1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
KengaRu [80]
2 years ago
15

$6,700 is invested in an account earning 8. 3% interest (APR), compounded daily. Write a function showing the value of the accou

nt after t years, where the annual growth rate can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage of growth per year (APY), to the nearest hundredth of a percent
Mathematics
1 answer:
aliina [53]2 years ago
7 0

Answer:

  A = $6,700(1 +0.0865^t)

  APY = 8.65%

Step-by-step explanation:

Daily compounding of interest results in an annual growth factor of ...

  gf = (1 +r/365)^365 . . . . for APR = r

Your growth factor is ...

  gf = (1 +0.083/365)^365 ≈ 1.086532

Then the growth rate (APY) is ...

  APY = gf -1 ≈ 8.65%

The account value is multiplied by the growth factor each year, so after t years will be ...

  A = P(1 +APY)^t

  A = $6,700(1 +0.0865)^t . . . . . . . 0.0865 is the annual growth rate

You might be interested in
When calculating a loan’s effective rate, if the interest compounds every two months, what value of n do you plug into your equa
olga2289 [7]

The value of n you plug into your equation will be 6. Then the correct option is C.

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

Compound interest is the interest on a loan or deposit calculated based on the initial principal and the accumulated interest from the previous period.

When calculating a loan’s effective rate.

If the interest compounds every two months.

Then the value of n you plug into your equation will be

If the interest is compounded every two months, the interest will be applied six times every year.

Because there are 12 months in a year, the value of n that you will plug into your equation is 6, and it will be compounded every two months.

More about the compound interest link is given below.

brainly.com/question/25857212

8 0
1 year ago
Read 2 more answers
5. Write an expression to represent "Six more than the difference of a number and three."​
ki77a [65]
N-3+6
i dot believe that is the correct answer have an amazing day love ;)
7 0
2 years ago
When it's an acute triangle what do you notice about the sum of the areas of the 2 smaller squares in relation to the area of th
Ymorist [56]
They're the same because squares have 90 degree angles and that cut in half with a diagonal would make the angle acute at a 45 degree angle so depending on the lengths of the sides depends on the area, the angles have nothing to do with it because all squared have 4 right angles
5 0
3 years ago
It is given that A is directly proportional to r2 and r&gt; 0. When r=5, A=75.
torisob [31]

Answer:

see explanation

Step-by-step explanation:

Given A is directly proportional to r² then the equation relating them is

A = kr² ← k is the constant of proportion

To find k use the condition when r = 5, A = 75 , then

75 = k × 5² = 25k ( divide both sides by 25 )

3 = k

A = 3r² ← equation of proportion

(a)

when r = 4, then

A = 3 × 4² = 3 × 16 = 48

(b)

when A = 147 , then

147 = 3r² ( divide both sides by 3 )

49 = r² ( take the square root of both sides )

r = \sqrt{49} = 7

3 0
2 years ago
Write and simplify an expression that represents how much more company x charges than company Y in cents for n minutes
Gre4nikov [31]
The expression is
35 + 5x - 15 + 4x

and the simplified form is
20 + 9x

good luck
3 0
3 years ago
Other questions:
  • What type of graph displays information by using a column vertically or horizontally? A) Pictograph B) Scatterplot C) Bar Graph
    12·1 answer
  • 8/3 x 9/7 or 8/3 x 9/4<br> Which is greater? How do you know?
    14·1 answer
  • The approximate volume of a sphere with a diameter of 10 centimeters is
    11·1 answer
  • A rectangular cardboard has dimensions as shown. The length of the cardboard can be found by dividing its area by its width. Wha
    13·1 answer
  • Please help ASAP
    10·1 answer
  • Vertex form of -x^2-8x-16
    12·1 answer
  • Why are you guys rong
    15·1 answer
  • Perform the indicated operation of <br>4.2+1.9​
    10·1 answer
  • Can someone pls simplify this<br><img src="https://tex.z-dn.net/?f=%20%5Cfrac%7B105%7D%7B12%7D%20" id="TexFormula1" title=" \fra
    5·1 answer
  • X is a normally distributed random variable with mean 46 and standard deviation 22.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!