All categories

3 years ago

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

Mathematics

1 answer:

goblinko [34]3 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

You might be interested in

How many solutions does the system have?

RUDIKE [14]

For this case we have the following system of equations:

$21x + 6y = 42\\7x + 2y = 14$

We multiply the second equation by -3:

$-21x-6y = -42$

Thus, we observe that the second equation is equivalent to the first, if we add both we get:

$21x-21x + 6y-6y = 42-42\\0 = 0$

The equality is fulfilled. The lines are on top of each other.

Answer:

Infinite solutions

6 0

3 years ago

Read 2 more answers

Which expressions are equivalent to p+p+p+p+p+p+p choose all that apaly

vekshin1

Answer:

hope this helps

have a good day :)

Step-by-step explanation:

5 0

3 years ago

John can cut 3 yards of grass per day if he works seven days how many yards can he cut in a week

Solnce55 [7]

Answer:

Step-by-step explanation:

Since there are 7 days in a week, we'll multiply 3 by 7, resulting in an answer of: 21.

7 0

3 years ago

Pls help Use the rhombus to answer the question

Ierofanga [76]

Answer:

Options A, C and D

Step-by-step explanation:

Properties of a rhombus,

1). All sides are equal and it has two parallel sides.

2). Opposite angles of a rhombus are equal.

3). Diagonals are perpendicular bisector.

4). Sum of two adjacent angles is 180°.

By using these properties,

Options A, C and D are the correct options.

7 0

3 years ago

Express the series using sigma notation. 6 + 9 + 12 + 15. a b c d

Nadusha1986 [10]

Answer:

Option (d) is correct.

6 + 9 + 12 +15 = $\sum_{k=1}^{4}(3k+3)$

Step-by-step explanation:

Consider the given series expansion 6 + 9 + 12 +15.

since we have to write in series form of 3.

We first write each term of given series in term of 3k or 3k+3

6 can be written as 3(2) or 3(1)+3

9 can be written as 3(3) or 3(2)+3

12 can be written as 3(4) or 3(3)+3

15 can be written as 3(5) or 3(4)+3

Thus, we can write the given series as ,

$\sum_{k=2}^{5}3k$ or $\sum_{k=1}^{4}(3k+3)$

Since, we have options to choose.

From the given option (d) matches our result.

So, 6 + 9 + 12 +15 = $\sum_{k=1}^{4}(3k+3)$

5 0

3 years ago

Read 2 more answers