A person places $3610 in an investment account earning an annual rate of 6.6%, compounded continuously. Using the formula V = Pe^{rt}V=Pe rt , where V is the value of the account in t years, P is the principal initially invested, e is the base of a natural logarithm, and r is the rate of interest, determine the amount of money, to the nearest cent, in the account after 18 years.

Answers

Answer 1

Answer:

11842.6541≈11842.65

Step-by-step explanation:

Answer 2

The amount of money to the nearest cent in the account after 18 years is

$11842.75.

What is Continuous compounding?

Continuous compounding is the mathematical limit that compound interest can reach if it's calculated and reinvested into an account's balance over a theoretically infinite number of periods. While this is not possible in practice, the concept of continuously compounded interest is important in finance. It is an extreme case of compounding, as most interest is compounded on a monthly, quarterly, or semiannual basis.

A = P × [tex]e^{rt}[/tex]

where,

A = Amount of money after a certain amount of time

P = Principle or the amount of money you start with

e = Napier’s number, which is approximately 2.7183

r = Interest rate and is always represented as a decimal

t = Amount of time in years

Given here,

Principal amount (P) = $3610,

Interest rate (r) = 6.6% = 6.6/100 = 0.066

Amount of time (t) = 18 years

Therefore, Amount after 18 years will be A = P × [tex]e^{rt}[/tex]

                    A = $3610 × [tex]2.7183^{0.066 *18}[/tex]

                    A = $3610 × 3.2805

                    A = 11.842.7482

                    A = $11842.75

Hence, The amount of money to the nearest cent in the account after 18 years is $11842.75

Learn more about continuous compounding here:

brainly.com/question/30033245

#SPJ5


Related Questions

the root of equation 1/x-1 +1/x-2 = 1/x-3

Answers

Answer:

The roots of the quadratic equation  are  , .

Step-by-step explanation:

The roots of the quadratic equation  are  , .

Step-by-step explanation:

As given the equation in the form

Simplify the above equation

(x-2)-x = 3x × (x-2)

x-2 - x = 3x² - 6x

3x² - 6x + 2 = 0          

As the equation is written in the form ax² + bx + c = 0

a = 3 , b = -6 , c = 2

Put all the values in the above equation

Thus

Therefore the roots of the quadratic equation  are  , .

Kelly was building a bed for her dollhouse. She used her bed, which is 4 feet × 6 feet, as a guide. She scaled down the dimensions of her bed by a factor 1 over 5. What are the dimensions of the model bed she built?

0.8 foot × 1.2 feet
0.4 foot × 0.6 foot
0.08 foot × 0.12 foot
0.04 foot × 0.06 foot

Answers

Answer:

A  

0.8 foot × 1.2 feet

Step-by-step explanation:

Expression 3x²+4x-5
x=0​

Answers

Answer:

x = {1/3, 0}

Step-by-step explanation:

What is the value of x?

Enter your answer, as a decimal, in the box.

Answers

Answer:

Step-by-step explanation:

The following ratio solves the problem

AM/MN = x / MP

(67.2 - 32) /67.2 = x / 81.9

35.2 / 67.2 = x / 81.9

Cross Multiply

67.2 * x = 81.9 * 35.2

67.2 x = 2882.88

Divide by 67.2

x = 2882.88 / 67.2

x = 42.9

Write down the next two terms in this number pattern
19, 14, 9, 4,​

Answers

the sequence is -5 everytime, it would be 19,14,9,4, -1, -6 because you are subtracting 5 everytime. i hope this helps

Answer:

points. points.

Step-by-step explanation:

pointssss

also, -1, -6

Which coordinate plane shows the graph of 3x + y > 9?

Answers

Answer:

Here is the graph.

How long is the missing side length?
1 point
12.2
4.6
7.6
11.3
ОО
ОО
127.7
196

Answers

Answer:

Figure it out

Step-by-step explanation:

i am bad with money problems help meh please ;-;

Answers

Answer:

b

Step-by-step explanation:

Answer:

4.96*6.57*8.02*2.31=603.716984464

help pls i will give BRIANLY
cat is to feline as____is to porcine ​

Answers

Answer:

pig Lol

Step-by-step explanation:

but seriously

The answer you are looking for is ‘pig’
Porcine means resembling/is a pig, therefore pig is the answer!

A pound of blueberries cost $3.98 and a pound of clementines cars $2.49 what is the combined cost of 0.6 pound of blueberries and 1.8 pounds of clementines

Answers

The answer is $3.87 explaining is

3 A Gas station A charges $3.50 per gallon of gas plus 58 for a car wash. Gas station B charges $3.25 per gallon of gas plus S10 for a car wash. How many gallons of gas must a customer purchase for the total cost to be the same at both gas stations? ​

Answers

9514 1404 393

Answer:

  8 gallons

Step-by-step explanation:

The $2 difference in the price of a car wash is made up by the gas purchase at the rate of $0.25 per gallon. So, it takes ...

  $2/($0.25/gal) = 8 gal

to make the costs the same.

The customer must purchase 8 gallons for the total cost to be the same at both gas stations.

___

  3.50g +8 = 3.25g +10 . . . . costs at each station for g gallons of gas + wash

  0.25g = 2 . . . . . . . . . subtract 3.25g+8 from both sides

  g = 2/.25 = 8 . . . . . . the way we did it above

their is no point for brainly if you need to sign in I don't wanna be mean tho

Answers

but it helps with homework and learning how to do stuff you dont know how to do

What would Hope be attempting to find if she writes d(4) = 78(4)?

Answers

Answer:

d=78

Step-by-step explanation:

so you would divide both sides of the equation by 2×2

d×4÷(2×2)=78×4÷(2×2) <- you would do this to get rid of 4 so you cna get the d alone

d=78×4÷(2×2) <- thats the other side of the equation btw

then it would be:

d=39×2

d=78

What is AC for brainliest

Answers

Answer : 6.4

Way to do

•Triangle 1

#Find CD first use tan formula

tan(∅) = opposite / adjuscent

tan(45) = CD / 5

CD = 5 × tan(45)

CD = 5

•Triangle 2

#Now you can find AC use Pythagoras theorem (c = AC)

a² + b² = c²

4² + 5² = c²

16 + 25 = c²

41 = c²

c = √41

c = 6.4

so, AC is 6.4

#Give me brainliest ok? im tired writing all of this

Could someone help I’m so confused

Answers

Answer:

6/4

Step-by-step explanation:

ratio of x to y is the slope so

you can use butterfly method/cross multiply (multiply numerator on one side to the denominator on the other to bring all the terms up and then solve for y)

4(y+3)=6(x+2)

4y+12=6x+12

y=6/4x

so it would be 6/4

4
It takes Naomi 4 minutes to run 5 laps.
How many laps per minute is that?
Ebon

Answers

Answer:

1.25 per min

Step-by-step explanation:

divide 5÷4 and you get 1.25 per min

Please help me. Thank you so much

Answers

Answer:

x = 10

Step-by-step explanation:

how do u write an expression for "twenty times a number less than two."

a.2 - 20y
b.20y-2
c.20 (y-2)

Answers

C , have a good rest of your day!

Answer:

20(y-2)

Step-by-step explanation:

Leah has meters of cloth, which she divides equally among her friends. Each friend gets meters of cloth.

Answers

Answer: 6

Step-by-step explanation:

Here's the complete question:

Leah has 8 4/7 meters of cloth, which she divides equally among her friends. Each friend 10/7 gets meters of cloth. She distributed the cloth to ---- friends.

Total length of the cloth = 8 4/7m

Number of friends = Unknown

Amount of length gotten by each friend= 10/7

The number of friends that she shred the cloth among will be:

= Total length of cloth / Length gotten by each friend

= 8 4/7 ÷ 10/7

= 60/7 ÷ 10/7

= 6/7 × 7/10.

= 60/10

= 6.

It was shared among 6 friends

Answer:

6

Step-by-step explanation:

i need help finding the slope​

Answers

Step-by-step explanation:

choose any two points and u will get

slope =1/2

i need to make equations with the models

Answers

Answer:

I dont know ask someone else I just here for the points

Select all line segment measurements below that could NOT be used to form a triangle. a triangle with the side measurements of 3, 4, and 6 inches a triangle with the side measurements of 2, 3, and 5 inches a triangle with the side measurements of 3, 3, and 4 inches a triangle with the side measurements of 5, 5, and 5 inches a triangle with the side measurements of 4, 4, and 8 inches a triangle with the side measurements of 7, 8, and 16 inches

Answers

Answer:

a triangle with the side measurements of 2, 3, and 5 inches

a triangle with the side measurements of 7, 8, and 16 inches

a triangle with the side measurements of 4, 4, and 8 inches

Step-by-step explanation:

A triangle is a polygon shape with three sides and three angles. There are different types of triangles such as isosceles triangle, scalene triangle, equilateral triangle and right angle triangle.

The triangle inequality theorem states that the sum of any two sides of a triangle is always greater than the third side.

For a triangle with the side measurements of 3, 4, and 6 inches:

3 + 4 > 6. This can be a triangle

For a triangle with the side measurements of 2, 3, and 5 inches:

2 + 3 is not greater than 5, hence it cannot be a triangle

For a triangle with the side measurements of 3, 3, and 4 inches:

3 + 3 > 4. This can be a triangle

For a triangle with the side measurements of 5, 5, and 5 inches

5 + 5 > 5. This can be a triangle

For a triangle with the side measurements of 4, 4, and 8 inches:

4 + 4 is not greater than 8, hence it cannot be a triangle

For a triangle with the side measurements of 7, 8, and 16 inches:

7 + 8 is not greater than 16, hence it cannot be a triangle

cuántas aristas tiene un cilindro​

Answers

un cilindro tiene dos bordes

You are designing a simulation for which day of the week people are born. You assign numbers to each day of the week, from, Sunday =0 through Saturday =6. You decide to use a sample size of 20.

Use the random number table to conduct your first trial, working from left to right.
39017 66124 37046 59285 15208 47185 76426 23648 51239 88346 59268 71307 37420 69307 98648 45960

Which chart matches the results from your first trial?

Answers

Answer:

In case you have not gotten the answer yet it is the chart, -- 3,3,3,2,3,3,3

Step-by-step explanation:

I took the quiz

6th grade math help me pleaseeee

Answers

Answer:

Top left

Step-by-step explanation:

Look at the numbers it's going through. The x axis is the one going side to side, y is up and down

-4x-3(-44-23)=13


please show the work, i’ll mark brainliest

Answers

Answer:

47

Step-by-step explanation:

Let's solve your equation step-by-step.

−4x−3(−44−23)=13

Step 1: Simplify both sides of the equation.

−4x+201=13

Step 2: Subtract 201 from both sides.

−4x+201−201=13−201

−4x=−188

Step 3: Divide both sides by -4.

−4x

−4

=

−188

−4

x=47

£0.65 in pence maths

Answers

Answer:

65p

Step-by-step explanation:

uhhhh......

I am really confused

10 points plz help!!

Answers

Answer:

38 is pounds, 84 is kilograms, 6 is ounces, 170 is grams, 180 is gallons, 680 is liters, 29 is cubic meters, 1024 cubic feet. If right plz give brainliest.

38 pounds 84 kilograms
6 ounces 170 grams
180 gallons 680 liters
29 cubic meters 1024 cubic feet

A new bank customer with $3,000 wants to open a money market account. The bank is offering a
simple interest rate of 1.4%.
a. How much interest will the customer earn in 30 years?
b. What will the account balance be after 30 years?
a. The customer will earn $ in interest

Answers

Answer:

SI=P*T*R/100

=3000*1.4*30/100

=$1260

Account balance=3000+1260

=$4260

Answer:

Step-by-step explanation:

SI=P*T*R/100

P=3000

t=30

r=1.4%

I=PRT

=3000*1.4*30/100

=$1260

After 30 years?

interest plus current amount

Account balance=3000+1260

=$4260

1/4 BEFORE 7:00 is 6:___? (my parents are giving me hard times rn and i hate it)

Answers

Answer:

The answer would be: 6:45

Step-by-step explanation:

Other Questions
Which plant organ system is responsible for transporting water?a. petalsb. pholemc. leavesd. xylem how can earth support sustain life Carter and his children went into a bakery where they sell cupcakes for $3 each andcookies for $0.50 each. Carter has $35 to spend and must buy a minimum of 15cupcakes and cookies altogether. If x represents the number of cupcakes purchasedand y represents the number of cookies purchased, write and solve a system ofinequalities graphically and determine one possible solution. (I need 2 inequalitys) help, please!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Find the missing length of the right triangle. C = ? B = 8A = 6 does anyone get this i think my answer is wrong help pls ill give brainliest!! What indicates that an area in the Northern Hemisphere is experiencing summer? The Sun is at its lowest point in the sky. The Sun is directly over Earths north end. The Northern Hemisphere receives fewer direct rays from the Sun. The northern end of Earths axis is tilted away from the Sun. A recipe for bread states that the dough must bake for 40 minutes at a temperature of 190C. The oven you are using has temperature marking on the dial that are in units of degrees Fahrenheit. At what Fahrenheit temperature must the bread be baked? What would this temperature be in Kelvins? Work out the value of the missing angle x 30-60-90 triangle..find the value of x What is the surface area of this design?5 in.5 in.8 in.2 in.10 in.440 in490in600in560in Guys plzzzz help me ASAP will give BRAINLIEST What is the square root of -1A. -iB. i C. -1D.1 The total cost of C of gasoline is $3.00 times the number of gallond g. Fill in the table, complete the graph, write th equation, and predict the cost of gasoline given the number of gallons. how many moles are there in 9.2g of ethanol Explain how to get the answer for 972 divided by 9 7. Which line of Hale's speech on p. 75 best shows the author's message to the reader? When you follow the clues in your sources, what does it lead you to?(1 point) conclusions information arguments evidence Please help me!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! . Write a list of ten major technological changes that occured between 1883 - 1913.