Anthony invested $36,000 in an account paying an interest rate of 5.3% compounded
quarterly. Assuming no deposits or withdrawals are made, how long would it take, to
the nearest year, for the value of the account to reach $51,800?

Answers

Answer 1

Answer:

3.8 months

Step-by-step explanation:

Question: Anthony invested $36,000 in an account paying an interest rate of 5.3% compounded

quarterly. Assuming no deposits or withdrawals are made, how long would it take, to

the nearest year, for the value of the account to reach $51,800?

First step! What is 5.3% of 36k?

1,908

Second Step! Divide

51,800/1,908= 27.1488469602

Third Step! Round

27.1488469602= 27.1

27.1 weeks.

7 weeks in a month.

12 months in a year.

27.1/7= 3.8

3.8 months

Answer 2

The number of years for the amount of compound interest to reach $51,800 is given by b = 7 years

What is Compound Interest?

Compound interest is interest based on the initial principle plus all prior periods' accumulated interest. The power of compound interest is the ability to generate "interest on interest." Interest can be added at any time, from continuously to daily to annually.

The formula for calculating Compound Interest is

A = P ( 1 + r/n )ⁿᵇ

where A = Final Amount

P = Principal

r = rate of interest

n = number of times interest is applied

b = number of time periods elapsed

Given data ,

Let the number years be represented as b

where the amount after b years is = $ 51,800

The initial principal amount P = $ 36,000

The number of times the compound interest is applied = quarterly = 4

Now , the equation is

A = P ( 1 + r/n )ⁿᵇ

On solving for the number of years b , we get

b = ln ( A / P ) / n [ ln ( 1 + r/n ) ]

b = ln ( 51,800.00 / 36,000.00 ) / ( 4 × [ ln ( 1 + 0.053/4 ) ] )

On further simplification , we get

b = ln ( 51,800.00 / 36,000.00 ) / ( 4 × [ ln (1 + 0.01325 ) ] )

b = 6.911 years

On rounding to the nearest year , we get

b = 7 years

Therefore , the value of b is 7 years

Hence , the number of years is 7 years

To learn more about compound interest click :

https://brainly.com/question/21270833

#SPJ2


Related Questions

Find the volume: 7cm 16 cm 8 cm​

Answers

Answer: Greetings my dude. The volume of the triangular prism is around 1,138 Centimeters Cubed.

Hope this helps!

Answer:

volume = length * breadth * height

= 16*7*8

=896

Don Pedro tenía una parcela de 10 hectareas, vendió la quinta parte y el resto lo dividió entre sus 4 hijos, cuantas hectareas recibió cada uno?

Answers

what do i need for u supposed to help them

I need help due in a Hour

Answers

Answer:

2.6

Step-by-step explanation:

If we give the cashier a $20 bill for a shirt that costs $22.95, how much more do we owe the cashier?

Answers

Answer:

$2.95

Step-by-step explanation:

$22.95-$20

we owe the cashier $2.95

explanation:
20 - 22.95 = -2.95

A cube has a side length of 4 feet. What is the volume of the cube?
48 ft3
64 ft3
96 ft3
12 ft3

Answers

Answer:

64 square ft^3

Step-by-step explanation:

If the side lengh is 3 then you would have 4^3 which is 64.

Answer:

64

Step-by-step explanation:

find the value of x plz

Answers

It is(A) 116
As you look closely at the diagram the angle outside the angle and x are exterior angles and exterior angles are equal
It will be 61 trust me men 100%not 116

Fifteen pencils are sold for $750. what is the cost for 1 pencil ?​

Answers

One pencils cost $50
Because you to do 750/15 to get you X

Answer:

50$

Step-by-step explanation:

750/15=50

(do u mean 7.50 cuz if u did its 0.50 cents)

solve this equation -3/4x + 6 > -3=

Answers

Answer:

[tex]x\leq 0 or x \geq \frac{1}{12}[/tex]

How many minutes would it take a drone to travel 100 km at a speed of 40 km/min?

Answers

Answer:

Divide

Step-by-step explanation:

If you divide them then you get 2.5

Answer:

Kilometers per hour is often used for car speeds. One hour at this speed moves you 100 km

Step-by-step explanation:

i have a headache sorry if wrong

The length of a picture frame is inches more than the width. For what values of x is the perimeter of the picture frame greater than ​inches?

Answers

9514 1404 393

Answer:

  x > 35

Step-by-step explanation:

The perimeter is twice the sum of length and width. You want x such that ...

  P > 156

  2(x +(x+8)) > 156

  4x +16 > 156 . . . . . simplify

  x +4 > 39 . . . . . . . . divide by 4

  x > 35 . . . . . . . . . . . subtract 4

The perimeter of the frame will be greater than 156 inches for x > 35.

FFFFFRrrRRreeeeeeeee PPPPOOOOOIIIINNNNTTTTTSSSSSS

Answers

Ahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

Answer:

OMG! Thank you mate..... :D

help me solve this problem please and explain if u can

Answers

is this flvs

Step-by-step explanation:

Quick help please!!!

Answers

Answer:

D

Step-by-step explanation:

this isnt highschool, u are dum

What is the range of the function fx) = -2(6x) + 3?
(-∞,-2]
(-∞,3)
[-2,∞)
[3,∞)

Answers

the second one - (-infinity,3)

find the measure of angle STP

Answers

x=7
Step-by-step explanation:
∠STP=∠SWT+∠TSW(exterrior ∠ of Δ)
15x=7x+1+7x+6
x=7


Help I will be marking brainliest!!!

A. 22
B. 44√2
C. 22√2
D. 44

Show work, if possible. Thanks❤️

Answers

Answer:

I'm doing some of these questions now in my math class. I think it's D) 44 sorry if I'm wrong tho

Answer:

Step-by-step explanation:

Since the hypotenuse is 44 and the two sides are equal to FT we can say

2(FT)^2=44^2

FT^2=968

FT=22(2^(1/2))

So C is the correct answer.

What's 64/4 in the simplest form

Answers

Answer:

16

Step-by-step explanation:

64 divided by 4 is equal to 16.

64 can be divided by 4 perfectly, so 16

4x + (-3) = -11
What is my answer can You please help me

Answers

Answer:

-2

Step-by-step explanation:

Let's solve your equation step-by-step

4x−3=−11

Step 1: Add 3 to both sides

4x−3+3=−11+3

4x=−8

Step 2: Divide both sides by 4

4x

4

=

−8

4

x=−2

Answer:

[tex]4x + ( - 3) = - 11 \\ 4x (- 3) = - 11 \\ 4x = - 11 + 3 \\ 4x = - 8 \\ x = \frac{ - 8}{4} \\ x = - 2[/tex]

Solve

b/5 - 37 < -44

Answers

Answer:

Step-by-step explanation

B<-35

need help asap will give brainly

Answers

Answer:

x = 60

Step-by-step explanation:

So, ever triangle, no matter what shape or size, is always going to equal 180 degrees. You start off by trying to find angle L which is 71. The way you find this is you subratch 109 from 180 which ultimately gives you 71.

180 - 109 = 71

After that you have to add what you already have (49 degrees) with what you just found (71 degrees)

49 + 71 = 120

Now that you have 120, you have to again subtract 180 by 120 to get your answer, 60 degrees. And that's it.

180 - 120 = 60

A recipe for cookies calls for
cups of chocolate chips for every 3 dozen cookies made. How many cups of chocolate chips would be needed for 7 dozen cookies?

A.

B.

C.

D.

Answers

The answer is B.) you will need 3 cups of chocolate chips

For 7 dozens cookies 3 1/2 cups needed.

What is unitary method?

The unitary method is a technique for solving a problem by first finding the value of a single unit, and then finding the necessary value by multiplying the single unit value.

Given:

For 3 dozen cookies = 1 1/2 cups = 3/2 cups

For 1 dozen cookies = 3/2 * 1/3 = 1/2 cups needed

So, for 7 dozen cookies = 1/2 * 7

                                       = 3 1/2 cups needed

Hence, for 7 dozens cookies 3 1/2 cups needed.

Learn more about unitary method here:

https://brainly.com/question/22056199

#SPJ2

2. Find the measure of x.​

Answers

Answer:

x = 69 degrees

Step-by-step explanation:

180 - 146 = 34

180 - 77 - 34 = 69

x = 69 degrees

Pls help ASAP in a call with only my teacher

Answers

Answer:

a

Step-by-step explanation:

the answer is a. 6 faces 12 edges and 8 vertices

Answer:

I beleive it is the first option

Step-by-step explanation:

Simplify the expression so there is only one power for each base.

Answers

Answer:

Step-by-step explanation:

a (-5 + 3) = -2 ; (-7-4) = -11

The distance a person can travel varies directly with the time they have been traveling if going at a constant speed. If Phoenix traveled 78 miles in 1.5 hours while going at a constant speed, how far will he travel in 2 hours at the same speed?

Answers

Answer:

answer is 175 miles, have a good day <3

Plz help due tomorrow ill give Brainlyest if correct

Answers

Answer:

a = 3.6

Step-by-step explanation:

[tex] \frac{2}{3} (6a + 9) = 20.4 \\ \\ \bigg( \frac{2}{3} . \boxed{6a} \bigg) + \bigg(\boxed{ \frac{2}{3}} . {9} \bigg) = \boxed{ 20.4} \\ \\ (2.2a) + (2.3) = 20.4 \\ \\ 4a + 6 = 20.4 \\ \\ 4a = 20.4 - 6 \\ \\ 4a = 14.4 \\ \\ a = \frac{14.4}{4} \\ \\ a = \boxed{3.6}[/tex]

2/3*6a+2/3*9=20.4
= 4a+6=20.4
= a=14.4/4
= a=3.6

Simplify the expression 7h +(-5.9d) – 17+4d -3.4h

Please help me need it done ASAP

Answers

Answer:

−1.9d+3.6h-17

Step-by-step explanation:

You just need to combine like terms ;)

Hope it helps, let me know

can yall pls help wit this pls asap
i will mark you brainliest if u are correct first

Answers

Answer:  4955.30

Step-by-step explanation:

F = P (1+i)^n

F = $4000 (1+.055)^4

F = $4955.2986

Which will be 4955.30

Answer:

A. $4955.30

Step-by-step explanation:

Look at the equation

A(t)= P(1+r)^t

In this equation,

A(t) is your amount after a period of time,

P is the initial balance stated in the question (4000)

r is the rate (must be converted to a decimal) as stated in the question (0.055)

t represents the amount of time that has passed (4 years)

Whenever you plug this into the equation, you get

A(t) = 4000(1.055)^4 and this can be plugged into a calculator to get your answer which will be

4955.29 (round up to .3) and your final answer is A. 4995.30

In order to convert from percent to decimal you just need to move the decimal to the left two places

5.5 becomes 0.055 after the decimal is shifted

if p q by the consecutive interior angles theorem which angles must be supplementary​

Answers

Answer:

Angles 3 and 8 are consecutive interior angles

Step-by-step explanation:

Here, we want to use the consecutive interior angles theorem to find the supplementary angles

We start by looking at the transversal line

two angles that are directly above each other on the two lines are consecutive interior angles that are supplementary

We have this two as;

Since it is P and Q that are parallel, it is angles 3 and 8 that are consecutive interior angles

When you multiply 2 decimals, how do you know where to place the comma in the product?

Answers

Answer:

you mean the decimal point?

Step-by-step explanation:

You will know when you cross the decimal point when multiplying.

Answer: it would just be like putting a comma normally, just all you have to do is get your new number but then just add both the comma and decimal it shouldn’t effect on where its put! If that’s what your asking!

Step-by-step explanation:

Other Questions
Which religious sect in the colonies encouraged participation of all its members in governing the group Should the United States engaged in imperialism ? Help me please!!!!!!! The Persians wanted revenge against the Greeks. Describe anevent in your own life or on the news where revenge was involved.What was the outcome? Using a 21 percent rate:Compute the deferred tax asset or deferred tax liability (if any) from a transaction resulting in a $31,000 temporary excess of book income over taxable income.Compute the deferred tax asset or deferred tax liability (if any) from a transaction resulting in an $18,400 permanent excess of book income over taxable income.Compute the deferred tax asset or deferred tax liability (if any) from a transaction resulting in a $55,000 temporary excess of taxable income over book income. You know that a rope is no more than 100 feet long. You need to cut the rope into three pieces the second piece is to be three times as long as the first piece, and the third piece must be 18 feet long. What is the maximum length of the second piece? The primary goal of the Texas Equal Suffrage Association was to -A. reform the poor conditions in Texas prisonsB. outlaw the sale and consumption of alcoholic beveragesC. protect the voting rights that had been granted to African AmericansD. win ratification of the Nineteenth Amendment to the U.S. Constitution Find the pair of numbers that will multiply to give you the bottom number and add to the top number Find the area of the triangle. Round your answer to the nearest 10th. 10 6 5x (-3)A .The amount of money a snack bar earns for selling 3 sandwiches for $5 per sandwichB.The temperature change as it decreases 5 degrees every hour for 3 hours. A child grew 3 inches each year for 5 yearsD.The change in elevation of a submarine as thinks 3 meters every second for 5 seconds A company produces fruity drinks that contain a percentage of real fruit juice. DrinkA contains 20% real fruit juice and Drink B contains 15% real fruit juice. Thecompany used 100.5 liters of real fruit juice to make 30 more liters of Drink A thanliters of Drink B. Write a system of equations that could be used to determine thenumber of liters of Drink A made and the number of liters of Drink B made. Definethe variables that you use to write the system. Need to know about personification What are the -AR regular verb endings:1. Yo -2. T-3. L-4. Nosotros/as-5. Ellos/as- Is -6.743743 a rational or irrational number?Your answer:Rational because .743 repeatsRational because the 6 is negativeIrrational because the number never endsIrrational because the 6 is negative Pls help me! Its due tonight! Put them in order pls and thank you!!! What is a millet? Who lived in them? define private equity funds. High-Low Method, Cost Formulas The controller of the South Charleston plant of Ravinia, Inc., monitored activities associated with materials handling costs. The high and low levels of resource usage occurred in September and March for three different resources associated with materials handling. The number of moves is the driver. The total costs of the three resources and the activity output, as measured by moves for the two different levels, are presented as follows:Resource Number of Moves Total CostForklift depreciation: Low 5,000 $2,200 High 16,000 2,200 Indirect labor: Low 5,000 $66,000 High 16,000 105,600 Fuel and oil for forklift: Low 5,000 $3,550 High 16,000 11,360 Required:If required, round your answers to two decimal places. Enter a "0" if required.Determine the cost behavior formula of each resource. Use the high-low method to assess the fixed and variable components.Forklift depreciation:V $F $Y $Indirect labor:V $F $Y $ + $XFuel and oil for forklift:V $F $Y $X * CountdownSeries 5 / Page 6Justin has a paper parallelogram with alotted line drawn on it. He will use scissorso cut along the line, forming a triangle andpentagon7 cm8 cm3 cm3 cmWhich equation can be used to find p. thearea of the pentagon?A p= (7 6 / (3.3)Bp=(7-6)-(3.3)cp-417.6.3.3)Dp = (7 + 6) - (3 + 3) What The Meaning of communications