Anna invested $28,000 in an account paying an interest rate of 6.5% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach $39,500?

Answers

Answer 1

Answer:

It will take 5.3 years to reach $39,500

Step-by-step explanation:

Compound Interest

It occurs when the interest is reinvested rather than paying it out.

Interest in the next compound period is then earned on the principal sum plus the previously accumulated interest.

The formula is:

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

Where:

A = final amount

P = initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

We are required to find the time needed to convert the principal P into a given final amount.

Solving the above equation for t, we get:

[tex]\displaystyle t=\frac{log(A/P)}{n\cdot log\left(1+r/n\right)}[/tex]

Anne invested P=$28,000 in an account at r=6.5%=0.065 compounded daily. There are 360 days in a year, so n=360. The final amount A=$39,500.

Substituting into the formula:

[tex]\displaystyle t=\frac{log(39,500/28,000)}{360\cdot log\left(1+0.065/360\right)}[/tex]

t=5.3 years

It will take 5.3 years to reach $39,500

Answer 2

Answer:5.3

Step-by-step explanation:


Related Questions

What is the correct answer? ​

Answers

The answer is Cccccccccccccccccccccc

Answer:

C)  y = 10/3x - 5

Step-by-step explanation:

Slope intercept equation is y = mx + b:

    m is the slope

    b is y-intercept

When you read slope you can also read it as rise over run. Rise is move up or down on the y axis depending if number is negative or positive. Run is move left or right on x axis depending if number is negative or positive.

Example: y = [tex]\frac{10}{3} x - 5[/tex]

Start at the y-intercept which is -5. On graph you can see the line crosses the y axis at (0, -5). From this point rise 10 then run 3 you'll end up at point (3, 5). Connect the dots of the two points and you'll see a line like the one in the problem.

Jennifer sells cosmetics. Her commission is 30 percent of the selling price of every item she

sells. What is her commission when she sells cosmetics totaling $717.53?

Answers

Answer:

$215.26

Step-by-step explanation:

717.53*30%= $215.26

ASAP ASAP ASAP ASAP ASAP

Answers

Answer: 364 m squared

Step-by-step explanation:

to find the surface area of a rectangular prism, you must do width*length + hight*length + height*width

Oliver is using plywood to build the skateboard ramp shown. Three sides of the ramp are rectangles. How many square feet of plywood does Oliver need to build the ramp?

I will mark brainliest

Answers

Answer:

18

Step-by-step explanation:

Select all of the statements that are true for the given parabola

Answers

Answer: Please provide statements.

Step-by-step explanation:

Answer:

The maximum is (-1, 6).

The line of symmetry is x = -1.

Step-by-step explanation:

those two

HELP ME LLEASE WUIZ OMG WHAT ARE THE CORDS? 30 points

Answers

Answer: -1/2 and 1/3

Step-by-step explanation:

Pleaseee ANWSER ASAP!!!!

Answers

Answer:

I can't see the fourth option, but the answer would be C.

Step-by-step explanation:

It's the only graph that fits the question.

9h+25=65 find the slope and y-intercept

Answers

This is not a equation so there is no slope or y-intercept
there’s no slope or intercept

John writes the proof below to show that the sum of the angles in a triangle is equal to 180º.

Answers

Answer:

When two parallel lines are cut by a transversal, the resulting alternate exterior angles are congruent.

Step-by-step explanation:

i did it

What are two coordinates on this graph?

Answers

Answer:

(0, 5) and (6, 0)

Step-by-step explanation:

please mark brainliest and have a great day

does the ordered pair (8,48) satisfy the direct equation y=6x? explain why or why not

Answers

Answer:

i think yes the order pair of (8,48) satisfy the direct equation y=6x

Step-by-step explanation:

Janina recorded her scores after playing eight rounds of golf. If a score was under par, she recorded it as a negative number. If a score was over par, she recorded it as a positive integer. Her results are shown below.
−5, +2, +1, −3, −4, −5, −3, +1
What was her mean score for 8 rounds of golf?

Answers

Answer:

hello my name is alyssa what abt you I just have to answer questions to message someone to go off on them

What is the answer for both?​

Answers

Answer:

What is the question from both?

Answer:

(4,2) for the first one

(2,-1) for the second one

to get the answers I got, equate Both

Find the measure of each missing angle.

Answers

Answer:

<1=63°

<2=49°

<3=87°

<4=44°

Step-by-step explanation:

<1=180-68-49=63°

<2=49°

<3=180-93=87°

<4=180-49-87=44°

In this diagram, each square represents 1 km. What is the displacement of the car?​

Answers

Answer: C) 2 km west

Explanation:

With displacement, all we care about is the beginning and end. We don't care about the middle part(s) of the journey. So we'll take the straight line route from beginning to end when it comes to computing displacement.

We start at A(0,0) and end at B(-2,0). Going from A directly to B has us go 2 km west. Keep in mind that displacement is a vector, so you must include the direction along with the distance.

Answer:

c

Step-by-step explanation:

In triangle DEF, segment DJ is a perpendicular bisector of side EF. If EJ is 3y-8 and JF is 7y-40, what is the length of JF?

Answers

Answer: The length of JF = 16 units.

Step-by-step explanation:

Given: In triangle DEF, segment DJ is a perpendicular bisector of side EF.

i.e. DJ is perpendicular to EF and DJ divides EF into two equal parts EJ and JF. [The perpendicular bisector is a line that is perpendicular to a line segment and splits it into two congruent segments.]

If  EJ is 3y-8 and JF is 7y-40.

Then, [tex]3y-8=7y-40[/tex]

[tex]\Rightarrow\ 7y-3y=40-8\\\\\Rightarrow\ 4y=32\\\\\Rightarrow\ y=8 \text{ [Divide both sides by 4]}[/tex]

JF= 7(8)-40 =56-40= 16 units

Hence, the length of JF = 16 units.

Answer:

plz giv brainlist

Step-by-step explanation:

I have a question on this math problem that I'm stuck on

Answers

Answer:

what's the question?..

What is mZCAD?
O 80°
O 20°
O 80°
O 100°
O 110°

Answers

Answer:

The angle of CAD is 100°.

Step-by-step explanation:

Given that total angles in a triangle is 180° so you will have to find the angle of CAB :

∠CAB + ∠ACB + ∠ABC = 180°

∠CAB + 80° + 20° = 180°

∠CAB + 100° = 180°

∠CAB = 180° - 100°

∠CAB = 80°

Next, you have to subtract it from 180° because straight line have a degree of 180°

∠CAD = 180° - 80°

∠CAD = 100°

L M A O L M A O L M A O L M A O

Answers

not sure if this is a question im confused

you so funny

Step-by-step explanation:


If two angles of measure (x + 3)º and (2x – 9)º
complementary, then what is the value of x?

HELP ME FAST.

Answers

Step-by-step explanation:

(X+3)(2x_9)

3x+12_12=90_12

3x=90_12

3x=78

X=26°

4. Which r - value suggests a strong
positive correlation?
r= 0.1847
r= -0.1847
r= 0.9974
r= -0.9974

Answers

Answer:

It would be r= 0.9974.

The closer the r value is to 1 or -1 the stronger it is.

Positive and negative are just determining what "side" its on.

Let me know if this helps!

a concert started at 5:22pm on friday. the concert ended at 7:04 pm. how long did the concert last?

Answers

Answer:

1 hour and 42 min

Step-by-step explanation:

1 hour and 42 minutes would be you answer

If you look online there are calculators specifically for time and that’s how I got the answer

need rn! worth 13 ~ what is the equation of the parabola? 謝謝

Answers

Answer:

Its B.

Step-by-step explanation:

Emath.com- Parabola calculator

what is the domain of f(x)=2x is all real number or all positive number or all positive and zore

Answers

Answer:

The domain is all real numbers

Step-by-step explanation:

There aren't any restrictions like a square root, an even exponent, or a denominator. If you ever get stuck, feel free to use something like the Desmos graphing calculator to graph out the equation.

A student answers 70% of the questions on a math exam correctly. If he answers 21 questions correctly , how many questions are on the exam ?

Answers

Answer:

There are 30 questions

Step-by-step explanation:

70%=21

70%÷7=10%

21÷7=3

10%=3

10%×10=100%

3×10=30

Hope this helped :)

What is the slope-intercept equation for the line below?

Answers

Can you please show us the graph ?

Answer:

dumb dumb

Step-by-step explanation:

Use the the image below to determine the angle type, relationship, value of x, and the missing angle measures.

Type =
Relationship =
Value of x =
Missing angle measures =

Answers

Answer:

Name: alternate exterior angles

Relationship: they are congruent. (15x + 5)° = (14x + 11)

Value of x: 6

Missing angle measures: 95°

????????? Help pls & thanks

Answers

Top left is the right answer hope this helps <3

ILL MARK U BRAINLIEST!!

Answers

Answer:

It's the bottom one.

Step-by-step explanation:

number one makes no snese because inside of you there is no light

number two, heat and thermal are the same thing

number three, there isn't really potential energy inside you, not in the process of the energy transformation of food.

The bottom one makes the most sense because if you think about all of the steps, it goes chemical (stomach acid), there is also some heat in there, and then mechanical when the food moves from place to place

Answer:

The answer is D

Step-by-step explanation:

can you pls help this is 6th grade math

Answers

The answer is b ..................

Answer: 12 red 9 blue

Step-by-step explanation:

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