a loan of 38000 is made of 3% interest, compounded annualy. after how many years will the amount due reach 49000 or more

Answers

Answer 1

Answer:

the time period is 9 years

Step-by-step explanation:

The computation of the number of years is as follows:

As we know that

Future value = Present value × (1 + rate of interest)^number of years

$49,000 = $38,000 × (1 + 0.03)^number of years  

$49,000 ÷ $38,000 = 1.03^number of years  

tlog(1.03) = log($49 ÷ $38)

Now apply the log formula in calculator or in excel  

t = log(49 ÷ 38) / log(1.03)

= 8.6

= 9 years

Hence, the time period is 9 years


Related Questions

Christopher has breakfast at a cafe and the cost of his meal is $36.00 Because of the service, he wants to leave a 10% , percent tip.


the answer is 39.60

Answers

Nice to know, thank you!

A manufacturer of salad dressings uses machines to dispense liquid ingredients into bottles that move along a filling line. The machine that dispenses salad dressings is working properly when 8 ounces are dispensed. Suppose that the average amount dispensed in a particular sample of 35 bottles is 7.91 ounces with a variance of 0.03 ounces squared. Is there evidence that the machine should be stopped and production wait for repairs? The lost production from a shutdown is potentially so great that management feels that the level of significance in the analysis should be 99%.

Answers

Answer:

Step-by-step explanation:

From the given information:

The null hypothesis is:

[tex]H_o: \mu = 8[/tex]

The alternative hypothesis is:

[tex]H_1 : \mu \ne 8[/tex]

The sample size n = 35

Sample mean = 7.91

variance = 0.03

Standard deviation = [tex]\sqrt{0.03} = 0.173[/tex]

The t-test statistics is computed as:

[tex]t = \dfrac{\bar x - \mu}{\dfrac{s}{\sqrt{n}}}[/tex]

[tex]t = \dfrac{7.91 -8}{\dfrac{0.1732}{\sqrt{35}}}[/tex]

[tex]t = \dfrac{-0.09}{\dfrac{0.1732}{5.916}}[/tex]

t = - 3.0741

Degree of freedom:

df = n - 1

df = 35 - 1

df = 34

Level of significance = 1 - C.I

= 1 - 0.99

= 0.01

The t_{critical} value for the two-tailed test at 0.01 is within the rejection region:

[tex]t_{critical} = -2.728 \ and \ 2.728[/tex]

Decision rule: To reject [tex]H_o[/tex] if  [tex]t< -2.728 \ or \ t > 2.728[/tex]

As [tex]t_{statistics}[/tex] fails the rejection region, we reject [tex]H_o[/tex]

Conclusion: There is sufficient evidence to believe that the machine will not dispense 8 ounces & and it must be stopped for repairs.

You can use hypothesis testing with t test to know if there is enough evidence that he machine should be stopped and production wait for repairs.

There is enough evidence that the machine should be stopped and production wait for repairs.

Given information about taken sample are:Sample mean [tex] \overline{x} = 7.91[/tex]Sample size n = 35Sample standard deviation [tex]s = \sqrt{variance} = \sqrt{0.03} = 0.1732[/tex]Confidence should be of 99%.

Let the population mean be denoted by [tex]\mu[/tex]

Forming hypotheses:

Null hypothesis: [tex]\mu = 8[/tex] (that is, machine needs no repair and working fine)

Alternate hypothesis: [tex]\mu \neq 8[/tex] (that is, machine is not dispensing right amount and need repairs)

Using t test:

[tex]t = \dfrac{\overline{x} - \mu}{\dfrac{s}{\sqrt{n}}}[/tex]

[tex]t = \dfrac{7.91- 8}{\dfrac{0.1732}{\sqrt{35}}} = -0.30821[/tex]

Degree of freedom = sample size - 1 = 34

Level of significance = [tex]\alpha = 1 -0.99 = 0.01[/tex]

From t tables we have:

[tex]t_{critical} = t_{0.01} = \pm 0.278[/tex] (two tailed test) (at 34 degree of freedom)

Since obtained value of t -0.30821 is less than the minimum value of range [tex](-0.278, 0.278)[/tex], thus lying outside the range and thus, we cannot accept the null hypothesis and end up accepting the alternate hypothesis.

Thus, there is enough evidence that the machine should be stopped and production wait for repairs.

Learn more about testing of hypothesis for single mean here:
https://brainly.com/question/25316952

Evaluate: 12 divided by y+9d if y = 5 and d = 7

Answers

y + 9d = (5) + 9(7) = 68
12/68 = 6/34 = 3/17
The solution is 3/17

Answer:

0.25

12/5+(7x5)

Step-by-step explanation:

12/5+(7x5)

12/5+35

12/40

Leonel has $25.00 to spend. He decided to buy a hat for $18.75 and spend the rest on wristbands. If each wristband costs $4.75, how many wristbands can Leonel buy?

Answers

He can buy one wristband with a 1.50 left

how many men have a waist measurement of more than 85cm

Answers

Answer:

29

Step-by-step explanation:

The answer is 29 hope this helps you! :)

Convert Repeating Decimal to Fraction
Convert the repeating decimal to a rational number.
ITEM BANK: Move to Bottom
4936/990
530/900
4311/9900
8099/990
674/990
0.4354 drag and din answer har
0.58 drag and drop wether
0.680 - drag and drop shower bord
4.985 - drag and drop antworten
8.180ding and dan wel

Answers

Step-by-step explanation:

0.345454...... = 4311/9900

0.5888..... = 530/900

0.68080..... = 674/990

4.98585..... = 4936/990

8.18080...... = 8099/990

Solve for x: 1/3 (x-22) = 4x
x = -2
x = 34
x = 2
x = -10 ​

Answers

Answer:

x=-2

Step-by-step explanation:

2x^2-20x+100 quadratic formula

Answers

Answer:10

Step-by-step explanation:

trapped in a cell that contains 3 doors. The first door leads to a tunnel that returns her to back tothe cell after 2 days of travel. The second door leads to a tunnel that returns her back to the cell after 4days of travel. The third door leads her freedom after 1 day of travel. If it is assumed that Ally will alwaysselect doors 1, 2, and 3 with probabilities 0.5, 0.3, and 0.2 (respectively), what is the expected number ofdays until she reaches freedom

Answers

Answer:

The expected number of days until prisoner reaches freedom is 12 days

Step-by-step explanation:

From the given information:

Let X be the random variable that denotes the number of days until the prisoner reaches freedom.

We can evaluate E(X) by calculating the doors selected, If Y be the event that the prisoner selects a door, Then;

E(X) = E( E[X|Y] )

E(X) = E [X|Y =1 ] P{Y =1} + E [X|Y =2 ] P{Y =2} + E [X|Y =3 ] P{Y =3}

[tex]E(X) = (2 + E[X])\dfrac{1}{2}+ (4 + E[X])\dfrac{3}{10}+ 1 (\dfrac{2}{10})[/tex]

[tex]E(X) = (2 + E[X])0.5+ (4 + E[X])0.3+ 0.2[/tex]

Solving for E[X]; we get

E[X] = 12

solve the equations 7(x+4)=21
iready​

Answers

Step-by-step explanation:

[tex]\bullet\hookrightarrow\sf 7 (x+4)=21 [/tex]

[tex]\bullet\Rrightarrow\sf 7x+28=21 [/tex]

[tex]\bullet\rightarrowtail\sf 7x=21-28 [/tex]

[tex]\bullet\twoheadrightarrow\sf 7x=-7 [/tex]

[tex]\bullet\looparrowright\sf x=\dfrac{-7}{7}[/tex]

[tex]\bullet\rightharpoonup\sf x=-1 [/tex]

Can someone help please

Answers

Answer:sorry i cant

Step-by-step explanation:

Simplify.
12 + 15 : 3x6 - 4

Answers

Answer:

Step-by-step explanation:

Divide the numbers

12+153⋅6−412+153⋅x6−412+315​⋅x6−412+56−412+5x6−4 12+5x6−4

3x+15/2 <30
Please help fast by the way the whole equation 3x+15 is over 2.

Answers

Answer:

x  <  15

Step-by-step explanation:

Isolate the variable by dividing each side by factors that don't contain the variable.

16 liters to quarts (dry measure)

Answers

Answer:

16 litres =14.53 US qt dry

Step-by-step explanation:

Please mark my answer as a brainliest. ❤❤❤

Kaitlyn is sharpening a pencil that is 19 cm. Each time she sharpens it goes down 2.5 cm. If she sharpens her pencil 4 times. How many centimeters of pencil does she have left?

Answers

Answer:

9 cm

Step-by-step explanation:

2.5x4=10

Which value is equivalent to the expression 45?

Answers

Answer:

what value are you talking about

Step-by-step explanation:

Answer:

It's 1024

Step-by-step explanation:

A meteorologist predicted that there would be 1.0 inches of rainfall from a storm. Instead, there were 2.2 inches of rainfall. Which statements are true?

a
The prediction was off 35%
b
The percent error of the prediction was about 55%.
c
If the percent error should be less than 20%, the prediction was acceptable.
d
The difference between the predicted and the actual rainfall was 1.2 inches

Answers

Answer:

pls write the question clearly

Step-by-step explanation:

hxhdhdudjfjfjfjfjjfucjdjshshsshsh

The statements that is true: B. The percent error of the prediction was about 55%.

D. Difference between the predicted and actual rainfall was 1.2 inches.

What is the percentage error?

Percentage error can be calculated  using this formula;

Percentage error = Actual value observed - Expected value /Expected value

The Percentage error is;

= 2.2 - 1.0 / 2.2

Percentage error = 1.2 /2.2

Percentage error = 0.545 × 100

Percentage error = 55% (Approximately)

Since Difference between the predicted and actual rainfall;

Difference = Actual rainfall - Predicted rainfall

Difference = 2.2 -1.2

Difference = 1.2 inches.

Hence the correct statement is option B and D.

Learn more about percentage error;

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Which function could be represented by the graph on the
coordinate plane?

Answers

The last option f(x)=(x-8)^2 -6

The reason is that whatever is in the parenthesis is always opposite. So since the graph is on the right side that means it’s -8 not positive 8. And the -6 represents a vertical translation and the graph is placed below zero.

Answer:

f(x)=(x-8)^2 -6

Step-by-step explanation:

Each of four test scores in Connie’s class is to be weighted equally. On the first three tests, Connie scored 80%, 90% and 95%. What percent must she score on her fourth test to have an overall average of exactly 90%?

Answers

Answer:

95%is the answer

Step-by-step explanation:

Answer:

95%

Step-by-step explanation:

We can use the balancing method to do this.. first what is the total below 90?

The total is 10% because 90-80 which was the only percentage below 90 is 10%. Then, what is the total above 90?

The total is 5% because the only percentage above 90 is 95 and 95-90 is 5%

Now we use the balancing method to get from 5-10.

Using the balancing method we get 95%

Y=^2+5x-7 find the vertex

Answers

Answer:

-5/2-39/2

Step-by-step explanation:

Ellen already knew 50 appetizer recipes before starting culinary school, and she will learn 4 new appetizer recipes during each week of school. After 73 weeks of culinary school, how many total appetizer recipes will Ellen know? Write and solve an equation to find the answer.

Answers

Answer:

342

Step-by-step explanation:

50+4x=y

x=73

Samantha invested $670 in an account paying an interest rate of 5.5% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $1,740?

Answers

Answer:

  17 years

Step-by-step explanation:

The formula for the value of an account earning compound interest can be used to find the number of years. That formula is ...

  A = P(1 +r/n)^(nt)

where P is the principal invested at annual rate r compounded n times per year for t years.

__

Solving for t, we find ...

  A/P = (1 +r/n)^(nt) . . . . . . divide by P

  log(A/P) = nt·log(1 +r/n) . . . . take logarithms

  t = log(A/P)/(n·log(1 +r/n)) . . . . . divide by the coefficient of t

For the given values, the time required is ...

  t = log(1740/670)/(365·log(1 +0.055/365)) ≈ 17.353

It would take about 17 years for the account value to reach $1740.

_____

Additional comment

The time-value-of-money (TVM) apps of your calculator or spreadsheet can be used to find the time period of interest. Here, setting P/Y = 1 gives N in years.

one third of a number x is equal to 8

Answers

1/3 x = 8

if you were to solve it
x would be 24
[ x = 24 ]

Answer:

ok

Step-by-step explanation:

There are 95 students at an
assembly. They are sitting in rows
and there are 7 students in each
row. How many rows will be needed
to seat all the students?

Answers

I believe 14.
95 divided by 7 is 13.57 so Round up to 14.

Answer:

about 14 chairs

Step-by-step explanation:

All you do is do 95 divided by 7, which is 13.57142857142857.... If your teacher would want you to round, then answer with 14, but if they wouldn't, I would just do 14

The original cost of a sofa was $600. If it was discounted 40% and sales tax is 8%, what is the final cost of the sofa

Answers

Answer:

$312

Step-by-step explanation:

10% of $600 is $60

So $60*4=$240

$600-$240=$360

1%=$6

So $6*8=$48

$360-$48=$312

How would you write 0.7 repeated as a fraction

Answers

Answer:

7/9

Step-by-step explanation:

7/9 = 0.777777777777777777...

0.7 repeated can be written as a fraction [tex]\frac{7}{9}[/tex].

What are Fractions?

Fractions are defined as a part or portion in a whole. There are two parts for a fraction, numerator which is the upper part and the denominator, which is the lower part.

Fractions are generally written in the form [tex]\frac{p}{q}[/tex], where p and q are real numbers. Here, the number p is called the numerator and the number q is called the denominator.

Fractions can be simplified as decimals.

We have to find the fraction representing the number 0.7 repeated.

0.7 repeated is actually the number 0.77777.....

The quotient of 5/8 = 0.625

The quotient of 6/7 = 0.857...

The quotient of 7/9 = 0.777.......

The quotient of 7/100 = 0.07

So, the quotient of 7/9 is the required number.

Hence the fraction which on simplification gives 0.7 repeated is 7/9.

To learn more about Fractions, click on the link given below:

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Which value is equivalent to the expression 4^5

Answers

Answer:

20

Step-by-step explanation:

6a) Choose yes or no to tell whether the GCF of 9 and 15 is 3.
Yes
Or
No

Answers

Yes because the greatest common factor (largest factor both numbers share) is three

I NEED HELP ASAP PLZ

Answers

first one

Step-by-step explanation:

Answer:

1/2 is the answer

Step-by-step explanation:

Plz help plz I’m begging I will give brainliest

Answers

Answer:

B is the answer.

Step-by-step explanation:

Answer:

The second one

Step-by-step explanation:

-2 and 1/4 is the same as -9/4 bec -9/4 is just in the improper form.

(can i get brainliest now)

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