How much would you need to deposit in an account in order to have $3000 in five years assume the account earns 6% interest compounded monthly

Answers

Answer 1

There are $2224.12 need to deposit in an account in order to have $3000 in five years.

What is future value?

Future value is the worth of a financial asset or investment on a specific future date. In other words, future value is the amount of money an investment will be worth, assuming a specific rate of return, after a specific amount of time (interest rate).

Given:

Future value = FV = $3000

Number of years = t = 5

Interest rate = r = 6% = 0.06

Compounding period = n = 12

We have to find the present value form given problem.

Consider, the Future value formula,

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

Plug the values in the above formula.

[tex]3000 = PV(1+\frac{0.06}{12})^1^2^*^5\\ 3000 = PV(1+0.005)^6^0\\3000 = PV(1.005)^6^0\\PV = 2224.11658[/tex]

PV = $2224.12

Hence, there are $2224.12 need to deposit in an account in order to have $3000 in five years.

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Related Questions

What is the least common denominator of the rational expressions below?
1/x^2 - 4/3x^2+15x

Answers

Answer:

The LCD is 3x²

The other two denominators can be factors of 3x²

Step-by-step explanation:

To get the equivalent fractions, divide the original denominator into the LCD, then multiply the original numerator by the quotient.

For the first term: 1/x²

3x² ÷ x² = 3 3×1=3 The equivalent is 3/3x²

Second term: Leave it as it is.

For the third term: 15x

The implied denominator is 1

3x² ÷ 1 = 3x² 3x² × 15 = 135x²

The equivalent is 135x²/3x²

To check the validity, substitute a value for x and calculate the numbers.

For example let x = 3

The original expression becomes

1/3² + 4/3(3²) - 15(3)

1/9 + 4/27 - 45

With the LCD it is

3/27 + 4/27 - 1215/27

Answer:

3x^2(x+5)

Step-by-step explanation:

hope this helps

The equation of a line XY is (y-3)=3/2(x-4) what is the slope of the line perpendicular to XY?

Answers

Answer:

It must be 3/2.........

Answer: -2/3

Step-by-step explanation:

I wrote the equation y-3=3/2(x-4) in slope-intercept form. It's y=3/2x-5, so the slope is 3/2.

To find the perpendicular slope, I found the opposite reciprocal. The reciprocal of 3/2 is 2/3 and the opposite of 2/3 is -2/3

Write an equation for the line in slope-intercept
form.
(Use integers or fractions for any numbers in the
equation.)

Answers

Answer:

y = 3x + 5

Step-by-step explanation:

Slope-intercept form:

y = mx + b, where m is the slope, b is the  y-intercept

Take two points from the graph:

(-2, -1) and (0, 5)

Find the slope:

m = (5 - (-1))/(0 - (-2)) = 6/2 = 3

The y-intercept is b = 5

The line is:

y = 3x + 5

what is estimate the product of 19.8 and 5 by grounding each factor to nearest whole number ​

Answers

Given:

The two numbers are 19.8 and 5.

To find:

The estimated product of given numbers by rounding each factor to nearest whole number.

Solution:

Two number are 19.8 and 5.

On rounding the given numbers to the nearest whole number, we get 20 and 5.

Now, the estimated product is

[tex]20\times 5=100[/tex]

Therefore, the estimated product of given numbers is 100.

Is this a proportion? 1.44/8 = 1.7/10

Answers

Answer:

No

Step-by-step explanation:

Because the equation needs to have a variable

A random sample of 1175 people in a certain country

Answers

Answer:

c

Step-by-step explanation:

..........................

First to answer correctly gets brainliest

Answers

answer: 40x + 13900 < 28000

I don't know how to solve this problem ​

Answers

Before you read this!! To me, it looks like 8 is the entire length of lineJL, but it may only be the length of lineJM. I've written the steps for lineJL=8 NOT lineJM=8. If this is not the case and 8 is only the length of lineJM let me know so I can fix my answer!

Step-by-step explanation:

The area of a triangle is A=1/2(b)(h)

B=base

H=height

Your height is found in the line in the middle of the triangle, for you it is 6.

The base is the long bottom line on the triangle (lineJL), for you it is 8.

So let's put it in.

A=1/2(8)(6)

A=24sq units (C)

Solve for x in equation x^2-10x25=35

Answers

Answer:   b

Step-by-step explanation:

x= 5+√35 and 5-√35

A marine biologist wants to estimate the average weight of a population of dolphins living in a certain region of the ocean. The biologist will collect a random sample of dolphins and use the sample weights to create the estimate Which of the following is an appropriate method for the biologist to use for inference to the population?
A A one-sample t-interval for a population mean
B A one-sample t-interval for a sample mean
C A one-sample 2-interval for a population proportion
D A matched-pairs t-interval for a mean difference
E A two-sample t-interval for a difference between means

Answers

Answer:

A A one-sample t-interval for a population mean

Step-by-step explanation:

The biologist will collect a random sample of dolphins and use the sample weights to create the estimate.

In a confidence interval, we take the data from the sample and want to estimate it for the entire population, so the interval is for a population mean.

The standard deviation will be taken from the sample, which means that the t-interval is used.

We want for one population, so it is a one sample for the population mean, and the correct answer is given by option A.

find the area of ABC​

Answers

Answer:

area of ABC=1/2 b×h=1/2×20×6=30m²

Answer:

60 m^2

Step-by-step explanation:

( Base * Hight / 2 = Area)

20 * 6 = 120

120 / 2 = 60

Which sign makes the following statement true? 2/5 _____ 6/15

Answers

Answer:

2/5=6/15

Step-by-step explanation:

2/5

3x2=6

3x5=15

compare they are same

give me brainliest pls

The equal sign completes the give incomplete mathematical statement.

What is a mathematical function, equation and expression?            function : In mathematics, a function from a set X to a set Y assigns to each element of X exactly one element of Y. The set X is called the domain of the function and the set Y is called the codomain of the function.expression : A mathematical expression is made up of terms (constants and variables) separated by mathematical operators.equation : A mathematical equation is used to equate two expressions.

The given incomplete expression is -

2/5 _____ 6/15

The given expression is -

2/5  ____  6/15

2/5  ____ 2/5

0.4  ____ 0.4

0.4 = 0.4

Therefore, the equal sign completes the give incomplete mathematical statement.

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If the sum of two numbers is 4 and the sum of their spuares minus three times their product is 76, find the numbers

Answers

Answer:

[tex]Suppose~that~two~numbers~are~x~and~y.\\From~the~first~condition,\\x+y=4.........(1)\\or, y=4-x.......(2)\\From~the~second~condition,\\x^2+y^2-3xy=76\\or, (x+y)^2-2xy-3xy=76\\or, 4^2-5xy=76\\or, -5xy = 76-16\\or, -5xy = 60\\or, xy = -12\\From~eq^n~(2),\\x(4-x)=-12\\or, 4x-x^2=-12\\or, x^2-4x-12=0\\or, x^2 +2x-6x-12=0\\or, x(x+2)-6(x+2) = 0\\or,(x+2)(x-6) = 0\\i.e. x = -2 ~or ~6\\When~ x=-2, y=4-(-2) = 4+2 =6\\When~x=6, y=4-6 = 4-6 = -2\\So,~the~two~numbers~are~-2~and~6.[/tex]

Answer:

-2 and 6

Step-by-step explanation:

Mark the first number as x

and the second number as y

Since x + y = 4

y = 4 - x

// substitute the given value of y into the equation

[tex]x^{2} + y^{2}[/tex] - 3xy = 76

[tex]x^{2}[/tex] + [tex](4-x)^{2}[/tex] - 3 * x * (4 - x) = 76

[tex]x^{2}[/tex]  + 16 - 8x + [tex]x^{2}[/tex]  - 12x + 3[tex]x^{2}[/tex] = 76

[tex]x^{2}[/tex]  + [tex]x^{2}[/tex]  + 3[tex]x^{2}[/tex]  - 20x = 76 - 16

5[tex]x^{2}[/tex]  - 20x = 60

5[tex]x^{2}[/tex]  - 20x - 60 = 0

// divide both sides by 5

[tex]x^{2}[/tex] - 4x - 12 = 0

// write -4 x as a difference, this way it is faster than calculating discriminant

[tex]x^{2}[/tex] + 2x - 6x - 12 = 0

// factor out x and -6 from the expression

x (x +2) - 6 (x +2) = 0

(x - 6) * (x + 2) = 0

// there are two possible cases

1) x - 6 = 0

2) x + 2 = 0

1) x = -2

2) x = 6

// substitute the given value of x into the equation

1) y = 4 - x = 4 - (-2) = 6

2) y = 4 - x = 4 - 6 = -2

Now we get two pairs (-2; 6) and (6; -2), which are the solutions to the system

Since their sequence as the question suggests is irrelevant, the numbers are -2 and 6

5 - x/3 for x = -3

Evaluate the expression

Answers

The answer is 6. When x is -3 then you divide -3 by 3 and the quotient is -1. So 5-(-1) is also equal to 5+1 which equals 6

what is the difference between a quadratic function and a quadratic equation​

Answers

Answer:

The roots of a quadratic equation simply tell what values of x will make the equation true. A quadratic function is a function where the largest power for the variable is 2. ... A quadratic equation is given to you so that you can solve it for the variable. A quadratic function is given to you so that you can graph it.

• Quadratic function:
- general form: f(x) = ax² + bx + c
- vertex form: f(x) = a(x - h)² + k
- Quadratic function is given so that you can graph it.

• Quadratic equation:
- General form: ax² + bx + c = 0
- Vertex form: a(x - h)² + k
- It is given so that you can solve it for finding the variable x.


Hope it helps!

A certain financial services company uses surveys of adults age 18 and older to determine if personal financial fitness is changing over time. Suppose that in February 2012, a sample of 1,000 adults showed 410 indicating that their financial security was more than fair. In February 2010, a sample of 1,100 adults showed 385 indicating that their financial security was more than fair.

Required:
a. State the hypothesis that can be used to test for a significant difference between the population proportions for the two years?
b. What is the sample proportion indicating that their financial security was more that fair in 2012?In 2010?
c. Conduct the hypothesis test and compute the p-value.At a .05 level of significance what is your conclusion?
d. What is the 95% confidence interval estimate of the difference between the two population proportion?

Answers

Answer:

The calculated z = 2.85 falls in the critical region z > 1.96 so we accept the null hypothesis that there is no difference between the population proportions for the two years.

Step-by-step explanation:

Let p1 be the sample of 1000 adults chosen in 2012 and

p2 be the sample of 1100 adults chosen in 2010

Part a:

The hypothesis that can be used to test for a significant difference between the population proportions for the two years is:

H0: p1-p2= 0           against the claim      Ha: p1-p2≠0

Part b:

The sample proportion indicating that their financial security was more that fair in 2012 is

p1^= 410/1000= 0.41

In 2010 is:

p2^= 385/1100= 0.35

Part c:

p^c= 410+385/1000+1100= 0.3785

q^c= 1-p^c= 1-0.3785= 0.6124

The critical region is z > ±1.96

The test statistic is

z= p1^- p2^ / sqrt ( p^cq^c( 1/n1+ 1/n2)

z= 0.41-0.35 /sqrt( 0.3785*0.6124(1/1000 +1/1100)

z=  0.06 / 0.021036

z= 2.85

Conclusion

The calculated z = 2.85 falls in the critical region z > 1.96 so we accept the null hypothesis that there is no difference between the population proportions for the two years.

P- value :  0.00466

The result is significant( accept the null hypothesis) for  value less than 0.05

Part d:

                                                     2012                         2010

Sample                                       1000                           1100

Proportions                               0.41                             0.35

Standard Error               √0.41( 0.59)/1000        √0.35( 0.65)/1100

                                               = 0.0155                0.01438

Standard Error for the difference = √0.0155² + 0.01438² =0.0211

p1-p2 ± z* standard error for the difference

0.41-0.35 ± 1.96 *( 0.0211)

0.06 ± 0.041356

-0.018644,   0.101356

The 95 % confidence interval estimate is (-0.018644,   0.10135

1. X+4x+6x need help ASAP 10 minutes remaining ​

Answers

Answer:10x …….….....

Answer:

10x^2 or 10x because you are adding x

If a well is dug at -60 feet per day. How many days did it take to dig -5400 feet?

(Answer numerically ex: 30 Days answer = 30)

Answers

Answer:

90 days

Step-by-step explanation:

This one is just simple division, so you divide the goal number which is -5400 by -60 but in this situation you can just make them positives.

What is the area of a circle with a radius of 4 inches? Use 3.14 for π. Enter your answer as a decimal in the box.

enter your answer
in²

Answers

Answer:

A≈ 50.27in^2

Step-by-step explanation:

A= πr^2=

π·4^2≈ 50.26548

THE ANSWER IS: 50.24 in^2

the equation for the area of a circle is:
A = pi(r)^2

plugging in 4 for r, you get 50.24

how would i solve this?
i+i^2+i^3+i^4+i^5+i^6+i^7+i^8+i^9+i^10

please do a step by step process

Answers

Step-by-step explanation:

step 1. I assume i is imaginary

step 2. i^2 = -1, i^3 = -i, i^4 = 1, i^5 = I. . . . and so on

step 3. i - 1 - i + 1 + i - 1 - i + 1 + i - 1

step 4. the result is i - 1.

b. 3.3 x 0.8 =
3 3
х
8

Answers

Answer: the answer is 2.64 or 264

Explanation: if you multiply 3.3 × 0.8=264 but if you mulyiply 33×8=264

Find the area of the regular polygon. Round to the nearest tenth.

Answers

Given:

The figure of a regular polygon.

To find:

The area of the regular polygon.

Solution:

From the given figure it is clear that the regular polygon has 4 vertices. It means, it is a square.

Distance between the center and the vertex is 7 yd. So, the diagonal of the square is

[tex]d=7+7[/tex]

[tex]d=14[/tex] yd

We know that, area of a square is

[tex]A=\dfrac{1}{2}d^2[/tex]

Putting d=14 in the above formula, we get

[tex]A=\dfrac{1}{2}(14)^2[/tex]

[tex]A=\dfrac{1}{2}(196)[/tex]

[tex]A=98[/tex]

Therefore, the area of the regular polygon is 98 sq. yd.


One side, in inches, of a triangle is 5 more than twice a number. If this is an equilateral
triangle, what is the perimeter ?

Answers

Definition of  an equilateral triangle: A triangle with the exact same sides and angles, which is 60°

5 more than twice a number:

Let the number be x:

2x + 5

Since it is an equilateral triangle, multiply that by 3:

3(2x +5) = 6x + 15

The perimeter is (6x + 15) inches.

Find the selling price of a $30 item after a 40% markup.

Answers

$18. Multiply 30 by 0.4 and subtract that value from 30 to get the price after the percentage taken away.

12. If AC=4 and CD=4 13 in the figure below, what is cos x? B 45 45° А Xº D A. 2 13 B. 3 12 C. 2 13 D. 2 E. 1 4 C С 4-13​

Answers

Answer:

c

Step-by-step explanation:

Find AB.
MN=22
DC=29

Answers

Answer:

AB=15

Step-by-step explanation:

Since DM =MA and CN=NB, then DC || MN || AB

29-22=7

22-7=15

AB=15

Bir otobüste bulunan 45 yolcudan
Buna göre bu otobüsteki yolcuların
18'i çocuktur.
yüzde kaçı çocuktur?

Answers

Step-by-step explanation:

bence 27 cunkku yuzd sordugu icin kolaylıklar dilerim iyi günler

Select the correct option from the menu.
Raj determined that the equation 3 (x+3) = 8x - 5x +7 is equivalent to 9 = 7. This means that this equation has:

no solutions

One solution

Two solutions

Infinity many solutions

Answers

3(x+3) = 8x-5x+7

3x + 9 = 3x + 7

9 = 7

No solution option A

Math question, can you guys answer this? 25 points. ​

Answers

Answer:

5. 1/29

Step-by-step explanation:

1/. and the bottom numbers says 30-1 which is 29 soooo 1/29

An equation is shown below:

8(2x − 14) + 13 = 4x − 27

Part A: Write the steps you will use to solve the equation, and explain each step. (6 points)

Part B: What value of x makes the equation true? (4 points)

Amd please show the work.

Answers

Step-by-step explanation:

first distribute the first equation

8(2x) - 8(14) +13 = 4x -27

16x - 112 +13 = 4x -27

then combine like terms

16x - 99 = 4x -27

subtract 4x from both sides

12x - 99 = -27

add 99 to both sides

12x = 72

divide both sides 12 to isolate the x

x = 72/12 = 6

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