12. After 80 years of 5.8% interest compounded monthly, an account has $102,393.44. What was the
original deposit amount?

Answers

Answer 1

Answer:

12195508,42

Step-by-step explanation:

A(1-R) NA is the depositR is the % presentN is the time period (exponent)A(1-5.8%)80=102,393.44
Answer 2

An account has $102,393.44 after 80 years of 5.8% compounded monthly interest. The initial deposit was around $991.45.

What is meant by deposit?A deposit is money held at a bank. A deposit is a monetary transaction in which money is transferred to another party for safekeeping.A deposit is money placed in a bank account. Deposits are classified into two types: demand deposits and time deposits. Checking, savings, and money market accounts are all examples of demand deposit accounts. Certificates of deposit (CD) and individual retirement accounts are examples of time deposit accounts.

Therefore,

Assume that each year has 52 weeks: then compounding occurs.

n = 52 × 80n

times and the rate for each compounding is

[tex]$i=\frac{5.8 \%}{52}=\frac{0.058}{52}$[/tex]

If the original deposit amount is

PV

then the future value

FV

is equal to

[tex]$$F V=P V \cdot(1+i)^n=P V \cdot\left(1+\frac{0.058}{52}\right)^{52 \cdot 80}$$[/tex]

We know the future value (which is given as $ 102,393.44), so calculating the present value is simple:

[tex]P V=F \frac{V}{(1+i)^n}=\frac{\$ 102,393.44}{\left(1+\frac{0.058}{52}\right)^{52 \cdot 80}}[/tex]

The simplest way to compute this is to use a calculator:

[tex]$P V \approx \$ 991.45 .$$[/tex]

We can simplify this expression with great precision just for fun. It is well known that

[tex]$\left(1+\frac{1}{n}\right)^n \rightarrow e$[/tex]

which easily implies that

[tex]$\left(1+\frac{a}{n}\right)^n \rightarrow e^a$[/tex]

Here,

[tex]$$\left(1+\frac{0.058}{52}\right)^{52 \cdot 80}=\left(\left(1+\frac{0.058}{52}\right)^{52}\right)^{80} \approx\left(e^{0.058}\right)^{80}=e^{0.058 .80}=e^{4.64}[/tex]

That is, [tex]P V \approx F V e^{-4.64}$.[/tex]

Hence, An account has $102,393.44 after 80 years of 5.8% compounded monthly interest. The initial deposit was around $991.45.

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Related Questions

A bakery asks 75 customers to vote for a new bagel flavor. Onion flavor receives 33 votes. Cheddar flavor receives 42 votes. Use this information to answer the questions below. What fraction shows the proportion of customers who voted for cheddar flavor? What percent of customers voted for cheddar flavor?

Answers

Using proportions, it is found that:

The fraction that shows the proportion of customers who voted for cheddar flavor is [tex]\frac{42}{75}[/tex]56% of customers voted for cheddar flavor.

A proportion is the number of desired outcomes divided by the number of total outcomes.A percentage is the proportion multiplied by 100%.

In this question, 42 out of 75 customers voted for the cheddar flavor, hence:

[tex]p = \frac{42}{75}[/tex]

That is, the fraction that shows the proportion of customers who voted for cheddar flavor is [tex]\frac{42}{75}[/tex]

The percentage is:

[tex]\frac{42}{75} \times 100\% = 56\%[/tex]

56% of customers voted for cheddar flavor.

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Two tanks hold a total of 61 gallons of a toxic solvent. One tank holds 4 gallons more than twice the amount in the other. How many gallons does each tank hold?

Answers

Answer:

tank 1 : 19 gallons

tank 2 : 42 gallons

Step-by-step explanation:

tank 1 : x

tank 2 : 2x+4 ( 4 more than twice the other )

x + ( 2x + 4 ) = 61

3x + 4 = 61 [ add x + 2x = 3x ]

3x = 57 [ subtract 4 on both sides ]

x = 19 [divide 3 on both sides ]

tank 1 : 19 gallons

tank 2 : 42 gallons

Mrs. Montgomery earns a 6.5% commission on her total sales. Last month, she had sales of $55,780. How much commission did Mrs. Montgomery earn last month?

Answers

Answer:

3625.7

Step-by-step explanation:

hope that will help goodbye

The large rectangle below represents one whole. What percent is represented by the shaded area? %​

Answers

Answer:

Step-by-step explanation:

would help a lot if you show the picture or describe it very well.

The two triangles are similar. Find the values of the unknown variables

Answers

Answer:

x = 84 y = 59°

Step-by-step explanation:

x = (40/30)×63

x = 84

∆ABC = ∆PQR

so y = 59°

Answer:

1.) 47

2.) 28

Step-by-step explanation:

you just had to use the sin equation for both

0.1/0.5=X/10 what is x

Answers

0.1/0.5 is the same as 1/5

1/5 = X/10

we times both sides by 10 to get x on its own

1/5 x 10 = 10/5 = 2 ( which equals X/10 x 10)

X/10 x 10 = X

2 = X

I need help on my homework.

Answers

Answer:

[tex] \frac{3}{4} > \frac{ - 2 + 2x}{4} \\ \\ (4 \times) \frac{3}{4} > \frac{ - 2 + 2x}{4} ( \times 4) \\ \\ 3 > - 2 + 2x \\ \\ 3 + 2 > - 2 + 2 + 2x \\ \\ 5 > 2x \\ \\ 5 \div 2 > 2x \div 2 \\ \\ \frac{5}{2} > x \\ \\ x < \frac{5}{2} [/tex]

I hope I helped you^_^

Nineteen less than twice a number is greater than the number added by four

Answers

Answer:

2x - 19 + x + 4

Step-by-step explanation:

2x - 19 + x + 4

2. Mark works as a consultant for a computer firm. His weekly income is $425. His
monthly expenses are $1,266. How much does he have left for variable expenses?
(Hint: There are four pay periods in one month.)

Answers

Hi there, I hope you understand my answer and that it is correct :)

So, First we multiply $425 by 4 because there are approximately 4 weeks in every month, so as shown  [tex]425*4=1,700[/tex]

____________________________________________________________

Next We subtract the answer, which we got to be 1,700 from 1266.  

 [tex]1700 - 1266=434[/tex]

____________________________________________________________

Answer : $434 left to spend :)

let f(x)=3x-2, g(x)=5x+1
fogof(2)

Answers

Answer:

f(g(2)) = 29

Step-by-step explanation:

First of all we write the new function defined as the composite function of f and g: f(g(x)) = 3(5x+1) - 2 = 15x + 3 - 2 = 15x -1

Now we can simply "plug in" 2 instead of the x in the function we just obtained: f(g(2)) = 15*2 - 1 = 29

The length of a rectangular garden is 3 feet more than 2 times the width. The perimeter of the garden is 48 feet. Find the length and width of the garden .

Answers

Answer:

  length 17 feet

  width 7 feet

Step-by-step explanation:

Let w represent the width. Then the length is 2w+3, and the perimeter is ...

  P = 2(L +W)

  48 = 2((2w+3) +w) = 6w +6

  42 = 6w

  7 = w . . . . . . . . width

  (2w+3) = 17 . . . length

The length of the garden is 17 feet; its width is 7 feet.

The average price of an item is $42 with a standard deviation of $3
Find a 98% confidence interval about the mean (one decimal place).
Is a value of X=48 unusually high or is it normal? Choose correct explanation!

Answers

The mean price goes between $ 41.16 and $ 42.84, so a value of $ 48 is unusually high.

Since the average price of an item is $ 42 with a standard deviation of $ 3, to find a 98% confidence interval about the mean, and determine if a value of X = 48 is unusually high or if it is normal, the following calculations should be done:

(((42 - 3) + (42 + 3)) / 2) x 0.98 = X ((39 + 45) / 2) x 0.98 = X 42 x 0.98 = X 41.16 = X

(((42 - 3) + (42 + 3)) / 2) x 1.02 = X ((39 + 45) / 2) x 1.02 = X 42 x 1.02 = X 42.84 = X

Therefore, as the mean price goes between $ 41.16 and $ 42.84, a value of $ 48 is unusually high.

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What is the answer to the following question?

Answers

Answer:

  SAS similarity

Step-by-step explanation:

You have two side ratios and the angle between the sides with those ratios. The appropriate similarity theorem is SAS.

Karma took a 50 question math test, but only 40 questions were correct. What was the percentage of correct answers?

Answers

Answer:

85 percent

Step-by-step explanation:

Someone help please

Answers

It is 4pi/7, or b. Just want to help ;)

Write as the opposite of a square root. -3√5

Answers

Answer:

3x5² is the opposite of ur uestion

The value of -3√5 as the opposite of the square root is -75.

What is square root?

The factor of a number that, when multiplied by itself, yields the original number is known as the square root of the number. Special exponents include squares and square roots. Think about the number 9. When the number 3 is multiplied by itself, the result is 9.

Given:

-3√5

The opposite of the square root is the square, so,

-3√5 = -3 × 5²

-3√5 = - 3 × 25

-3√5 = - 75

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Solve x2+6x+7=0
A.x=-1 and x=-5.
B. 3+ √2
C.-3+ √2
D. -3+ √2
———-
2

Answers

Answer:

  -3+ √3 or -3- √3

Step-by-step explanation:

The answer would be -3-√2 and -3+√2

1
Renee is comparing prices from Kay's Catering and Weddings 'R' Us to serve the meals for her wedding
dinner. The catering cost, c, for each catering service Renee is considering, based on x meals served, is
shown on the coordinate grid.
Catering Cost for Wedding
2000
1800
1600
Kay's Catering
A
1400
1200
1000
C= 10m + 800
C = 15m + 400
Catering Cost ($)
800
Weddings 'R' US
B
C =
600
5m + 800
am + 800
400
200
C=
10 20 30 40 50 60 70 80 90 100
Number of Meals
с
C= 800m + 10
C = 400m + 15
Which system of equations is best represented by this graph?
D
C = 3m + 1,600
C =
M + 80

Answers

Answer:

5000

Step-by-step explanation:

a storage tank is 60% filled with chemical solution. The storage tank holds 1,280 liters of chemical solution. How many liters of chemical solution are needed to fill the storage tank to the​ top?

Answers

Answer:

Step-by-step explanation:

write a proportion and cross multiply to solve for x

[tex]\frac{60}{100} = \frac{x}{1280}[/tex]

100x=76,800

x=768

60% full is 768 L. If the tank can hold 1,280 Liters, you need 512 more to fill it.

Alternatively...if the tank is 60% full, we need 40% more to fill it

[tex]\frac{40}{100} =\frac{x}{1280}[/tex]

100x=51,200

x=512 L

will give brainliest due in 20 min

Answers

Answer:

25 is the area of ABCD

Step-by-step explanation:

5×5 = 25

Mrs. Heath baked 56 cookies. She put an equal number of cookies into 7 bags. How many cookies did she put in each bag?

Answers

Answer:

8

Step-by-step explanation:

you have to divide 56 by 7 and you will get 8.

Answer:

8

Step-by-step explanation:

You're dividing the 56 cookies into 7 bags, so you write 56 ÷ 7 = 8

Find the 57th term of the arithmetic sequence -13,-29,-47,….

Answers

Answer:

answer -909 photo with solution is attached

Show that the equation y + 8 = 2(4x + 4) is linear and that it represents a proportional relationship between x and y.

Answers

Answer:

Step-by-step explanation:

I'm not sure but i think its
y + 8 = 8x + 8

Alan has $400 in his checking account. He withdraws $50 each week. The amount remaining in his account, f(x), after x weeks is
represented by a function. What is the range of the function?

Answers

Answer:

  {0, 50, 100, 150, ..., 350, 400}

Step-by-step explanation:

The range of Alan's balance will be multiples of 50 that are between (and including) 0 and 400.

  {0, 50, 100, 150, ..., 350, 400}

_____

The expression for f(x) is ...

  f(x) = initial balance - (rate of withdrawal) × (time period)

  f(x) = 400 -50x

This is a continuous linear function defined for all x, and capable of producing f(x) values between -∞ and +∞. The range of this function is "all real numbers."

However, as applied to this problem, the domain of x is the set of integers from 0 to 8. The corresponding range is multiples of 50 from 0 to 8, that is, values 0, 50, ..., 350, 400.

How much water do you need to add to make each concentration?
1% sugar syrup using 12 g sugar

Answers

Answer:

1188 grams of water

Step-by-step explanation:

x is the grams of water

so total is 12+x grams

sugar/total is 12/12+x

and 1% ratio is 12/12+x=1/100

so x would be 1188 grams of water.

Answer:

1188

Step-by-step explanation:

Start with the part and whole proportion

[tex]\frac{12}{?} =\frac{1}{100}[/tex]

multiply the one by 12 and 100 by 12

[tex]\frac{12}{1200} =\frac{1}{100}[/tex]

now subtract 12 from 1200

then you get 1188.

I hope this helps :))

Find the circumference of a circle with a radius of 8 mm.​

Answers

Answer:

C=50.27mm

Step-by-step explanation:

C=2πr=2·π·8≈50.26548mm

Subtract:
(3x^3– 10x^2+ 13x) – (5x^3+ 4x² – 9x)
A. 8x^3 + 14x^2 - 22x
B. 8x^3 - 6x^2 + 4x
C. 2x^3 - 6x^2 - 4x
D. -2x^3 - 14x^2 + 22x

Answers

Answer:

D

Step-by-step explanation:

(3x³ - 10x² + 13x)  -  (5x³ + 4x² - 9x)

3x³ - 10x² + 13x  - 5x³ - 4x² + 9x  Change all terms after the subtraction sign to

                                                      the opposite sign (definition of Subtraction)

(3x³ - 5x³) + (-10x² - 4x²) + (13x + 9x)    Group like terms together

-2x³ - 14x² + 22x                                    


Bidmass

Working out equations

Answers

Answer:

16

Step-by-step explanation:

5+15-8/4=

5+15-4=

16

Answer:

10/2+15-8/4= 18

Step-by-step explanation:

glad to help

3 more day till christmas

is (33,10), (35,8), and (36,10) a function

Answers

Answer: yes it’s a function because the x values aren’t repeating

Pls HELPPPPPP!! the answer

Answers

Answer:
( -2,1 )
Hope it helps
Have a good day!!
:))))))
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