Brody is going to invest in an account paying an interest rate of 3.7% compounded monthly. How much would Brody need to invest, to the nearest hundred dollars, for the value of the account to reach $34,000 in 13 years?​

Answers

Answer 1

Answer:

21000

this is the answer

Answer 2

The value of the account is to reach $34,000 in 13 years with a rate of 3.7 compounded monthly is $ 21,000.

What is compound interest?

Compound interest is the interest on a loan or deposit calculated based on the initial principal and the accumulated interest from the previous period.

Brody is going to invest in an account paying an interest rate of 3.7% compounded monthly.

The rate of interest yearly will be

[tex]\rm Yearly \ rate = \dfrac{3.7}{12}\\\\Yearly \ rate = 0.308 \%[/tex]

The value of the account is to reach $34,000 in 13 years.

Amount (A) = $ 34,000

Time (t) = 13 years

Rate (r) = 0.308 %

Then the principal amount will be

[tex]\begin{aligned} A &= P (1 + \dfrac{r}{100})^{12*t}\\\\34000 &= P (1 + \dfrac{0.308}{100}) ^{13 * 12}\\\\34000 &= P (1.00308)^{156}\\\\P &= 21,044 \approx 21,000 \end{aligned}[/tex]

The principal amount is $21,000.

More about the compound interest link is given below.

https://brainly.com/question/25857212


Related Questions

When making bread from scratch, the receptor calls for 4/5 cup of water. If you need to make a smaller portion of the recipe, how much water would you need in order to make only 1/12 th of the recipe?

Give answer as a fraction, reduced to lowest temrs

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Answer:

When making bread from scratch, the recipe calls for 2/3 cup of water

Step-by-step explanation:

in may a coat costs £64

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we need more information

Could someone please tell me how to graph y=−4x+3

Answers

Answer:

Ok, so when you graph, you want to make sure your point are right. 4, would be im guessing +4, so you would find +4, on your graph across the X axis. Keep that in mind. Then find +3, across the Y axis on your graph. Join the points, and you have your answer.

Step-by-step explanation:

I hope this helps you

Evaluate.
2 • 9 – 1 =

Answers

Answer:

17

Step-by-step explanation:

You have to multiply 2 and 9 first, so the product is 18. Now you have to subtract that from 1 itself and therefore, the final answer is 17.

Hope this helps you!?!

find the length of an arc of 40 degrees in a circle with an 8 inch radius.​

Answers

Answer:

16π/9

Step-by-step explanation:

40°/360° = 1/9

40° is 1/9 of a circle

Arc length = 1/9 of circumference = (1/9)2πr = 16π/9

Please help I have no idea what I'm doing with any of this!!

Answers

Answer: you are doing hell jesus

Step-by-step explanation:

WZ is an altitude of triangle XYZ. What was the first in constructing the altitude WZ for triangle XYZ? Place the compass point at and draw an arc that intersects segment twice.

Answers

Answer:

1. Z

2. XY

Step-by-step explanation:

30 PIONTS
Sam walked for 30 minutes more than Jessica. Courtney walked twice as long as Sam. Courtney walked for 80 minutes. The equation 2(x + 30) = 80 describes this situation.

What does x represent?

Answer choices-

the number of minutes that Jessica walked

The number of minutes that Sam walked

The number of minutes that Courtney walked

The total number of minutes the girls walked combined

Answers

Answer:

a. the number of minutes jessica walked

Step-by-step explanation:

because it doesnt necessarily tell us how much minutes she walked.

Answer:

EXAMPLE

Pete bought a shirt on sale for $

18

18, which is one-half the original price. What was the original price of the shirt?

Solution:

Step 1. Read the problem. Make sure you understand all the words and ideas. You may need to read the problem two or more times. If there are words you don’t understand, look them up in a dictionary or on the Internet.

In this problem, do you understand what is being discussed? Do you understand every word?

Step 2. Identify what you are looking for. It’s hard to find something if you are not sure what it is! Read the problem again and look for words that tell you what you are looking for!

In this problem, the words “what was the original price of the shirt” tell you what you are looking for: the original price of the shirt.

Step 3. Name what you are looking for. Choose a variable to represent that quantity. You can use any letter for the variable, but it may help to choose one that helps you remember what it represents.

Let

p

=

p= the original price of the shirt

Step 4. Translate into an equation. It may help to first restate the problem in one sentence, with all the important information. Then translate the sentence into an equation.

The top line reads:

Step 5. Solve the equation using good algebra techniques. Even if you know the answer right away, using algebra will better prepare you to solve problems that do not have obvious answers.

Write the equation.

18

=

1

2

p

18=12p

Multiply both sides by 2.

2

18

=

2

1

2

p

2⋅18=2⋅1Step 3. Name what you are looking for. Choose a variable to represent that quantity. You can use any letter for the variable, but it may help to choose one that helps you remember what it represents.

Let

p

=

p= the original price of the shirt

Step 4. Translate into an equation. It may help to first restate the problem in one sentence, with all the important information. Then translate the sentence into an equation.

The top line reads:Step 5. Solve the equation using good algebra techniques. Even if you know the answer right away, using algebra will better prepare you to solve problems that do not have obvious answers.

Write the equation.

18

=

1

2

p

18=12p

Multiply both sides by 2.

2

18

=

2

1

2

p

2⋅18=2⋅12p

Simplify.

36

=

p

36=pStep 6. Check the answer in the problem and make sure it makes sense.

We found that

p

=

36

p=36, which means the original price was

$36

$36. Does

$36

$36 make sense in the problem? Yes, because

18

18 is one-half of

36

36, and the shirt was on sale at half the original price.Step 7. Answer the question with a complete sentence.

The problem asked “What was the original price of the shirt?” The answer to the question is: “The original price of the shirt was

$36

$36.”

If this were a homework exercise, our work might look like this:

The top reads,

TRY IT

What do you define the circumference of a circle asap!!!

Answers

Answer:

to find the circumfrence of a circle you need to do 2 times pi times the radus. the circumfrence of a circle is the outside rim of the circle.

Step-by-step explanation:

-4x -3 = -19
I'm having trouble with algebra please help.

Answers

Answer:

Step-by-step explanation:

-4x - 3 = - 19

Bringing like terms on one side

-4x = - 19 + 3

-4x = - 16

x = - 16/-4

x = 4

Answer:

x=4

Step-by-step explanation:

-4x-3=-19

add -3 to the right side of the equation so -19+3

which will give you -16

then  divide by -4

so x=4

Choose the properties that can be used to rewrite 2a+(10-4)
A. Distributive property
B. Commutative property
C. Associative property

Answers

The Commutative property can be used to rewrite 2a + (10 - 4)

Commutative property

This law simply states that with addition and multiplication of numbers, you can change the order of the numbers in the problem and it will not affect the answer.

The commutative property is satisfied not only in addition but also in multiplication. It is given by:

a + b = b + a

a * b = b * a

2a + (10 - 4) = 2a + 6

2a + 6 = 6 + 2a

The Commutative property can be used to rewrite 2a + (10 - 4)

Find out more on commutative property at: https://brainly.com/question/2475734

Find the value of x please also this is geometry

Answers

Given:

A figure of a triangle.

To find:

The value of x.

Solution:

In a triangle, angle bisectors intersect each other at a point which is know as incenter. This point is equidistance form the each side.

Using the above property, we get

[tex]4x-2=6x-8[/tex]

[tex]4x-6x=2-8[/tex]

[tex]-2x=-6[/tex]

Divide both sides by -2.

[tex]x=\dfrac{-6}{-2}[/tex]

[tex]x=3[/tex]

Therefore, the value of x is 3.


When solving any expression, what operation do we do first multiplication or division?

Answers

Answer:

Division

Step-by-step explanation:

BIDMAS

Brackets, indices, division, multiplication, addition, subtraction

or

BODMAS

Brackets, operations, division, multiplication, addition, subtraction

what is 12 times 6 will give brainiest

Answers

Answer:

72

Step-by-step explanation:

12 6 times

Answer:

it's 72 :>

Step-by-step explanation:

Follow the pattern and find the missing number 0.85 0.86 0.88

Answers

Answer:

0.91

Step-by-step explanation:

Its 0.91 because 0.85 + 1 = 0.86 + 2 = 0.88 + 3 = 0.91


Simplify the following equation: 5a + 3b = 5 +10a +-6b

Answers

Answer:

a=-1+[(9b)/5]

b=(5/9)+[(5a)/9]

Step-by-step explanation:

subtract 8 - 6 2/3 in the simplest form

Answers

Answer:

The answer is [tex]\frac{4}{3}[/tex] or 1 [tex]\frac{1}{3}[/tex]

Step-by-step explanation:

Nine times the difference of 5 and y

Answers

9(5-y) hope this helped

19 e) Find the value of x. ASAP. Will give brainliest!

Answers

Answer:

X= 40

Step-by-step explanation:

A triangle always equals 180°. In order to find x, add 75 and 65,

75 + 65 =140

then divide 140 and 180,

180 / 140 = 40

then in order to make sure it's the right answer add 75,65, and 40 together. If it equals to 180, then it's the right answer.

4. Mary bought 12 pounds of blueberries to make 5 pies. She divided the blueberries
many pounds of blueberries were in each pie?
2.4 pounds
5. Write each quotient as a fraction or mixed number.
Quot
Problem
4:5
5:4
12:20

Answers

Answer:

Step-by-step explanation:

12/5=2.4 lb of blueberry in each pie

4/5=4/5 not a mixed number

5/4=1 1/4

12/20=3/5

PLZ HELP ITS BEING TIMED PLZ SOMEONE ANSWER!!!!!

Answers

Answer: First, you identify how many rises and runs the line is from each point on a graph (intersection). Then you take the y's and the x's and do y2-y1/x2-x1 to get the slope!

Help me out with question 10 (geometry)

Answers

Step-by-step explanation:

make it braintliest please

Answer:

x=29

Step-by-step explanation:

180=2x -13 +7x-68

combine like terms

180 = 9x-81

add 81 on both sides

261 =9x

divide 9 on both sides

29 =z


The system when solved is.

Answers

Answer:

(-19, -7)

Step-by-step explanation:

y=x+12

x+12+x=-26

2x=-14

x=-7

y + x = -26

y -7 = -26

y = -19

bejamin writes an expresssion for the sum of 1 cubed 2 cubed and 3 cubed what is the value of the expresssion​

Answers

Answer:

36

Step-by-step explanation:

1^3 + 2^3 + 3^3 = 1 + 8 + 27 = 36

A car travelled 217 miles in three and a half hours. How much longer will it take for the car to travel another 334.8 miles?

Answers

it will travel about 4 more hours

PLEASE HELP DUE IN 20 MINUTES 20 POINTS
The admission fee to an amusement park is $23. It costs an additional d dollars to rent a locker to hold your
belongings. The total cost for 4 people to enter the amusement park and each rent a locker is $104. How
much does it cost for one person to rent a locker?

Answers

Answer:

$3

Step-by-step explanation:

Multiply 4 by 23 because there are 4 people. Then subtract that from 104 to find the overall cost of lockers. That cost is $12. Divide that by 4 to find each individual cost therefore getting our answer of $3.

Answer:

3$

Step-by-step explanation

admission fee * # of people

23*4=92

total cost - total cost of admission fee

104-92=12

leftover money / # of people = cost for 1 person

12/4=3

For one person it cost 3$

The total number of employees in a certain company remains constant. Due to turnover, on average, the company hires 250 men and 200 women each year. On average, a woman stays with the company 50% longer than a man does. What proportion of the total employees is women?

Answers

Answer: [tex]\frac{2}{3}[/tex] of the total employees is women.

Step-by-step explanation:

Given :  total number of employees remains constant.

Men hired = 250 per year

Women hired = 200 per year

Women stay 50% longer,

The number of women is: [tex]200+\frac{50}{100}\times 200=300[/tex]

The number of men is: 250

Thus total employees = 300 + 250 = 550

Proportion of women = [tex]\frac{\text {Number of women}}{\text {total employees}}=\frac{300}{550}=\frac{2}{3}[/tex]

Thus [tex]\frac{2}{3}[/tex] of the total employees is women.

Who’s good at geometry doing angles and naming them

Answers

Answer:

Step-by-step explanation:

1). Angle BFC and angle DFE,

  Vertical angles.

2). Angle BFA and angle DFE,

  Neither

3). Angle BFC and angle CFD,

  Linear pair of angles.

4). Angle AFE and angle AFC,

  Linear pair of angles.

5). Angle BFE and angle CFD,

  Vertical angles.

6). m∠AFB + m∠AFE + m∠EFD = 180° [Linear angles]

    Since, m∠AFB = m∠EFD = 50°

    Therefore, 50° + m∠AFE + 50° = 180°

    m∠AFE = 180 - 100

                  = 80°

7). m∠DFC = m∠BFE [Vertical angles]

    m∠BFE = m∠BFA + m∠AFE

                 = 50° + 80°

                 = 130°

    Therefore, m∠DFC = 130°

Help pleaseee like ASAP

Answers

Answer: B,C,E,F

Step-by-step explanation:1/6 times 5 on top and bottom to get choice B. 1/6 times 3 on top and bottom to get choice  C . 1/6 times 4 on top and bottom to get choice E .1/6 times 2 on top and bottom to get choice F.

Write the following equation symbolically.

The sum of h and 5 is equal to 8 less than 6 times y.

Answers

Answer:

I believe the answer is

h + 5 = 8 < 6y

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