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Bingel [31]
2 years ago
14

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.

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madreJ [45]
Let a = longest side      <em> (Establishing labels)</em>
let b = shortest side
let c = third side

P = 14.5                <em>     (Given)</em>
a = 6.2
b = 1/2(a)

P = a + b + c
P = 6.2 + 3.1 + c        <em>(Fill in given info in equation)</em>

P = 9.3 + c                <em>(Simplify)</em>

14.5 = 9.3 + c           <em>(Simplify)</em>

c = 14.5 - 9.3           <em>(Solve)</em>
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Hope this made sense!
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3 years ago
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Answer:

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Step-by-step explanation:

Let the unknown be x.

Translating the word problem into an algebraic equation, we have;

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Cross-multiplying, we have;

2x/5 = 4

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Answer:

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6 0
2 years ago
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Answer:

Step-by-step explanation:

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Q1

Answer:

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6 0
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