A loan of $36,000 is made at 6.75% interest, compounded annually. After how many years will the amount due reach $57,000 or more?

Answers

Answer 1

Answer:

After 7.04 years the amount will reach $57,000 or more

Step-by-step explanation:

The rule of the compound interest is [tex]A=P(1+\frac{r}{n})^{nt}[/tex] , where

A is the new valueP is the initial valuer is the rate in decimaln is the period of the timet is the time

∵ A loan of $36,000 is made at 6.75% interest, compounded annually

P = 36,000

r = 6.75% = 6.75 ÷ 100 = 0.0675

n = 1 ⇒ compounded annually

∵ The amount after t years will reach $57,000 or more

A = 57,000

→ To find t substitute these values in the rule above

∵ 57,000 = 36,000 [tex](1+\frac{0.0675}{1})^{(1)(t)}[/tex]

∴ 57,000 = 36,000 [tex](1.0675)^{t}[/tex]

→ Divide both sides by 36,000

∵ [tex]\frac{19}{12}[/tex] =  [tex](1.0675)^{t}[/tex]

→ Insert ㏒ in both sides

∴ ㏒( [tex]\frac{19}{12}[/tex] ) = ㏒ [tex](1.0675)^{t}[/tex]

→ Remember ㏒[tex]a^{n}[/tex] = n ㏒([tex]a[/tex])

∵ ㏒( [tex]\frac{19}{12}[/tex] ) = t ㏒(1.0675)

→ Divide both sides by ㏒(1.0675)

∴ 7.035151337 = t

t ≅ 7.04

After 7.04 years the amount will reach $57,000 or more


Related Questions

How much will you spend on an investment if you want to receive $7,000 at an annual rate of 6% compounded weekly in 4 years?

Answers

Answer:

The investment required is: $5687

Step-by-step explanation:

Future Amount A= $7000

Rate r = 6% =0.06

Time t = 4

Compounded Weekly = n= 52

We need to find Principal Amount P

The formula used is: [tex]A=P(1+\frac{r}{n})^{n*t}[/tex]

Putting values and finding P

[tex]A=P(1+\frac{r}{n})^{n*t}\\7000=P(1+\frac{0.06}{52})^{4*52}\\7000=P(1.001)^{208}\\7000=P(1.231)\\P=\frac{7000}{1.231} \\P=5687[/tex]

So, The investment required is: $5687

Solve for X to the nearest tenth

Answers

Answer:

Step-by-step explanation:

[tex]\frac{x}{14}[/tex] = cos32°

x = 14cos32° ≈ 11.9

Cual es el resultado de la división 1771.2 entre 48

Answers

Responder: 36.9

explicación paso a paso:

1771.2 / 48 = 36.9

For the cube shown, AD and HG are?
Parrallel lines
Oblique lines
Skew lines
Perpendicular lines

Answers

Answer:

Parallel lines

Step-by-step explanation:

how do you identify rational expression?​

Answers

Answer:

Step-by-step explanation:

Determine the domain. The excluded values are those values for the variable that result in the expression having a denominator of 0.

Factor the numerator and denominator.

Find common factors for the numerator and denominator and simplify.

Does somebody know the answer to this question I’m lost

Answers

Answer:

81b + 4 - 14/3b

Step-by-step explanation:

divide by 3b, u can leave the fraction in there

What is the range of the function y=e4x?
Oy < 0
Oy>
O y<4
Oy>4

Answers

9514 1404 393

Answer:

  y > 0

Step-by-step explanation:

The range of the function ...

  y = e^(4x)

is the same as the range of any exponential function:

  y > 0

The function can take on any positive value, but will never be 0 or negative. It has a horizontal asymptote of y=0.

The range of the given function is y > 0.

What is Function?

A function is a relation from a set A to a set B where the elements in set A only maps to one and only one image in set B. No elements in set A has more than one image in set B.

Given function is,

y = e⁴ˣ

This is an exponential function.

The range of any exponential function is all the real numbers which are greater than 0.

So here also, the range is all the real numbers which are greater than 0.

So range is y > 0.

Hence the correct option is B.

Learn more about Exponential Functions here :

https://brainly.com/question/28596571

#SPJ7

- A picture frame is 12 inches long and 9 inches wide. In inches, what is the diagonal length of
the picture frame?
O 21 inches
O 15 inches
8 inches
06 inches

Answers

I would say 15 inches

Evaluate.

8−2⋅3+7

PLZ PLZ HURRY

Answers

8-2•3+7= 8-6+7= 2+7=9 you have to use Pemadas

Answer:

9

General Formulas and Concepts:

Pre-Algebra

Order of Operations: BPEMDAS

Brackets Parenthesis Exponents Multiplication Division Addition Subtraction

Step-by-step explanation:

Step 1: Define expression

8 - 2 · 3 + 7

Step 2: Evaluate

Multiply:                    8 - 6 + 7Subtract:                   2 + 7Add:                          9

can someone please help try the best that you can

Answers

the answer is C

because the only side that would work to make ASA is C, A would just make it SAA

ps i had geometry last year and these type of problems were easiest in my opinion so if you have any questions feel free to ask :)

are greater than 0 and located to the right of 0 on a number
line.
Integers
O Positive numbers
Negative Numbers
Opposites
Question 2
10 pts
Every whole number, fraction, and decimal has an opposite.
True
False

Answers

Answer:

1o

2true I helped it help

34.48 17.065 to the nearest tenth sorry just trying to get work done but yea if u help thx!!

Answers

Answer:

34.5

17.1

Step-by-step explanation:

Kaley and Tom both work at Publix as cashiers for $7.68 per hour. This week Kaley worked 5 more hours than Tom in overtime. Choose all the expressions that represents the weeks' wages for Kaley if h represents the number of hours Tom worked.

Answers

Answer:

X=5+h

Step-by-step explanation:

Which model represents 1/3

Answers

I’m pretty sure there is more to the question than uploaded.

(x^2-6) (x+6) + 25
plz someone answer correctly

Answers

Answer:

x^3+6x^2-6x-11

Step-by-step explanation:

PLEASE GIVE BRAINLIEST

(x² - 6) (x + 6) + 25

x²(x + 6) + -6(x + 6) + 25

x³ + 6x² - 6x - 36 + 25

x³ + 6x² - 6x - 11

If x6 as 3:9, then x is equal to? ​

Answers

Answer:

2,33

Step-by-step explanation:

because if you multiply 3 + 9 you,ve got 27 besides 6

Use the quadratic formula to solve x^2 -3x - 5 = 0. Round to two decimal places.

Answers

Answer:

[tex]\mathrm{The\:solutions\:to\:the\:quadratic\:equation\:are:}[/tex]

[tex]x=\frac{3+\sqrt{29}}{2},\:x=\frac{3-\sqrt{29}}{2}[/tex]

Step-by-step explanation:

Given the equation

[tex]x^2\:-3x\:-\:5\:=\:0[/tex]

solving with the quadratic formula

[tex]\mathrm{For\:a\:quadratic\:equation\:of\:the\:form\:}ax^2+bx+c=0\mathrm{\:the\:solutions\:are\:}[/tex]

[tex]x_{1,\:2}=\frac{-b\pm \sqrt{b^2-4ac}}{2a}[/tex]

[tex]\mathrm{For\:}\quad a=1,\:b=-3,\:c=-5[/tex]

[tex]x_{1,\:2}=\frac{-\left(-3\right)\pm \sqrt{\left(-3\right)^2-4\cdot \:1\cdot \left(-5\right)}}{2\cdot \:1}[/tex]

[tex]x_{1,\:2}=\frac{-\left(-3\right)\pm \sqrt{29}}{2\cdot \:1}[/tex]

separating the solutions

[tex]x_1=\frac{-\left(-3\right)+\sqrt{29}}{2\cdot \:1},\:x_2=\frac{-\left(-3\right)-\sqrt{29}}{2\cdot \:1}[/tex]

solving

[tex]x=\frac{-\left(-3\right)+\sqrt{29}}{2\cdot \:\:1}[/tex]

  [tex]=\frac{3+\sqrt{29}}{2\cdot \:1}[/tex]

  [tex]=\frac{3+\sqrt{29}}{2}[/tex]

also solving

[tex]\:x=\frac{-\left(-3\right)-\sqrt{29}}{2\cdot \:\:1}[/tex]

  [tex]=\frac{3-\sqrt{29}}{2\cdot \:1}[/tex]

  [tex]=\frac{3-\sqrt{29}}{2}[/tex]

[tex]\mathrm{The\:solutions\:to\:the\:quadratic\:equation\:are:}[/tex]

[tex]x=\frac{3+\sqrt{29}}{2},\:x=\frac{3-\sqrt{29}}{2}[/tex]

Please hurry please

Answers

Answer:

a = -10

Step-by-step explanation:

solving inequation : a [tex]\leq[/tex] -6.5    so   a = -10   complies

Answer:

a=-10

Step-by-step explanation:

[tex]2a-7\leq -20\\2a\leq -13\\a\leq -6.5\\[/tex]

The only solution that fits this is a=-10

2 ÷ 1/2 what is the answer

Answers

the answer is 4.....

Answer:

2 ÷ 1/2 is 4

Step-by-step explanation:

Help???
Anyone?
Thank you

Answers

25% of $35 is 8.75, so the price would be $26.25. plus tax, the final price would be $27.825 or $27.83. if that doesn't work, try $27.82

(i was wrong before, this should be right now)

hope this helps!! :)

2/3 times 8
Please answer quick

Answers

Answer:

16/3 or 5 1/3

Step-by-step explanation:

Answer:

2/3x8= 2/3x1/8= 6/8 if u simplifie it, it would be 3/4.

=3/4

Pls help me I’m really dumb

Answers

1-$2, 2-$4, 3-$6, 7-$14

From Monday - Tuesday, Adam earns $122 dollars. If he continues to earn the same amount for the rest of the week, how much will he have at the end?

Answers

Answer:

$437

Step-by-step explanation:

There are 7 days in a week.

Let's stop at the last even number, the 6th day.

Tuesday is four days away from Sunday, so multiply 122 by 3.

[tex]\mathrm{122}[/tex] × [tex]3[/tex] = [tex]366[/tex]

Finally, we are at the 7th day. There is no 8th day in a week, so divide 122 by 2.

[tex]122[/tex] ÷ [tex]2[/tex] [tex]=61[/tex]

Now, let's add 61 to 366. We get $437, and that is our answer.

Hope this helps!

g(x) = x2 + 5; 9(-6) how to evaluate the function for the given value​

Answers

Answer:

9×−6

​​

Thats the answer put that Promise can I get brainliest just click on my profile then go back and youĺl see a crown and click it on my name

Step-by-step explanation:

I give brainiest Martin decided to buy 3 bags of grapes weighing 4 1 5 pounds each. How much did all 3 bags of grapes weigh? 1 and one-fifth 7 and one-fifth 12 and one-fifth 12 and three-fifths

Answers

Answer:

12 3/5

Step-by-step explanation:

Answer:

12 3/5       can i have brainlist??                                                                          

The lowest temperature ever recorded on Earth was
-89.2°C in Antarctica. The highest temperature ever
recorded was 56.7°C in California. What is the
difference between the highest and lowest recorded
temperatures?
PLEASE ANSWERRRRR

Answers

Answer:

Highest temperature=56.7°C

Lowest temperature= -89.2°C

Difference between the temperatures = 89.2+56.7=145.9

The price of two dozen candy bars is $4.80. Bridget wants to buy 5 candy bars. what will she have to pay?

Answers

Answer:

24

Step-by-step explanation:

4.8×5 you have 5 candy bars that are $4.80 each so you multiply that by 5.

the answer is $1.00
because two dozen = 24
$4.80 divided by 24 is $0.20
$0.20 x 5 = $1.00

The time taken to build a house is inversely proportional to the number of builders.
If there are 6 builders, it takes 80 days to complete the house.
How many builders must be employed to build the house in just 16 days?

Answers

Answer:

30 builders

Step-by-step explanation:

80÷5=16

6x5=30

The temperature right now is -3°F, and the forecasted high temperature is 2 °F. How many degrees will it have to warm to reach 2°F? 6.NS.5​

Answers

Answer:

5

Step-by-step explanation:

Subtract the high temp from the low temp2 - ( -3) = 2 + 3 = 5

What is the radius of a circle whose equation is (x + 5)2 + (y - 3)2 = 42?
O 2 units
Ο Ο Ο
4 units
8 units
16 units

Answers

Answer:

The radius of the circle is:

[tex]r=4[/tex] units

Step-by-step explanation:

Given the equation

[tex]\left(x\:+\:5\right)^2\:+\:\left(y\:-\:3\right)^2=\:42[/tex]

As we know that

[tex]\left(x\:-\:a\right)^2\:+\:\left(y\:-\:b\right)^2=\:r^2\:[/tex]

is the equation of the circle with a radius 'r', centered at (a, b)

[tex]\mathrm{Rewrite}\:\left(x+5\right)^2+\left(y-3\right)^2=4^2\:\mathrm{in\:the\:form\:of\:the\:standard\:circle\:equation}[/tex]

so, the circle properties are:

[tex]\left(x-\left(-5\right)\right)^2+\left(y-3\right)^2=4^2[/tex]

Therefore, the radius of the circle is:

[tex]r=4[/tex] units

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