 in an account that earns 3.7% annually, compounded monthly, how long will it take Andrew to accumulate the $4045? Round your answer to two decimal places, if necessary.
Mathematics
1 answer:
Rufina [12.5K]3 years ago
3 0

Answer:

5.06 years or 60.75 months

Step-by-step explanation:

Compound interest formula:

AV=PV(1+\frac{i}{n})^{n*t}\\4045=3355(1+\frac{.037}{12})^{12t}\\1.025=(1.003)^{12t}\\log1.025_{1.003}=12t\\60.75=12t\\5.062

5.06 years or 60.75 months

You might be interested in
I need help for all of this problems!
Harlamova29_29 [7]
A) All triangles add up to 180° so when given two angles, add those up and subtract them from 180° . That will give you the missing angle.

3-5) When you do A above, and receive the measurement of angle 1, it will also equal 2 and you can repeat A for missing angle 3

6-8) Find the missing angle next to 1, and then subtract that from 180°. That number is the answer for 1. 2 is 55 as its a complimentary (i think thats the right term) angle. Which means it is on the opposite side of an angle. I don't remember how to find 3 however, its been a few years since I've done triangles.
4 0
4 years ago
P^2 - 17p + 72 factor the trinomial. enter smaller number first ? answer (p+?)(p+?)
klio [65]

Answer:

(p - 8)(p - 9)

Step-by-step explanation:

We need  2 numbers whose product is + 72 and whose sum = -17.

They are -8 and -9


3 0
3 years ago
A motorboat left a harbor and traveled to an island at an average rate of 10 knots. The average speed on the return trip was 10
Illusion [34]

Answer:

A on edu2020

Step-by-step explanation:

5 0
4 years ago
How do you solve for 5/6w = 2/3 (the answer is w= 4/5) I just don’t know how to show it.
Readme [11.4K]

Answer:

5/6w=2/3

5/6(4/5)=2/3

20/30=2/3

20/30=10/15=2/3=2/3

Proof:

5/6w=2/3

6/5*5/6w=2/3*6/5

30/30w=2/3*6/5

w=12/15=4/5

Hope this helps ;) ❤❤❤

6 0
3 years ago
ASAP SOMEONE HELP ME PLZ
Citrus2011 [14]
Ok so you find the area of the yellow and the red and the area of the yellow you subtract it with the area aid the red that should give you the correct answer
5 0
3 years ago
Other questions:
  • If f(x) = (1/(x-3)) and g(x) = x2 – 3x, then (f + g)(1) =
    12·1 answer
  • Addison studies a tarantula that is 30 millimeters long. Suppose she uses a microscope to magnify the spider by 400 how long wil
    6·2 answers
  • For the function y=-2x^2+4x+1, what are the coordinates of the vertex? Is it a maximum or minimum point? Hint: use the vertex/ax
    7·1 answer
  • Is the following expression true or false? Show your work.
    13·1 answer
  • What is the area of a right triangle 21 centimeters wide and 13 centimeters tall?
    12·2 answers
  • Type the missing numbers in this sequence:<br><br> 31, , , 58, 67, 76
    12·1 answer
  • What is the simplified form of √45
    12·1 answer
  • Can someone please help me graph this I really need help and I’m really confused !!
    10·1 answer
  • The price of an item in a shopping cart is c dollars. If the sales tax on the item is 9%, and the expression c + 0.09c represent
    15·1 answer
  • PLS HELP ASAP RN ON 4 AND 5
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!