Elizabeth invested $970 in an account paying an interest rate of 6\tfrac{5}{8}6 8 5 ​ % compounded daily. Matthew invested $970 in an account paying an interest rate of 6\tfrac{3}{4}6 4 3 ​ % compounded continuously. After 8 years, how much more money would Matthew have in his account than Elizabeth, to the nearest dollar?

Answers

Answer 1

Using continuous compounding and compound interest, it is found that Matthew would have $17 more than Elizabeth in his account.

Compound interest:

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

Continuous compounding:

[tex]A(t) = Pe^{rt}[/tex]

The parameters are:

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.

For both of them:

Investment of $970, hence [tex]P = 970[/tex]

Invested for 8 years, hence [tex]t = 8[/tex]

Elizabeth:

Compounded daily, hence [tex]n = 365[/tex].

Rate, as a percent, of [tex]6\frac{5}{8} = 6 + \frac{5}{8} = 6.625[/tex], hence [tex]r = 0.06625[/tex].

Then:

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

[tex]A(8) = 970\left(1 + \frac{0.06625}{365}\right)^{365(8)}[/tex]

[tex]A(8) = 1648[/tex]

Matthew:

Rate, as a percent, of [tex]6\frac{3}{4} = 6 + \frac{3}{4} = 6.75[/tex], hence [tex]r = 0.0675[/tex].

Then:

[tex]A(t) = Pe^{rt}[/tex]

[tex]A(8) = 970e^{0.0675(8)}[/tex]

[tex]A(8) = 1665[/tex]

The difference is:

1665 - 1648 = 17

Hence, Matthew would have $17 more than Elizabeth in his account.

A similar problem is given at https://brainly.com/question/24507395


Related Questions

Can someone help please no links

Answers

Answer:

-4 or 4 I would have to go with-4!!

Step-by-step explanation:

I hope this helps in any way!!

pls help asap MIDSEGMENTS

Answers

Answer:

Angle 5=60°

Step-by-step explanation:

Angle 4 = 180°-116° (adj angles on a str line)

= 64°

Angle 5 = 180°-64°-56° (angle sum of triangle)

= 60°

Answer:

<5 = 60 degrees

Step-by-step explanation:

<4 = 180-116 = 64 degrees

64 + 56 + <5 = 180 degrees

<5 = 180-56-64

5. Do you find similarities between the rules of adding & subtracting dissimilar fractions and
adding & subtracting dissimilar rational algebraic expressions?​

Answers

Answer:

First, we will change dissimilar fractions into similar fractions by finding the least common denominator. Second, add them like similar fractions. And then finally, convert the answer in the lowest term. Example No.6 Subtract 3/4 from 4/5. What will be our least common denominator? The least common multiple of 5 and 4 is 20. That was an Example

Step-by-step explanation:

here is a screenshot please help 15 points

Answers

Length is 2 cm and angle is 135

Hi, How do I do this?

Answers

Answer:

3and3 4and 2 5and1

Step-by-step explanation:

3 is the coordinate of 3 4is the coordinate of 3 5is the coordinate of 1

There are 199 green marbles and 199 red marbles in a bag. How many marbles must be chosen to be certain we have the following. Four red or three green?

Answers

Answer:

203 for four red and 202 for three green.

Step-by-step explanation:

Consider the worst possible choice. If you want four red then imagine the worst possible case. That'd be picking all 199 marbles before any red, and after you pick all 199 green marbles you still need four red, and 199+4=203. For green, do the same thing and you get 199+3=202

There are 203 for four red and 202 for three green.

Given that,

There are 199 green marbles and 199 red marbles in a bag.

Based on the above information, the calculation is as follows:

Since there is 4 red or three green.

So,

We can solve like

= 199 + 3

= 202

And,

= 199 + 4

= 203

Therefore we can conclude that there are 203 for four red and 202 for three green.

Learn more: brainly.com/question/16115373

What is four thirds -2/5

Answers

Answer:

14/15

Step-by-step explanation:

You need to find the Least Common Multiple for the denominator to add. LCM of 3 and 5 would be 15. You multiply 5 to 3 to get 15 and 3 to 5 to get 15. You would multiply the numerators by the same number. 4x5=20 and 2x3=6. 20/15-6/15=14/15

An operation is defined as p*q=-5q+p2 evaluate. 2*(7*3)

Answers

Answer:

- 166

Step-by-step explanation:

First step is to evaluate 7*3

7*3 ( with p = 7 and q = 3 )

= - 5(3) + 7²

= - 15 + 49

= 34

Now evaluate

2*34 ( with p = 2 and q = 34 )

= - 5(34) + 2²

= - 170 + 4

= - 166

Solve the problem.
Determine the resultant effect of three people pulling on a car as shown in the drawing
a = 75.0 lb, b = 77.0 lb, c = 52.0 lb, d = 32°, e = 22°

Answers

So we know that the answer is 5.1 because the 77.0 you could add and get 22

How would I go from 22 to 11 in my table?


Divide by 2.


Multiply by 2.


Multiply by 22.


Divide by 22.
WILL MARK BRAINLY

Answers

Answer: divide 2

Step-by-step explanation:

[tex]\sqrt{54} \times \sqrt{54}[/tex]

Answers

Answer:

 19.9202745546

Step-by-step explanation:

54 will be your answer...

I need answers for number 1.

Answers

Answer:

11^9

Step-by-step explanation:

BRAINLIEST
Solve for X. Round to the nearest tenth.

Answers

Answer:

Question=Q

Q8=60.1

Q9=

help me with this problem

Answers

Answer:

ñññññññññ

Step-by-step explanation:

11/9/2001

Chloe was given a box of assorted chocolates for her birthday. Each night, Chloe treated herself to some chocolates. There were originally 30 chocolates in the box and after 2 nights, there were 24 chocolates remaining in the box. Write an equation for C,C, in terms of t,t, representing the number of chocolates remaining in the box tt days after Chloe's birthday.

Answers

Answer:

3 chocolates each night

Step-by-step explanation:

C-3

t-1

Evaluate 62 - (12 – 2) when I = 3.
-
O A. 4
O B. O
O C. 3
O D. 12
Pls help guys !

Answers

Answer:

A. 4

Step-by-step explanation:

12 - 3 is 9

6^2 is 36

36/9 is 4

It’s 4 just trust me


Three numbers are in the ratio 3.5 7. If the largest number is multiplied by 3, the result is 26 more than the sum of the first and second numbers. Use an algebraic
solution to find the numbers

Answers

Answer:

6,10,14

Step-by-step explanation:

Find the highest common factor and lowest common factor of 78 and 130

Shown method would be great thankss :))

Answers

Answer:

The GCF is 26 and the least common factor is 390

Step-by-step explanation:

The GCF is 26 because 2, LCF is 390 because 78x5 equal 390 and 130x3=390.

Find the measure of each angle indicated.
Please show your work

Answers

its 77 because they are the exact same angle, there’s really no equation to be shown but u can find the total angle by adding 77 + 77 !

Carey and Patrick both borrowed money from Melinda. Carey owes Melinda $25.00. Patrick owes Melinda 3/4 the amount that Carey owes. How much does Patrick owe Melinda?

Answers

Answer:

$18.75

Step-by-step explanation:

multiply 25 * 3/4 ( 0.75) and you get 18.75



12. The number of miles, y, traveled varies directly as time, x. If a group of tubers floating down the river traveled 9 miles

in two hours, how far would they travel in 5 hours? Write and solve a direct variation equation for this situation

y= 9/2x; x=10/9

y=2/9x; x=22.5

y=2/9x; y=10/9

Oy=9/2; y=22.5

Answers

Answer: y=2/9x; x=22.5

Step-by-step explanation:

Float speed is 9 miles/2 hours, or (9/2) miles/hour (mph).

Distance,y = (Speed)*(Time, x)

y = (Speed)x

y = (9/2)x

If x = 5 hours,

y = (9/2)*5, or 22.5

y=2/9x; x=22.5

the table shows the price x (in dollars) of a product at several different stores and the profits y (in dollars) generated by seeing the product. use a graphic calculator to write a function that models the data. Round each value in your function to the nearest hundredth. The equation is y=___​

Answers

Regression equations are used to represent the relationship between the x and y variables.

The regression equation is [tex]\mathbf{y =-0.39X +467.84}[/tex]

Using a graphing calculator, we have the following parameters

Sum of x: [tex]\mathbf{\sum x = 269}[/tex]Sum of y: [tex]\mathbf{\sum y = 3170}[/tex]Mean of x: [tex]\mathbf{\bar x = 38.4286}[/tex]Mean of y: [tex]\mathbf{\bar y = 452.8571}[/tex]Sum of squares: [tex]\mathbf{SS_x = 1679.7143}[/tex]Sum of products: [tex]\mathbf{SP = -648.5714}[/tex]

The regression equation is represented as:

[tex]\mathbf{y =bX +a}[/tex]

Where:

[tex]\mathbf{b = \frac{SP}{SS_x}}[/tex] and [tex]\mathbf{a = \bar y-b \times \bar x}[/tex]

So, we have:

[tex]\mathbf{b = \frac{-648.5714}{1679.7143}}[/tex]

[tex]\mathbf{b = -0.39}[/tex]

Also, we have:

[tex]\mathbf{a = \bar y-b \times \bar x}[/tex]

This gives:

[tex]\mathbf{a = 452.8571 - (-0.39 \times 38.4286) }[/tex]

[tex]\mathbf{a = 467.84}[/tex]

Substitute values for (b) and (a) in [tex]\mathbf{y =bX +a}[/tex]

[tex]\mathbf{y =-0.39X +467.84}[/tex]

Hence, the regression equation is [tex]\mathbf{y =-0.39X +467.84}[/tex]

See attachment for the scatter plot

Read more about regression equations at:

https://brainly.com/question/7656407

X-5/-2=x-1/-3 help pls

Answers

Answer:

0=-13/6

Step-by-step explanation:

Answer:

x= -15/8

0r

x= -1.875

or

x= -1 7/8

they are all correct

Step-by-step explanation

may someone please help me solve the inequality
-4 (x - 2) + 5 < 9

Answers

Answer:

[tex]\huge\boxed{x > 1}[/tex]

Step-by-step explanation:

-4(x - 2) + 5 < 9

Subtract 5.

-4(x - 2) < 4

Divide by -4 (Flip the sign when dividing by a negative number).

x - 2 > -1

Add 2.

x > 1

Hope it helps :) and let me know if you want me to elaborate.

Answer:

x>1

Step-by-step explanation:

I had that same question hope that helped

help me pls with my geometry

Answers

Answer:

answer in pic above

Step-by-step explanation:

did this over thrice before coming to the right answer lol

i hope it helps you xxx

What is the measure of _____?​

Answers

Answer:

112°

Step-by-step explanation:

3x+22+2x+8=180

5x+30=180

5x=150

x=30

3x+22

3(30)+22

90+22

112

Which relation is a function?]
NO LINKS

Answers

Answer:

first one

Step-by-step explanation:

use the vertical line test, and the first one is a quadratic function

Answer:

The first one.

Step-by-step explanation:

By using the vertical line test, you can see that the first one is the only relation that's input's go to only one output.

Make b the subject of P = 1/2 a b² + c where b is positive. (3 marks)

Answers

That’s the answer to the question

A bag holds 12 red marbles, 11 green marbles, 17 blue marbles, and 5 yellow marbles. What is the probability that you will NOT choose a blue
marble?

Answers

Answer:

No of sample space , n(s) = 12 + 11 + 17 + 5 = 45

No of favorable cases , n(e) = 17

Probability of getting blue marble ,

P(e) = n(e)/n(s)

       = 17 / 45

NOW

Probability of not getting blue marble,

P'(e) = 1 - p(e)

      = 1 - 17 / 45

     = ( 45 - 17)/45

    = 28 / 45

Hope it helped :)

Step-by-step explanation:

TRUE OR FALSE , When you divide the numerator of a fraction by the denominator you always get a terminating decimal?

Answers

Answer: false.

Step-by-step explanation:

it's only a terminating decimal if you end up with a remainder of 0.

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