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2 years ago

13

A grandmother deposited $4,000 in an account that pays 5% per year compounded annually when her granddaughter was born. What wil

l the value of the account be when the granddaughter reaches her 13th birthday?

1 answer:

Leya [2.2K]2 years ago

4 0

A = P (1 + r/n)^nt
A = 4000(1 + 0.05/1)^(13)(1)
A = $7542.59

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alex41 [277]

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2 years ago

Can please help!

sukhopar [10]

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2 years ago

A cup of raw Arborio rice weighs 7 ounces. One cup will serve 1 people. Arborio rice is purchased in 2-pound boxes for $1.99. Ho

kow [346]

The rice will cost $17.6 for serving 40 people

<h3><u>Solution:</u></h3>

We need to determine the cost of serving 40 people with rice

Arborio rice is purchased in 2-pound boxes for $1.99

The price of 1 pound box will be $\frac{\$ 1.99}{2}=\$ 0.995$

1 Pound (lb) is equal to 16 ounces (oz)

Therefore, the price of 16 ounces is $0.995

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$\begin{array}{l}{\text { The cost per person is } \frac{\$ 0.995}{16} \times 7=\$ 0.44} \\\\ {\text { The cost for serving } 40 \text { people }=\$ 0.44 \times 40=\$ 17.6}\end{array}$

Therefore rice will cost $17.6 for serving 40 people

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2 years ago