Can anyone help me out a little

Lincoln invested $49,000 in an account paying an interest rate of 6\tfrac{1}{8}6

Orlov [11]

Using compound interest and continuous compounding, it is found that Lincoln would have $15,856 more in his account than Eli.

<h3>What is compound interest?</h3>

The amount of money earned, in compound interest, after t years, is given by:

$A(t) = P\left(1 + \frac{r}{n}\right)^{nt}$

In which:

A(t) is the amount of money after t years.

P is the principal(the initial sum of money).

r is the interest rate(as a decimal value).

n is the number of times that interest is compounded per year.

Hence, for Lincoln, we have that the parameters are as follows:

P = 49000, r = 0.06125, n = 365, t = 20.

Hence the amount will be of:

$A_L(t) = P\left(1 + \frac{r}{n}\right)^{nt}$

$A_L(20) = 49000\left(1 + \frac{0.06125}{365}\right)^{365 \times 20}$

$A_L(20) = 166787$

<h3>What is continuous compounding?</h3>

The amount is given by:

$A(t) = Pe^{rt}$

For Eli, we have that r = 0.05625, hence the amount will be given by:

$A(t) = Pe^{rt}$

$A_E(20) = 49000e^{0.05625 \times 20} = 150931$

<h3>What is the difference?</h3>

It is given by:

$D = A_L(20) - A_E(20) = 166787 - 150931 = 15856$

Lincoln would have $15,856 more in his account than Eli.

More can be learned about compound interest at brainly.com/question/25781328

6 0

3 years ago

Anita purchased a couch that was priced at $700. She will also have to pay 6% sales tax. How much will she pay in total for the

Zolol [24]

Answer:

$742

Step-by-step explanation:

To solve this, you need to figure out what 6% of 700 dollars is and then add that to 700. The easiest way to find the percentage of a number is to set it up in the equation:

6/100 = x/700 where 6 is the percentage of 700 (out of 100 because you can only get up to 100 percent in this case) and x is 6 percent of 700. when you cross multiply, you get 100x = 4200. Then you divide both sides by 100 to get x by itself. This will give you x = 42 Add this to 700 for 742 as the total amount that will be paid. Sorry if this first half was a little confusing

6 0

3 years ago

What is a time series plot.

lidiya [134]

A time-series plot is a graphical representation in which the measure of time is expressed on the x-axis and what is to be measured is represented on the y-axis.

A time-series plot also known as a line chart helps to depict data from any event that has been gathered in a time sequence.

It is usually represented on a graph where the measure of time is expressed on the x-axis and what is to be measured is represented on the y-axis. It is also used for the visualization of trends and patterns. e.g seasonal changes in climate.

Learn more about the time-series plot here:

brainly.com/question/17014289

4 0

2 years ago

What’s the midpoint of (-4,6) (4,-2)

valkas [14]

Answer:

(0,2)

Step-by-step explanation:

$(\frac{x^{1} +x^{2} }{2} ,\frac{y^{1} +y^{2} }{2} )\\\\\frac{-4+4}{2}, \frac{6+-2}{2}\\ \\\frac{0}{2},\frac{4}{2}$