A person invests 3500 dollars in a bank. The bank pays 4.75% interest compounded

Mathematics

1 answer:

erastova [34]2 years ago

6 0

9514 1404 393

Answer:

10.7 years

Step-by-step explanation:

The formula for the balance in an account earning compound interest is ...

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

where principal P is invested at annual rate r compounded n times per year for t years. We want to solve for t.

5800 = 3500(1 +0.0475/4)^(4t)

58/35 = 1.011875^(4t) . . . divide by 3500 and simplify a bit

log(58/35) = 4t·log(1.011875) . . . . take logs

t = log(58/35)/(4·log(1.011875)) . . . . divide by the coefficient of t

t ≈ 10.6966 ≈ 10.7

The person must leave the money n the bank for about 10.7 years for it to reach $5800.

You might be interested in

I will mark you Brainliest just help me

Alika [10]

Answer:

The first one is proportional and the second one is not. Because for the first one you can see that if you divide the number of pens by the cost you'll get the same answer for every single one. But for the second one if you divide the number of minutes by words typed you get a different answer for each one. You can also see if it's proportional or not if you draw it on the graph and it's a straight line. If it is the relationship is proportional if it isn't it's not proportional. Hope that makes sense :)

7 0

2 years ago

Read 2 more answers

How to convert nonlinear equation to linear equation?

9966 [12]

Let's take the non-linear equation:
${x}^{2} = \sqrt{3} y$
First Make The Equation To Be In Terms of Y

*Divide Both sides by
$\sqrt{3}$
$\frac{ {x}^{2} }{ \sqrt{3} } = \frac{ \sqrt{3} y}{ \sqrt{3} }$
*Simplify
$\frac{ {x}^{2} }{ \sqrt{3} } = y$
You shouldn't keep a radical in the denominator, however we leave it for the purpose of the reciprocal.

*Take The Reciprocal Of Both Sides
$\frac{ \sqrt{3} }{ {x}^{2} } = \frac{1}{y}$
A Linear Equation Takes The Format:
$y = mx + b$
So,
$\frac{1}{y} = y$
$b = 0$
$m(slope) = \frac{ \sqrt{3} }{x}$
$x = \frac{1}{x}$
Resulting in :
$\frac{1}{y} = \frac{ \sqrt{3} }{x} (\frac{1}{x} ) + 0$

4 0

3 years ago

Which of these expressions correctly represents the phrase “17 less than three times a number”?

Ludmilka [50]

3x-17......................

4 0

3 years ago

Read 2 more answers

a square dance set requires 4 couples 8 dancers with each couple standing on one side of a square. There are 250 people at a squ

sveta [45]

Given:

1 set requires 4 couples 8 dancers.