You deposit $1500 in a bank account that pays 4% annual interest. Find the balance
after 6 years if the interest is compounded monthly. Round to the nearest cent.
Growth

Answers

Answer 1

Answer:

To calculate the balance after 6 years with monthly compounding, we can use the formula for compound interest:

A = P * (1 + r/n)^(n*t)

Where:

A = the final amount (balance) after t years

P = the principal amount (initial deposit)

r = the annual interest rate (as a decimal)

n = the number of times interest is compounded per year

t = the number of years

In this case:

P = $1500

r = 4% = 0.04 (as a decimal)

n = 12 (compounded monthly)

t = 6 years

Plugging in the values, we get:

A = 1500 * (1 + 0.04/12)^(12*6)

Calculating the right-hand side:

A = 1500 * (1 + 0.003333)^72

A = 1500 * (1.003333)^72

A ≈ 1500 * 1.265032

A ≈ $1897.55

Therefore, the balance after 6 years with monthly compounding, rounded to the nearest cent, is approximately $1897.55.


Related Questions

Which of the following statements about the box-and-whisker plot below is not true?

Answers

Answer: D

Step-by-step explanation:

Because the Midrange data set shown is 55

Answer:

D

Step-by-step explanation:

Find the area of the triangle.
equals
nothing msquared
​(Simplify your​ answer.)

Answers

Answer: 40

Step-by-step explanation:

Solve 20x= 10 for x

x= 1/2

x= 1.5

x= 2

x= 10

Answers

Start by isolating the x term which is 20x by dividing both sides by 20.

That leaves you with x = 10/20 which can be reduced to x = 1/2.

Ordered pair of Y=2x-3 , Y=-2x+5

Answers

Answer:

(2, 1 )

Step-by-step explanation:

Given the 2 equations

y = 2x - 3 → (1)

y = - 2x + 5 → (2)

Substitute y = 2x - 3 into (2)

2x - 3 = - 2x + 5 ( add 2x to both sides )

4x - 3 = 5 ( add 3 to both sides )

4x = 8 ( divide both sides by 4 )

x = 2

Substitute x = 2 into either of the 2 equations for corresponding value of y

Substituting into (1)

y = 2(2) - 3 = 4 - 3 = 1

Solution is (2, 1 )

Which Graph represents the unction f(x)= -8/5x+8 with its intercepts?

Answers

Answer:

y-intercept is (0,8) and x-intercept is (5,0)

Step-by-step explanation:

Hello there tiny humans can any you answer this pls for me

Answers

Answer:

1) B

2) a. 5x-7 b. 15b + 25 c. 16x^2 + 4x d. 13g -20. e. 6h + 23

Step-by-step explanation:

I’m sorry if any of them are wrong but I believe they’re right, most of it was distribution

Answer:

28. B

29:

A. 5x-7

B. 15b+25

C. 16x^2+4x

D. 13g-20

E. 6h+23

30:

A. Constant = 103, Coefficient= 94, Variable= w

B. Constant= -3, coefficient= 18, variable= x

C. Constant= -7, coefficient = -5, variable = y

D. Constant = 16, coefficient = -24, variable = z

31:

A. x+10

B. 13-9/x

C. 9x+4

D. 4+11x

Plz help I rly need this urgently will mark brainliest if correct :)

Answers

Answer:

a. 0.8x+1.25y

b. $5.70

Step-by-step explanation:

a. Let x represent the number of apricot bars and y represent the number of cranberry bars. A apricot bar costs 0.80 each and cranberry bars cost 1.25 each. So the expression for the income is 0.8x+1.25y.

b. To find the answer, plug in values to the previous expression. Since Kayley bought 4 apricot bars and 2 cranberry bars, plug in 4 for x and 2 for y.

0.8(4)+1.25(2)= 5.70

So, she spent $5.70.

What is the range of y = -3sin(x) - 4?
all real numbers -7 all real numbers -7 all real numbers -5 all real numbers -1

Answers

Answer:

B. -7 < y < -1

Step-by-step explanation:

The height of trapezoid VWXZ is 8 StartRoot 3 EndRoot units. The upper base,VW, measures 10 units. Use the 30°-60°-90° triangle theorem to find the length of YX.

Once you you know the length of YX, find the length of the lower base, ZX.
A.14 units
B.10 + 4 StartRoot 3 EndRoot units
C.18 units
D.10 + 8 StartRoot 3 EndRoot units

Answers

Answer:

C. 18 units.

Step-by-step explanation:

The value of the length of YX is,  8 units

And, The lower base will be 18 units.

Since, The tangent of an angle is the ratio between the opposite side of the angle and the adjacent side of the angle.

⇒ tanθ = opposite side/adjacent side

So according to asked question;

In the trapezoid VWXZ,

VW || XZ

Height of trapezoid= VZ = WY = 8√3

VW = 10

∠YWX = 30°

∠WXY = 60°

In triangle ΔWYX,

∠WYX = 90°

ΔWYX is a right angle triangle

So, tan ∠YWX= XY/WY

⇒ tan30° = XY/8√3

⇒ 1/√3 = XY/8√3

⇒ XY = 8√3/√3

⇒ XY = 8 units

Thus, The length of the lower base is,

ZX = ZY + XY = VW + XY = 10 + 8 = 18units

Therefore, The lower base will 18 units.

Learn more about trapezoid visit:

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If a car travels at a rate of 74 miles per hour , then how long will it take the car to travel 481 miles

Answers

Answer:

6 hours and 30 min

Step-by-step explanation:

Take the miles and divide by mph then you get the time

6 hours and 30 minutes

A newspaper article reports the results of an election between two candidates. The article says that Smith received 60% of the votes and that Murphy received 1/4 of the votes. A reader writes in to complain that the article cannot be accurate. What reason might the reader have to say this?

Answers

Answer:

60% and 1/4=25% do not equal 100%. There must have been another candidate.

Step-by-step explanation:

If you change 1/4 to a percentage, it equals 25%. if there are only 2 candidates, then all the votes must equal 100%. 60% + 25% only equals 85%, so there needs to be another 15% for it to be accurate.

Line A is perpendicular to Line B.
If the slope of Line A is - 5/8
what is the slope of Line B?


Answers

Answer:

5/8

Step-by-step explanation:

Answer: 5/8

Did the quiz

Marissa claims that stacking 6 blocks with dimensions of 5x1x1 will give the same volume as stacking 9 blocks with

dimensions of 1x1 Which statements about her claim are true? Check all that apply.

A. Six of the one half cubes would have a volume of 3 cubic units.

B. Nine of the one-third cubes would have a volume of 6 cubic units.

C. Since 1/2 and 1/3 do not have common factors, stacks of one-half cubes and stacks of third cubes could never have the same

volume.

D. Three of the one-third cubes will make 1 unit cube.

E. Two of the one-half cubes will make 1 unit cube.

F. Both stacks will have a volume of 3 cubic units.

Answers

Answer:

The statements that are true

A.) Six of the one half cubes would have a volume of 3 cubic units.

D.) Three of the one-third cubes will make 1 unit cube.

E.) Two of the one-half cubes will make 1 unit cube.

F. Both stacks will have a volume of 3 cubic units.

Step-by-step explanation:

Complete, Correct Question

Marissa claims that stacking 6 blocks with dimensions of (½×1×1) will give the same volume as stacking 9 blocks with

dimensions of [(1/3)×1×1] Which statements about her claim are true? Check all that apply.

Before checking the statements, we first find the volume of both cars of blocks

Volume of a cuboid block = lbh

For block A, volume = (1/2) × 1 × 1 = (1/2) cubic units

6 block A's will have a volume of 6 × (1/2) = 3 cubic units.

For block B, volume = (1/3) × 1 × 1 = (1/3) cubic units

9 block B's will have a volume of 9 × (1/3) = 3 cubic units.

Now checking the statements one at a time

A. Six of the one half cubes would have a volume of 3 cubic units.

As calculated above, this is true.

B. Nine of the one-third cubes would have a volume of 6 cubic units.

This is false. 9 of the one-tailed cubes has a volume of 3 cubic units too not 6 cubic units.

C. Since 1/2 and 1/3 do not have common factors, stacks of one-half cubes and stacks of the two cubes could never have the same volume.

From the calculation before analysing the statements, the two stacks mentioned had the same total volume of 3 cubic units. Hence, it shows this statement is false.

D. Three of the one-third cubes will make 1 unit cube.

3 one-third cubes will have a volume of

3 × (1/3) = 1 cubic unit. This statement is true.

E. Two of the one-half cubes will make 1 unit cube.

2 one-half cubes will have a volume of

2 × (1/2) = 1 cubic unit. This statement is true.

F. Both stacks will have a volume of 3 cubic units.

From previous calculation before analysing the statements one at a time, this is true. The total volume of both stacks mentioned today is 3 cubic units.

Hope this Helps!!!

What is the equivalent decimal of -1\5 and -2\9

Answers

Answer:

1/5=10/50

2/9=20/90

Step-by-step explanation:

1/5 is just a simpler way of saying 10/50 same as 2/9

A man has a fish tank with the following dimensions:
24cm
29 cm
41 cm
He needs to know approximate volume of the tank.
What is its approximate volume?​

Answers

Answer:

28,536 centimeters cubed

Step-by-step explanation:

1. Multiply 24x29x41.

2. 24x29 = 696, 696x41 = 28536

3. Since there are three numbers with cm, it would be described as cubed.

Hello

does anyone need any help, im really good at math and i would love to help someone

Answers

yes i need help on a problem, can i message you?

Answer:

Yes please

Step-by-step explanation:

what is

8+1/2(12)=x

Thank you!!!

If f(x) = x2 – 2x, find:
f(0) = [? ]

Answers

Answer:

0

Step-by-step explanation:

f(x) = x^2-2x

Plug in 0

f(x) = 0-0

f(x) = 0

You invest $2,800 in an account that
pays an interest rate of 5.5%,
compounded continuously.

Answers

You'll need to provide a bit more information for me to answer this. I.e are you trying to find out how much money will be made after a certain number of years? e.c.t

Answer:

Strengthen your learning experience. Review our Honor Code.

Brainly.com

lucashartsell4

Ask your question

dantemiramontesdm

You'll need to provide a bit more information

The graph below shows the average daily temperatures on January 1 from 1900 to 1934 for city A.


The mean of the temperatures in the chart is 24° with standard deviation of 4°. How many years had temperatures within one standard deviation of the mean?
20
25
28
35

Answers

22,25,27 there are multiple questions that have the same question but different answers on Edge.

In this case it would be 25.

Based on the information and graph provided, the number of years had temperatures within one standard deviation of the mean is 25 years.

What is the number of years that had temperatures within one standard deviation of the mean?

   

Frim the data provided:

Mean, x = 24°Cstandard deviation, σ = 4°CThe interval for + or - 1 standard deviation of mean = [ 20 , 28 ] °C

From the graph, the number of years within one standard deviation of the mean temperature is:

T1 = 20 , n1 = 2 yearsT2 = 21 , n2 = 3 years  T3 = 22 , n3 = 2 yearsT4 = 23 , n4 = 4 years  T5 = 24 , n5 = 3 yearsT6 = 25 , n6 = 3 years  T7 = 26 , n7 = 5 yearsT8 = 27 , n8 = 2 yearsT9 = 28 , n9 = 1 years

The total number of years, N:

N = n1 + n2 + n3 + n4 + n5 + n6 + n7 + n8 + n9

N =  2 + 3 + 2 + 4 + 3 + 3 + 5 + 2 + 1

= 25 years  

Therefore, the number of years had temperatures within one standard deviation of the mean is 25 years.

Learn more about about mean and standard deviation at: https://brainly.com/question/475676

The radius of a sphere is 5.6m .Calculate the spheres volume.
Use the value 3.14 for pi , and round your answer to the nearest tenth. (Do not round any intermediate computations.)

Answers

Answer:

The volume of the sphere is [tex]735.24\ m^3[/tex].

Step-by-step explanation:

We have,

The radius of a sphere is 5.6 m.

It is required to find the volume of the sphere.

The formula for the volume of sphere is given by :

[tex]V=\dfrac{4}{3}\pi r^3[/tex]

r = 5.6 m

[tex]V=\dfrac{4}{3}\times 3.14\times (5.6)^3\\\\V=735.24\ m^3[/tex]

So, the volume of the sphere is [tex]735.24\ m^3[/tex].

Which equation has the solutions x = (5 plus/minus 2sqrt(7))/3

Answers

Answer: D) 3x^2 - 10x - 1 = 0

Answer:

D is the correct answer!!!!


Which of the following should be considered in buying a computer?
How much memory you need.
What software is needed.
Whether graphics or word processing are more important.
What operating system to buy

Answers

Answer:

All of the following should be considered when buying a computer.

All of them is needed

Arianna and her friend Alexa are going to a carnival that has games and rides. Arianna played 6 games and went on 2 rides and spent a total of $21.50. Alexa played 10 games and went on 7 rides and spent a total of $53.25. Write a system of equations that could be used to determine the cost of each game and the cost of each ride. Define the variables that you use to write the system.

Answers

Answer:

6x + 2y = 21.50 equation (i)

10x + 7y = 53.25 equation (ii)

Where x represent game and y represent ride.

Cost of 1 game = $2

Cost of 1 ride = $4.75

Step-by-step explanation:

To solve this question, we have to write two set of equations, each giving details of account of the two parties involved.

Let x represent games

Let y represent rides

So, with Arianna,

6x + 2y = 21.50.......equation (i)

With Alexa,

10x + 7y = 53.25 ........equation(ii)

We can solve this equations and go ahead to find the cost of ride and game using simultaneous equation

From equation (i)

6x + 2y = 21.50

Make x the subject of formula,

6x = 21.50 - 2y

x = (21.50 - 2y) / 6 ......equation (iii)

Put equation (iii) into equation (ii)

10x + 7y = 53.25

10 [(21.50 - 2y) / 6] + 7y = 53.25

(215 - 20y) / 6 + 7y = 53.25

(215 - 20y + 42y) / 6 = 53.25

215 + 22y = 53.25 × 6

215 + 22y = 319.5

22y = 319.5 - 215

22y = 104.5

y = 4.75

Put y = 4.75 in either equation (i) or (ii) to find x.

From equation (i)

6x + 2y = 21.50

6x + 2(4.75) = 21.50

6x + 9.5 = 21.50

6x = 21.50 - 9.5

6x = 12

X = 12 / 6

X = 2

Therefore the cost of 1 game is $2 and 1 ride is $4.75

The system of equations are,  [tex]6x+2y=21.5[/tex] and [tex]10x+7y=53.25[/tex]

where cost of each game is x dollar and cost of each ride is y dollar.

Let us consider that cost of each game is x dollar and cost of each ride is y dollar.

Since, Arianna played 6 games and went on 2 rides and spent a total of $21.50.

                      [tex]6x+2y=21.5[/tex]

and Alexa played 10 games and went on 7 rides and spent a total of $53.25.

                    [tex]10x+7y=53.25[/tex]

Hence, the system of equations are,  [tex]6x+2y=21.5[/tex] and [tex]10x+7y=53.25[/tex]

Learn more:

https://brainly.com/question/12526075

I just need to know the answer and really quick!

Answers

Answer:

if it's for the first one this is the answer I think not 100%sure

y=12x+36

Step-by-step explanation:

HELP ASP !!! PLS

What is the value of x?
Enter your answer in the box.

Answers

Answer:

127 degrees

Step-by-step explanation:

Sum of interior angle is 720 degrees so to find x, just use 720 minus all the other angles

Which function has the smallest x-intercept value, if it exists?

Answers

Answer:

x intercept. The x intercept is the point where the line crosses the x axis. At this point y = 0. y intercept. The y intercept is the point where the line crosses the y axis.

Answer:

f(x)=x+1 or C on edge

Step-by-step explanation:

What is the formula for a line that passes through point (6,5) and runs perpindicular to a line with a slope of 1/2

Answers

Using THIS formula:

(y-y₁) = m(x-x₁)

PLUGGING IT IN:

(y-5) = 1/2(x-6)

Is this what your teacher is looking for?

1. An employee makes a job change. Her original salary was $65,000, and her salary at her new job is $54,000. What percent decrease was her salary change?

Please show your work

2. Miguel sells a house for $275,000. His commission for the sale is $6,875. What percent commission did he earn? (Make sure to write your answer as a percent for example: 6.2%)

3.Explain how you can convert from percent to decimal and decimal to percent with two examples.


I NEED SOME HELP ASAP

Answers

Answer:

1.Divide 65,000 by 54,000 and multiply it by 100.2.275,000 times 6,875. 3.They are the same but are in different forms

Step-by-step explanation:

Bigger number divided by smaller number times one hundred.

pls help
given that A= 1/2( a+c)h, express h in terms of A, a and c​

Answers

Answer:

What are you trying to say? Like what each variable means or...

Are you trying to find the area of a triangle???

The figure below is made up of Prism A and Prism B.

Prism A is 1 rectangular block. Prism A has a length of 5 centimeters, a width of 2 centimeters, and a height of 4 centimeters.

Prism B is made up of cubes, each measuring 1cubic centimeter.

Write an expression that would find the total volume of the figure, in cubic centimeters.
Then, find the total volume of the figure, in cubic centimeters.

Answers

I think It should be prism A. Please give me brainlest I hope this helps
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