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kifflom [539]
3 years ago
7

After how many years, to the nearest whole year, will an investment of $100,000 compounded quarterly at 4% be worth

Mathematics
1 answer:
Irina-Kira [14]3 years ago
5 0

9514 1404 393

Answer:

  19 years

Step-by-step explanation:

The compound interest formula tells you the future value of principal P invested at annual rate r compounded n times per year for t years is ...

  A = P(1 +r/n)^(nt)

Solving for t, we get ...

  t = log(A/P)/(n·log(1 +r/n))

Using the given values, we find t to be ...

  t = log(2.13022)/(4·log(1 +0.04/4)) ≈ 19.000

The investment will be worth $213,022 after 19 years.

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iren [92.7K]

Answer:

2 \ \frac{2}{3}

Step-by-step explanation:

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7 0
2 years ago
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Answer:

1.9 as a decimal

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3 years ago
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Bumek [7]

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a. is True.

Step-by-step explanation:

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2 years ago
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Answer:

8 one-dollar bills

3 five-dollar bills

2 ten-dollar bills

Step-by-step explanation:

Let x = # of one-dollar bills, y = # of five-dollar bills, and z = # of ten-dollar bills. Total amount in the wallet is $43, so the first equation would be 1x + 5y + 10z = 43. Next, there are 4 times as many one-dollar bills as ten-dollar bills, so x = 4z. There are 13 bills in total, so x + y + z = 13

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3 0
1 year ago
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Answer:

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Hope this helps.

8 0
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