Lillian is going to invest in an account paying an interest rate of 5.7% compounded continuously. How much would Lillian need to invest, to the nearest ten dollars, for the value of the account to reach $7,600 in 7 years?

Answers

Answer 1

Answer:

She has to invest $5,160 for the value of the account to reach $7,600 in 7 years.

Step-by-step explanation:

Continuous compounding:

The amount of money earned, after t years, in continuous compounding, is given by:

[tex]A(t) = A(0)(1+r)^t[/tex]

In which A(0) is the value of the initial investment and r is the interest rate, as a decimal.

Lillian is going to invest in an account paying an interest rate of 5.7% compounded continuously.

This means that [tex]r = 0.057[/tex]

How much would Lillian need to invest, to the nearest ten dollars, for the value of the account to reach $7,600 in 7 years?

We have to find A(0) when [tex]A(t) = 7600, t = 7[/tex]

So

[tex]A(t) = A(0)(1+r)^t[/tex]

[tex]7600 = A(0)(1+0.057)^7[/tex]

[tex]A(0) = \frac{7600}{(1.057)^7}[/tex]

[tex]A(0) = 5156[/tex]

To the nearest ten dollars, she has to invest $5,160 for the value of the account to reach $7,600 in 7 years.


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Answers

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Answers

Answer:

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Step-by-step explanation:

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Answers

Answer:

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Step-by-step explanation:

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Answers

Answer:

Step-by-step explanation:

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Answers

Answer:

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Step-by-step explanation:

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Answers

Answer:

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Step-by-step explanation:

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Answers

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Step-by-step explanation:

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Answers

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Step-by-step explanation:

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Step-by-step explanation:

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Answers

Answer:

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Step-by-step explanation:

Properties for acute, obtuse or right triangle,

1). Given triangle will be a right triangle if,

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Step-by-step explanation:

Answer:

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Step-by-step explanation:

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Answers

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Answers

Answer:

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Step-by-step explanation:

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Answer:

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Answers

Answer:

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Step-by-step explanation:

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Answers

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Step-by-step explanation:

Answer:

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Answers

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Answers

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Step-by-step explanation:

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