Logan invested $180 in an account paying an interest rate of 2,6% compounded
continuously. Assuming no deposits or withdrawals are made, how much money, to
the nearest ten dollars, would be in the account after 12 years?

Answers

Answer 1

Answer:

250

Step-by-step explanation:

Compounded Continuously:

A=Pe^{rt}

A=Pe

rt

P=180             r=0.026              t=12

Given values

A=180e^{0.026(12)}

A=180e

0.026(12)

Plug in

A=180e^{0.312}

A=180e

0.312

Multiply

A=245.90784475

A=245.90784475

Use calculator (with e button)

A\approx 250

A≈250

Round to nearest ten dollars

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Answer 2

By calculating on the basis of compound interest, after 12 years Logan will have $242.9 in his account.

What is a compound interest?

Compound interest is a type of interest that is compounded after time period it is said to be compounded. After that particular period, the interest is calculated and then added with the principle. For the next duration, the interest is calculated on the sum.

Here, the amount of money after n years as per compound interest,

S = P(1 + r)ⁿ.

Where, P = Principle = $180, r = rate of interest = 2.6%, n = time period = 12 years

Now, S = $180(1 + 2.6/100)¹² = $180(1 + 0.026)¹² = $180(1.026)¹² = $242.9

Hence, after 12 years, Logan will have $242.9 in his bank account.

Learn more about compound interest here: brainly.com/question/25857212

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Related Questions

How do I solve for x

Answers

Answer:

Explanation:

1).
TS = UR

But TS = 18 and UR = 6x

18 = 6x
18/6 = x
3 = x

Answer:

1. x = 3

2. x = 8

3. x = 5

4. x = 8

Step-by-step explanation:

1. 18 = 6x

divide both sides by 6

x = 3

2. x + 7= 15

subtract 7 from both sides

x = 8

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Do you mean the measure?

Solve the equation 2(3x + 7) + 5 = 49.

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Answer:

x=5

Step-by-step explanation:

Answer:

5

Step-by-step explanation:

If 4m + 1 = 7 then 4m = 6
1) Symmetric Property 2) Subtraction Property of Equality
3) Substitution Property 4) Transitive Property

Answers

Answer:

2) Subtraction Property of Equality Properties

General Formulas and Concepts:

Pre-Algebra

Addition Property of Equality - Adding on both sidesSubtraction Property of Equality - Subtracting on both sidesMultiplication Property of Equality - Multiplying on both sidesDivision Property of Equality - Dividing on both sidesTransitive Property - If a = b and b = c, then a = cSymmetric Property - If a = b then b = a

Step-by-step explanation:

Step 1: Define

4m + 1 = 7 → 4m = 6

Step 2: Identify

We see that we subtracted on on both sides of the equation. Therefore, we would have to use the Subtraction Property of Equality. Therefore, 2 is our answer.

What is the quotient of 1 +i ? 3 +4i​

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Step-by-step explanation:

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Which equation represents the line that passes through the points (1, 1) and
(-4, 7)?
A. 5x + 6y = 11
B. 6x + 5y = 11
C. 6x - 5y = -11
D. 5x - y = -11


PLEASE HELP

ILL GIVE YOU BRAINIEST

Answers

Answer:

Option (B)

Step-by-step explanation:

Let the equation of the line is,

y = mx + b

Here m = slope of the line

b = y-intercept

Slope of the line passing through two points [tex](x_1,y_1)[/tex] and [tex](x_2,y_2)[/tex] is,

m = [tex]\frac{y_2-y_1}{x_2-x_1}[/tex]

Slope of the line which passes through the points (1, 1) and (-4, 7) will be,

m = [tex]\frac{7-1}{-4-1}[/tex]

   = [tex]-\frac{6}{5}[/tex]

By substituting the value of m in the equation,

y = [tex]-\frac{6}{5}x+b[/tex]

Since, this line passes through (1, 1),

1 = [tex]-\frac{6}{5}(1)+b[/tex]

b = [tex]1+\frac{6}{5}[/tex]

  = [tex]\frac{11}{5}[/tex]

Therefore, equation will be,

[tex]y=-\frac{6}{5}x+\frac{11}{5}[/tex]

5y = -6x + 11

6x + 5y = 11

Option B is the answer.

HELP MEEE PLEASEEEEE!!!!! I NEED HELPPP!!

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Answers

Answer:

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Step-by-step explanation:

Lets check:

(2,2)

2(2)-2=2 Correct !

2=-2+4 correct !

Hope this helps plz hit the crown :D

Answer:

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Step-by-step explanation:

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Step-by-step explanation:

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Step-by-step explanation:

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Step-by-step explanation:

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What does a function and a non-function mean?

Answers

Answer:

A function is a relation between domain and range such that each value in the domain corresponds to only one value in the range. Relations that are not functions violate this definition. They feature at least one value in the domain that corresponds to two or more values in the range.

Step-by-step explanation:

I will give 26 points for this!!!!

1) GST is 5% and the subtotal is $818.75 what is the Grand total?
2) PST is 8% and the subtotal is $818.75 what is the Grand total?

Answers

Answer:

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Step-by-step explanation:

Answer:

37.5%

Step-by-step explanation:

A number cube has the numbers
1 through 6.
After rolling it 60 times, about how
many times would you roll a 5?

Answers

Answer:

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Triangle B is a(n) ______________________ of Triangle A?
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B) Enlargement

Answers

Answer:

Enlargment

Step-by-step explanation:

Meg is a veterinarian. She found that 25% of the 24 dogs she saw this week were boxers. Steve is also a veterinarian. He found that 8, or 50%, of the dogs he saw this week were boxers. Does each person need to find the part, the whole, or the percent?​

Answers

Answer:

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Step-by-step explanation:

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If log25 ~ 2.3219,
evaluate log280.

Answers

Answer:

You need to write log_2 80 in terms of log_2 5 , such that:

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log_2 (8*10)= log_2 8 + log_2 10

Since log_2 10 = log_2 (2*5) , yields:

log_2 (8*10)= log_2 8 + log_2 (2*5)

log_2 (8*10)= log_2 8 + log_2 2 + log_2 5

You need to write 8 as power of 2, such that:

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Step-by-step explanation:

The value of [tex]log_2{80}[/tex] if [tex]log_25 = 2.3219[/tex] is 6.3219.

What is a logarithm?

The logarithm is exponentiation's opposite function in mathematics.

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Given, [tex]log_25 = 2.3219[/tex].

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learn more about logarithms here :

https://brainly.com/question/30085872

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Answers

Answer: 123 IS

Step-by-step explanation:

Answer: 123

Step-by-step explanation:

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Answers

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Step-by-step explanation:

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Answers

Answer:

C, D

Step-by-step explanation:

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ok

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:D

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Answers

Answer:

39 - 3 = 36

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Step-by-step explanation:

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Answers

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b

Step-by-step explanation:

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A while back, Shelby paid a car insurance premium of $3,980 per year. Now she pays 5% more. What does Shelby pay now?

Answers

Answer:

5,970

Step-by-step explanation:

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The largest cookie ever baked measured a radius if 51 feet. Witch of these is the closest to the area of the cookie

Answers

Answer:

8171.28

Step-by-step explanation:

Area of a circle formula-

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pi= 3.14

to answer THIS question

(3.14) * (51)^2

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I need Help please #24

Answers

13 games..........,............

Answer:

13

Step-by-step explanation:

13 because 13 times 14 is 182

a savings account earns 8% interest each year, compounded quarterly (4 times a year). If a person invests $100 and makes no further deposits or withdrawals, what is the balance in the account after 3 years?​

Answers

Answer:  126.82 dollars

===========================================

Work Shown:

The given values are

P = 100 = amount deposited (principal)r = 0.08 = decimal form of the annual interest raten = 4 = compounding frequencyt = 3 = number of years

Which means,

A = P*(1+r/n)^(n*t) .... compound interest formula

A = 100*(1+0.08/4)^(4*3) .... plug in given values

A = 126.824179456254 ..... value is approximate

A = 126.82 ...... round to the nearest cent

The balance of the account after three years is $126.82

Answer:

124 dollars

Step-by-step explanation:

.08 times 100 equals 8

eight times three is twenty four

that is the simplest answer. if the question had any further interests it might of been 126 or even 125.97

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Answers

Answer:

226.08 in^2

Step-by-step explanation:

The formula for area of a circle is pi*r^2

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9*3.14 = 28.26

The formula for volume of a cylinder  is surface area times height

28.26*8=226.08

Sales at an airport shop has increased by 25 transactions to a total of 400 transactions per day. What is the increased transaction percentage?

Answers

Answer:

6.66

Step-by-step explanation:

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