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
Feliz [49]
2 years ago
10

Carlos deposited $7,924 into a savings account 30 years ago. The account has an interest rate of 4.6% and the balance is current

ly $30,541.83. How often does the interest compound?
Mathematics
1 answer:
exis [7]2 years ago
6 0

Answer:

n = 1, this means the interest compounds ANNUALLY.

Step-by-step explanation:

Carlos deposited $7,924 into a savings account 30 years ago. The account has an interest rate of 4.6% and the balance is currently $30,541.83. How often does the interest compound?

Compound Interest Formula

: A = P(1 + r/n)^nt

A = Amount after time t

P = Principal (Initial Amount Invested)

r = Interest rate

n = Number of times the interest is compounded

t = time in years

A = $30,541.83

r = 4.6% = 0.046

t = 30

P = $7,924

Hence,

$30,541.83 = $7924(1 + 0.046/n)^30n

Divide both sides by 7924

$30,541.93/$7924 = (1 + 0.046/n)^30n

$30,541.93/$7924 = (n + 0.046/n)^30n

3.8543576477 = (n + 0.046/n)^30n

We take the logarithm of both sides

log 3.8543576477 = log (n + 0.046/n)^30n

Solving for n,

n = 1

Therefore, from the calculation above, since n = 1, this means the interest compounds ANNUALLY.

You might be interested in
a boat is trying to cross a river that is 2 miles wide, by going straight across. The speed of the boat is 25 mph, but the curre
vodomira [7]

Answer: It will take the boat 0.11 hour to cross the river

From the original starting point, the boat end up 1.85 miles away from that point.

Step-by-step explanation: Please find the attached file for the solution

4 0
3 years ago
Please do it in substitution method. Thanks.​
alina1380 [7]

Answer:  No solution

<u>Step-by-step explanation:</u>

x - 3y = 2   →     x = 3y + 2

2x - 6y = 6

2(3y + 2) - 6y = 6        <em>substituted x with 3y+2</em>

6y + 4 - 6y = 6            <em>distributed 2 into 3y+2</em>

        4        = 6           <em>simplified (6y - 6y = 0)</em>

4 = 6 is a FALSE statement so there is NO SOLUTION

5 0
3 years ago
Someone help me solve 29*26/54.33a^26b-893d
azamat

Answer:

The answer is 25g^R4

Step-by-step explanation:

When you solve the equation, it becomes 25g^R4, it doesn't result in a whole number.

6 0
3 years ago
Read 2 more answers
Tomato as a taste modifier. Miraculin—a protein naturally produced in a rare tropical fruit—has the potential to be an alternati
telo118 [61]

Answer:

a) 0.033

b) 0.468

c) 100

Step-by-step explanation:

We are given the following information in the question:

Mean, μ = 105.3

Standard Deviation, σ = 8

The amount x of miraculin produced (measured in micro-grams per gram of fresh weight) had a normal distribution.

Formula:

z_{score} = \displaystyle\frac{x-\mu}{\sigma}

a) P(x > 120)

P( x > 120) = P( z > \displaystyle\frac{120 - 105.3}{8}) = P(z > 1.8375)

= 1 - P(z \leq 1.8375)

Calculation the value from standard normal z table, we have,  

P(x > 120) = 1 - 0.967 = 0.033 = 3.3\%

b) P(x between 100 and 110)

P(100 \leq x \leq 110) = P(\displaystyle\frac{100 - 105.3}{8} \leq z \leq \displaystyle\frac{110-105.3}{8}) = P(-0.6625 \leq z \leq 0.5875)\\\\= P(z \leq 0.5875) - P(z \leq -0.6625)\\= 0.722 - 0.254 = 0.468 = 46.8\%

P(100 \leq x \leq 110) = 46.8\%

c) P(x < a) = 0.25

P( x \leq a) = P( z \leq \displaystyle\frac{a - 105.3}{8}) = 0.25

Calculation the value from standard normal z table, we have,  

P( z \leq -0.674) = 0.25

\displaystyle\frac{x - 105.3}{8} = -0.674\\\\x = -0.674\times 8 + 105.3 = 99.908 \approx 100

3 0
3 years ago
What’s the median of 2, 4, 5, 7 ,7 , 15
Tresset [83]

Answer:

6

Step-by-step explanation:

the middle number of the given list

7 0
3 years ago
Read 2 more answers
Other questions:
  • Julie works two part-time jobs for a total of 37 hours a week. Job A pays $6.50 per hour, and Job B pays $7.40 per hour. How man
    5·1 answer
  • When a number is decreased by 4%, the result is 93. What is the original number to the nearest tenth?
    8·2 answers
  • What fraction is equivalent to 7 over 15
    5·1 answer
  • The successor of a certain number when added to twice the number produces 61. What is the number?
    14·1 answer
  • What is the amplitude, period, and phase shift of f(x) = −5 sin(x + 2π) − 4? 1. Amplitude = −5; period = π; phase shift: x = 2π
    7·2 answers
  • Help please I don’t understand
    15·1 answer
  • Suppose a researcher is testing to see if a basketball player can make free throws at a rate higher than the NBA average of 75%.
    13·1 answer
  • What is the value of the variable x?
    15·2 answers
  • Find the area of a circle with radius 6yd.
    9·2 answers
  • ASAP!! WILL MARK BRAINLIEST!!!!!!!!
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!