Faith invested \$1,100 in an account paying an interest rate of 5.1\% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 18 years?

Answers

Answer 1

Compounded Continuously:

A=Pe^{rt}

A=Pe

rt

P=1100\hspace{35px}r=0.051\hspace{35px}t=18

P=1100r=0.051t=18

Given values

A=1100e^{0.051(18)}

A=1100e

0.051(18)

Answer: 2,750

Explanation:

Plug in

A=1100e^{0.918}

A=1100e

0.918

Multiply

A=2754.70450683

A=2754.70450683

Use calculator (with e button)

A\approx 2750

A≈2750

Round to nearest ten dollars

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Answer 2

The amount of money after 18 years nearest to ten will be $2,750.

What is continuous compounding?

Theoretically, long-term average interest means that interest is continuously earned on a current account as well as reinvested into the balance to increase future interest earnings.

The equation is given as,

[tex]\rm A=P_o \times e^{r \times t}\\[/tex]

Faith invested $1,100 in an account paying an interest rate of 5.1% compounded continuously.

Then the amount after 18 years is calculated as,

[tex]\rm A = \$1,100 \times e^{0.051 \times 18}\\A = \$1,100 \times e^{0.918}[/tex]

Simplify the equation further, then we have

A = $1,100 x 2.504

A = $2,754.7

The amount of money after 18 years nearest to ten will be $2,750.

More about the continuous compounding link is given below.

https://brainly.com/question/19522540

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Related Questions

Please define the following terms:

mercantilism, import, export, enumerated article, legislature, indentured servant, Navigation Acts, Dominion of New England, English Bill of Rights.

Answers

Answer:

★ Mercantilism - loosely related policies developed by Britain so that the colonies could be used as a source of raw materials.

★ Import - when items are brought in from other countries.

★ Export - when items are sold from one country to another.

★ Enumerated Article - certain crops and items, such as sugar, tobacco, cotton, ginger, and some dyes, that could not be shipped, carried, conveyed, or transported under the Navigation Act of 1660.

★ Legislature - a group of people coming together to legitimize decisions.

★ Indentured Servant - colonists who received free passage to North America in exchange for working without pay for a certain number of years.

★ Navigation Acts - band of laws that restriced the use of foreign shipping for trade only between england and its colonies.

★ Dominion of New England - an english governing organization that united the New England colonies into a single administrative unit from 1686 to 1689.

★ English Bill Of Rights - act passed by parliament, that ensured the superiority of parliament over the monarchy.

Step-by-step explanation:

Hope you have a great day ;-)

8x + 13x

PLEAsE HLEP ME SLOVE THIS PLEASE SHOW WORK TO? THANK YOU

Answers

Answer & Step-by-step explanation:

Since they are like terms (meaning they are in the same form), you can add:

[tex]8x+13x=21x[/tex]

:Done

Enter an Integer to represent the situation.
a $535 profit

Answers

Answer:

67

Step-by-step explanation:

Took a test

What are the different ways to write multiplication in math

Answers

Answer:

Different ways to write multiplication include:

3 times 5

3x5

(3)(5)

3(5)

(3)5

etc

Step-by-step explanation:

I hope this helps!

Answer: 3 x 5, 3 · 5, 3 * 5 , (3) (5), 3 (5), and (3) 5. Hope this helps.

Step-by-step explanation:

200 people watched a movie. 55% of the people liked the movie. How many
people did not like the movie?

Answers

Answer:

115

Step-by-step explanation:

Answer:

90 people

Step-by-step explanation:

So, all you have to do is put the equation as a proportional rate. First, you should subtract 55% from 100% to get you 45%, since that's the percentage of the people who didn't like it. Now, put that percentage in a fraction, so 45/100. Next to it, put the fraction x/200, since the denominator should be the total amount of people and x for the people who didn't like the movie. To solve this, you must take the numerator from 45/100 with the denominator from x/200 and multiply it, getting you 9000. Now divide this from the denominator in the fraction 45/100, getting you to 45/100 = 90/200. So x=90.

If that was confusing, just think about it like this... 200 is a multiple of 100, right? So, to get your answer you could just multiply 45/100 by 2 on both sides getting you to 90/200 = 90/200.

Hope that helps ;D

please solve this i will give you brainliest​

Answers

Answer:

1

Step-by-step explanation:

gvgbkhbgvbhjbjhbjhbhjnnj

Plz help I am timed
What is the rule for this pattern?
7, 10, 5, 8, 3, 6, 1
A.start with 7 and add 3 repeatedly
B.start with 7 and subtract 5 repeatedly
C.start with 7 and alternate adding 3 and then
subtracting 5
D.start with 7 and alternate adding 5 and then
subtracting 3

Answers

Answer:

C

Step-by-step explanation:

Answer:

plus 3 minus 3

Step-by-step explanation:

a number plus the sum of the number
and seven.

Answers

Answer:

x+(x+7)

Step-by-step explanation:

sum=add all together

In which pair do both decimals represent rational numbers?
O A. 0.296 and 0.9888...
B. 4.462837305718274... and 0.9888
O C. 6.32891237302554... and 0.9888...
D. 6.32891237302554... and 0.296

Answers

Answer:

Step-by-step explanation:

Option A. 0.296 and 0.9888 is correct because rational no are terminating and repeating ..

Please turn the sentence into an expression

3. twelve more than the sum of ten and a
number

Answers

Answer:

Do U-Turn

Step-by-step explanation:

Step-by-step explanation:

12+(10+x)

I hope this helps

Given 2x+4y=12 what is the x and y int

Answers

both are 2! 2x2=4 4x2=8 so 8+4=12

pls answer this yall
2a-1+8b-12b+7a-12

Answers

2a+7a+8b-12b-12-1 9a-4b-13

if receiver travels 54 yards in 9 seconds whats the average speed

Answers

Answer:

Step-by-step explanation:

The average speed is 6 yards in 1 second!

GO CHEIFS!

Hope it helps

Answer:

6

Step-by-step explanation:

To find the average speed which is also the unit rate you simply need to divide the two numbers.

54 ÷ 9 = 6

So, 6 yards is your average speed.

Make me brainliest

Ise9urgyobrhrstbydfdsfwefwefsdfewfds

Answers

Yeah I think x=12y on this one correct me if I’m wrong

If ll m, find the value of each missing variable(s) .

Answers

Answer:

1. m=5

2. 2(8x+11)

3.m=7

Step-by-step explanation:

Factors of 121 what do you think ???

Answers

Step-by-step explanation:

[tex]121 = 11 \times 11[/tex]

1, 11 and 121

Mr. and Mrs. Sanchez hope to send their daughter to college in fourteen years. How much money should they invest now at an interest rate of 9.5% per year, compounded continuously, in order to be able to contribute $9500 to her education?

Answers

Answer:

Principle (P) = $2,512.56 (Approx)

Step-by-step explanation:

Given:

Interest annually (R) = 9.5% = 0.095

Amount need (A) = $9500

Time period (T) = 14 years

Find:

Principle (P)

Computation:

A = P[e^(R*T)]

9,500 = P[e^(0.095 x 14)]

9,500 = P[3.781]

P = 9,500 / 3.781

Principle (P) = $2,512.56 (Approx)

Mr. and Mrs. Sanchez need to invest $2666 for 14 years in order to be able to contribute $9500 to her education.

A compound interest is given by the formula:

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

Where A is the final amount, r is the rate, t is the period, P is the principal and n is the number of times compounded in a period.

Given that A = 9500, r = 9.5% = 0.095, t = 14, n = 1. hence:

[tex]A=P(1+\frac{r}{n} )^{nt}\\\\9500=P(1+0.095)^{14}\\\\9500=3.56P\\\\P=\$2666[/tex]

Mr. and Mrs. Sanchez need to invest $2666 for 14 years in order to be able to contribute $9500 to her education.

Find out more at: https://brainly.com/question/22803385

Is the cost of the apples proportinal to the weight of the apples?

Answers

Answer:

What is the cost/ weight of the apples?

Step-by-step explanation:

A city holds an election for mayor every 2 years and an election for treasurer every 6 years. It held elections for both mayor and treasurer this year. How many years will
it be before the elections for mayor and treasurer both happen in the same year again?

Answers

Answer:

3years

Step-by-step explanation:

Answer:

It will take for about 6 six years for the election for both positions be taken

Find the midpoint of the segment with the following endpoints.
(-3, 8) and (-8,2)

Answers

Answer:

[tex](\frac{-11}{2},5)[/tex]

General Formulas and Concepts:

Pre-Alg

Order of Operations: BPEMDAS

Alg I

Midpoint Formula: [tex](\frac{x_1+x_2}{2},\frac{y_1+y_2}{2})[/tex]

Step-by-step explanation:

Step 1: Define

Point (-3, 8)

Point (-8, 2)

Step 2: Solve for midpoint

Substitute:                    [tex](\frac{-3-8}{2},\frac{8+2}{2})[/tex]Subtract/Add:               [tex](\frac{-11}{2},\frac{10}{2})[/tex]Divide:                          [tex](\frac{-11}{2},5)[/tex]

Answer:

The answer is (-5.5, 5)

Rewrite 4x − 2y = 10 in slope-intercept form. Give the slope and y-intercept.
y =
m =
b =

Answers

Add -2y and subtract 10
2y = 4x - 10
Divide by 2
Y = 2x - 5
m= 2, b= -5

Answer:

y=2x-5

slope is 2 and y intercept is -5

Step-by-step explanation:

this is because you put y by itself and the equation becomes -2y=-4x+10. Multiply by -1 to make these positive and get 2y=4x-10. Divide both sides by 2 and make the equation y=2x-5. Hope this helps

A laboratory scale is known to have a standard deviation of Ï = 0.001 gram in repeated weighings. Scale readings in repeated weighings are Normally distributed, with mean equal to the true weight of the specimen. A particular specimen is weighed 8 times on this scale. The average weight is x ¯ = 4.1602 grams. A 99% confidence interval for the true weight of the specimen is:_______

Answers

Answer:

the confidence interval for the true weight of the specimen is;

4.1593 ≤ μ ≤ 4.1611

Step-by-step explanation:

We are given;

Standard deviation; σ = 0.001

Sample size; n = 8

Average weight; x¯ = 4.1602

We are given a 99% confidence interval and the z-value at this interval is 2.576

Formula for confidence interval is;

CI = x¯ ± (zσ/√n)

Plugging in the relevant values, we have;

CI = 4.1602 ± (2.576 × 0.001/√8)

CI = 4.1602 ± 0.000911

CI = (4.1602 - 0.000911), (4.1602 + 0.000911)

CI ≈ (4.1593, 4.1611)

Thus, the confidence interval for the true weight will be expressed as;

4.1593 ≤ μ ≤ 4.1611

Where μ represents the true weight

Solve: (3x-9) and (x + 5)

Answers

Answer:

2

Step-by-step explanation:

Got it right on my test

I need the answer
I don't need you to make it a whole paragraph

Answers

Answer:

3

Step-by-step explanation:

Answer:

3 cups

Step-by-step explanation:

27/15 = 72/a ASAP plz help

Answers

Answer:

[tex] \frac{27}{15} = \frac{72}{a} \\ \\ 27 \times a = 15 \times 72 \\ \\ a = \frac{1080}{27 } \\ \\ a = 40[/tex]

What the * stands for ?

Answers

Depends. It’s called an asterisk.
In math it’s used for multiplying.
So 5*5= 25

An angle turns through 75/360 of a circle. what is the measure of the angle?

Answers

Answer:

It is an acute angle....

The required measure of the angle through 75/360 of the circle is 75°.

What are the angle?

Orientation of the one line with respect to the horizontal or other respective line is known as a measure of orientation and this measure is known as the angle.

What is a circle?

The circle is the locus of a point whose distance from a fixed point is constant.

Since 75/360 of the circle represents the rotational factor as it describes is 75 part of 360 and 75 in the expressions is the angle measure.

Thus, the required measure of the angle through 75/360 of the circle is 75°.

Learn more about Angles here:

https://brainly.com/question/13954458

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12 cookies for 3 students rate and unit rate

Answers

Answer:

3:12 1:4

Step-by-step explanation:

Hope this helps! (^-^)

Answer: 4 cookies per student.

Step-by-step explanation:

his is a fraction equal to

12 cookies ÷ 3 students

We want a unit rate where

1 is in the denominator,

so we divide top and bottom by 3

12 cookies ÷ 3

3 students ÷ 3

=

4 cookies

1 student

=

4 cookies

student

= 4 cookies per student

Please Note: IMAGE BELOW IS NOT DRAWN TO SCALE!
Given: Point E is the midpoint of AC and DF
Prove: ADEA AFEC
C
F
А
B
B

Answers

Answer:

more imformation?

Step-by-step explanation:

Set up a proportion and solve. Round answers to the nearest tenth.

What is 20% of 72?

Answers

14.4 I hope this helped you :)
It would be 14.4 (it’s already a tenth so no rounding) be if it needs to be rounded to nearest whole number, it would be just 14 :)!! Hope this helps!! Pls mark as brainliest!! Have a great night!!
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