3. You want to have $4000 in your savings account after 2 years. Find the amount you should deposit for each of the situations described below. a. The account pays 3% annual interest compounded monthly. b. The account pays 4% annual interest compounded continuously.​

Answers

Answer 1

Answer:

Part A)

About $3767.34.

Part B)

About $3692.47.

Step-by-step explanation:

Part A)

Recall that compound interest is given by the formula:
[tex]\displaystyle A = P\left(1+\frac{r}{n}\right)^{nt}[/tex]

Where A is the final amount, P is the initial amount, r is the interest rate, n is the number of times compounded per year, and t is the number of years.

To obtain $4000 after two years, let A = 4000 and t = 2.

Because the account pays 3% interest compounded monthly, r = 0.03 and n = 12.

Substitute and solve for P:

[tex]\displaystyle \begin{aligned} (4000) & = P\left(1+\frac{(0.03)}{(12)}\right)^{(12)(2)} \\ \\ P & = \frac{4000}{\left(1+\dfrac{(0.03)}{(12)}\right)^{(12)(2)}} \\ \\ & \approx \$3767.34\end{aligned}[/tex]

In concluion, about $3767.34 should be deposited.

Part B)

Recall the formula for continuous compound:

[tex]\displaystyle A = Pe^{rt}[/tex]

Where e is Euler's number.

Hence, let A = 4000, r = 0.04 and t = 2. Substitute and solve for P:

[tex]\displaystyle \begin{aligned}(4000) & = Pe^{(0.04)(2)} \\ \\ P & = \frac{4000}{e^{(0.02)(4)}} \\ \\ & \approx \$3692.47 \end{aligned}[/tex]

In conclusion, about $3692.47 should be deposited.


Related Questions

9
These lists show the ages of attendees in a yoga class and a dance dass
Yoga: 18, 31, 17, 14, 20, 33, 36
Dance: 20, 47, 23, 38, 26, 42, 30
Select from the drop-down menus to correctly complete each statement about the attendees in the two cases
The median age of the attendees in the yoga class is
the median age of the attendees in the dance
The range of ages of the attendees in the yoga class is
the range of ages of the attendees in the conce

Answers

Answer:

median is 20

Step-by-step explanation:

due to both of them having it in there 1 time

Answer:

The Median Age: Yoga Class (31)      Dance Class (30)

The Range: Yoga Class (17-44)        Dance Class (20-47)

Step-by-step explanation:

Write the recursive formula for the following sequence 2, 8, 32, 128

Answers

Answer:

an+1 = 4an

Step-by-step explanation:

an+1 = 4an        commonratio:   r=4

2

2x4=8

8x4=32

32x4=128

solve following problem​

Answers

Answer:

p²=h²-b²

p² =10²-6²

p² =100-36

p²=64

p=( √8)²

p=8

Let [tex]x[/tex] and [tex]y[/tex] be the length and height, respectively, of the rectangle.

Let the bottom left vertex be the origin (0, 0), and position the triangle so that the bottom leg lies on the horizontal axis in the [tex]x,y[/tex]-plane. The hypotenuse of the triangle then lies on the line through (0, 0) and (6, 8), with slope 8/6 = 4/3. Then for some [tex]x[/tex] between 0 and 6, we have [tex]y = \frac43x[/tex].

This means for some fixed distance [tex]x[/tex] from the origin, the rectangle has length [tex]6-x[/tex] and height [tex]\frac43x[/tex]. Thus the area of the rectangle can be expressed completely in terms of [tex]x[/tex] as

[tex]A(x) = (6-x) \times \dfrac43x = 8x - \dfrac43 x^2[/tex]

Non-calculus method:

Complete the square to get

[tex]8x - \dfrac43 x^2 = -\dfrac43 (-6x + x^2) = 12 - \dfrac43 (9 - 6x + x^2) = 12 - \dfrac43 (x-3)^2[/tex]

which is maximized when the quadratic term vanishes at [tex]x=3[/tex], giving a maximum volume of [tex]\boxed{12\,\mathrm{in}^2}[/tex].

Calculus method:

Differentiate [tex]A(x)[/tex] and find the critical points.

[tex]A'(x) = 8 - \dfrac83 x = 0 \implies x = 3[/tex]

Differentiate again to check the sign of the second derivative at the critical point.

[tex]A''(x) = -\dfrac83 \implies A''(3) = -\dfrac83 < 0[/tex]

which indicates a local maximum at [tex]x=3[/tex]. Hence the maximum area is [tex]A(3) = 12[/tex], as before.

What is the value of X?

Answers

Answer:

x=7

Step-by-step explanation:

In a 45 45 90 triangle the two legs are equal so you set 33=5x-2 and then solve the equation.

please help i will mark as brainlest please help me

the answers are supposed to be
a) 8.37 cm b)54.5 cm c) 10.4 cm

Answers

Answer:

A.

Step-by-step explanation:

Here is how I found it:

Flip the picture 180°.Then, measure the angle.

Required:

The angle is 90°.If you don't pay attention, you might mistake it for a 150° angle.

Correct choice is A.

A teacher teaches 8 students how to fold an origami model. Each of these students goes on to teach 8
students of their own how to fold the same model. If this teaching process goes on for 6 generations,
how many people total will know how to fold the origami model

Answers

Answer:

8x8= 64

64x6= 384

384 is the answer

Let me know if i helped!

FIRST CORRECT GETS BRAINLIEST

Answers

Answer:

First choice.

Step-by-step explanation:

cos 11π/6 = cos π/6 = √3/2

So cos 11π/12 =   √(1 + cos 11π/6) / √2

= √(1 + √3/2) / √2

= √(2 + √3) / 2.

Find the value of x. 1222° 0 111 O 55 O 42 O 138​

Answers

Based on the outside angles theorem, the value of x is: 42°

What is the Outrside Angles Theorem?

The outside angles theorem states that the measure of the angle that is formed outside a circle when two tangents or secants intersect is half the measure of the diffrence of the intercepted arcs.

Given the following:

One arc measure = 222°The second arc measure = 360 - 222 = 138°

Therefore, based on the outside angles theorem, we would have the following:

x = 1/2(222 - 138)

x = 42°

Learn morea about outside angles theorem on:

https://brainly.com/question/11356657

At the store grapes are on sale. You can buy 3 pounds for
$2 dollars. At that rate, how many pounds can you buy
for $8? Show how you know.

Answers

Answer:

If you buy 3 pounds for $2, and have 8 dollars to spend, then multiply 2x4 to get $8. Since we multiplied by 4 for the money, we do the same thing for the pounds of grapes. So, we multiply 3x4 to get 12 pounds. So, you can buy 12 pounds of grapes for $8.

Step-by-step explanation:

Hope this helps! :)

PLEASE MARK ME AS BRAINLIEST I REALLY WANT TO LEVEL UP.

What is 1 * 2 = + * 1 = + + 2 2 + 1 8 5 / 9
Whoever answers it gets grevious

Answers

Answer:

Can you use a specific question please

Step-by-step explanation:

Answer: = 17 7/

Step-by-step explanation:

8 1/5 + 9 1/2 = 177/

10

= 17 7/

What is the coefficient of x in 4+[tex]3y^{2}[/tex]+x?

ASAP PLS ANSWER

Answers

Hello!

Please remember that

The coefficient is the number before a variable.

Example:

4T+5H

In this example, the coefficient of T is 4, and the coefficient of H is 5.

So let's identify the coefficient of x.

It seems like x doesn't have a coefficient, but it does.

It's equal to 1.

Hope everything is clear.

Let me know if you have any questions!

#KeepLearning

:-)

Mutilply lookin for the best results

Answers

Answer:

D, [tex]\frac{7(x-4)}{6}[/tex]

Step-by-step explanation:

Basically you have to simplify the (x² - 16). Since it is the difference of 2 squares, it's simplified as (x + 4)(x - 4). Now that everything is simplified, you can start doing the multiplication.

[tex]\frac{(x+4)(x-4)}{6x} *\frac{7x}{(x+4)}[/tex], You can cancel out the (x+4)'s

[tex]\frac{(x-4)}{6x} *{7x}[/tex], There is a common factor between 7x and 6x. The common factor is x. So cancel out both "x".

You end up with this, [tex]\frac{7(x-4)}{6}[/tex]

Betsy, a recent retiree, requires $5,000 per year in extra income. She has $70,000 to invest and can invest in B-rated bonds paying 13% per year or in a certificate of deposit (CD) paying 5% per year. How much money should be invested in each to realize exactly $5,000 in interest per year?

A. The amount of money invested at 13% = ___
B. The amount of money invested at 5% = ___

Answers

A. The amount of money that Betsy should invest n B-rated bonds at 13% is $20,000.

B. The amount of money that Betsy should invest in a certificate of deposit (CD) at 5% is $50,000.

How are CDs different from Bonds?

Certificates of deposit (CDs) are short-term investments in financial institutions (money market) while Bonds are long-term investments in the stock exchange (capital market).

CDs pay reduced interest rates when compared to bonds'.

Data and Calculations:

The amount required per year in interest = $5,000

Total investible funds = $70,000

Interest rate of B-rated bonds = 13%

Interest rate in CD = 5%

Since Betsy is not interested in realizing more than $5,000 in interest per year, she should invest $50,000 in the CD and $20,000 in the B-rated bonds.

The interest in CD = $2,500 ($50,000 x 5%)

The interest in bonds = $2,600 ($20,000 x 13%)

Total interest in CD and bonds = $5,100 ($2,500 + $2,600)

Thus, Betsy should invest $50,000 in the CD and $20,000 in the B-rated bonds.

Learn more about CDs and Bonds at https://brainly.com/question/4853331

the length of a rectagle is 6 ft longer than its width. if the perimeter of the rectangle is 64 ft, find its length and width

Answers

Answer:

19 and 13

Step-by-step explanation:

width = x

length = x + 6

2x + 2(x + 6) = 64

2x + 2x + 12 = 64

4x = 64 - 12

4x = 52

x = 13

x + 6 = 19

Answer:

19 and 13

Step-by-step explanation:

Find the mean of the data.

55,64,58,43,49,67

Answers

Answer=56 because we take sums of the number we divide by how many number are there (55+64+58+43+49+67)all divide by 6 because we have six number so we get 56

Answer:

56

Step-by-step explanation:

Step 1: Order the data

43,49,55,58,64,67

Step 2: Count all numbers and add them up

43+49+55+58+64+67=336 and we have 6 numbers in total so... 336 ÷ 6

Step 3: Divide!

336 ÷ 6 = 56

Hope this helps you!

The giraffes at the Liberia zoo eat 75 pounds of food per day, and 52.5 pounds per day comes from acacia leaves. How much of their diet comes from other types of leaves?

Julia, the zookeeper, used the equation 52.5 + x = 75 to find the answer. Which equation is an equivalent equation that can be used to solve the problem?

Answers

Answer:

Step-by-step explanation:

75-52.5=x

ans this sum plsss . ​

Answers

Answer:

See below ↓

Step-by-step explanation:

3.

2/512/253/73/83/10

4.

Draw a number of spacing 0.25 eachStart from -1 to 1-2/8 = -0.25 [mark on line]3/6 = 0.5 [mark on line]

5.

Midpoint of -2/5 and 1/2M = [-2/5 + 1/2] / 2M = [1/10] / 2M = 1/20

please i need help

This figure consists of a rectangle and semicircle. What is the area of this figure? Use 3.14 for π. Enter your answer to the nearest hundredths place in the box.

Answers

Answer:

Step-by-step explanation:

firstly the area for teh rectangle is 12 x 15 = 18are0

the area for the circle is 113.1 sq inches because  pi x r squared

find the value of x in the diagram

Answers

Answer: there is something off screen i cant see so i cant help you 183- what?

Step-by-step explanation:

how can I be smart wear I don't need to cheat to get high grades

Answers

try your best

Step-by-step explanation:

Answer:

Study!

Step-by-step explanation:

12x12x77-38x 25 answer pls

Answers

Answer:

10138 is the answer to 12x12x77-38x 25

Step-by-step explanation:

I added these step by step 12x12 = 144 x 77 = 11088 -38x 25 10138

10138




This is the answer !!!!!!

CAN SOMEBODY HELP ME SOLVE THIS EQUATION

Answers

it seems to be impossible
1) 400
2) 2 years
3) 200
4) 1002

The regular price of a color TV is $539.22. During a sale, Hill TV is selling the TV for $456.56. Determine the percent decrease in the price of the TV

Answers

Hey there!

Answer: = 15.3296% decrease

How to Calculate Percentage Decrease

Subtract starting value minus final value

=> 539.22 - 456.56

=> 79.66

Divide that amount by the absolute value of the starting value

=> 79.66 ÷ 539.22

=> 0.153296

Multiply by 100 to get percent decrease

=> 0.153296 × 100

=> 15.3296%

If the percentage is negative, it means there was an increase and not an decrease.

Therefore, percentage decrease is 15.3%

no spammers pls and also giving brainliest to correct answer

Answers

b. triangles b & c
you can tell from the angles being the same and the measurements of triangle c being 2/3s of triangle b's measurements.
Triangle B and C are similar
The sides are in the ratio 3:2
And the angles and same: 37 degree, 53 degree and 90 degree

I need lateral surface

Answers

Answer:

un rhgdb tennis felicidades ID remix estoy do do ID do ID Rockband do ID do TX

Which values from the set {-8, -6, -2, 0, 2, 4, 8} satisfy the following inequality?

Answers

he was never late negative to affirmative

Evan owns a small business selling ice-cream. He knows that in the last week 83
customers paid cash, 8 customers used a debit card, and 2 customers used a credit
card.
Based on these results, express the probability that the next customer will pay with a
debit card or a credit card as a percent to the nearest whole number.

Answers

The probability that the next customer will pay with a debit card or a credit card is 12%.

What is the probability that the next customer would pay with a debit card or a credit card?

Probability determines the chances that an event would happen. The probability the event occurs is 1 and the probability that the event does not occur is 0.

The probability that the next customer would pay with a debit card or a credit card = (number of customers that paid with a debit card + number of customers that paid with a credit card) / total number of customers

(8 + 2)/ 83 = 0.12 = 12%

To learn more about probability, please check: https://brainly.com/question/13234031

Evaluate 14 - (2x - y), when x = 3 and y = 2 - -
.A) -7
.B) 10
.C) 13
.D) 18
20 POINTSS​

Answers

10

solve:

14 - (2(x) - y)

given x : 3, y : 2, insert the following

14 - (2(3) - 2)14 - (6-2)14 - 410

[tex]\\ \rm\rightarrowtail 14-(2x-y)[/tex]

[tex]\\ \rm\rightarrowtail 14-2x+y[/tex]

Put values

[tex]\\ \rm\rightarrowtail 14-2(3)+2[/tex]

[tex]\\ \rm\rightarrowtail 14-6+2[/tex]

[tex]\\ \rm\rightarrowtail 10[/tex]

Find the rule from the given table

A.Divide by 2
B.Divide by 3
C.Divide by 5
D.Divide by 6

Answers

Answer:

the answer b

Step-by-step explanation:

te answer b because I guessed

It takes a boat 2 hours to go 16 miles downstream with the current and 4 hours to return against the current. Find the speed of the boat in still water and the speed of the current.

Answers

let's recall that d = rt, or namely distance = rate * time.

b = speed of the boat

c = speed of the current

now, we know that going downstream the boat went 16 miles total, that's going only one way, so the distance the boat travels downstream as well as upstream to return is 16 miles flat.

when going downstream, the boat is not really going at "b" speed, is really going at "b + c" speed, because the current is adding its speed to it, so is really going faster than "b".

when going upstream, the boat is not really going at "b" speed" either, is really going slower at "b - c" speed, because the current is against it and thus subtracting speed from "b".

let's take a look at those in a table

[tex]\begin{array}{lcccl} &\stackrel{miles}{distance}&\stackrel{mph}{rate}&\stackrel{hours}{time}\\ \cline{2-4}&\\ Downstream&16&b+c&2\\ Upstream&16&b-c&4 \end{array}\qquad \qquad \begin{cases} 16=(b+c)(2)\\\\ 16=(b-c)(4) \end{cases} \\\\\\ \stackrel{16}{(b+c)(2)}~~ = ~~\stackrel{16}{(b-c)(4)}\implies 2b+2c~~ = ~~4b-4c\implies 2c=2b-4c[/tex]

[tex]6c=2b\implies \cfrac{6c}{2}=b\implies \boxed{3c=b} \\\\\\ \stackrel{\textit{substituting on the 1st equation}}{16~~ = ~~(\stackrel{b}{3c}+c)(2)}\implies 16=4c(2)\implies 16=8c \\\\\\ \cfrac{16}{8}=c\implies \blacktriangleright \stackrel{mph}{2}=c \blacktriangleleft~\hspace{10em}3(2)=b\implies \blacktriangleright \stackrel{mph}{6}=b \blacktriangleleft[/tex]

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