If you deposit $5000 into an account paying 6% annual interest compounded monthly, how long until
there is $8000 in the account?

Answers

Answer 1

Answer:

7.85 years which I think rounds to about 7 years and 11 months

Step-by-step explanation:

The formula for compound interest is

[tex]AV=PV*(1+\frac{i}{n})^{t*n}[/tex]

Where AV = Accumulated Value (or Future value)

PV= Present value

i= nominal interest rate

n= number of times compunded in a period (here a period is a year)

t= number of periods (years in this case)

We can plug this numbers in to get

8000=5000*(1+(.06/12))^12x

First we divide by 5000 to get

1.6=(1.005)^12x

We can rewrite this into a logarithim

log₁.₀₀₅1.6=12x

The formatting here is kind of weird but I'm trying to say that log base 1.005 1.6 = 12x

We can compute this and get

94.2355=12x

divide by 12 to get that

x=7.85 Years


Related Questions

Rebecca carries a balance on her credit card each month. Today is the first day of the new, 28-day billing cycle. The current balance is x and the APR is 24%. Rebecca is buying a friend an expensive gift that costs $1,400 that she plans to put on her credit card. This will be her only purchase this month, and she will be making this purchase on the last day of the month. If her finance charge will be $51, write and solve an equation to determine her current balance on her credit card.

Answers

Answer:

Average date*Interest=Finance charge

Previous debt*2%´+1400*2%=51

Previous debt=1150

Step-by-step explanation:

X=Previus Debt

Debt= Previus debt + 1400

Finance Charge 51.

Debt=1400+1150= 2550

Average debt= Previus debt + 1400

Average date*Interest=Finance charge

Previous debt*2%´+1400*2%=51

Previous debt=1150

  Interest capital Debt Payment

1     51 213       2,338 264

2     47 213        2,125 259

3     43 213         1,913 255

4      38 213        1,700 251

5     34 213        1,488 247

6      30 213        1,275 242

7     26 213        1,063 238

8     21 213          850 234

9     17   213          638 230

10     13         213          425 225

11      9         213           213 221

12      4          213               0 21

express 4037 in standard form​

Answers

Answer: 4.037 × 10³

Step-by-step explanation:

If you simplify 4.037 × 10³, you get 4037

4.037 × 10³

4.037 × 1000

4037

Hope this helped!

What is the area of the rectangle with points of (-5,5) (-1,7) (0,-5) (4,-3)

Answers

Answer

l =5

w =2

Area of Rectangle= l ×  w

                            =  5 × 2 = 10

Diagram is attached to this:    

Step-by-step explanation:

PLEASE HELP ME ASAP! IM SUPERRR CONFUSED
HOW DO I SOLVE
18 = x – 9
????????

Answers

Answer: 27

Explanation: This question is pretty easy, no hard math involved. all you need to do is 18+9

If x = 10 and y = -5, then what is the value of 9x - 3y - 12?

Answers

Answer:

93

Explanation:

x = 10y = -5

9x - 3y - 12

Substitute 10 for x and -5 for y

9(10) - 3(-5) - 12

= 93

4. A car uses 5 gallons of gas for every 120 miles it travels. a. Complete the table. Graph the values. Gas (gal) 20 Distance (mi) 120 360 b. How many gallons of gas does the car use if it travels 600 miles? c. How far can the car travel if it uses 30 gallons of gas?​

Answers

Answer:

14400 gallons of gas

Step-by-step explanation:

Simple math question (Pic provided) (Algebra)

Answers

Answer:m<k+m<k=180+167-133=100

Step-by-step explanation:

Write and solve an inequality that represents the values of x for which the area of the rectangle will be at least 35 square feet.

Answers

Explanation:

There really is not enough information here. You have not indicated how x is related to the rectangle.Perhaps (as an alternative to the assumption I made [above]), you meant for x > 0 to be the length of one side of a square.

I have attached the answer in the picture.

Find Equations for the line

Answers

Answer:

Step-by-step explanation:

(-3, -1) and (3, 2)

(2 + 1)/(3+3)= 3/6= 1/2

y + 1 = 1/2(x + 3)

y + 2/2 = 1/2x + 3/2

y = 1/2x + 1/2

Evaluate the expression if x=6.7x

Answers

Answer: x=1

Step-by-step explanation: x=6.7(x)

The ratio of boys to girls at a movie is 4:5. If there are 15 girls, how many boys are at the movie?

Answers

Answer:

There are 12 boys at the movie.

Step-by-step explanation:

Key skills needed in order to solve: Proportions, Ratios, and Multiplication

1) The ratio is 4 boys : 5 girls --> It can be written as a fraction --> 4/5

2) If there are 15 girls, we need to find the number of boys. let's say x is the number of boys when there are 15 girls. The ratio would then be x/15

3) Make a proportion --> [tex]\frac{4}{5}[/tex] = [tex]\frac{x}{15}[/tex]

You have to cross multiply here. You do the first fraction's numerator times the second fraction's denominator, and the first fraction's denominator times the second fraction's numerator.

4) This means you have to do: 4(15) = 5(x)

5) Multiply it out --> 60=5x

6) Divide by 5 and you will get x=12

Therefore there are 12 boys at the movie.

Hope you understand and have a nice day!! :D

Which expression gives the best estimate of 30 percent of 61?
1/5(60)
1/10(60)
1/4(60)
1/2(60)

Answers

Answer:

The answer is 1/5 (60)

Why does it have be at least 20 words before I can send it

Answer: C is correct also 1/4(60)

Step-by-step explanation:

ur welcome buddo

Which expression is a sum of a number and product. Answers. .8+3x .X+1 over 5 2(x-9). 5+x-4

Answers

Answer:

8 + 3x

Step-by-step explanation:

A product is a multiplication, such as 3 * 5, 2x, 4y.

3x is a product.

8 + 3x is the sum of the number 8 and the product 3x.

Answer: 8 + 3x

Solve the equation. k − 34 = 71

Answers

Answer:

105

Step-by-step explanation:

[tex]k − 34 = 71 \\ \\ k = 71 + 34 \\ \\ k = 105[/tex]

Answer:

k=105

Step-by-step explanation:

34+71=105

Exchange rates help you to know ____.

when it is best to travel

how much your currency is worth in another currency

what other economies think of your money

when to exchange your money

Answers

Answer:

B

Step-by-step explanation:

how much your currency is worth in a different currency

hope this helps <3

p=7q-3 make q the subject​

Answers

Answer:

q = (P + 3) / 7

Step-by-step explanation:

Give the expression :

P=7q-3

To make q the subject

Isolate 7q by adding 3 to both sides

P + 3 = 7q + 3

P + 3 = 7q

To. Isolate q alone, multiply both sides by 1/7

(P + 3) * 1/7 = 7q * 1/7

(P + 3) / 7 = q

q = (P + 3) / 7

Slope = 3/4 and y intercept of 1

Answers

Answer:

It's in the attached file below :)

Step-by-step explanation:

What is the perimeter of ABC with vertices A (-2,9) , B (7,-3) , C (-2,-3) in the coordinate plane?
A. 21 units
B. 15 units
C. 34 units
D. 36 units

Answers

9514 1404 393

Answer:

  D.  36 units

Step-by-step explanation:

Using the distance formula, we find the length of AB to be ...

  d = √((x2 -x1)² +(y2 -y1)²)

  d = √((7-(-2))² +(-3-9)²) = √(81 +144) = √225 = 15

The line BC is horizontal, so its length is the difference of the x-coordinates:

  BC = 7 -(-2) = 9

The line AC is vertical, so its length is the difference of the y-coordinates:

  AC = 9 -(-3) = 12

The sum of the lengths of the sides of the triangle is ...

  P = 15 + 9 + 12 = 36

The perimeter is 36 units.

i hate callmecarson

he is so mean and evil

Answers

how is he mean?
did he do smt to you?

Answer:

who is he and what has he done, if you don't mind me asking

help MEEEEEE PLEASEEEEEEE

Answers

Answer:

4 1/3 hours

Step-by-step explanation:

Since he will have completed 7 hours AFTER 2 2/3 more hours, he has completed 7- 2 2/3 = 4 1/3 hours so far

The answer would be 4 1/3 hours

Can someone please help me with numbers 4 and 5!!!

Answers

Answer:

Area: 378.5

Perimeter: 71.4

Step-by-step explanation:

Area = 3 square + 2 semicircle

A = 3 x 10² + 2 x (3.14 x 5²)/2 = 300 + 78.5 = 378.5

perimeter = 2 square/2 + 2circle/2

P = 2 x(10 + 10) + 2 x (2 x 3.14 x 5) / 2 = 40 + 31.4 = 71.4

The difference between 16.03 and 7.385 is …….
Need help asap

Answers

Answer:

8.645

Step-by-step explanation:

use the algorithim to show your work :

16.03

- 7.385

 8.645

don't forget to line up the decimal points

Can anyone help please

Answers

Answer:

16 cups

Step-by-step explanation:

8 fluid ounces in 1 cup

So 128/8=16

16 cups

16 cups of fruit punch

The price of an item has been reduced h 45% the original price was $49

Answers

Answer:

$26.95, you save  $22.05

Step-by-step explanation:

$49 x 0.45 = $22.05 savings, 49 - 22.05 = 26.95

which expression are eguivalent to x+2y+x+2

Answers

Answer:

2x + 2y + 2

Step-by-step explanation:

x + 2y + x + 2

1. Combine like terms

x + x = 2x

there is only one y and one number w.out variable so you cannot combine anything else

2x + 2y + 2

and u cannot simplify it anymore

Hope this helped!

tryna get free points sorry

If someone was to conduct a study in the field of microeconomics, which of the following questions might the arrempt to answer?

Answers

Answer:

When will a firm decision expand, downsize, or close?

hope this helps!!:)

Step-by-step explanation:

1)10 = z+ 6
2) 8y = 48
3) q-12 = 1
6)11 = m-4
7)t-19=2
8)1+S = 3
9)24 = 4c
Please explain how these are solved please respond quickly

Answers

1. Z=4 10-6
2 y= 6 48/8
3. Q= 13 12+1
6 m=15 11+4
7. 21 19+2
8. S=2 3-1
9. C=6 24/4

which ratios are equivalent to 12:24? I have to select each correct answer.​

Answers

Answer: 1:2, 2:4, 3:6, 4:8, 5:10, 6:12, 7:14, 8:16, 9:18, 10:20, 11:22, 13:26, 14:28, 15:30

Step-by-step explanation:

These r just a few.

Hope this helps :)

Evaluate the function.
Given f(x) = x2 - 4x2 - 3x - 5, find f(5).

Answers

Answer:

5

Step-by-step explanation:

Write your answer with no space and any fraction with “/“

Answers

Answer:

y+3=-1/2(x-1)

Step-by-step explanation:

Point-slope form of a line is given by the equation y - b = m(x - a), where,

(a, b) = is a point on the line

m = slope of the line.

A line that is perpendicular to y = 2x - 1 will have a slope value that is the negative reciprocal of the slope of the line.

The slope of the line, y = 2x - 1, is 2.

The negative reciprocal of 2 = -½.

The slope of the line that is perpendicular to y = 2x - 1 is -½.

Thus, m = -½.

Let's find the equation of the perpendicular if it passes through the point (1, -3).

Substitute (a, b) = (1, -3), and m = -1/2 into y - b = m(x - a).

Thus:

y - (-3) = -1/2(x - 1)

y+3=-1/2(x-1)

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