Jimmy invests $2500 in an account with a 5% interest rate, making no other deposits or withdrawals. What will Jimmy’s account balance be after 8 years if the interest is compounded 6 times each year?
URGENT PLEASE

Answers

Answer 1

Answer:

We conclude that the total amount accrued, principal plus interest,  from compound interest on an original principal of  $2500 at a rate of 5% per year compounded 6 times per year over 8 years is $3723.38.

Step-by-step explanation:

Given

Principle P = $2500

Interest rate r = 5% = 0.05

Time period t = 8 years

To determine

Accrue Amount A = ?

Using the compound interest equation

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

where:

A represents the Accrue Amount

P represents the Principal Amount

r represents the interest rate

t represents the time period in years

n represents the number of compounding periods per unit t

Important tip:

Given that the interest is compounded 6 times each year, therefore, the value of n = 6.

now substituting P = 2500, r = 0.05, t = 8 and n = 6 in the equation

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

[tex]A=2500\left(1+\frac{0.05}{6}\right)^{\left(6\right)\left(8\right)}[/tex]

[tex]\:A=2500\left(1+\frac{0.05}{6}\right)^{48}[/tex]

[tex]A=2500\times 1.48935[/tex]      ∵  [tex]\left(1+\frac{0.05}{6}\right)^{48\:\:}=1.48935[/tex]

[tex]A=\:3723.38[/tex] $

Therefore, we conclude that the total amount accrued, principal plus interest,  from compound interest on an original principal of  $2500 at a rate of 5% per year compounded 6 times per year over 8 years is $3723.38.


Related Questions

Christie has $3.80 in quarters and dimes. She has three more dimes than quarters. How many of each coin does she have?

Answers

Answer:

Quarters = 10

Dimes = 13

Step-by-step explanation:

Given that :

Quarters = $0.25

Dimes = $0.10

Total value =. $3.80

Let :

Quarters = a

Dimes = a + 3 (3 more dimes Than quarters)

0.25a + 0.10(a + 3) = 3.80

0.25a + 0.10a + 0.3 = 3.80

0.35a = 3.80 - 0.3

0.35a = 3.5

a = 3.5 / 0.35

a = 10

Quarters = a = 10

Dimes = a + 3 = 10 + 3 = 13

joão has 7 apples if he gives joana 3 and matilde 4 how many did he have?

Answers

He had 7 and now he has 0.

What is the sum? Question 1 of 60

Answers

Answer:

A

Step-by-step explanation:

2+3=5 and if you add 1 to 7 you get 8 and that would make a whole and whole is 1 so you add 1 to 5

Answer:

2 1/8 + 3 7/8 = 6

A. 6

Step-by-step explanation:

2 + 3 = 5

1/8 + 7/8 = 8/8

8/8 = 1 whole

5 + 1 = 6

HOPE THIS HELPS!!!!!

Please Answer and Explain Thanks

The equation y+4x=100 represents your distance y (in meters) from the
finish line x seconds after you begin your leg of a relay race. The equation
y+3.8x=96 represents your opponent’s distance from the finish line.
How far do you need to run until you catch up to your opponent?

Answers

I have no skins to one game but it crashes when you

Write the vertex form of the quadratic equation.
y=x – 6x + 5

Answers

Answer:

I love algebra anyways

The ans is in the picture with the  steps how i got it

(hope this helps can i plz have brainlist :D hehe)

Step-by-step explanation:

Answer:

y= (x-3)^2 -4

Step-by-step explanation:

7/10 - ___ + 3/2 = 6/5 ??????
Help me please

Answers

Answer:

1

Step-by-step explanation:

make all fraction have the same denominator:

7/10 - x + 15/10 = 12/10

isolate x: 12/10 - 7/10 - 15/10 ---> -x = -10/10

divide by 1 x = 10/10 or 1

x = 1

Answer:

1

Step-by-step explanation:

Let the no. be x

7/10-x+3/2=6/5

-x=6/5-3/2-7/10

-x=-10/10

-x=-1

x=1

Hope it helps

which of the expressions bellow is equal to -3x - 39

Answers

Answer:

117

(-3) × (-39) = 117

Step-by-step explanation:

hope it helps!

Simplify: 2m – 6 ≤ 18.
Group of answer choices

m ≥ 6

m ≤ 12

m ≤ 6

m ≥ 12

Answers

Answer:

D. m≥12

Step-by-step explanation:

You first need to transfer the -6 over to the 18. The negative turns into a positive, therefore you add. 18+6 is 24. You now have 2m≤24. Bring the 2 over. You are dividing. 24/2 is 12.

Answer:

The answer is D.

Step-by-step explanation:

~Hoped this helped~

find the value of X ​

Answers

your answer would be X equals 50.6cm

Answer:

x = 50.6 cm

Step-by-step explanation:

ΔMAB ≈ ΔNMP

set up a proportion:  MA / MN = MB / MP

MA = 46.2 - 14

MA = 32.2

32.2 / 46.2 = x / 72.6

cross-multiply:

46.2x = 2337.72

x = 50.6

anyone knows this?!!?

Answers

Answer:

is that just 1/2 lol i think but if u want add me on disc Andreww#6506

Step-by-step explanation:

Solve for a

Pythagorean theorem

Answers

[tex] {a}^{2} + {b}^{2} = {c}^{2} [/tex]

[tex] {c}^{2} - {b}^{2} = {a}^{2} [/tex]

[tex] {8}^{2} - {6}^{2} = {28}^{2} [/tex]

[tex] \sqrt{28} [/tex]

Answer:

[tex]\boxed{\sf{a=\sqrt{28} }}[/tex]

Step-by-step explanation:

Pythagorean theorems can be applied to solve this problem.

Pythagorean theorem:

[tex]\rightarrow \sf{a^2+b^2=c^2}[/tex]

⇒ c²-b²=a²

8²-6²=28²

Solve.

PEMDAS stands for:

ParenthesisExponentsMultiplyDivideAddSubtract

[tex]\sf{8^2-6^2}[/tex]

Solve by exponents from left to right numbers.

[tex]\sf{8^2=8*8=64}[/tex]

[tex]\sf{6^2=36}[/tex]

Then, subtract.

[tex]\sf{64-36=\boxed{\sf{28}}[/tex]

a=√28

Therefore, the correct answer is a=√28.

I hope this helps you! Let me know if my answer is wrong or not.

Draw the image of the following segment after a dilation centered at the origin with a scale factor of 2/3

Answers

Answer:

When we have a point (a, b) and we have a dilation of scale factor K centered at the origin, the new coordinates of this point will be:

(K*a, K*b)

In this case, we can find the original coordinates of the endpoints of the original segment.

Then apply the dilation to these points, and then draw a new segment whose endpoints are the dilated points.

The endpoints of the original segment are (i can not see the image very well, so i may be wrong when noticing the points).

The first endpoint is (6, 9) and (12, 12)

Now we apply a dilation with a scale factor K = 2/3.

then we get the points:

((2/3)*6, (2/3)*9) = (4, 6)

and the other point is:

((2/3)*12, (2/3)*12) = (8, 8)

Now we need to draw a segment whose endpoints are (4, 6) and (8, 8)

The segment can be seen in the graph below.

Please help ASAP! giving 100 points Use a decimal number to describe the shaded amount.



0.2
0.5
0.05
0.15

Answers

Answer:

B. 0.5

Step-by-step explanation:

There are 10 circles in total. 5 are shaded in.

We would make that a fraction.

5/10

Then we would convert it to a percent

50%

Then we will convert it to a decimal

0.5

Therefore, your answer would be B. 0.5

What part of an hour elapses from 3:12 PM to 5:30 PM?

Answers

Answer:

3:18

Step-by-step explanation:

From 3:12 PM to 5:12 PM it's 3 hours.

From 5:12 PM to 5:30 PM it's 18 minutes.

Total elapsed time: 3:18

I don't know why the question asks "what part of an hour" when the answer is more than 3 hours.

452% as a decimal and as a fraction in simplest form

Answers

Answer:

decimal form: 4.52

fraction: 4 13/25

Step-by-step explanation:

Answer:

Decimal 4.52

Fraction 4  13/25

What are the solutions of the quadratic equation below?
x²-4x-6=0​

Answers

Answer: x=2±√10 or x=5.16227766

Step-by-step explanation:

What is the height of the cone below?
V = 90 cm
B = 18 cm?
5 cm
06 cm
O 15 cm
O 30 cm

Answers

Answer:

5cm

Step-by-step explanation:

V = (B*H)

90 = (18 * H)

H = 90 / 18

which number is greater tha 9/4​

Answers

Answer:

9

Step-by-step explanation:

the biggest number gets eaten by the alligator

1/2x + 7 = x + 13 solution

Answers

Answer:

-3

Step-by-step explanation:


Write an equation of a line perpendicular to x = -7 and passes through the
point (4,9).

Answers

Answer:

y = 9

Step-by-step explanation:

The line x = -7 is a vertical line, so the perpendicular line will be horizontal.

Horizontal lines have a slope of 0.

Using this slope and the point given, plug them into y = mx + b to solve for b and create the equation

y = mx + b

9 = 0(4) + b

9 = b

Plug this and the slope into the equation:

y = mx + b

y = 0x + b

y = 9

So, y = 9 is the equation

Trap spacing measurements​ (in meters) for a sample of seven teams of red spiny lobster fishermen are provided. Let represent the average of the trap spacing measurements for the population of red spiny lobster fishermen fishing in a particular region. The mean and standard deviation of the sample measurements were previously computed to be x=89.4, and s=11.4 meters respectively. Suppose the fishermen want to determine if the true value of differs from 95 meters

Answers

Look up on connect for the answer

Please help me find the values of z and x!

Answers

Answer:

The answer would be 299

Step-by-step explanation: Just plug in 74 into x

Why does the sin 0 = cos (90 - 0)?

Answers

Answer:

It is a nonexistent circumstance where one point of a correct triangle gets zero. Attempt to think. At the point when the point becomes zero, at that point the base gets 0, and the opposite and the hypotenuse turns into a similar line. Since in cos 90, base is 0, in this manner consequently cos 90 is zero.

(Hope this helps! Btw, I am the first to answer. Brainliest pls!)

Please help with 3 thank you!

Answers

Answer:

Step-by-step explanation:

The value of C has to be Greater than 0.65

Answers

Answer:

1.3

Step-by-step explanation:

1. .65 = .5c ---> .65/.5

2. 1.3 = c

One of the angles of a parallelogram is 36 degree greater than another one. Find the angles of the parallelogram

Answers

Answer:

72, 72, 108, 108

Step-by-step explanation:

x, x, x+36, x+36 =360

4x=288

x=72

so,  x=72, x=72, x=108, x=108

Answer:

72*, 72*, 108*, 108*

HELP ASAP WILL GIVE BRAINLEST TO CORRECT ANSWER

What is the circumference of a circle with a diameter of 3 feet? Use 3.14 for pi



diameter = 3 ft


A. 4.71 ft
B. 9.42 ft
C. 18.84 ft
D. 7.07 ft​

Answers

Circumference = Pi x diameter

Circumference = 3.14 x 3 feet

Circumference = 9.42 feet.

The answer is B. 9.42 feet

Complete the statement. Round to the nearest hundredth if necessary.

9.2 in. ≈
cm

Answers

9514 1404 393

Answer:

  23.37 cm

Step-by-step explanation:

1 inch is 2.54 cm, so 9.2 inches is ...

  (9.2)(2.54 cm) = 23.368 cm ≈ 23.37 cm

Calculate the slope of the line on the graph using the formula: m=y2-y1/x2-x1
The slope of the line is __ m/s

Answers

The slope is 4 m/s
Hope this helps

Answer:

4 m/s

Step-by-step explanation:

What is X?
in decimal form plz

Answers

X should theoretically = 8.8 if you do the Pythagorean theorem.
6^2 + 4.2^2 = x^2
x = 7.3
Then go to the next triangle to find the missing length:
7.3^2 + 5^2 = x^
x = 8.8
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