You invest 5000 in an account at 5.5% per year simple intrest how much will you have in the account at the beginning of the 6th
1 answer:
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Answer:
Part A)
About $3767.34.
Part B)
About $3692.47.
Step-by-step explanation:
Part A)
Recall that compound interest is given by the formula:
Where <em>A</em> is the final amount, <em>P</em> is the initial amount, <em>r</em> is the interest rate, <em>n</em> is the number of times compounded per year, and <em>t</em> is the number of years.
To obtain $4000 after two years, let <em>A</em> = 4000 and<em> t</em> = 2.
Because the account pays 3% interest compounded monthly, <em>r</em> = 0.03 and <em>n</em> = 12.
Substitute and solve for <em>P: </em>
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In concluion, about $3767.34 should be deposited.
Part B)
Recall the formula for continuous compound:
Where <em>e</em> is Euler's number.
Hence, let <em>A</em> = 4000, <em>r</em> = 0.04 and <em>t</em> = 2. Substitute and solve for <em>P: </em>
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In conclusion, about $3692.47 should be deposited.
Answer:
<h2>The answer is 13.4 units</h2>Step-by-step explanation:
The distance between two points can be found by using the formula
where
(x1 , y1) and (x2 , y2) are the points
From the question the points are
A (10,-1) and B (-2,5)
The distance is
We have the final answer as
<h3>13.4 units to the nearest tenth</h3>Hope this helps you