David’s bank offers a 36-month Certificate of Deposit (CD) with an APR of 2.25%. Use the compound interest formula to answer the following: a) If P = 2000, what is A(8)? b) Solve the equation A(t) = 4000 for t. c) What principal P should be invested so that the account balance is $2000 in three years?

Answers

Answer 1

Using compound interest, it is found that:

a) A(8) = 2389.66

b) t = 31.15

c) P = 1870.85

Compound interest:

[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:

The APR is of 2.25%, hence [tex]r = 0.0225[/tex].No information about the number of compounding per year, hence [tex]n = 1[/tex].

Item a:

[tex]P = 2000[/tex], hence:

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

[tex]A(8) = 2000\left(1 + \frac{0.0225}{1}\right)^{8}[/tex]

[tex]A(8) = 2389.66[/tex]

Item b:

[tex]A(t) = 4000[/tex], hence:

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

[tex]4000 = 2000\left(1 + \frac{0.0225}{1}\right)^{t}[/tex]

[tex](1.0225)^t = 2[/tex]

[tex]\log{(1.0225)^t} = \log{2}[/tex]

[tex]t\log{1.0225} = \log{2}[/tex]

[tex]t = \frac{\log{2}}{\log{1.0225}}[/tex]

[tex]t = 31.15[/tex]

Item c:

[tex]A(3) = 2000[/tex], hence:

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

[tex]2000 = P\left(1 + \frac{0.0225}{1}\right)^{3}[/tex]

[tex]P = \frac{2000}{(1.0225)^3}[/tex]

[tex]P = 1870.85[/tex]

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Related Questions

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-Х2
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if you typed in -x2-x2 it would be -x4

An airplane flies with a constant speed of 768 km/h. How far can it travel in 50 minutes

Answers

Answer:840 km/h divided by 60 = 14km/min

3 x 60 = 180

180 + 20 = 200 minutes total

14 x 200 = 2800km

that is a really awkward way of doing it though. really you can just do:

840 x (10/3) = 2800km

Step-by-step explanation:

You have a coupon for 25% off the price of a mystery book that sells for $7.00. You also have one for 20% off the price of a science fiction book that sells for $6.25. You have $5.00. Which book can you afford to buy? Explain.​

Answers

Answer:  you can afford to buy both

as $1.75+$1.25 adds up to $3 leaving you $2 to spare.

Step-by-step explanation-

Mystery book: 25% of 7.00= 1.75 ($1.75)

Science Fiction: 20% of  6.25=1.25 ($1.25)

Answer:

You can afford the science fiction book.

Step-by-step explanation:

How to get the amount for the 25% coupon:

$7.00 × 0.25 = $1.75

To get the price of the mystery book using the coupon:

$7.00 - $1.75 = $5.25

The mystery book will cost $5.25.

How to get the price of the 20% coupon:

$6.25 × 0.20 = $1.25

To get the price of the science fiction book using the coupon:

$6.25 - 1.25 = $5.00

The science fiction book will cost $5.00.

You can afford to buy the science fiction book because you have $5.00 and that is the price of the book.  The mystery book costs $5.25 and you only have $5, which means that you don't have enough money to buy it.

For the equation y = -x +5, find y when x = -3

Answers

Answer:

y= 8

Step-by-step explanation:

y= -x +5

To find the value of y when x= -3, substitute -3 into x and solve the equation.

When x= -3,

y= -(-3) +5

y= 3 +5

y= 8

When you divide fraction how do you find quotient.

Answers

Answer:

To divide two fractions, you must make one fraction the reciprocal. Then, multiply both numerators and both denominators.

EXAMPLE:

3/4 x 4/5

Take reciprocal for 4/5

3/4 x 5/4

Multiply numerators

3x5=15

Multiply denominators

4x4=16

ANSWER:

15/16

You need to cut a 16 foot long 2x4 into 3.5ft sections. How many ehole sections will you have

Answers

You would have to use a calculator this isn’t easy good luck 568

Where do we use order of operations in real life.

Answers

Answer:

In math, order of operations helps you find the correct value for an expression. Order of operations matters in daily life.

Step-by-step explanation:

For example

Engineering

Cooking

Chemistry

Are some explanations of where you may need this skill in real life.

Answer the following problem using the SOLVE Method Math Club members are selling Math club members are selling Pi Day T-shirts for $7.50 each. The goal is to raise $500 by Friday. The figure below shows how much they have raised by Wednesday. What is the minimum number of T-shirts they must still sell in order to reach their goal? Explain your reasoning.

Answers

The minimum number of T-shirt that they must sell to raise $500 is 67 T-shirts

Let x represent the number of Pi Day T-shirts sold.

They are selling Pi Day T-shirts for $7.50 each, So to raise $500:

7.5x > 500

Dividing through by 7.5:

7.5x / 7.5 > 500 / 7.5

x > 66.7

Hence, the minimum number of T-shirt that they must sell to raise $500 is 67 T-shirts

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I’m not good at stuff like this but I would give my life if someone can help me please

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Answer:

I want so much to help u, but I can't right now. I will come back tomorrow and answer it.



Which describes how to move from (2, 3) to (6,4) on a coordinate grid?


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Step-by-step explanation:

x = +4

y = +1

it uses a rigid transition formation

What is the answer to number 4 ?

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Answer:

C

Step-by-step explanation:

Answer:

c

Step-by-step explanation:

What is the distance between −93 and 114 on a number line?

Answers

Answer:

207

Step-by-step explanation:

By counting the amount of numbers to get from -93 to 114, you count a total of 207. This means it takes 207 steps to get from -93 to 114.

When finding the distance between negative and positive numbers you can also add the numbers together to get the total distance between the numbers.

Answer: what ever u said on the answer to one of my questions got deleted lol

Step-by-step explanation:

PLEASR HELP MEEEE ASAP​

Answers

Answer:

A: Yes, I agree. Why? Because if you look at the shape, its a triangle right, and a triangle both sides are equal, while the bottom line is not. But because both sides are equal, and half of the triangle is MPN and the other side is QPN, they both are congruent (or equal to)

B: Like I said, both MPN and QPN are both equal, and if you remove the P, it would still be the same because the shape has not changed.

I hope I helped :)

13 9/10 divided by 3 1/2

Answers

Answer:

[tex]3 \frac{13}{44} [/tex]

Step-by-step explanation:

First let's write our equation

[tex]13 \frac{9}{10} \div 3 \frac{1}{2} [/tex]

Now let's make them improper fractions

[tex] \frac{139}{10} \div \frac{7}{2} [/tex]

Now since we're dividing we with fractions we do the reciprocal and multiply

[tex] \frac{139}{10} \times \frac{2}{7} [/tex]

or

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I need help pls I'll give brainliest!!!!!!!!!!!!!!!!!!!!!!

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Answer:

[tex]\sqrt{32}[/tex]

Step-by-step explanation:

4^2+ 4^2=c

16+16=32

[tex]\sqrt{32}[/tex]

=5.65685424949

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Answers

The answer is 83 because n=1 so 80+2=82+1=83

Roxana makes bracelets and necklaces and sells them at the farmers’ market. She sells the bracelets for $12 each and the necklaces for $18 each. At the market next weekend she will have room to display no more than 40 pieces, and she needs to sell at least $500 worth in order to earn a profit. (Thank you so much for anyone who answers it

Answers

Answer:

She could out 20 necklaces and 20 bracelets on display and she would make $600.

Step-by-step explanation:

$18 necklaces x 20= $360

$12 bracelets x 20 = $240

totalling $600

Lauren is going to invest in an account paying an interest rate of 3.4% compounded
annually. How much would Lauren need to invest, to the nearest cent, for the value of
the account to reach $13,000 in 8 years?

Answers

Answer:

P = $9948.99

Step-by-step explanation:

Use the compound amount formula A = P(1 + r)^t, with A = $13,000, t = 8 yr and r = 0.034.  Find the principal amount P.

Solving A = P(1 + r)^t for P, we get:

         $13,000           $13,000

P = -------------------- = --------------- = $9948.99

      (1 + 0.034)^8         1.3067

Lauren needs to invest $9948.99 for this purpose.

Follow the steps to finish solving the equation -3x +18 = 7x

1. Add 3x to both sides to isolate the variable term.

2. Divide both sides by 10.

x=

Answers

Answer:

x = 9/5 or 1.8

Step-by-step explanation:

Answer: Or 9/5 Have a great day :)

Step-by-step explanation:

-3x+18= 7x

18+= 10x

x= 18/10

x= 9/5

4 1/4-2 3/5 what is this

Answers

Answer: 1.9, 1 1/9 or 19/10

Determine if the table represents a linear function, quadratic function, or exponential function.

Answers

Answer:

quadratic

Step-by-step explanation:

A painter charges $15.80 per hour, plus an additional amount for the supplies. If he made $190.89 on a job where he worked 7 hours, how much did the supplies cost?
A.
$110.60
B.
$80.29
C.
$90.29
D.
$27.27

Answers

Answer:

B

Step-by-step explanation:

First find out how much he made without the supplies. To do this you would multiply $15.80 by the 7 hours he worked. This gives you 110.60. Then subtract 110.60 from the 190.89 the job cost. You would then overall get 80.29 for the supplies

ILL GIVE YOU BRANLIEST IF YOU ANSWER!!!

Answers

Answer:

25×4 + 10×5

He can but 4 reserved seats and 5 general seats.

Step-by-step explanation:

25×4 is 100

10×5 is 50

100+50 is 150 dollars.

y = - 4x + 3 & x - 4y = 8 : parallel or perpendicular or neither​

Answers

Answer:

perpendicular

Step-by-step explanation:

Parallel lines have equal slopes

The product of the slopes of perpendicular lines = - 1

The equation of a line in slope- intercept form is

y = mx + c ( m is the slope and c the y- intercept )

y = - 4x + 3 ← is in slope- intercept form

with slope m = - 4

x - 4y =  8 ( subtract x from both sides )

- 4y = - x + 8 ( divide through by - 4 )

y = [tex]\frac{1}{4}[/tex] x + 2 ← in slope- intercept form

with slope m = [tex]\frac{1}{4}[/tex]

Since the slopes are not equal the lines are not parallel

- 4 × [tex]\frac{1}{4}[/tex] = - 1

Then the lines are perpendicular

3) Which table shows y as DIRECTLY PROPORTIONAL to x?
Α)Α
B) B.
C C
D) D

Answers

Answer:

I think the answer will be A

How do you write 17/5 as an mixed number

Answers

Answer:

3 2/5

Step-by-step explanation:

17/5= 3 2/5

Answer:

First find the nearest number divisible by 5 to get a whole number returned

that number is 15

15/5 = 3 (no decimals)

so the ‘big’ (as I like to call it) number or the integer that isn’t part of the fraction would be 3.

now what is left?

subtract 15 from the numerator

17 - 15 = 2

replace 17 with 2 in the fraction to get 2/5

The result is [tex]3\frac{2}{5}[/tex]

to prove this is the same

multiply the ‘big number’ by the denominator

3*5 = 15

and add the numerator

15+2 = 17

now just insert the denominator below it, and you get 17/5

Which is the graph of the equation y+2=−12(x−4)?

Answers

Answer:

Step-by-step explanation:

y+2 = -12(x-4)

y=-12x+48-2

y = -12x+46

Draw a graph with the points (1,34) and (3,10)

(3^-2 × 4^-2)^-3 = 12^x
In the given expression find the value of x.​

Answers

Given that (3^-2×4^-2)^-3 = 12^x

⇛ [(3×4)^-2]^-3 = 12^x

Since a^m × b^m = (ab)^m

⇛(12^-2)^-3 = 12^x

⇛ 12^(-2×-3) = 12^x

Since (a^m)^n = a^mn

⇛ 12^6= 12^x

⇛6 = x

Since the bases are equal then exponents must be equal

Therefore,x = 6

Additional comment:-

If the bases are equal then exponents must be equal.

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Find the angle measure.

The measure of the angle is ?

Answers

Answer:

133°

Step-by-step explanation:

The angle X is the same as the given.

TRANSVERSAL LINE

[tex]\mathbb{ANSWER:}[/tex]

⇒ The two parallel lines are cut by a transversal so the interior angles on the same side of a transversal are congruent. This means that the measurement of the second angle is also 133 degrees.

Hence, the measurement of the angle is also 133 degrees.

PLS HELP WILL MARK BRAINLIEST!

Answers

Answer:

I'd say the answer is cube of a binomial, because when something is specifically raised to the 3rd power, that number is being cubed. (When you square a number it has an exponent of 2, whereas when you cube a number it has an exponent of 3.)

Step-by-step explanation:

Hope this helps :)

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