Find the deposit required to accumulate $7700 after investing 3 years in an account that pays an APR of 5% compounded quarterly. How much is earned in interest?

Answers

Answer 1

Answer:

The deposit required is $6633.62   and the interest earned is $366.38

Step-by-step explanation:

Compound interest occurs when the interest earned is reinvested rather than paying it out. When it happens interest in the next period is then earned on the principal sum plus 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

It's given the final amount A=$7700 after t=3 years of investment in an account that pays an APR of r=5%=0.05. Since the interests compound quarterly and there are 4 quarters in a year, then n=4.

To find the principal P, we solve the previous equation for P as follows:

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

Substituting:

[tex]{\displaystyle P=7700\left(1+{\frac {0.05}{4}}\right)^{-4\cdot 3}}[/tex]

[tex]{\displaystyle P=7700\left(1+0.0125}\right)^{-12}}[/tex]

P=$6633.62  

The interest earned is:

I = A - P = $7700 - $6633.62 = $366.38

The deposit required is $6633.62   and the interest earned is $366.38


Related Questions

Please help and don’t answer with random letters I actually need the answer
Multiply x ^ (3/4) * x ^ (1/5)
1) x ^ (4/9)
2) x ^ (3/20)
3) x ^ (11/20)
4) x ^ (19/20)

Answers

Answer:

the answer is 4) i think

Step-by-step explanation:

i'm not sure but what i know, if the base is the same number, u can just add the power. for example, the bases is the same number which is x, so u can just solve the power which 3/4 + 1/5 then u get answer.

p/s: sorry for my english

Type the following fractions in order from greatest to least:

5/4, 4/10, 5/12, ¼, 11/12


Write the decimals in the boxes from greatest to least:

0.5, 0.91, 0.04, 0.89, 0.51

Answers

Answer:

Just put the greatest number first and then the second greatest etc

Answer This Question For Brainliest, Tip: It has to be right for brainliest

Answers

Answer:

B.

Step-by-step explanation:

Hope dis helps! :) I know for a fact its correct.

Answer:

The Correct answer for this question is B.

I hope this helps you answer this question.

:)

F(x)=4x+5whsts the value of. F(-3). Is




Answers

Figure out the value

Answer:

F(-3) = -7

General Formulas and Concepts:

Pre-Algebra

Order of Operations: BPEMDAS

Algebra I

Function Notation

Step-by-step explanation:

Step 1: Define

F(x) = 4x + 5

F(-3) is x = -3

Step 2: Evaluate

Substitute:                    F(-3) = 4(-3) + 5Multiply:                        F(-3) = -12 + 5Add:                              F(-3) = -7

The density D of an object is the quotient of its mass m and its volume v

Answers

To find Density you have to divided mass (grams)/volume (mL)

A candy store sells caramels for $9/pound and chocolate for $12/pound. How much more is the cost of 2 pounds of caramel than 1.5 pounds of chocolate? *Show your work*

Answers

Answer:

The caramel is $0 more than the chocolate. In other words, they cost the same.

Step-by-step explanation:

Since we have 2 pounds of caramel and caramel costs $9/pound, the cost of 2 pounds of caramel can be found by this equation:

2lbs · $9 = $18

Since we have 1.5 pounds of chocolate and chocolate costs $12/pound, the cost of 1.5 pounds of chocolate can be found by this equation:

1.5lbs · $12 = $18

To find how much bigger the cost of caramel is than that of chocolate, we will subtract the total cost of the chocolate from the total cost of the caramel.

$18 - $18 = $0

Albert's mom bought

5 2/3

pounds of potatoes. There are 5 people in Albert's

family and they all eat the same amount of potatoes.

How many pounds of potatos will Albert eat?

Answers

When dividing 5 by the lbs of potatoes, use the reciprocal to multiply. You then would have the following, 1 2/15 lbs of potato’s Albert will eat and the rest of the family will eat.

Hope this helps, correct me if I got it wrong :)

A restaurant bill is $75. You want to leave about a 20% tip. Which is a 20% tip?

Answers

75*.20= 15

The tip is $15

A monthly budget with expenses is shown.

MONTHLY BUDGET

for a family of three

in San Antonio, Texas

Rent

$870

Food

$550

PR Child care

$375

Transportation

$480

Utilities

$400

Insurance

$235

Savings

$400

Taxes

$290

Monthly total

Which equation can be used to determine y, the minimum amount of money a family must earn to meet the requirements of this budget for one year?

y = 3600 x 12

y = 3600 + 7

y = 3600 x 4

y = 360052

Answers

Answer:

[tex]y = 3600 * 12[/tex]

Step-by-step explanation:

Given: Breakdown of Monthly Budget

Required

Determine the equation that shows minimum earnings in a year

First, we need to get the sum of the given list of budgets:

[tex]Budget = 870 + 550 + 375 + 480 + 400+235+400 + 290[/tex]

[tex]Budget = 3600[/tex]

The are 12months in a a year; So, the yearly budget (y) is:

[tex]Yearly\ Budget = Monthly\ Budget * Duration[/tex]

[tex]Yearly\ Budget = 3600* 12[/tex]

i.e.

[tex]y = 3600 * 12[/tex]

Given: BC = DA, LCBD = ZADB
Prove: ABCD = ADAB
Statements
Reasons
I need help:(

Answers

B thank....................

Please help!
Part A: Which quantity is the independent variable?
Part B: Which quantity is the dependent variable?
Part C: Which graph is scaled appropriately for this situation?

Answers

Answer:

oooooooooooo

Step-by-step explanation:

mark me as a brainlist

need a little help with this problem

Answers

Answer:

Step-by-step explanation:

Rate (slope) of miles per gallon of gas: m = [tex]\frac{y_{2} -y_{1} }{x_{2} -x_{1} }[/tex]

(0, 0)

(2, 50)

[tex]m_{carA}[/tex] = 25 mi/gal.

(0, 0)

(3, 60)

[tex]m_{carB}[/tex] = 20 mi/gal.

Car B use less gasoline.

Solve for n: 0.22n = 6.6.


Answers

Answer:

30

Step-by-step explanation:

Solve for n: 0.22n = 6.6.

6.6/0.22 (because for example 3/3 and n/n= 1 so 0.22/0.22 = 1 so we have to divide 6.6 since it is part of the equation and we have to do it on both sides.)=30

An 8-foot piece of twine costs $5.76. What is the price per inch?

Answers

Answer:

$0.06

Step-by-step explanation:

First, find how many inches are in 8 feet.

Since 1 foot is 12 inches, multiply 8 by 12:

8(12)

= 96

Then, to find the price per inch, divide the price by the number of inches:

5.76/96

= 0.06

So, the price per inch is $0.06

Answer:

$0.06

Step-by-step explanation:

There are 12 inches in a foot, and there are 8 feet all together, meaning there is 96 inches for $5.76.

Divided the cost y the number of inches to get the cost per inch,

5.76 divided by 96 = 0.06.

×5=30
×5=300
×5=3,000
×5=30,000
×5=300,000
×5=3,000,000
×5=30,000,000

Answers

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From up to down :

[tex]6[/tex]

_________________________________

[tex]60[/tex]

_________________________________

[tex]600[/tex]

_________________________________

[tex]6,000[/tex]

_________________________________

[tex]60,000[/tex]

_________________________________

[tex]600,000[/tex]

_________________________________

[tex]6,000,000[/tex]

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Answer:

1. 6

2. 60

3. 600

4. 6,000

5. 60,000

6. 600,000

7. 6,000,000

Step-by-step explanation:

Can someone Please help with this problem,please help me ASAP !!!l

Answers

Answer:

I'd say B bcs it's the only thing that would fit with the shift on x axis and y axis

A color printer prints 19 pages in 8 minutes.
How many minutes does it take per page?

Answers

Answer:

I believe the answer is two

Step-by-step explanation:

19 divided by eight equasl two

Quick 50 points brainliest
A biologist is studying the growth of a particular species of algae. She writes the following equation to show the radius of the algae, f(d), in mm, after d days:

f(d) = 11(1.01)d

Part A: When the biologist concluded her study, the radius of the algae was approximately 11.79 mm. What is a reasonable domain to plot the growth function? (4 points)

Answers

Answer:

[tex]0\leq d\leq 7[/tex]

Step-by-step explanation:

[tex]11.79=11(1.01^d)\\1.01^d=\frac{11.79}{11} \\1.01^d=1.0718\\ln(1.01^d)=ln(1.0718)\\d ln(1.01)=ln(1.0718)\\d=\frac{ln(1.0718)}{ln(1.01)} \\d=\frac{0.069}{0.0099} \\d=6.9696[/tex]

By rounding up.

d=7

Hence, the domain is

[tex]0\leq d\leq 7[/tex]

Answer:

0<x<d

its so easy if you need help

Write the equation in slope-intercept form of a line that has a slope of 1/3 and passes through the point (-6,0).
A. y=1/3x
B. =1/3x-6
C. y=1/3x-2
D. y=1/3x+2

Answers

The answers is D because I graphed it

HELP PLEASE!! NUMBER 6!!

You will get the brainiest if you can tell me how you did it, so I can finish doing them myself lol. If It comes back right, I will give it you instantly. Thank you very much.

Answers

Answer:

hey it's not clear....

Now that you’ve created your hypotheses, it’s time to prove them. First, look at the sum of two rational numbers. Let’s say they are two rational numbers, x and y. Because they’re rational, they can be written as a ratio of integers. Let x = and y = , where a, b, c, and d are integers and b and d do not equal 0. The process for finding the sum x + y in terms of a, b, c, and d is shown. Statement Reason substitution Create common denominators. Simplify. Based on this sum and using the closure property of integers, what conclusion can you make about the sum of two rational numbers? Explain your answer.

Answers

The question is missing parts. Here is the complete question.

Now that you've created your hypotheses, it's time to prove them. First look at the sum of two rational numbers. Let's say they are two rational numbers, x and y. Because they're rational, they can be written as a ratio of integers. Let [tex]x=\frac{a}{b}[/tex] and [tex]y=\frac{c}{d}[/tex], where a, b, c and d are integers and b and d do not equal 0. The process for finding the sum x + y in terms of a, b, c and d is shown in the figure below.

Based on the sum and using the closure property of integers, what conclusion can you make about the sum of two rational numbers? Explain your answer.

Answer: The sum of two rational numbers equals a rational number.

Step-by-step explanation: Rational number is defined as a number that can be made by dividing two integers.

Closure Property of Integers states the sum or subtraction of two integers always gives an integer.

Using the definition of rational and expanding the property, we can conclude that the sum of two rational numbers will result in a rational number, as demonstrated in the table below.

(Conditionals)
TRUE OR FALSE:
If a number is a perfect square, then it has only 3 factors.

Answers

Answer:

False

I hope this helps!

Error Analysis A contractor purchases 4 dozen pairs of padded work gloves for $54.24. She
incorrectly calculates the unit price as $13.56 per pair for the expense report. What is the correct
unit price? What is the error?
The correct unit price is $
per pair.

Answers

Answer:

the unit rate for each pair is $1.13

Step-by-step explanation:

Okay this is how you would do this problem correctly:

we know that 4 dozen pairs of gloves cost $54.24 however we want to know what the cost is for one pair so we have to make a equation by dividing total cost by the number of glove pairs.

$54.24/4 dozen

the reason we are putting 4 dozen instead of just dividing $54.24 by 4 is because we want to know the unit price for each pair of gloves so it would actually look like this:

$54.24/4(12)

Dozen = 12

so we multiply 12 by 4 to get 48 pairs of gloves, we then divide $54.24 by 48 to find our unit rate of pricing for each pair:

$54.24/48 = 1.13

so now we place a dollar sign in front of 1.13 to get your answer:

for every pair bought it costs $1.13

So how did the Analysis A contractor get the wrong answer? well when she had bought the 4 dozen gloves she divided $54.24 by 4, which in this case would make it seem as though the gloves came in a 12 pack of gloves. However she was buying the gloves individually so she would have to multiply 4 by 12 before dividing the total number of gloves from $54.24.    

Write 2 equivalent ratios for 24/30

Answers

Answer:

Two equivalent ratios are: 4:5 and 48/60.

Step-by-step explanation:

Well, you can divide on the first one, and multiply on the second one. Hope it helps!

If a function f is increasing on (a,b) and decreasing (b,c), then what can be said about the local extremism of f on (a,c)?

Answers

Answer:

The point (b, f(b)) is a local maximum.

Combine like terms: 4 - 3m - 1 + 2m

Answers

Answer:

-m+3

Step-by-step explanation:

4 - 3m - 1 + 2m

4-1-m

-m+3

Use the inequality below to find the value of r .
150 - 5 r ≥ 87.5

a. r ≥ 12.5
b. r ≤ 12.5
c. r ≥ -(12.5)
d. r ≤ -(12.5)

Answers

.....the answer is d

how would i slove for x??

Answers

Answer:

x=12

Step-by-step explanation:

First you need to find the 3rd angle.

180-118=x

x=62

Once you have that 3rd angle, set all the inside angles equal to 180

4x-6+5x+16+62=180 ---> set to 180

9x+72=180 -->combine like terms

9x=108 --> subtract 72 from both sides

x=12 -->divide both sides by 9

3x = 0.5.x2
o o
O x= -6 or x = 0
O
x= -4 or x = 3
o
x = -2 or x = 1.5
x = 0 or x = 6

Answers

Answer:

the answer is x=0 or x=6, hope this helps

Ava bought 1.7 lb of plums and 7.2 lb of peaches how many was her total. Plums:$0.23. per pound peaches:$1.22 per pound​

Answers

Answer:

0.391+8.42=8.811

8.811 in dollars is 10.42 United States Dollars

Step-by-step explanation:

Your answer is 10.42 c:

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