Annabelle invested $5,900 in an account paying an interest rate of 2% compounded continuously. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $7,440?

Answers

Answer 1

Answer:

Step-by-step explanation:

Continuous compounding has the form

[tex]A=Pe^{rt}\\ \\ t=\frac{ln\frac{A}{P}}{r}\\ \\ t=\frac{ln\frac{7440}{5900}}{0.02}\\ \\ t\approx 11.6\\ \\ t=12[/tex]

Answer 2

Therefore it will take 12 years for the value of the account to reach $7,440.

What is Compound Interest ?

Compound interest (or compounding interest) is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.

Annabelle invested amount $5900

Final Amount $7440

Rate = 2% compounded continuously

When compounded Continuously ,

[tex]\rm A = P e^{rt}\\\\\\t=\dfrac{ln \frac{A}{P}}{r}\\\\\\\\t=\dfrac{ln \frac{7440}{5900}}{0.02}\\\\t= 12[/tex]

it will take 12 years for the value of the account to reach $7,440.

To know more about Compound Interest

https://brainly.com/question/14295570

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Related Questions

Please help! It would mean a lot! I will give brainliest!
Prove your answer as to why 5 mm, 10 mm, and 1 mm will or will not form a triangle.

Answers

Answer:

Step-by-step explanation:

10-5=5 and 10+5=15 so it would need to be greater than 5 and less than 15 for those two

For 5 and 1 to work

5-1=4 and 5+1=6 so it would need to be greater than 4 and less than 6

And 10-1=9 and 10+1=11 so it would need to be greater than 9 and less than 11

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Allison lives in Kansas City, which has coordinates of 39o5'59" N, 94o34'41 W (39.0997o N, 94.5783o W). (Earth's radius is 3950 miles). What is Allison's angular velocity in radians/hour? What is Allison's linear velocity, with respect to the center of earth in miles per hour?

Answers

Answer:

Allison's angular velocity is approximately π/12 radians/hour

Allison's linear velocity, with respect to the Earth, v is approximately 802.52 miles/hour

Step-by-step explanation:

The coordinates of Kansas City where Allison lives = 39°5'5'' N, 94°34'41''W (39.0997° N, 94.5783° W)

The radius of the Earth, R = 3950 miles

The rate of rotation of the Earth ≈ 2·π radians in 24 hours

The angular velocity of the Earth, ω ≈ 2·π/24 radians/hour ≈ π/12 radians/hour

The angular velocity of the Earth = Allison's angular velocity ≈ π/12 radians/hour

Allison's angular velocity, ω ≈ π/12 radians/hour

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Allison's linear velocity, with respect to the Earth (0 linear velocity), v ≈ 802.52 miles/hour

Answer this correctly I’ll give brainalist + 10 points

Answers

the sum of supplementary angles is 180 degree

therefore

x +2x = 180°

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Answers

Answer:

A) No Association

Step-by-step explanation:

Your shoe size and your math grade have nothing whatsoever to do with each other, so the answer would be No Association.

Hope it helps!

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Answers

Answer:

4(pie)m^2

Step-by-step explanation:

area of a circle is r^2(pie)

so if the area of the circle is 4(pie) set that equal to r^2(pie)

the pies' cancell

and you are left with 4=r^2

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now the formula for the circumference is

2r(pie)

insert 2 for r

2(2)(pie)

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The set of whole numbers contains the set of rational numbers.
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True or False?
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Answers

Answer:

false -- 2/3 is not a whole number

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false

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Answers

First question answer: August and September

Second question answer: July

Valeria and Christina both want to run for class president. In order to appear on the ballot,
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signatures. How many signatures will they both have at that time? How many days will it
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Answers

Answer:

10 days

Step-by-step explanation:

What is the next number in the sequence below?

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Answers

It’s looks like your adding 2 so the next number would be 9 because 7 + 2 = 9
Hope this helps! Have a great day :)

Answer: 9

Step-by-step explanation:

It's odd numbers. Also the pattern is counting by 2 every time.

If Tony Has 30 cookies, 10 sodas, and 20 lollipops and he eats 10 cookies, drinks 5 sodas and 10 lollipops, what does he have now?

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B: No self control
C: Hypertension
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Answers

Answer:

C: Hypertension

Step-by-step explanation:

I'd say Hypertension would be the only educational way to answer this question in a scientific way. As u can see cookies,lollipops and sodas have a lot of sugar which could cause high blood pressure.

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Yes 1,6 is a solution

5. A football team plans to raise ticket prices next season by 9.5%. If each football admission ticket
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Answers

9.5% x 34.50= 3.28
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In ADEF, the measure of ZF=90°, the measure of ZE=53°, and DE = 57 feet. Find the
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E
539
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D
X

Answers

Answer:

Check pdf

Step-by-step explanation:

Look at this number sentence.
6 x ⬛️ =6/7
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Answers

Answer:

1/7

Step-by-step explanation:

You have to multiply across the top then the bottom.

A) 1/7
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Answers

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Answers

Answer:

angle C = 64 degrees

Step-by-step explanation:

sin C = cos B

angle C = 10x+4

angle B = 4x+2

angle C + angle B = 90 degrees

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simplify:

14x+6 = 90

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Answers

Answer:

sin

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Step-by-step explanation:

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D. Angle 5 and Angle 3 are Alternate Exterior Angles.​

Answers

D. Angle 5 and Angle 3 are Alternate Exterior Angles.​This Statement is false, they are co - interior angles.HOPE IT HELPS !!!

three million four hundred
ninety-three thousand
Word form

Answers

Answer:

You are correct, the number 3,493,000 is written in word form in your question.

Step-by-step explanation:

13 + 4 (2x + 5)

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Answers

Answer:

8x + 33

Solution:

13 + 4 (2x+5)

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X
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Answers

Answer:

Step-by-step explanation:

2 3 5 7 11 13 17 19 23 29

The sum = 129

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Answer:

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Step-by-step explanation:

c) 20 blank CD-Roms cost £3.20
How much do 75 CD-Roms cost?

Answers

Answer:

the cost of 75 CD Roms is £12

Step-by-step explanation:

The computation of the 75 CD roms cost is shown below:

Since it is mentioned that

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Answers

Answer: The chippy brand

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2.30 x 3 = 6.90

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Crunchy Goodness: $6.30

Now that we compared the Chip brans, its obvious that crunchy goodness is cheaper

Answer:

The crunchy goodness chips.

Step-by-step explanation:

If the crunchy goodness chips cost $6.30 for 3 bags and the chippy chips cost $2.30 for each bag, you do $2.30 times 3. That equals 6.90. So, $6.30 is less than $6.90 meaning that crunchy goodness chips have a lower price.

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Step-by-step explanation:

I’m guessing a, if I’m right can you mark brainliest!

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Answers

Answer:

this should be right

Step-by-step explanation:

Cora babysat for 3 1/2 hours and charged at $28. At the same hourly rate, what would she charge for 5 1/2 hours of babysitting?

Answers

42.9 goodluck :) ...

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Answers

Answer:

4

Step-by-step explanation:

(3-4)+5

-1+5

4

Use the figure for 1-4.
E
HT
F
K
А
D
B
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Answers

Answer: the ray is K to A

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(I would like to see the answer choices please)

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Answers

Answer:

x = 17

Step-by-step explanation:

Use the interior angle sum theorem which says:

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there are 6 sides, so the interior angle sum is 180(6 - 2) = 180 * 4 = 720.

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