Mark invests $8,008 in a retirement account with a fixed annual interest rate of 2% compounded 6 times per year. What will the account balance be after 16 years?

Please help i need the answer by tomorrow!

Answers

Answer 1

Given:

Principal value = $8,008

Rate of interest = 2% compounded 6 times per year.

Time = 16 years

To find:

The account balance after 16 years.

Solution:

The formula for amount is:

[tex]A=P\left(1+\dfrac{r}{n}\right)^{nt}[/tex]

Where, P is principal, r is the rate of interest, n is the number of times interest compounded in an year and t is the number of years.

Putting [tex]P=8,008, r=0.02,n=6,t=16[/tex] in the above formula, we get

[tex]A=8008\left(1+\dfrac{0.02}{6}\right)^{6(16)}[/tex]

[tex]A=8008\left(\dfrac{6.02}{6}\right)^{96}[/tex]

[tex]A=11022.1721148[/tex]

[tex]A\approx 11022.17[/tex]

Therefore, the account balance after 16 years is $11022.17.


Related Questions

Find y.
PLEASE HELP ASAPPPP

Answers

Answer:

y = 4

Step-by-step explanation:

[tex]\frac{sin(90)}{4\sqrt{2} } = \frac{sin(45)}{y}[/tex]

Answer:

y = 4

Step-by-step explanation:

Using the cosine ratio in the right triangle and the exact value

cos45° = [tex]\frac{1}{\sqrt{2} }[/tex] , then

cos45° = [tex]\frac{adjacent}{hypotenuse}[/tex] = [tex]\frac{y}{4\sqrt{2} }[/tex] = [tex]\frac{1}{\sqrt{2} }[/tex] ( cross- multiply )

y × [tex]\sqrt{2}[/tex] = 4[tex]\sqrt{2}[/tex] ( divide both sides by [tex]\sqrt{2}[/tex] )

y = 4

find the coordinates of the points which divide the join X(-1,7) and Y(4,-3) in the ratio of 7:2.​

Answers

Answer:

(26/9 , -7/9)

Step-by-step explanation:

Here,

let the points be

X(-1,7) = (x1, y1)

Y(4,-3) = (x2,y2)

and let the ratio be...

m:n = 7:2

and.. let the point that divides the line be

P(x,y)

now using the section formula for internal division..

P(x,y) = ( m.x2 + nx.1 / m+ n , my2+ny2/m+n )

= ( 7.4+2.-1 / 7+2 , 7.-3 + 2.7/7+2 )

= ( 26/9 , -7/9 )

Anyone know this question?

Answers

i think the answer is b

Please help me solve this question

Answers

Answer:

A = 16 units²

Step-by-step explanation:

The area (A) of a parallelogram is calculated as

A = bh ( b is the base and h the perpendicular height )

The right triangle on the left is a 3- 4- 5 ( Pythagorean triple )

Then b = 4 and h = 4 , so

A = 4 × 4 = 16 units²

find the sum or difference of the polynomials. Write your answer in descending
order.(-3x2 + 2x + 1) + (-8x2 + 3x + 2)

Answers

i think by x2 you meant x²

(-3x² + 2x + 1) + (-8x² + 3x + 2)

-11x² + 5x + 3

solve for x. round to the nearest tenth of a degree, if necessary.​

Answers

x=30°

Answer:

Cos x°=adjacent/hypotenuse

Cos x°=45/52

x°=Cos-¹(45/52)

x°=30°

Se preguntó a 44 estudiantes por el tiempo, medido en minutos, que tardan en
llegar a su sitio de estudio. Las respuestas obtenidas fueron: 15,20,17,24,45,40,35,39,46,44,50,47,42,40,38,30,35,45,35,45,35,37,47,48,58,55,38,37,40,43,40,39,45,48,50,35,20,57,55,56,47,43,37,34,50,60
a) Clasifique la variable y construya la
TDF correspondiente al histograma.
b) Realice 4 interpretaciones de los
datos condensados en la TDF del punto a).
c) Realice el histograma, el polígono de
frecuencias y la ojiva de esta variable.

Answers

Answer:

sdfghjkl

Step-by-step explanation:

i need helpp plzzz!!!!!!!!!!!!!!!!

Answers

Answer:

314.159265

Step-by-step explanation:

Area = pi(r)^2

Since radius isn’t identified diameter must be divided in half

radius = 10

Area = pi(10)^2

Multiply 10 x 10

10 x 10 = 100

Area = pi(100)

Multiply 100 by pi

pi x 100 = 314.159265

find the missing length indicated.​

Answers

Answer:

Step-by-step explanation:

x is the geometric mean because it is a part of both the small triangle on the left (with base 81) and the whole triangle (with base 225). Setting up the geometric means formula:

[tex]\frac{81}{x}=\frac{x}{225}[/tex] and cross multiply to get

[tex]x^2 =18225[/tex] so

x = [tex]\sqrt{18225}[/tex] and

x = 135

What is the simplified form of the following expression?
5 58-18-2-82
02.12
o 5.82
o 9.2
O 152

Answers

Answer:

[tex]5 \sqrt{2} [/tex]

it’s the second one in the picture

Please help me!!!!! You have to match the slope of each line

Answers

Answer:

it would be line to zero slope that's all I can do for u pal maybe..

There are 5 seats in a bus. In how many different ways if there are 5 children. How many different ways are there if there are 4 children, and how many different ways are there if there are 3 children.

Answers

Answer:

5=1

4=5

i don't really know for the third one sorry but it's more than 11

Step-by-step explanation:

What is the answer for y=?

Answers

Answer:

hwukebhejsnsknbjbbjkkkkkkkk

Can somebody help me Answer to this ??

Answers

X=7

c is the answer:

[tex]3x + 50 = 10x + 1 \\ 10x - 3x = 50 - 1 \\ 7x = 49 \\ x = \frac{49}{7} \\ x = 7[/tex]

X=7! Math always sucks

Please help me multiply this

Answers

Answer:

(x-4y)(x-3y) ÷(x+8y)(x-8y)×(x+8y)÷3(x-3y)

=3(x-4y)÷(x-8y)

A chocolate chip cookie recipe requires three and one third cups of flour to one cup of chocolate chips. If one and one quarter cups of flour is used what quantity of chocolate chips will be needed according to the recipe?

Answers

Answer:

3/40 cup

Step-by-step explanation:

3 1/3 =10/3

10/3 to 1 is 1/4 to x

i then proceeded to use the butterfly method to find the answer

Please anyone help me

Answers

Math Problem

If die is rolled two times, find the probably of getting "1'twice.

Math Answer

[tex] {1}\{36} [/tex]

Feel fre e too ask me

Please understand it

#BrainliestBunch

Which division is shown by the model?

Answers

Step-by-step explanation:

where the model step by step explanation

Which expression represents the number of apples Johnny has?

Johnny picks 14 apples and gives some to his friends.

Answers

Answer:

Step-by-step explanation:

Let the number of apples given to his friends = x

To represent the number of apples Johnny has, subtract the apples given to his friends from 14

Number of apples with Johnny = 14 - x

Identify the slope (m) and the y-intercept (b) of each line a) y= x+7 slope = y intercept = b) y = -3x slope = y intercept =

Answers

Answer:

a) y= x+7

The slope is 1 and the y intercept is 7

b) y = -3x

The slope is -3 and the y intercept is 0

Step-by-step explanation:

The slope intercept form of the equation of a line is

y = mx+b where m is the slope and b is the y intercept

a) y= x+7

The slope is 1 and the y intercept is 7

b) y = -3x

The slope is -3 and the y intercept is 0

what are the points for the equation y +2 = - 3/4 (x+4)

Answers

Answer:A(1,-5)

B(6,-8)

Step-by-step explanation:

A jar is filled with 74 different colored marbles, 10 of which are red, 38 of which are blue, and 26 of which are green. A player is asked to draw a single marble from the jar and if they draw a red marble they will win $20, if they draw a blue marble they will lose $10, and if they draw a green marble they will lose $5. You may round your answer to the nearest cent

Answers

Solution :

Colored marble            Prize

     Red ----  10               20

    Blue --- 38                 10

   Green --- 26               5

P(red)  =  10/74  =  5/37

P(blue)  =  38/74  =  19/37

P( green)  = 26/74  =  13/37

Therefore,

 X      →     Red          Blue      Green

P(X)           5/37        19/37      13/37

The expected values are :

[tex]$20 \times \frac{5}{37} - 10 \times \frac{19}{37} - 5 \times \frac{13}{37}[/tex]

= -4.189

Thus it is not profitable to play the game.

When the length of each side of a square is increased by 5 cm, its area is increased by 895 cm2. Find the length of a side before the increase.

The length of a side before the increase is...

Answers

Answer:

Step-by-step explanation:

Increasing the side length by 5 is represented as s + 5. To get the area of a square we multiply side times side: [tex](s+5)^2=s^2+10s+25[/tex]

The area of a square is s². If we are increasing this area s² by 895, then to represent this we have s² + 895.

Put that together into an equation:

[tex]s^2+10s+25=s^2+895[/tex] and simplify to

10s = 870 so

s = 87

Let's check that. The area before the addition to the side is 87*87 = 7569; the area after the addition of 5 cm is 92*92 = 8464. The difference is

8464 - 7569 = 895 so we did good!

Solve for x. Round to the nearest tenth.

Answers

Answer:

D. 14.1

Step-by-step explanation:

Use sin, opposite over hypotenuse.

sin67 = 13/X

solve for X

The number of days (d) is equal
to the dividing of the number of hours (h) and 24.
A. d = h - 24
B. h = 24 d
C. h = 24-h
D. h = 24 + h

Answers

Answer:

B

Step-by-step explanation:

[tex]d \: = \frac{h}{24} [/tex]

[tex]h \: = 24d[/tex]

Manuel y Sara recorren cierta distancia, y los tiempos que emplean están en la razón 21 / 15 . La velocidad de Manuel es de 56km/h. ¿Cuál es la velocidad de Sara?

Answers

Answer:

The speed of Sara is 78.4 km/h.

Step- by-step explanation:

Manuel and Sara travel a certain distance, and the times they use are in the ratio 21/15. Manuel's speed is 56km / h. What is Sara's speed?

Let the distance is d.

speed of Manuel = 56 km/h

time taken by Manuel = 21 t

time taken by Sara =  15 t

Let the speed of Sara is v.

Distance = speed x time

For Manuel:

d = 56 x 21 t ..... (1)

For Sara:

d = v x 15 t ..... (2)

From (1) and (2)

56 x 21 t = v x 15 t

v = 78.4 km/h

find the smallest number by which 252 must be multiplied to get a perfect square . also find the square root of the perfect square so obtained.​

Answers

We shall proceed in hit and trial method

Find some nearest multiples of 252

252(2)=504252(3)=756252(4)=1008252(5)=1260252(6)=1512252(7)=1764

Yes last one is square of 42

So smallest no is 7

Find the area of the parallelogram. 7 in. 12 in. [ ] Area = [?] in.​

Answers

Answer:

Area= Base x height

Area= 7 x 12 inch

Area= [tex]84inch^{2}[/tex]

Brainliest please

the sum of two positive consecutive integers is x. in terms of x, what is the value of the smaller of these two integers?​

Answers

Answer:

In terms of x, the smaller integer is (x - 1)/2

Step-by-step explanation:

Two consecutive positive integers can be written as:

n and (n + 1)

Where n is an integer and:

n > 0.

notice that the smaller of the two integers is n.

We know that the sum of these two integers is equal to x, then:

n + (n + 1) = x

we can rewrite this as:

2n + 1 = x

solving this for n (the smaller of the two integers) we get:

2n = x - 1

n = (x - 1)/2

In terms of x, the smaller integer is (x - 1)/2

I need answer LOL :(

Answers

.7 i think since it takes up most of the area
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