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wariber [46]
2 years ago
7

19) Mr. Kelly finds a nice little bank (GOLIATH NATIONAL BANK) to invest the money he made from his

Mathematics
1 answer:
goblinko [34]2 years ago
4 0

Answer:

Step-by-step explanation:

Answer: it will take 17.5 years to double his money in the account.

Step-by-step explanation:

We would apply the formula for determining compound interest which is expressed as

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

Where

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

r represents the interest rate.

n represents the periodic interval at which it was compounded.

P represents the principal or initial amount deposited

From the information given,

P = $500

A = 500 × 2 = $1000

r = 4% = 4/100 = 0.04

n = 4 because it was compounded 3 times in a year.

Therefore,.

1000 = 500(1 + 0.04/4)^4 × t

1000/500 = (1 + 0.01)^4t

2 = (1.01)^4t

Taking log of both sides, it becomes

Log2 = 4tlog 1.01

0.301 = 4t × 0.0043 = 0.0172t

t = 0.301/0.0172

t = 17.5 years

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Answer:

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Step-by-step explanation:

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2 years ago
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Viktor [21]

Answer:

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Step-by-step explanation:

The slope-intercept form of an equation of a line:

y=mx+b

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Put the given y-intercept b = 7 and the coordinates of the point (-2, 1) to the equation:

1=-2m+7          <em>subtract 7 from both sides</em>

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We have the equation:

y=3x+7

Convert it to the general form Ax+By+C=0:

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3x-y+7=0

4 0
3 years ago
One of the numbers was increased by 10 and the other remained the same. How did the average of the two numbers change?
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6 0
3 years ago
a truck weighs 5,400 pounds. An open-wheel race car weighs 1/4 as much. how much does the race car weigh
gtnhenbr [62]
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3 years ago
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