questionSuppose $24,000 is deposited into an account paying 7.25% interest, which is compoundedcontinuouslyHow much money will be in the account after ten years if no withdrawals or additional depositsare made?

Answers

Answer 1

This is a compound interest question and we have been given:

Principal (P) = $24000

Rate (r) = 7.25%

Years (t) = 10

However, we are told this value is compounded continuously. This means that for every infinitesimal time period, the value keeps being compounded.

The formula for finding the compound interest is:

[tex]\text{Amount}=P(1+\frac{r}{n})^{nt}[/tex]

But because the compounding period is continuous and therefore, infinitesimal,

[tex]\begin{gathered} Amount=P(1+\frac{r}{n})^{nt} \\ But, \\ n\to\infty \\ \\ \therefore Amount=\lim _{n\to\infty}P(1+\frac{r}{n})^{nt} \end{gathered}[/tex]

This is similar to the general formula for Euler's number (e) which is:

[tex]e=\lim _{n\to\infty}(1+\frac{1}{n})^n[/tex]

Thus, we can re-write the Amount formula in terms of e:

[tex]\begin{gathered} \text{Amount}=\lim _{n\to\infty}P(1+\frac{r}{n})^{nt} \\ \text{This can be re-written as:} \\ \\ Amount=\lim _{n\to\infty}P(1+\frac{r}{n})^{\frac{n}{r}\times r\times t}\text{ (move P out of the limit because it is a constant)} \\ \\ \text{Amount}=P\lim _{n\to\infty}((1+\frac{r}{n})^{\frac{n}{r}})^{r\times t} \\ \\ \text{Amount}=P(\lim _{n\to\infty}(1+\frac{r}{n})^{\frac{n}{5}})^{rt} \\ \\ \text{but,} \\ e=(\lim _{n\to\infty}(1+\frac{r}{n})^{\frac{n}{r}} \\ \\ \therefore\text{Amount}=Pe^{rt} \end{gathered}[/tex]

Therefore, we can find the amount of money in the account after 10 years:

[tex]\begin{gathered} \text{Amount}=Pe^{rt} \\ P=24000 \\ r=7.25\text{ \%=}\frac{7.25}{100}=0.0725 \\ t=10\text{ years} \\ \\ \therefore\text{Amount}=24000\times e^{10\times0.0725} \\ \\ \text{Amount}=24000\times2.06473 \\ \\ \therefore\text{Amount}=49553.546\approx49553.55 \end{gathered}[/tex]

Therefore the amount after compounding continuously for 10 years is:

$49553.55


Related Questions

Trapezoid W'X'Y'Z' is the image of trapezoid W XYZ under a dilation through point C What scale factor was used in the dilation?

Answers

The scale factor is basically by what we need to multiply the original to get the dilated one.

Simple.

We can see that the original one is Trapezoid WXYZ and the dilated one is W'X'Y'Z'.

THe dilated trapezoid is definitely bigger than original. So the scale factor should be larger than 1.

One side of original is "6" and the corresponding side of dilated trapezoid is "14".

So, what we have to do to "6", to get "14"??

This is the scale factor!

To get 14, we have to multiply 6 with, suppose, "x", so:

[tex]\begin{gathered} 6x=14 \\ x=\frac{14}{6} \\ x=\frac{7}{3} \end{gathered}[/tex]

Hence, SF is 7/3

How do you solve this??

Answers

Answer:

12-3X=X-3=5

Step-by-step explanation:

Plot the point ​(3​,​3)

Answers

Step-by-step explanation:

Plot the point ​(3​,​3):

this means where x = 3 and y = 3

Answer:

i need some help list the integers in the set

Answers

Solution

The integers are the set of real numbers consisting of the natural numbers, their additive inverses and zero. {...,−5,−4,−3,−2,−1,0,1,2,3,4,5,...} The set of integers is sometimes written J or Z for short. The sum, product, and difference of any two integers is also an integer.

The whole numbers are set of real numbers that includes zero and all positive counting numbers. Whereas, excludes fractions, negative integers, fractions, and decimals. All the whole numbers are also integers, because integers include all the positive and negative numbers

The integers are real numbers

Therefore the numbers are list of integers

[tex]-8,9,\frac{0}{7},\frac{12}{4}[/tex]

Solve for x(2x+3)(3x-2)=(3x+3)(2x-2)

Answers

To solve for x, we need to apply distributive property as:

[tex]\begin{gathered} \left(2x+3\right)\left(3x-2\right)=\left(3x+3\right)\left(2x-2\right)​ \\ 2x\cdot3x+2x\cdot(-2)+3\cdot3x+3\cdot(-2)=3x\cdot2x+3x(-2)+3\cdot2x+3\cdot(-2) \\ 6x^2-4x+9x-6=6x^2-6x+6x-6 \\ 6x^2+5x-6=6x^2-6 \\ 6x^2+5x-6+6=6x^2-6+6 \\ 6x^2+5x=6x^2 \\ 6x^2+5x-6x^2=6x^2-6x^2 \\ 5x=0 \\ x=0 \end{gathered}[/tex]

Answer: x = 0

solve the quadratic equation below.3x^2-9=0

Answers

[tex]\begin{gathered} 3x^2-9=0 \\ 3x^2-9+9=0+9 \\ 3x^2=9 \\ \frac{3x^2}{3}=\frac{9}{3} \\ x^2=3 \\ x=\sqrt{3},\: x=-\sqrt{3} \end{gathered}[/tex]

Hello! I need some help with this homework question, please? The question is posted in the image below. Q6

Answers

Step 1

Given;

[tex]g(x)=3x^2-5x-2[/tex]

Required; To find the zeroes by factoring

Step 2

Find two factors that when added gives -5x and when multiplied give -6x

[tex]\begin{gathered} \text{These factors are;} \\ -6x\text{ and x} \end{gathered}[/tex][tex]\begin{gathered} -6x\times x=-6x^2 \\ -6x+x=-5x \end{gathered}[/tex]

Factoring we have and replacing -5x with -6x and x we have

[tex]\begin{gathered} 3x^2-6x+x-2=0 \\ (3x^2-6x)+(x-2)_{}=0 \\ 3x(x-2)+1(x-2)=0 \\ (3x+1)(x-2)=0 \\ 3x+1=0\text{ or x-2=0} \\ x=-\frac{1}{3},2 \\ \text{The z}eroes\text{ are, x=-}\frac{1}{3},2 \end{gathered}[/tex]

Graphically the x-intercepts are;

The x-intercepts are;-1/3,2

Hence, the answer is the zeroes and x-intercepts are the same, they are;

[tex]-\frac{1}{3},2[/tex]

I NEED CORRECT ANSWER 100 POINTS ONLY ANSWER CORRECTLY

A line passes through the points (7,9) and (10,1). What is its equation in point-slope form?

Use one of the specified points in your equation. Write your answer using integers, proper fractions, and improper fractions. Simplify all fractions.

Answers

Answer:

[tex]y-9=-\dfrac{8}{3}(x-7)[/tex]

Step-by-step explanation:

[tex]\boxed{\begin{minipage}{4.4cm}\underline{Slope Formula}\\\\Slope $(m)=\dfrac{y_2-y_1}{x_2-x_1}$\\\\where $(x_1,y_1)$ and $(x_2,y_2)$ \\are two points on the line.\\\end{minipage}}[/tex]

Define the given points:

(x₁, y₁) = (7, 9)(x₂, y₂) = (10, 1)

Substitute the defined points into the slope formula:

[tex]\implies \textsf{slope}\:(m)=\dfrac{1-9}{10-7}=-\dfrac{8}{3}[/tex]

[tex]\boxed{\begin{minipage}{5.8 cm}\underline{Point-slope form of a linear equation}\\\\$y-y_1=m(x-x_1)$\\\\where:\\ \phantom{ww}$\bullet$ $m$ is the slope. \\ \phantom{ww}$\bullet$ $(x_1,y_1)$ is a point on the line.\\\end{minipage}}[/tex]

Substitute the found slope and one of the points into the point-slope formula:

[tex]\implies y-9=-\dfrac{8}{3}(x-7)[/tex]

Suppose that 27 percent of American households still have a traditional phone landline. In a sample of thirteen households, find the probability that: (a)No families have a phone landline. (Round your answer to 4 decimal places.) (b)At least one family has a phone landline. (Round your answer to 4 decimal places.) (c)At least eight families have a phone landline.

Answers

Answer:

(a) P = 0.0167

(b) P = 0.9833

(c) P = 0.0093

Explanation:

To answer these questions, we will use the binomial distribution because we have n identical events (13 households) with a probability p of success (27% still have a traditional phone landline). So, the probability that x families has a traditional phone landline can be calculated as

[tex]\begin{gathered} P(x)=nCx\cdot p^x\cdot(1-p)^x \\ \\ \text{ Where nCx = }\frac{n!}{x!(n-x)!} \end{gathered}[/tex]

Replacing n = 13 and p = 27% = 0.27, we get:

[tex]P(x)=13Cx\cdot0.27^x\cdot(1-0.27)^x[/tex]

Part (a)

Then, the probability that no families have a phone landline can be calculated by replacing x = 0, so

[tex]P(0)=13C0\cdot0.27^0\cdot(1-0.27)^{13-0}=0.0167[/tex]

Part (b)

The probability that at least one family has a phone landline can be calculated as

[tex]\begin{gathered} P(x\ge1)=1-P(0) \\ P(x\ge1)=1-0.167 \\ P(x\ge1)=0.9833 \end{gathered}[/tex]

Part (c)

The probability that at least eight families have a phone landline can be calculated as

[tex]P(x\ge8)=P(8)+P(9)+P(10)+P(11)+P(12)+P(13)[/tex]

So, each probability is equal to

[tex]\begin{gathered} P(8)=13C8\cdot0.27^8\cdot(1-0.27)^{13-8}=0.0075 \\ P(9)=13C9\cdot0.27^9\cdot(1-0.27)^{13-9}=0.0015 \\ P(10)=13C10\cdot0.27^{10}\cdot(1-0.27)^{13-10}=0.0002 \\ P(11)=13C11\cdot0.27^{11}\cdot(1-0.27)^{13-11}=0.00002 \\ P(12)=13C12\cdot0.27^{12}\cdot(1-0.27)^{13-12}=0.000001 \\ P(13)=13C13\cdot0.27^{13}\cdot(1-0.27)^{13-13}=0.00000004 \end{gathered}[/tex]

Then, the probability is equal to

P(x≥8) = 0.0093

Therefore, the answers are

(a) P = 0.0167

(b) P = 0.9833

(c) P = 0.0093

Use compatible numbers.4,921 ÷ 63

Answers

Given:

The objective is to divide the 4921÷ 63​ using compatible numbers.

Explanation:

First, the compatible numbers are,

[tex]\begin{gathered} 4921=4920 \\ 63=60 \end{gathered}[/tex]

To calculate division:

Now, the division can be performed as,

Hence, the value of the division is 82.

Solve the following system of equations by graphing. Graph the system below and enter the solution set as an ordered pair in the form (x,y).if there are no solutions enter none and inter all if there are infinite solutions X + 2y = 3 2x + 4y =12

Answers

System of equations:

[tex]x+2y=3[/tex][tex]2x+4y=12[/tex]

To solve the system by graphing, we have to remember that the point in which both graphs meet is the solution of the system.

• Graph of both equations:

As we can see, there is no point in which both meet. Then, this system has no solution.

Answer: none

A population of values has a normal distribution with u = 203.6 and o = 35.5. You intend to draw a randomsample of size n = 16.Find the probability that a single randomly selected value is greater than 231.1.PIX > 231.1) =Find the probability that a sample of size n = 16 is randomly selected with a mean greater than 231.1.P(M > 231.1) =Enter your answers as numbers accurate to 4 decimal places. Answers obtained using exact z-scores or Z-scores rounded to 3 decimal places are accepted.

Answers

Part 1:

The probability that a single randomly selected value is greater than 231.1 equals one minus the probability that it is less or equal to 231.1:

P(x > 231.1) = 1 - P(x ≤ 231.1)

Now, to find P(x ≤ 231.1), we can transform x in its correspondent z-score, and then use a z-score table to find the probability:

x ≤ 231.1 => z ≤ (231.1 - 203.6)/35.5, because z = (x - mean)/(standard deviation)

z ≤ 0.775 (rounding to 3 decimal places)

Then we have:

P(x ≤ 231.1) = P( z ≤ 0.775)

Now, using a table, we find:

P( z ≤ 0.775) ≅ 0.7808

Then, we have:

P(x > 231.1) ≅ 1 - 0.7808 = 0.2192

Therefore, the asked probability is approximately 0.2192.

Part 2

For the next part, since we will select a sample out of other samples with size n = 16, we need to use the formula:

z = (x - mean)/(standard deviation/√n)

Now, x represents the mean of the selected sample, which we want to be greater than 231.1. Then, we have:

z = (231.1 - 203.6)/(35.5/√16) = 27.5/(35.5/4) = 3.099

P(x > 231.1) = 1 - P(x ≤ 231.1) = 1 - P(x ≤ 231.1) = 1 - P( z ≤ 3.099) = 1 - 0.9990 = 0.0010

Therefore, the asked probability is approximately 0.0010.

Sally started on the 12th floor. She walked up 4 flights. Then she went down 2 flights. Then she ran up 8 flights of stairs. a) Write an ADDITION expression b) What floor did she end up on? SHOW ALL WORK!

Answers

1) Gathering the data

Initial point 12th floor

2) She started on 12th floor and walked up 4 flights of stairs, assuming from each floor to another we have just 1 flight of stair. And we're using an addition expression, Hence, we can say:

12 +4-2+8=

16 +6

22

She ended up on the 22th floor

What is the solution to the equation below? Round your answer to two decimal places.ex = 5.9A.x = 124.50B.x = 1.77C.x = 365.04D.x = 0.77

Answers

We have the next given equation:

[tex]e^x=5.9[/tex]

Now, we can solve for x using the exponent's properties:

Add both sides ln:

[tex]\ln e^x=\ln5.9[/tex]

With the ln we can take down the exponent and simplify ln*e = 1.

Hence,

[tex]\begin{gathered} x=\ln(5.9) \\ x=1.77 \end{gathered}[/tex]

Hence, the correct answer is option B.

If the cost of a car is $6,345.00, and the tax rate is 6%, how much is the total cost of the car?

Answers

Given:

Cost of Car is $6,345

Tax rate is 6%

[tex]\begin{gathered} \text{Tax Amount=6345}\times\frac{6}{100} \\ \text{Tax Amount= \$380.70} \end{gathered}[/tex][tex]\begin{gathered} \text{Total cost of the car =6345+380.70} \\ \text{Total cost of the car = \$6725.70} \end{gathered}[/tex]

Mr. Alvarez is laying square paver blocks in sections in rows that look like steps.Section 1 has 3 rows that look like steps, the section is 6 blocks wide, and the bottom step is 8 blocks long. Section 2 has 4 rows that look like steps, the Section is 8 blocks wide, and the bottom step is 10 blocks long. Each Section after that is 2 blocks wider and 2 blocks longer.Drag the numbers to complete the table. Numbers may be used once, more than once, or not at all.

Answers

12

14

36 blocks

56 blocks

108 blocks

Explanation:

The length of section 1 = 8

The length increases by 2 uits as the section increases

Section 2 length of block = length of section 1 + 2 =

= 8 + 2

length of block = 10

Section 3 length of block = length of section 2 + 2

= 10 + 2

length of block = 12

Section 4 length of block = length of section 3 + 2

= 12 + 2

length of section = 14

Number of blocks needed:

if the blocks are counted,

For section 1 there are 6 rows . So we count the total number of blocks on each of them

= 4 + 4 + 6 + 6 + 8 + 8

Section 1 = 36 blocks

For section 2, we count the number of blocks on each row

= 4 + 4 + 6 + 6 + 8 + 8 + 10 + 10

section 2 = 56 blocks

For sectoion 3: The length and width increases by 2 respectively

previous length + 2 = 10 + 2 = 12

Due to the increase we would have two length of 12

= 4 + 4 + 6 + 6 + 8 + 8 + 10 + 10 + 12 + 12 = 80

Already given = 80

For section 4: The length and width increases by 2 respectively

previous length + 2 = 12 + 2 = 14

The increase causes an addition of two length of 14 blocks

Total blocks = 4 + 4 + 6 + 6 + 8 + 8 + 10 + 10 + 12 + 12 + 14 + 14

Total blocks for Section 4 = 108

(30 points) Solve for the missing side of the triangle. Round to the hundredths place if needed.

Answers

Answer:

[tex]6 \sqrt{6} [/tex]

Step-by-step explanation:

The square value of hypotenuse is equal to the square value of sum of the two legs:

[tex] {15}^{2} + {x}^{2} = {21}^{2} [/tex]

225 + x^2 = 441 subtract 225 from both sides

x^2 = 216 find the root of both sides

x = 6√(6)

the difference of twice h and 5 is as much as the sum of h and 4

Answers

The value of h by solving the given relationship we get, h = 9

In the above question, a word problem is given with the following relations which are as

First we'll express the given word problem statements into mathematical equation expressions

Therefore, The difference of twice of h and 5 is as much as the sum of h and 4

It can be written as in mathematical equation form as

2h - 5 = h + 4

Now, we need to find the value of h by solving the above mathematical equation formed put of the given relationship

Here,

2h - 5 = h + 4

2h - h = 5 + 4

h = 9

Hence, The value of h by solving the given relationship we get, h = 9

To learn more about, word problems here

https://brainly.com/question/2610134

#SPJ1

Choose a student in grades 9 to 12 at random and ask if he or she is studying a language other than English. Here isthe distribution of the students:

Answers

Solution:

a) 0.38

b)0.36

c)0.33

Analysis:

a)Studying a language other than English: In this case, we add all probabilities of the chart, except None (Because that is people don't study a la

i inserted a picture of the question state whether it’s a b c or d please don’t ask tons of questions yes i’m following

Answers

The possible values for any probability are between zero and one. With this in mind we conclude that A, B, C and E are allowed probabilities

URGENT!! ILL GIVE
BRAINLIEST! AND 100 POINTS!!!!!!

Jimmy ran 20 meters west
from home and then turned
north to jog 25 meters. Jimmy
ran 45 meters, but could have
arrived at the same point by in
a straight line. How many
meters could he have using a
line distance?

A. 3.5 meters
B. 7 meters
C. 32 meters
D. 45 meters

Answers

Answer:

32 meters

Step-by-step explanation:

If Jimmy ran straight from his house, the answer wouldnt be 45 because thats what he did originally when he ran a longer route from his home. 3.5 and 7 meters are too short because he ran at least 25 based off of when he turned from the West. 32 is the only reasonable answer because it would be a shorter distance than 45 meters but longer than 25 because of the route he takes in a straight line.

Answer:

here is the answer to your question

hope you get it well

There are 12 freshman 6 sophomores 12 juniors and 16 seniors. What percentage of club members are sophomores

Answers

Answer:

13% (rounded)

Step-by-step explanation:

12 + 6 + 12 + 16 = 46

46 total students

out of those 46 students, 6 are sophomores

so put that into a fraction it becomes

[tex]\frac{6}{46}[/tex]

which equals

0.130434783

which in percentage is

13.0434783%

or 13% rounded

Which of the following are rational numbers?A) 42/91B) 10.27C) 8.14 D) 0

Answers

It's important to know that a rational number can be expressed as fractions, but also when they are expressed as decimals, the decimal part repeats infinitely, that is, it has a pattern or finite decimal digits.

Having said that, we can deduct that all the answer choices are rational numbers.

Identify the property of equality that justifies the missing step to solve the given equation.Equation3x + (1 - 8) = 124r-I8 = 12StepsOriginal equationAssociative property of addition4r= 20r=5Division property of equalitya. subtraction property of equalityb. addition property of equalityc. division property of equalityd. multiplication property of equality

Answers

From the attached image;

[tex]4x-8=12[/tex]

The next step is to add 8 to both sides of the equation to remove -8.

[tex]\begin{gathered} 4x-8+8=12+8 \\ 4x=20 \end{gathered}[/tex]

Since we added to the equation.

The step is an addition property of equality

PLEASE ANSWER ASAP ! Thanks :)

Answers

The inverse function table of the function is given by the image at the end of the answer.

How to calculate the inverse function?

A function y = f(x) is composed by the following set of cartesian points:

(x,y).

In the inverse function, the input of the function represented by x and the output of the function represented by y are exchanged, meaning that the coordinate set is given by the following rule:

Thus, the points that will belong to the inverse function table are given as follows:

x = -8, f^(-1)(x) = -2, as the standard function has x = -2 and f(x) = -8.x = -4.5, f^(-1)(x) = -1, as the standard function has x = -1 and f(x) = -4.5.x = -4, f^(-1)(x) = 0, as the standard function has x = 0 and f(x) = -4.x = 0, f^(-1)(x) = 2, as the standard function has x = 2 and f(x) = 0.

More can be learned about inverse functions at https://brainly.com/question/3831584

#SPJ1

Answer:

[tex]\begin{array}{|c|c|c|c|c|}\cline{1-5} \vphantom{\dfrac12} x &-8 &-4.5 & -4&0 \\\cline{1-5} \vphantom{\dfrac12} f^{-1}(x) &-2 & -1& 0&2 \\ \cline{1-5}\end{array}[/tex]

Step-by-step explanation:

The inverse of the graph of a function is its reflection in the line y = x.

Therefore, the mapping rule to find the inverse of the given ordered pairs is:

(x, y) → (y, x)

Therefore:

The inverse of (-2, -8) is (-8, -2)The inverse of (-1, -4.5) is (-4.5, -1)The inverse of (0, -4) is (-4, 0)The inverse of (2, 0) is (0, 2)

Completed table:

[tex]\begin{array}{|c|c|c|c|c|}\cline{1-5} \vphantom{\dfrac12} x &-8 &-4.5 & -4&0 \\\cline{1-5} \vphantom{\dfrac12} f^{-1}(x) &-2 & -1& 0&2 \\ \cline{1-5}\end{array}[/tex]

Austin and carly despoit 500.00 into a savings account which earns 1% interest compounded monthly they want to use the money in the account to go on a trip in 2 years how much will they be able to spend

Answers

EXPLANATION

Let's see the facts:

Austin and Carly deposit: $500

Interest rate= 1%

Compounding period = monthly

Total number of years = 2

Given the Compounding Interest Rate formula:

[tex]\text{Compound amount = P (1+r/n)\textasciicircum{}nt}[/tex]

n is the compounding period

t is the number of years

r is te interest rate in decimal form

Replacing the given values will give us:

[tex]\text{Compound amount = 500 (1+}\frac{0.01}{12})^{12\cdot2}[/tex]

Solving the power:

[tex]\text{Compound amount = 500 }\cdot1.020192843[/tex][tex]\text{Compound amount = \$510.09}[/tex]

Answer: Austin and Carly will be able to spend $510.09.

Using the rotation R, can you create a function R(ABCD) that is equivalent to the reflection of ABCD across both the x-axis and y-axis?

Answers

The reflection over the x-axis is given by:

[tex]R(x,y)\to(-x,y)[/tex]

And the reflection over the y-axis is given by:

[tex]R(x,y)\to(x,-y)[/tex]

Thus, a function that is equivalent to the reflection of ABCD across both axis would be:

[tex]R(x,y)\to(-x,-y)[/tex]

A square paddock has an area of 7140.25m².
How long is each side?

Answers

Answer:

it's 84.5 m ...................

Hi, can you help me to solve this problem, please!!

Answers

In this problem, we have a vertical parabola open downward

that means

the vertex represents a maximum

looking at the graph

the maximum has coordinates (1,9)

therefore

the vertex is (1,9)

The baker has 305 cakes to send to the farmers market. If he can pack up to 20cakes in a crate for shipping, what is the minimum number of boxes required toship all of the cakes. Explain your reasoning.

Answers

We have 305 cakes. As we know

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