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
Morgarella [4.7K]
3 years ago
15

Roy Gross is considering an investment that pays 7.6 percent, compounded annually. How much will he have to invest today so that

the investment will be worth $25,000 in six years
Mathematics
1 answer:
Debora [2.8K]3 years ago
4 0

Answer: he should invest $16129 today.

Step-by-step explanation:

Let $P represent the initial amount that should be invested today. It means that principal,

P = $P

It would be compounded annually. This means that it would be compounded once in a year. So

n = 1

The rate at which the principal would be compounded is 7.6%. So

r = 7.6/100 = 0.076

The duration of the investment would be 6 years. So

t = 6

The formula for compound interest is

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

A = total amount in the account at the end of t years.

A = 25000

Therefore

25000 = P(1+0.076/1)^1×6

25000 = P(1.076)^6

25000 = 1.55P

P = 25000/1.55

P = $16129

You might be interested in
Help me with my homework
EleoNora [17]

Answer:

a because I dont know why but some one told me it was this

3 0
3 years ago
Read 2 more answers
How can you make 24 out of 9,8,2,3
nignag [31]

Answer:

(9 - 3) × (8 ÷ 2) = 6 × 4 = 24

Step-by-step explanation:

One of the solution

5 0
3 years ago
Given that (1, 0, 1) is a solution to a system of three linear equations, which of the following is true about the system?
Anna35 [415]
<h3>Answer:  Choice C) </h3><h3>The system can only be independent and consistent</h3>

===========================================================

Explanation:

Let's go through the answer choices

  • A) This isn't possible. Either a system is consistent or inconsistent. It cannot be both at the same time. The term "inconsistent" literally means "not consistent". It's like saying a cup is empty and full at the same time. We can rule out choice A.
  • B) This is similar to choice A and we cannot have a system be both independent and dependent. Either a system is independent or dependent, but not both. Independence means that the two equations are not tied together, while dependent equations are some multiple of each other. We can rule out choice B.
  • C) We'll get back to this later
  • D) The independence/dependence status is unknown without the actual equations present. However, we know 100% that this system is not inconsistent. This is because the system has at least one solution. Inconsistent systems do not have any solutions at all (eg: parallel lines that never cross). We can rule out choice D because of this.

Going back to choice C, again we don't have enough info to determine if the system is independent or dependent, but we at least know it's consistent. Consistent systems have one or more solutions. So part of choice C can be confirmed. It being the only thing left means that it has to be the final answer.

If it were me as the teacher, I'd cross out the "independent" part of choice C and simply say the system is consistent.

6 0
3 years ago
Read 2 more answers
True or False: The FOIL method is an example of the distributive<br> property.
vova2212 [387]

Answer:

True

Step-by-step explanation:

7 0
3 years ago
Read 2 more answers
Write an equation of the line that passes through the given points.<br> (-1,7) and (4, -8)
djverab [1.8K]

Answer:

y=-3x+4

Step-by-step explanation:

m=(y2-y1)/(x2-x1)

m=(-8-7)/(4-(-1))

m=-15/(4+1)

m=-15/5

m=-3

y-y1=m(x-x1)

y-7=-3(x-(-1))

y-7=-3(x+1)

y=-3x-3+7

y=-3x+4

3 0
3 years ago
Other questions:
  • The frequency table shows the number of tires a tire shop repaired over a 30 day period. Using the frequency table, find the ave
    14·1 answer
  • Shaneese is buying peanuts and cashews. she has $12 to spend. peanuts cost $3 per pound and cashews cost $4 per pound. if she bu
    9·1 answer
  • Please help. I don't understand how to solve this problem.
    8·1 answer
  • What is 81.139 rounded to the nearest tenth
    10·1 answer
  • Need help on this question loves
    6·2 answers
  • A triangle has two sides that measure 2.5 cm and 16.5 cm. Which could be the measure of the third side? A. 5.5 cm B. 12.5 cm C.
    14·1 answer
  • What is the highest common factor of 72c and 96
    11·2 answers
  • What is the number of solutions for 6 - 4r + 4r = 7
    14·2 answers
  • Write an equation of the line below.
    8·2 answers
  • Mairead jogs 2,700 feet, while Paula jogs 0.5 mile. Who jogs farther, and by how many feet?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!