A person invests 3000 dollars in a bank. The bank pays 4.25% interest compounded semi-annually. To the nearest tenth of a year, how long must the person leave the money in the bank until it reaches 5600 dollars?

Answers

Answer 1

Answer:

The person must leave the money for approximately 14.8 years.

Step-by-step explanation:

This can be calculated using the formula for calculating the future value as follows:

FV = PV * (1 + r)^n …………………………………. (1)

Where;

FV = Future value of the investment = 5600

PV = Present value of the investment = 3000

r = semiannual interest rate = 4.25% / 2 = 0.0425 / 2 = 0.02125

n = number of semiannuals = ?

Substitute the values into equation (1) and solve for n, we have:

5600 = 3000 * (1 + 0.02125)^n

5600 / 3000 = 1.02125^n

1.02125^n = 1.86666666666667

Loglinearizing both sides, we have:

nlog1.02125 = log1.86666666666667

n = log1.86666666666667 / log1.02125

n = 0.271066772286539 / 0.0091320695404719

n = 29.6829509548973

Since n is number of semiannuals, we divide the answer by 2 obtain the number of years as follows:

Number of years = 29.6829509548973 / 2 = 14.8414754774487

Rounding to the nearest tenth of year, we have:

Number of years = 14.8

Therefore, the person must leave the money for approximately 14.8 years.


Related Questions

Helppp!!
What is the value of the missing angle?

Answers

Answer:

105

Step-by-step explanation:

all angles inside a triangle add up to equal 180, the inside angle at R is 75 degrees, the TP line is obviously a 180 degree angle, because it's just a straight line, so you subtract 75 from 180 to get 105

hope this helps :)

what is the value of x? -6x=90
Please show you got the answer

Answers

Answer:

-15

Step-by-step explanation:

-6x = 90

x = 90 ÷ -6

x = -15

Answer:

X = -15

Step-by-step explanation:

90/-6 is equal to -15.

You divide the number from the side with the variable from the other side of the = sign.

Which expressions are equal to 105?

Answers

Answer:

2•2²×100+5.

Step-by-step explanation:

PLEASE HELP ASAP!!

The graph represents which system of inequalities?

A.) y<=-2x+3
y<=x+3

B.) y>=-2x+3
y>=x+3

C.) y<=-3x+2
y<=-x+2

D.)y>-2x+3
y>x+3

Answers

Answer:

Its the yellow area

Step-by-step explanation:


7. By selling a bicycle for * 2,850, a shopkeeper gains 14%. If the profit is reduced to 8%, then the selling price
will be
(a) 2,600
(b) 2,700
(c) 2,800
(d) 3,000
with steps

Answers

Correct option :[tex]= \color{plum}\bold{(b) \: 2,700}[/tex]Steps to derive answer :

Selling price of a bicycle = 2850

Profit percentage = 14%

We know that :

[tex]\color{plum}\tt{Cost \: \: price = \frac{Selling \: \: price \: \times \: 100}{100 \: \: + \: \: profit \: \%} }[/tex]

Then, the cost price of this bicycle :

[tex] = \tt \frac{2850 \times 100}{100 + 14} [/tex]

[tex] = \tt \frac{285000}{114} [/tex]

[tex] =\color{plum} \tt2500[/tex]

Thus, the cost price of this bicycle = 2500

In another scenario :

Profit percentage = 8%

Cost price of the bicycle = 2500

Then, Selling price will be equal to :

Let x be the selling price of the bicycle.

[tex] = \tt2500 = \frac{\: x \: \times 100}{100 + 8} [/tex]

[tex] = \tt2500 = \frac{100x}{108} [/tex]

[tex] =\tt 100x = 2500 \times 108[/tex]

[tex] = \tt100x = 270000[/tex]

[tex] =\tt x = \frac{270000}{100} [/tex]

[tex] =\color{plum}\tt x = 2700[/tex]

Therefore, the selling price with a profit of 8% will be = 2700

(4) B is the midpoint of AC, D is the midpoint of CE, find BD.

Answers

Answer:

A :10.5 is the answer

Step-by-step explanation:

10 Points + Brainliest to first correct answer. Please give explanation for Brainliest. Any fake answers will be reported and deleted.
Which diagram best shows how fraction bars can be used to evaluate 1/2 divided by 1/4?

Answers

the second one is correct

Select the equation that represents the graph above.


y=x√−2y is equal to square root of x minus 2 , ,


y=x√+2y is equal to square root of x plus 2 , ,


y=x+2y is equal to x plus 2 , ,


y=x+2−−−−−√

Answers

Answer:

                                                          _

just did the test and got it right its /x + 2

Step-by-step explanation:

just did the test i cant make the simble though but the right answer is the one where the line is only above the x oh wait actually i see your questions know my delete key broke soooo its the 2nd option

What is the greatest common divisor between 621 and 1035.

Answers

Answer:

207

Step-by-step explanation:

The ratio of children to adults in a supermarket is 1 : 5
There are 15 children in the supermarket.
How many adults are in the supermarket?
pls answer quickly thanks :)

Answers

Answer: There are 75 Adults in the supermarket ask me why if you want a full on explanation. The full on reason of why it is 75 is because if you have a ratio of 1:5 and you now the one is for the kids and it is 15. Then you add 15 from 1 until you get to the 5th ratio. Hence, it brings you all the way to 75 adults. I hope this helped you, and anyone else

Step-by-step explanation:

I need help I don’t get the question

Answers

They are equal to each other
9x - 7 = 7x - 3
2x = 4, x = 2
Solution: x = 2

Answer:

2

Step-by-step explanation:

9x-7 = 7x-3

9x-7x = 2x

2x -7 = -3

   +7   +7

2x=4

x=2

Can you please help me with this???

Answers

Answer:

SQT = 100

Step-by-step explanation:

A full circle equals 360 degrees, when the other angles are added up 140 + 120 = 260 which is 100 off of 360 meaning the last angle is that 100 degrees.

Solve: a + 4 = 48
a = 43
a = 51
a = 44
a = 52

Answers

Answer:

a = 44 is correct

Step-by-step explanation:

a + 4 = 48

plug in the #'s 1 at a time

43 + 4 = 48

47 = 48  FALSE

51 + 4 = 48

55 = 48  FALSE

44 + 4 = 48  TRUE

52 + 4 = 48  FALSE

Hope this Helps!!!

Answer:

Your answer would be a= 44

Step-by-step explanation:

44+4=48

To check: 48-4=44

Therefore, your answer is 44

Jackson biked k kilometers. Maria biked 8 more kilometers than Jackson. Peter biked 2 fewer kilometers than Jackson.

Drag and drop the expressions into the boxes to write an expression that represents the total number of kilometers Jackson, Maria, and Peter biked in all.

k
8
12
k+2
k+8
k+10
k-2
k-8

Answers

Answer:

Step-by-step explanation:

The expression for the total distance covered.

k + (k + 8) + (k - 2)

What is an expression?

An expression is a way of writing a statement with more than two variables or numbers with operations such as addition, subtraction, multiplication, and division.

Example: 2 + 3x + 4y = 7 is an expression.

We have,

Distance biked:

Jackson = k

Maria = k + 8

Peter = k - 2

Now,

The total distance biked.

= k + k + 8 + k - 2

= 3k + 6

= 3 (k + 2)

Thus,

The total distance covered is 3 (k + 2).

Learn more about expressions here:

https://brainly.com/question/3118662

#SPJ2

A car rental company charges $26 per day for a rented car and $0.50 for every mile driven. A second car rental company charges $18 per
day and $0.75 for every mile driven. What is the number of miles at which both companies charge the same amount for a one-day rental?
O A 24 miles
OB. 32 miles
C. 42 miles
o D. 44 miles

Answers

the answer is b) 32 miles

A model is made of an Airbus A300 aeroplane.
The length of the model is 36 cm.
The length of the real aeroplane is 54 m.

Answers

Answer:

Since the Airbus A300 model airplane was made to scale, measuring 36 centimeters, while the real airplane measures 54 meters, to determine the scale ratio between both planes, the following calculation must be performed:

36cm = 0.36m

0.36 = 1

54 = X

54 x 1 / 0.36 = X

150 = X

Therefore, the scale ratio between the model and the real plane is 150:1.


Find the value of x in rectangle BCDE.
Find Value of x.

Answers

Answer:

34

Step-by-step explanation:

Answer:

x=34

Step-by-step explanation:

2x=x+34

-x   -x

x=34

TADA! :D

What is the simplest form of this expression?
-x(4x2 - 6x + 1)

Answers

Answer:

−4x3+6x2−x

Step-by-step explanation:

(−x)(4x2−6x+1)

=(−x)(4x2+−6x+1)

=(−x)(4x2)+(−x)(−6x)+(−x)(1)

=−4x3+6x2−x

Which expression is equivalent to - 2/3 (6x + 15) ?
A.
4x + 10
B.
4x – 10
C.
-4x - 10
D.
- 4x + 10

Answers

Answer:

-4x - 10

Step-by-step explanation:

Given the expression -2/3(6x+ 15)

Open the bracket

-2/3(6x+ 15)

= -2/3 (6x) -2/3(15)

= -2(2x) - 2(5)

= -4x - 10

hence the equivalent expression is -4x - 10

Maggie saves money in a jar over a period of 5 weeks, as shown in the table.

A. S = 1.50w + 2.50
B. S = 2.50w + 1.50
C. S = w - 0.50
D. S = w +2.50​

Answers

I’m not sure. I would think it would be b done that is the most reasonable choice

How many solutions are there to the following equation?
5 ( x-3 ) - 3x = 8x - 15 - 6x

A) exactly two solutions
B) exactly one solution
C) no solution
D) infinitely many solutions

Answers

Answer:

D) infinitely many solutions

Step-by-step explanation:

5 ( x-3 ) - 3x = 8x - 15 - 6x

5x - 3x - 15 = 8x - 6x - 15

2x - 15 = 2x - 15

2x = 2x

Since, equations of both lines are same. Therefore, there are infinitely many solutions.

Answer:

D

Step-by-step explanation:

Given

5(x - 3) - 3x = 8x - 15 - 6x

5x - 15 - 3x = 2x - 15

2x - 15 = 2x - 15

Since both sides are the same then any real value of x will be a solution.

That is there are infinitely many solutions

PLEASE HELP WILL GIVE BRAILEST TO CORRECT ANSWER!!!!
Marcus states that the polynomial expression 3x3 – 4x2y + y3 + 2 is in standard form. Ariel states that it should be y3 – 4x2y + 3x3 +2. Explain which student is correct and why.

Answers

Answer:

opps type miss

Step-by-step explanation:

miss type

maya joins two peices of wood together one peice is 36 inches long the total lenght of both peices is 62 how long is the other peice of wood


help ;-;...

Answers

Answer: 26

Step-by-step explanation:

62-36=26

Answer: 26

You simply have to subtract 36 from 62

Describe and correct the error in using properties of parallelograms.

Answers

Answer/Step-by-step explanation:

Opposite angles of a parallelogram are equal to each other.

Therefore, <S = <U, and <T = <V

Consecutive angles of a parallelogram are supplementary.

Therefore,

m<S + m<V = 180°

50° + m<V = 180°

m<V = 180° - 50° (subtraction property of equality)

m<V = 130°

Sneakers at Mr lou's garage sale cost the same price. alexander paid $90.52 for four pairs. How many pairs of sneakers did justin buy if he paid $135.78? write a proportion and use cross products to solve for d, the number of sneakers that David bought.

Answers

Answer 6

Step-by-step explanation:

I found the answer on calculator

anyone know how to do this help

Answers

Answer:

Height if the tree: 13.8 meters

Answer:

Height of the tree: 13.8 meters

Guys I rlly need help this due in 4 minutes, whats 1683 divided by 383 please help me

Answers

Answer:

1683 / 383 = 4.39 or approx 4.4

Answer:

4.39425587467 or 4 remainder 151.

Step-by-step explanation:

Long division.

5x + 3y = 5
5x + 7y = 25

Answers

Answer:

(-2,5)

Step-by-step explanation:

Need help with this question

Answers

Answer:

Correct answer is no. 1

Step-by-step explanation:

Answer:

Choice A, or the first choice, should be the answer

Step-by-step explanation:

By using the process of elimination, you can cross out choices B and C because the speed limit is 30.

The speed limit is 30, thus your speed can be at 30 mi/h.

Choice A is the last and the correct answer.

the captain the chief mate the chief engineer walk around the deck of the ship it takes 4 minutes to the captain to circle the deck of the ship chief mate takes 5 minutes chief engineer takes 6 minutes how many minutes will they meet again at starting point

Answers

Answer:

60 minutes

Step-by-step explanation:

Step 1

We Find and list multiples of each number of minutes that each person walked around the deck until the first common multiple is found. This is the lowest common multiple.

Multiples of 4:

4, 8, 12, 16, 20, 24, 28, 32, 36, 40, 44, 48, 52, 56, 60, 64, 68

Multiples of 5:

5, 10, 15, 20, 25, 30, 35, 40, 45, 50, 55, 60, 65, 70

Multiples of 6:

6, 12, 18, 24, 30, 36, 42, 48, 54, 60, 66, 72

Therefore,

LCM(4, 5, 6) = 60

They would meet again at starting point after 60 minutes

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