How much interest will you earn if you deposit
$4000 into an account compounded semi-annually
at 2.8% for 5 years?

Answers

Answer 1

Answer:

45215.31

Step-by-step explanation:

Answer 2

$596.6 is the interest will you earn if you deposit $4000 into an account compounded semi-annually at 2.8% for 5 years.

What is compounding?

Compounding is the process whereby interest is credited to an existing principal amount as well as to interest already paid. Compounding thus can be construed as interest on interest—the effect of which is to magnify returns to interest over time, the so-called “miracle of compounding.”

According to question,$4000 into an account compounded semi-annually at 2.8% for 5 years.

We have to find interest rate.

Formula for compound interest is [tex]P[(1+i)^n-1][/tex]

Since compounding is semi-annually,

[tex]i=\frac{0.028}{2}[/tex][tex]=0.014[/tex] (since compounding is semi-annually)

[tex]n[/tex]=number of years=[tex]5[/tex] ×[tex]2=10[/tex] years (since compounding is semi-annually)

So, compound interest

[tex]=[/tex][tex]P[(1+i)^n-1][/tex]

[tex]=4000((1+0.014)^{10} -1))[/tex]

[tex]=4000[/tex]×[tex]0.1491[/tex]

[tex]=596.6[/tex]

Hence we can conclude that,$596.6 is the  interest will you earn if you deposit $4000 into an account compounded semi-annually at 2.8% for 5 years.

Learn more about  compound interest here:

https://brainly.com/question/14295570?referrer=searchResults

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Related Questions

A fair coin is tossed (heads or tails) 9 times. What is the probability that the coin will land “heads” exactly 3 out of the 9 times?

Answers

Answer:

Step-by-step explanation:

The total number of tosses is 9

The number of successes is 3

P(heads 3 times ) = 3/9

P(heads 3 times) = 1/3

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Answer:

You said quick so here it is

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y-intercept = (0,3)

Step-by-step explanation:

The roots of the function f(x) = x2 – 2x – 3 are shown. What is the missing number?

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Step-by-step explanation:

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Answers

You are adding by 5 in the sequence.
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Answers

Answer:

5

Step-by-step explanation:

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Answers

Answer: 160

Step-by-step explanation: The questions says that there are 144 which make up 90% of the total group.

What is the other 10%? To figure this out, we can set up a proportion which we can do in the following way:

144/t = 90/100

From here, you can cross multiply 144 x 100 = 14,400

90t = 14,400

t= 160

You can always check by plugging 160 into t to make sure the proportion is equal. I picked t as my varriable of choice which stands for team members. But you can pick an varriable (letter) to find an unknown.

In practice, is best that your child uses a calculator because in the real world, its a practical handy tool and one doesn't have time to memorize every detail by doing that long division. Once your child gets the hang of practicing setting up proportions, your child can solve a variety of problems without going back in circles.

Hope this explanation helps. Best of luck to you and your child.

11)
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Answers

Answer:

f(- 2) = - 9

Step-by-step explanation:

Substitute x = - 2 into f(x) , that is

f(- 2) = (- 2)² + 5(- 2) - 3 = 4 - 10 - 3 = 4 - 13 = - 9

PLEASE HELP I WILL MARK YOU BRAINLEST!!!
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Answers

Answer:

D.

Step-by-step explanation:

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Answers

Answer:

total cost = 10 • months + 100

Step-by-step explanation:

The $100 application fee is extra, only needed to pay once. The $10 per month is multiplication. $10 • the number of months.

Sec one on your computer

After the elves had hung 25% of the ornaments on the North Pole tree, there
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begin with?

Answers

Answer:

640

Step-by-step explanation:

x = total amount of ornaments

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Solve the inequality and graph the solution.
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Answers

Answer:

J=8

Step-by-step explanation:

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Marcus sleeps 60 hours a week this is 5 times as many hours as he plays chess. How many hours a week does Marcus play chess?

Answers

Answer: 12 hours a week

Step-by-step explanation:

60/5 = 12

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(GIVING BRAINLIEST AND EXTRA POINTS) A multiplication expression with a product of 108,064 is shown below. What is the missing digit?



2
3
4
5

Answers

Answer: The missing digit is 2.

Step-by-step explanation:

4,912*22= 108,064

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yes it is. goodluck!

Bob purchased 2 hot dogs and 1 hamburger for S10. Later that day, Bob had to purchase more food and
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Answers

Answer:

Hotdog: $3.00

Hamburger: $4.00

Step-by-step explanation:

For the first time that Bob buys food, we can make an equation to find how much a single hotdog and a single hamburger costs, where:

x = cost of a hotdog

y = cost of a hamburger

He bought 2 hotdogs and 1 hamburger for $10, so the equation for his first time buying food is:

2x + y = 10

For the second time buying food, he bought 1 hotdog and 3 hamburgers for $15, so his equation would be:

x + 3y = 15

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Using the second equation, we can solve for x by simply subtracting 3y from both sides:

x = 15 - 3y

We can then insert this value of x into the first equation so that way we are only dealing with one variable to solve - y:

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30 - 6y + y = 10

30 - 5y = 10

-5y = -20

y = 4

This means the cost for one hamburger is $4. But we still need to find the price of one hotdog, so we can insert this value of y into the equation we came up with earlier for x, and then solve for x:

x = 15 - 3y

x = 15 - 3(4)

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7 x [(7 + 7) = 7
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Answers

Answer:

[tex] \frac{1}{14} [/tex]

Step-by-step explanation:

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Answers

Answer:

it fits around [tex]\pi[/tex] times which is approximately 3 times

Step-by-step explanation:

[tex]\pi[/tex]

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Answers

Step-by-step explanation:

the formula for the sum of the first n terms of a geometric sequence is

Sn = s1(1 - r^n)/(1 - r)

with r being the common ratio and s1 is the first term.

so,

S15 = 7×(1 - (-3)¹⁵)/(1 - -3) = 7×(1 - -14,348,907)/4 =

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florida sales tax is 7%. How much money comes out of your pocket if u buy something for $100

Answers

Answer:

$7

Step-by-step explanation:

If you use "Is over of" the equation will be ?/100*7/100, therefore after simplifying your answer is $7

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Answer:

8.3 44444 is the answer

Step-by-step explanation:

A researcher at the Centers for Disease Control and Prevention is studying the growth of a certain bacteria. He starts his experiment with 200 bacteria that grow at a rate of 2% per hour. He will check on the bacteria every 7 hours. How many bacteria will he find in 7 hours? Round your answer to the nearest whole number.

Answers

The population of the bacteria after 7 hours is 230 bacteria.

An exponential function is given by:

y = abˣ

where y, x are variables, a is the initial value of y and b is the multiplier.

Let y represent the population of bacteria after x hours.

Given that he starts his experiment with 200 bacteria, hence

a = 200

The bacteria grow at a rate of 2% per hour, hence:

b = 100% + 2% = 1.02

The exponential equation becomes:

y = 200(1.02)ˣ

After 7 hours:

y = 200(1.02)⁷ = 230

The population of the bacteria after 7 hours is 230 bacteria.

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a. Morning rain showers dropped 1/3 of an inch of rain. Later that day, another storm passed through and dropped 1/8 inch of rain. How much more rain fell in the morning than in the afternoon?

Answers

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Step-by-step explanation:

1/3x8/8=8/24

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A. $10

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Answer:

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Answers

Answer is highlighted in blue. If you have any questions feel free to ask.
We can find the slow by using the formula y2-y1/x2-x1. We have (-4, -6) and (2, 6). 6+6/2+4 is 12/6 which is 2. We need to put this into point slope form before putting this into slope-intercept form.

I will use the coordinates (2, 6).

y - 6 = 2(x - 2)

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What is log Subscript 5 Baseline (4 times 7) + log Subscript 5 Baseline 2 written as a single log?

Answers

log5(4*7)+log5(2)=log5(28)+log5(2)=log5(56)

Answer:

Its D

Step-by-step explanation:

just took the test

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