How much will $1000 deposited in an account earning 7% interest compounded annually be worth in 20 years? (which formula do I use? I am confused...txs)

Answers

Answer 1

Answer:

$3870

Step-by-step explanation:

Hello, the initial deposit is $1000.

After one year, we will get 1000 + 7%*1000= 1000 * ( 1+7%) = 1000 * (1+0.07)

= 1000 * 1.07

And we want to compound it so the second year we will get

[tex]1000 * 1.07 * 1.07 = 1000 * 1.07^2[/tex]

And after n years, we will get

[tex]1000 * 1.07^n[/tex]

In that example, we want to know how much we will get after 20 years, so this is:

[tex]1000 * 1.07^{20}=3869.684462...[/tex]

Thank you.

Answer 2

When interest is compounded, it means that both the interest and the amount deposited will earn interest.

We are to determine the future value of $1000 with annual compounding.

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future value  

P = amount deposited = $1000

R = interest rate = 7%

N = number of years = 20

$1000 x ( 1.07)^20 = $3,869.68

To learn more about compound interest, please check: https://brainly.com/question/14295570?referrer=searchResults


Related Questions

Suppose the following data show the prices of 4 cars with similar characteristics that sold at a recent auction (in thousands of dollars): 6.6, 5, 10.7, 7.3. Calculate the standard deviation of the sample of selling prices. (please express your answer using 2 decimal places)

Answers

Answer: 2.40

Step-by-step explanation:

Given: The prices of 4 cars with similar characteristics that sold at a recent auction (in thousands of dollars): 6.6, 5, 10.7, 7.3.

Let x: 6.6, 5, 10.7, 7.3.

n= 4

Mean : [tex]\overline{x}=\dfrac{\sum x}{n}[/tex]

[tex]\Rightarrow\ \overline{x}=\dfrac{6.6+5+10.7+7.3}{4}\\\\=\dfrac{29.6}{4}\\\\=7.4[/tex]

Now , standard deviation = [tex]\sqrt{\dfrac{\sum(x-\overline{x})^2}{n-1}}[/tex]

[tex]=\sqrt{\dfrac{(6.6-7.4)^2+( 5-7.4)^2+( 10.7-7.4)^2+( 7.3-7.4)^2}{4-1}}\\\\=\sqrt{\dfrac{0.64+5.76+10.89+0.01}{3}}\\\\=\sqrt{\dfrac{17.3}{3}}\approx2.40[/tex]

Hence, the standard deviation of the sample of selling prices = 2.40

1 rabbit saw 9 elephants while going to the river. Every elephant saw 3 monkeys going to the river. Each monkey had 1 tortoise in each hand.

How many animals were going to the river?

Answers

Answer:

91 animals

Step-by-step explanation:

Because every elephant saw 3 monkeys, there were 9 * 3 = 27 monkeys and because every monkey had 1 tortoise in each hand and we know that monkeys have 2 hands, there were 27 * 2 = 54 tortoises. To find the total number of animals that were going to the river, we can calculate 1 + 9 + 27 + 54 = 91 animals.

Answer:

  10

Step-by-step explanation:

Only the rabbit and the 3 monkeys are described as going to the river. The tortoises seem to be going to the river by virtue of being taken there by the monkeys. Those on the path to the river were ...

  1 rabbit

  3 monkeys

  6 tortoises

A total of 10 animals.

Find the work W done by a force of 7pounds acting in the direction 30 degreesto the horizontal in moving an object 7feet from (0 comma 0 )to (7 comma 0 ).

Answers

Answer:

The work done by the force is 42.4 Joules

Step-by-step explanation:

The force F = 7 pounds

angle to the horizontal that the force acts ∅ = 30°

The object is moved a distance d = 7 feet

The coordinate  (0 comma 0 )to (7 comma 0 ), indicates that the movement started from the origin, and is along the x-axis.

The work done by this force = F cos ∅ x d

==> 7 cos 30° x 7

==> 7 x 0.866 x 7 = 42.4 Joules

Find the product of the roots of the equation
xl-5x - 36 = 0

Answers

Answer:

Step-by-step explanation:

Hello, I assume that you mean

[tex]x^2-5x-36[/tex]

The product is -36.

[tex]x_1 \text{ and } x_2 \text{ are the two roots, we can write}\\\\(x-x_1)(x-x_2)=x^2-(x_1+x_2)x+x_1\cdot x_2[/tex]

So in this example, it means that the sum is 5 and the product is -36.

Thank you

The formula for the area of a square is s2, where s is the side length of the square. What is the area of a square with a side length of 6 centimeters? Do not include units in your answer.

Answers

Answer:

36

step by step

given length=6

so area of square is given by s2 i.e 6^2

=6×6

=36 (Ans)

Question
Consider this expression.
4/2² - 6²
Type the correct answer in the box. Use numerals instead of words. For help, see this worked example e.
When a =
-5 and b = 3, the value of the expression is
Submit

Answers

Answer:

16

Step-by-step explanation:

4 * sqrt( a^2 - b^2)

Let a = -5 and b =3

4 * sqrt( (-5)^2 - 3^2)

Do the squaring first

4 * sqrt( 25 - 9)

Subtract inside the square root

4 * sqrt( 16)

Take the square root

4 * 4

Multiply 16

Answer:

[tex]\Large \boxed{16}[/tex]

Step-by-step explanation:

[tex]4\sqrt{a^2-b^2 }[/tex]

[tex]\sf Plug \ in \ the \ values \ for \ a \ and \ b.[/tex]

[tex]4\sqrt{-5^2-3^2 }[/tex]

[tex]4\sqrt{25-9 }[/tex]

[tex]4\sqrt{16}[/tex]

[tex]4 \times 4=16[/tex]

Use​ DeMoivre's Theorem to find the indicated power of the complex number. Write the answer in rectangular form.

2(cos20∘+isin20∘))3=__________

Answers

Answer:

After solving the power:

[tex]\bold{2(cos60^\circ+isin60^\circ)}[/tex]

Rectangular form:

[tex]\bold{1+i\sqrt3}[/tex]

Step-by-step explanation:

Given the complex number:

[tex]2(cos20^\circ+isin20^\circ)^3[/tex]

To find:

The indicated power by using De Moivre's theorem.

The complex number in rectangular form.

Rectangular form of a complex number is given as [tex]a+ib[/tex] where a and b are real numbers.

Solution:

First of all, let us have a look at the De Moivre's theorem:

[tex](cos\theta+isin\theta )^n=cos(n\theta)+isin(n\theta )[/tex]

First of all, let us solve:

[tex](cos20^\circ+isin20^\circ)^3[/tex]

Let us apply the De Moivre's Theorem:

Here, n = 3

[tex](cos20^\circ+isin20^\circ)^3 = cos(3 \times 20)^\circ+isin(3 \times 20)^\circ\\\Rightarrow cos60^\circ+isin60^\circ[/tex]

Now, the given complex number becomes:

[tex]2(cos60^\circ+isin60^\circ)[/tex]

Let us put the values of [tex]cos60^\circ = \frac{1}{2}[/tex] and [tex]sin60^\circ = \frac{\sqrt3}{2}[/tex]

[tex]2(\dfrac{1}{2}+i\dfrac{\sqrt3}2)\\\Rightarrow (2 \times \dfrac{1}{2}+i\dfrac{\sqrt3}2\times 2)\\\Rightarrow \bold{1 +i\sqrt3 }[/tex]

So, the rectangular form of the given complex number is:

[tex]\bold{1+i\sqrt3}[/tex]

x − 6 ≤ 3 solve for x please

Answers

Answer:

x  ≤ 9

Step-by-step explanation:

x − 6 ≤ 3

Add 6 to each side

x − 6+6 ≤ 3+6

x  ≤ 9

Answer:

x ≤ 9

I hope this helps!

algebra and trigonometry difference

Answers

Answer:

Algebra deals with knowing the value of unknown variables and functional relationships, while trigonometry touches on triangles, sides and angles and the relationship between them.

Algebra is more on polynomial equations, x and y while trigonometry more on sine, cosine, tangent, and degrees.

Trigonometry is much more complicated than algebra but algebra has its uses in our daily lives, be it calculating distance from point to another or determining the volume of milk in a milk container.

Step-by-step explanation:

Answer:

Although both Algebra II and Trigonometry involve solving mathematical problems, Algebra II focuses on solving equations and inequalities while Trigonometry is the study of triangles and how sides are connected to angles.

hope this answer helps u

pls mark as brainliest .-.

Find the missing probability. P(A)=7/20,P(A∪B)=191/400,P(A∩B)=49/400 ,P(B)=? A. 7/8 B. 1/4 C. 117/400 D. 19/40

Answers

Answer:

B

Step-by-step explanation:

P(AUB)=P(A)+P(B)-P(A∩B)

191/400=7/20+P(B)-49/400

P(B)=191/400+49/400-7/20=240/400-7/20=12/20-7/20=5/20=1/4

The value of P(B) is 1/4.

What is probability?

The probability is defined as the possibility of an event is equal to the ratio of the number of favorable outcomes and the total number of outcomes.

For an experiment having q number of outcomes, the number of favorable outcomes can be denoted by p. The formula to calculate the probability of an event is as follows:

Probability(Event) = Favorable Outcomes/Total Outcomes = p/q

Given data as :

P(A) = 7/20,

P(A∪B) = 191/400,

P(A∩B) = 49/400 ,

P(AUB) = P(A) + P(B) - P(A∩B)

Substitute the values of P(A), P(A∪B) and P(A∩B) in formula,

191/400 = 7/20 + P(B) - 49/400

Rearrange the terms in the equation,

P(B) = 191/400 + 49/400 - 7/20

P(B) = 240/400 - 7/20

P(B) = 12/20 - 7/20

P(B) = 5/20

P(B) = 1/4

Hence, the value of P(B) is 1/4.

Learn more about probability here :

brainly.com/question/11234923

#SPJ5

What is the rise over run for the slope -11/9

Answers

Answer:  11 down and 9 right

Step-by-step explanation:

Slope IS rise over run where the top number of the fraction (numerator) determines the vertical distance --> positive is up, negative is down

and the bottom number of the fraction (denominator) determines the horizontal distance --> positive is right, negative is left.

Given slope = -11/9

the numerator is -11 so the "rise" is  DOWN 11 units

the denominator is 9 so the "run" is RIGHT 9 units

The grade appeal process at a university requires that a jury be structured by selecting individuals randomly from a pool of students and faculty.​ (a) What is the probability of selecting a jury of all​ students? (b) What is the probability of selecting a jury of all​ faculty? (c) What is the probability of selecting a jury of students and ​faculty

Answers

Correct question is ;

The grade appeal process at a university requires that a jury be structured by selecting eight individuals randomly from a pool of nine students and eleven faculty.​ (a) What is the probability of selecting a jury of all​ students? (b) What is the probability of selecting a jury of all​ faculty? (c) What is the probability of selecting a jury of six students and two ​faculty?

Answer:

A) 7.144 × 10^(-5)

B) 0.00131

C) 0.0367

Step-by-step explanation:

We are given;

Number of students = 9

Number of faculty members = 11

A) Now, the number of ways we can select eight students from 9 =

C(9, 8) = 9!/(8! × 1!) = 9

Also, number of ways of selecting 8 individuals out of the total of 20 = C(20,8) = 20!/(8! × 12!) = 125970

Thus, probability of selecting a jury of all​ students = 9/125970 = 7.144 × 10^(-5)

B) P(selecting a jury of all faculty) = (number of ways to choose 8 faculty out of 11 faculty)/(Total number of ways to choose 8 individuals out of 20 individuals) = [C(11,8)]/[C(20,8)] = (11!/(8! × 3!))/125970 = 0.00131

C) P(selecting a jury of six students and two faculty) = ((number of ways to choose 6 students out of 9 students) × (number of ways to choose 2 faculty out of 11 faculty))/(Total number of ways to choose 8 individuals out of 20 individuals) = [(C(9,6) × C(11,2)]/125970

This gives;

(84 × 55)/125970 = 0.0367

line m in the xy-plane above is to be reflected through the x-axis. if the slope of line m is 2/3,whats is the slope of the image of line m under the reflection.

Answers

Answer: The new slope is -(2/3)

Step-by-step explanation:

Ok, we know that our line can be written as:

y = (2/3)*x + b

where b is the y-intercept, and here does not really matter.

Ok, remember that if we have a point (x, y) and we reflect it over the x-axis, the new point will be (x, -y).

For our linear equation, the point (x, y) can be written as:

(x, y = (2/3)*x + b) = (x,  (2/3)*x + b)

Now, after the reflection, our point is:

(x, - ( (2/3)*x + b)) = (x, -(2/3)*x - b)

Then our new line is y = -(2/3)*x - b

The new slope is -(2/3)

Which table has a constant of proportionality between 7 and x of 1/4? Choices are in the image

Answers

Answer:

A. has a constant proportion of 1/4.

PLEASE HELP ASAP Madelyn drove a race car in a race. She averaged 55 mph and began the race 0.5 hours ahead of the other drivers. The variable d represents Madelyn's distance driven, in miles. The variable t represents the number of hours since the other drivers began to race. Which equation can be used to determine the distance Madelyn drove t hours into the race? d=55t−0.5 d=55(t+0.5) d=55(t−0.5) d = 55t + 0.5

Answers

Answer:

d=55(t+0.5)

Step-by-step explanation:

d=55(t+0.5)

Answer:

27.5

Step-by-step explanation:

When comparing more than two treatment means, why should you use an analysis of variance instead of using several t tests?

Answers

Answer:

Because it increases the risk of Type 1 error

Step-by-step explanation:

ANOVA is the analysis of the variance .

When comparing more than two treatment means we use ANOVA because a t test increases the risk of type 1 error  .

For example if we wish to compare 4 population means there will be 4C2 = 6 separate pairs and to test the null hypothesis that all four population means are equal would require six two sample t test. Similarly to test 10 population mean would require 45 separate two sample t test.

This has two disadvantages .

First the procedure is too lengthy  and tediuos.

Second the overall level of significance greatly increases as the number of t- tests increases.

The analysis of the variance compares two different estimates of variance using the F distributionto determine whether the population means are equal.

y - 4= -2(x + 3)

Complete the missing value in
the solution to the equation.

(-3, _ )

Answers

Answer:

4

Step-by-step explanation:

i distributed the -2 to what's in the parentheses. that equal 0. I then moved the 4 to the zero so that it becomes positive. I just assumed that you were ask for Y

Step-by-step explanation:

y-4=-2(x+3)....eq(1)

y- 4= -2x-6

y=-2x-2...eq(2)

subtituting equation 2 in equation 1

(-2x-2)-4=-2x-6

-2x-6=-2x-6

=0

Rhombus J K L M is shown. The length of J K is 2 x + 4 and the length of J M is 3 x. What is the length of a side of rhombus JKLM? 4 units 8 units 12 units 16 units

Answers

Answer:

12 units

Step-by-step explanation:

Since all of the sides of a rhombus are congruent, JK = JM which means:

2x + 4 = 3x

-x = -4

x = 4 so 3x = 3 * 4 = 12

(-1, 4) and (-2, 2).

Answers

Answer:

Slope : 2

slope-intercept: y = 2x + 6

Point-slope (as asked): y - 4 = 2 (times) (x + 1)

standered: 2x - y = -6

Step-by-step explanation:

Choose the inequality that represents the following graph.

Answers

If x is represented by the blue, A is the correct answer.

Answer:

option a

Step-by-step explanation:

give person above brainliest :)

BRAINLEST , If y varies inversely with the square of x, and y = 26 when x = 4, find y when x = 2.

Answers

Answer:

Question 18: B. 104

Question 19: [tex] x = \frac{3}{2} [/tex]

Step-by-step Explanation:

Question 18:

Step 1: express the inverse relationship with an equation

[tex] y = \frac{k}{x^2} [/tex] ,

where k is constant

y = 26 when x = 4,

Constant, k, = [tex] y*x^2 = k [/tex]

[tex] k = 26*4^2 = 416 [/tex]

The equation would be [tex] y*x^2 = 416 [/tex]

Step 2: use the equation to find y when X = 2.

[tex] y*x^2 = 416 [/tex]

[tex] y*2^2 = 416 [/tex]

[tex] y*4 = 416 [/tex]

Divide both sides by 4

[tex] \frac{y*4}{4} = \frac{416}{4} [/tex]

[tex] y = 104 [/tex]

Question 19:

[tex] \frac{x}{3} = \frac{x + 2}{7} [/tex]

Cross multiply

[tex] x(7) = 3(x + 2) [/tex]

[tex] 7x = 3x + 6 [/tex]

Subtract 3x from both sides

[tex] 7x - 3x = 3x + 6 - 3x [/tex]

[tex] 4x = 6 [/tex]

Divide both sides by 4

[tex] \frac{4x}{4} = \frac{6}{4} [/tex]

[tex] x = \frac{3}{2} [/tex]

Answer: D.) 52

Explanation: I guessed and got it right lol

If 2( a^2 +b^2 ) = ( a+b)^2 , then
a. a+b =0
b. a =b
c. 2a =b
d. ab =0

Answers

Answer:

the answer is a=b

Step-by-step explanation:

i need help will rate you branliest

Answers

Answer D. the bottom one is the answer, because hyperbola is two curves that curve infinitely

Hope

Answer:

D. the bottom one is the answer, because hyperbola is two curves that curve infinitely

The Rogers family drove 220 miles in 5.5 hours. How many miles would they drive at this same rate in 4 hours? A. 88 mi B. 147 mi C. 160 mi D. 179 mi Please show ALL work! <3

Answers

Answer:

160 miles

Step-by-step explanation:

We can use a ratio to solve

220 miles         x miles

--------------- = ----------------------

5.5 hours          4 hours

Using cross products

220 *4 = 5.5x

880 = 5.5x

Divide each side by 5.5

880/5.5 = x

160 miles

Answer:

[tex]\large \boxed{\mathrm{C. \ 160 \ miles}}[/tex]

Step-by-step explanation:

We can solve this problem by ratios.

Let x be the missing value.

[tex]\displaystyle \frac{220}{5.5} =\frac{x}{4}[/tex]

Cross multiply.

[tex]5.5 \times x = 220 \times 4[/tex]

[tex]5.5x=880[/tex]

Divide both sides by 5.5.

[tex]\displaystyle \frac{5.5x}{5.5} =\frac{880}{5.5}[/tex]

[tex]x=160[/tex]

I need help please, m bda =

And m bca =

Answers

Step-by-step explanation:

Exterior angle BOA = 250°

Interior angle BOA = 360°- 250° = 110°

Now,

(A) BDA = interior angle BOA / 2 = 55°( Property of circles)

(B) From the figure, we observe that AOBC is a cyclic quadrilateral (i.e. sum of opposite angles is 180°).

Therefore, BCA + BOA = 180°

BCA = 180° - 110° = 70°

Find the measure of c.

Answers

Answer:

149 degrees

Step-by-step explanation:

This shape is a cyclic, so opposite angles add up to 180 degrees.

180-31 = 149

A Markov chain has 3 possible states: A, B, and C. Every hour, it makes a transition to a different state. From state A, transitions to states B and C are equally likely. From state B, transitions to states A and C are equally likely. From state C, it always makes a transition to state A.

(a) If the initial distribution for states A, B, and C is P0 = ( 1/3 , 1/3 , 1/3 ), find the distribution of X2

(b) Find the steady state distribution by solving πP = π.

Answers

Answer:

A) distribution of x2 = ( 0.4167 0.25 0.3333 )

B) steady state distribution = [tex]\pi a \frac{4}{9} , \pi b \frac{2}{9} , \pi c \frac{3}{9}[/tex]

Step-by-step explanation:

Hello attached is the detailed solution for problems A and B

A) distribution states for A ,B, C:

Po = ( 1/3, 1/3, 1/3 )  we have to find the distribution of x2 as attached below

after solving the distribution

x 2 = ( 0.4167, 0.25, 0.3333 )

B ) finding the steady state distribution solving

[tex]\pi p = \pi[/tex]

below is the detailed solution and answers

15+9=? (5+3) What number is missing from the expression?

Answers

Answer:

[tex] \boxed{ \boxed{ \bold{ \mathsf{3}}}}[/tex]

Step-by-step explanation:

Let the missing number be 'x'

⇒[tex] \mathsf{15 + 9 = x(5 + 3)}[/tex]

Distribute x through the parentheses

⇒[tex] \mathsf{15 + 9 = 5x + 3x}[/tex]

Swap the sides of the equation

⇒[tex] \mathsf{5x + 3x = 15 + 9}[/tex]

Add the numbers

⇒[tex] \mathsf{5x + 3x = 24}[/tex]

Collect like terms

⇒[tex] \mathsf{8x = 24}[/tex]

Divide both sides of the equation by 8

⇒[tex] \mathsf{ \frac{8x}{8} = \frac{24}{8} }[/tex]

Calculate

⇒[tex] \mathsf{x = 3}[/tex]

Hope I helped!

Best regards!

BOND VALUATION Asiana Fashion's bonds have 10 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 8% and thebyield to maturity is 9%.What is the bond's current market price?​

Answers

Answer:

$935.76

Step-by-step explanation:

BOND VALUATION Asiana Fashion's bonds have 10 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 8% and thebyield to maturity is 9%.What is the bond's current market price?​

Step 1

We find the Present value factor of sum

The formula =

(1 + i)^n

Where

i = maturity rate = 9% = 0.09

n = number of years = 10 years

Present Value = ( 1 + 0.09)^-10

= 0.4224

Step 2

We find the present value factor of annuity

The formula is given as:

1 - (1+i)^-n / i

i = maturity rate = 9% = 0.09

n = number of years = 10 years

= 1 - (1 + 0.09)^-10 /0.09

= 1 - 0.4224 /0.09

= 0.5775 /0.09

= 6.417

Step 3

The bond's current market price is calculated as:

= PV factor of Sum × Par Value + PV factor of annuity × coupon payment

Coupon payment is calculated as:

= Coupon interest × par value

= 8% × 1000

= 80

Hence,

= 0.4224 × 1,000 + 6.417 × 80

= 422.4 + 513.36

= 935.76

In this exercise we have to use the knowledge of finance to calculate the corrective value of the market place, in this way we find that:

[tex]\$935.76[/tex]

We find the Present value factor of sum, by the formula of:

[tex](1 + i)^n[/tex]

Where:

i = maturity rate = 9% = 0.09 n = number of years = 10 years

Substituting the values ​​in the formula as;

[tex]Present \ Value = ( 1 + 0.09)^{-10} = 0.4224[/tex]

We find the present value factor of annuity, by the formula as:

[tex]1 - (1+i)^{-n} / i[/tex]

Where:

i = maturity rate = 9% = 0.09 n = number of years = 10 years

Substituting the values ​​in the formula as;

[tex]= 1 - (1 + 0.09)^{-10} /0.09\\= 1 - 0.4224 /0.09\\= 0.5775 /0.09\\= 6.417[/tex]

The bond's current market price is calculated as:

[tex]= PV \ factor\ of\ Sum * Par\ Value + PV\ factor\ of\ annuity * coupon\ payment[/tex]

Coupon payment is calculated as:

[tex]= Coupon\ interest * par\ value\\= 8\% * 1000= 80[/tex]

So continue the calcule;

[tex]= 0.4224 *1,000 + 6.417 * 80\\= 422.4 + 513.36\\= 935.76[/tex]

See more about market place at brainly.com/question/24518027

Solve x/10 = -7 A. x = 3 B. x = -0.7 C. x = -17 D. x = -70

Answers

Answer:

x = -70

Step-by-step explanation:

x/10 = -7

Multiply each side by 10

x/10*10 = -7*10

x = -70

Other Questions
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