Melanie is going to invest in an account paying an interest rate of 3.1% compounded
daily. How much would Melanie need to invest, to the nearest dollar, for the value of
the account to reach $11,900 in 14 years?

Answers

Answer 1

Using compound interest, it is found that Melanie would need to invest a value of $7,710.

What is compound interest?

The amount of money earned, in compound interest, after t years, is given by:

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

A(t) is the amount of money after t years.  P is the principal(the initial sum of money).  r is the interest rate(as a decimal value).  n is the number of times that interest is compounded per year.  t is the time in years for which the money is invested or borrowed.

In this problem, we have that:

Rate of 3.1%, hence [tex]r = 0.031[/tex].Compounded daily, hence [tex]n = 365[/tex].Value of $11,900 in 14 years, hence [tex]t = 14, A(t) = 11900[/tex].The amount she needs to invest is P.

Hence:

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

[tex]11900 = P\left(1 + \frac{0.031}{365}\right)^{365(14)}[/tex]

[tex]1.54339P = 11900[/tex]

[tex]P = \frac{11900}{1.54339}[/tex]

[tex]P = 7710[/tex]

Melanie would need to invest a value of $7,710.

To learn more about compound interest, you can take a look at https://brainly.com/question/25781328


Related Questions


ANSWER ASAP WILL MARK BRAINLIEST

Answers

Answer:

8.5

Step-by-step explanation:

(19x19)-(17x17)=72

square root of 72

What is the product? StartFraction 4 k + 2 Over k squared minus 4 EndFraction times StartFraction k minus 2 Over 2 k + 1 EndFraction StartFraction 4 Over 2 k + 1 EndFraction StartFraction 2 Over k minus 2 EndFraction StartFraction 2 Over 2 k + 1 EndFraction StartFraction 2 Over k + 2 EndFraction

Answers

Answer:

[tex]\frac{2}{k+2}[/tex]

Step-by-step explanation:

Given the expression:

[tex]\frac{4k+2}{k^2-4} * \frac{k-2}{2k+1}[/tex]

We are to find the product as shown:

[tex]= \frac{4k+2}{k^2-4} * \frac{k-2}{2k+1}\\\\= \frac{2(2k+1)}{k^2-2^2} * \frac{k-2}{2k+1}\\\\= \frac{2(2k+1)}{(k-2)(k+2)} * \frac{k-2}{2k+1}\\\\= \frac{2}{k+2} * 1\\\\= \frac{2}{k+2}[/tex]

Hence the required function is [tex]\frac{2}{k+2}[/tex]

d. StartFraction 2 Over k + 2 EndFraction

aka

d. 2/k+2

2. Solve for the x.
8
16
7

Answers

Answer:

Theres no equation here?

Step-by-step explanation:

A large bowl holds 5 2/3 cups of punch. Some more punch is added to the bowl to make a total of 10 cups of punch. Let represent the number of cups of punch that are added to the bowl. Write and solve an equation to find the number of cups of punch that are added to the bowl.

Answers

Answer:

4 1/3 cups

Step-by-step explanation:

All you have to do for this one is subtract 5 2/3 from 10, which is 4 1/3. Your equation could be 10-5 2/3=x.

Write an equivalent expression.
​-2(8+5g)

Answers

Answer:

-16 - 10g

Step-by-step explanation:

All I did was distribute

-2*8 + -2*5g

-16 - 10g

(+ -) additive inverse

jessie served 13 pints of orange juice at her party
how many quarts of orange juice did she serve

Answers

Answer:

6 1/2

Step-by-step explanation:

Answer:

6.5 quarts.

Step-by-step explanation:

This is rather simple math because 2 pints equal 1 quart. You divide 13 by 2, which is an uneven number so you are guaranteed a half, and you get 6.5

Trevion is training for a marathon. In February, he ran XLVII miles for his training. In January, he was only able to run XXIV miles. How many more did he run in February than in January?

Answers

Answer:he ran 23 miles / XXIII miles more in February than March

Step-by-step explanation:

February = He ran XLVII ---   converting to numbers  becomes

XL= 40

VII=   7

XLVII= 47

In march he ran  XXIV--- converting to numbers becomes

XX= 20

IV= 4

XXIV= 24

Step 2

To find how many more he ran in February than March

Miles ran in February - Miles ran in March

47- 24=23.

Therefore he ran 23 miles / XXIII miles more in February than March

Answer:

pretty much answer c

Step-by-step explanation:

Work Out:
3/4 + 1/8=​

Answers

I agree with the answer above :)

Madelyn is in a hot air balloon that has just taken off and is floating above its launching point. Eddie is standing on the ground, 6 meters away from the launching point. If Madelyn and Eddie are 9 meters apart, how high up is Madelyn? If necessary, round to the nearest tenth.
Ill be marking brainliest

Answers

Answer:

8.9 meters

Step-by-step explanation:

this seems like a problem where you can use the pythagorean theorem:

you know one of the two legs (6m) and  the hypotenuse (9m), you must find the other leg

a^2 + 6^2 = 9^2

a^2 + 36 = 81

a^2 = 45

a = [tex]\sqrt{45}[/tex] or [tex]\sqrt{9}[/tex] · [tex]\sqrt{5}[/tex] which simplifies to be 3[tex]\sqrt{5}[/tex] or approx. 8.9 meters

Over what interval is the function nonlinear?

Answers

Answer:

Step-by-step explanation:

3rd one

Find the area of the shape. Need an answer immediately.

Answers

Answer:

A= 113.1 (I rounded my answer)

Step-by-step explanation:

A=πr^2=π·6^2=113.09734

27 = -3x - 9 plssss helppp​

Answers

Answer:

x = 1-2

Step-by-step explanation:

27 = - 3x - 9

36 = -3x

-12 = x

x = -12

Step-by-step explanation:

27+9=-3x

36=-3x

36 divided by -3=x

-12=x

A model village is built to scale.
It has a scale of 1 : 19.
A road has a real-life length of 1.14 km.
What is the length of the road in the model village in m?

Answers

Answer:

The length of the road in the model is 60 m.

Step-by-step explanation:

Given: scale = 1:19

         real-life length of the road = 1.14 km

                                                      = 1140 m

Let the length of the road in the model be represented by d. A scale is a representative fraction that can be used to either increase or decrease the length of an object.

Scale = [tex]\frac{length on drawing}{actual length}[/tex]

The actual length is the real-life length given as 1140 m.

So that,

[tex]\frac{1}{19}[/tex] = [tex]\frac{d}{1140}[/tex]

19d = 1140

⇒ d = [tex]\frac{1140}{19}[/tex]

       = 60

Therefore, the length of the road in the model is 60 m.

Simplify: 3(2a + b) - 5(a – 3b)

Answers

I think it’s a+18b
I’m not sure but hope it’s right

The sum of 3 times a number and 5 is equal to 9.

Answers

Answer:

Let x equal “a number”

3x+5=9

Answer:

x = 4/3 or 1.33333333333333333333333(infinite 3)

Step-by-step explanation:

3 times a number =  3x

sum = addition

3x + 5 = 9

now balance equation, get numbers without x on same side. Subtract 5 from both sides, this will leave 3x on one side, and 9-5 on the other side.

3x = 4, now divide by 3 on each side to get x on one side

3x/3 = 4/3

x=4/3

4/3 = 1.33

3 x 1.33 +5 = 9

Can someone please help me?

Answers

Answer:

yes

Step-by-step explanation:

Gasoline costs $3.65 a gallon Which is an estimated cost of 14.2 gallons of gasoline?

Answers

Answer:

the answer is $51.83  

Step-by-step explanation:

Answer:

40 or 56 because 3.65 x 14.2 is gonna equal 51.83

What is the first step in solving x^2 +14x-43=3 completing the square?

Answers

Answer:

Step-1 : Multiply the coefficient of the first term by the constant

Step-by-step explanation:

Answer:

step 1 = Subtract 3 from both sides

step 2=  Use quadratic formula with a=1, b=14, c=-46

Answer to the equation = x=−7+√95 or x=−7−√95

A larger number is 2 more than 4 times a smaller number. The larger number is also 8 more than 2 times the smaller number. y = 4x+2, y = 2r+8 What is the value of the smaller number in the mathematical problem?​

Answers

Answer:

3

Step-by-step explanation:

I got it wrong so then it told me what the correct answer was:)

What is the y-intercept of y
- 2x + 6?
Choose 1 answers
(6,0)
B
(0,6
(-2,0)
(0, -2)

Answers

Answer:

(0,6)

Step-by-step explanation:

Solve by using elimination. Express your answer as an ordered pair.
answer choice
(3, 5)
(11, 36/7)
(5, 3)
(8, 6)

Answers

Answer: (5,3)

Step-by-step explanation:

A handful of coins has the value of 1 dollar and 79 cents. There are three times as many dimes as quarters, and five more pennies than dimes. If there are only three types of coins, how many coins of each type are there?

Answers

Answer: There are 3 quarters , 9 dimes and 14 pennies.

Step-by-step explanation:

Let x= Number of quarters

Then, Number of dimes = 3x

Number of pennies = 3x+5

1 quarter = $ 0.25

1 dime = $0.10

1 penny = $ 0.01

So, Total amount = 0.25x+ 0.10(3x) + 0.01(3x+5)

= 0.25x+0.30x+ 0.03x+0.05

= 0.58x+0.05

Since Total amount = 1 dollar and 79 cents = $ 1.79  [1 cent = $ 0.01]

So,

[tex]0.58x+0.05=1.79\\\\\Rightarrow\ 0.58x= 1.74\\\\\Rightarrow x=\dfrac{1.74}{0.58}\\\\\Rightarrow x=3[/tex]

Thus, there are 3 quarters , 9 dimes , 14 pennies.

Answer:

Step-by-step explanation:

there are 3 quarters , 9 dimes , 14 pennies.

help help help ( I WILL MARK YOU AS BRAINLIEST )

Answers

The answer is 5z or 5xz Product is just a word for multiply
5z is the right awnser

2. Which of the following compositions of transformations would NOT map quadrilateral ABCD onto A'B'C'D'?

Answers

Answer:I picked 4

Step-by-step explanation:

.

Express this answer as a unit rate: $50 for 4 days of work. Lable the unite rate.

Answers

Ans

$12.5/1 day

Step-by-step explanation:

Just cause

12.50 dollars per day


help please i am struggling.

Answers

Answer:

what Netflix show were you watching?

factorise cos²A + 3 Cos A + 2​

Answers

Answer:

[tex](cosA +1)(cosA +2)[/tex]

Step-by-step explanation:

[tex]cos^2(A)+3cos(A)+2[/tex]

Which number add up to 3 and multiply to 2?

That would be 1 and 2.

[tex]cos^2(A)+3cos(A)+2=(cosA +1)(cosA +2)[/tex]

20 points!
Just need help on these questions
I will try to mark brainliest!

Answers

Answer:

the first one is 45% I don't no the second one

Hey guys, I need this question in about 2 minutes, please help.

Answers

Answer:

Well I got 9 log 10 (2)/ 3-3log10 (5)

Please correct me if I am wrong

Step-by-step explanation:

You have to apply the rule alogc (b) (b^a)

= [tex]\frac{log10(\sqrt{8))^{4}-log10((\frac{1}{2}))^{3}) } }{3-6log10(\sqrt{5}) }[/tex]

\frac{\log _{10}\left(\frac{\left(\sqrt{8}\right)^4}{\left(\frac{1}{2}\right)^3}\right)}{3-6\log _{10}\left(\sqrt{5}\right)}

pleaseeee help its due today :(
thank you in advance <3

Answers

Step-by-step explanation:

y = 1 / (cx + a) - b

At the x-axis intercept, y = 0.

=> 1 / (cx + a) - b = 0

=> 1 / (cx + a) = b

=> b(cx + a) = 1

=> bcx + ab = 1

=> bcx = 1 - ab

=> x = (1 - ab) / (bc)

Hence the answer is Option B.

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