An individual saves $5000 in a bank account at the beginning of each year for 10 years.
No further savings or withdrawals are made from the account. Determine the total amount saved if the annual interest rate is 8% compounded:
(a) annually;
(b) semi-annually.

Answers

Answer 1

Answer:

a) Amount saved if the interest is compounded annually is $5832

b) Amount saved if the interest is compounded semi-annually is $5849.5

Step-by-step explanation:

Principal Amount P = 5000

Time t = 10 years

Annual interest i = 8% = 0.08

We need to find amount saved if interest is compounded a) annually b) semi-annually

a) Amount saved if the interest is compounded annually

If interest compounded annually, n= 1

Using Formula: [tex]A=P(1+\frac{r}{n})^{nt}[/tex]

Putting values:

[tex]A=P(1+\frac{r}{n})^{nt} \\A=5000(1+\frac{0.08}{1})^{1*2}\\A=5000(1+0.08)^2\\A=5000(1.08)^2\\A=5000(1.1664)\\A=5832[/tex]

So, Amount saved if the interest is compounded annually is $5832

b) Amount saved if the interest is compounded semi-annually

If interest compounded semi-annually, n= 2

Using Formula: [tex]A=P(1+\frac{r}{n})^{nt}[/tex]

Putting values:

[tex]A=P(1+\frac{r}{n})^{nt} \\A=5000(1+\frac{0.08}{2})^{2*2}\\A=5000(1+0.04)^4\\A=5000(1.04)^4\\A=5000(1.1699)\\A=5849.5[/tex]

So, Amount saved if the interest is compounded semi-annually is $5849.5

Answer 2

(a). When compounded annually, the amount will be [tex]\$ 10,794.6[/tex]

(b). When compounded semi-annually, the amount will be [tex]\$ 10,955.6[/tex]

Compound interest:

It is given that, an individual saves $5000 in a bank account at the beginning of each year for 10 years.

[tex]Principal(P)=5,000, t=10 years, rate(r)=8\%[/tex]

As we know that,

               [tex]Amount=P(1+\frac{r}{100} )^{t} \\\\Amount=5,000(1+\frac{8}{100})^{10} \\\\Amount=5,000*(\frac{108}{100})^{10}\\\\Amount=\$ 10,794.6[/tex]

When interest is compounded semi-annually;

[tex]r=8/2=4\%, t=10*2=20[/tex]

             [tex]Amount=5,000(1+\frac{4}{100})^{20} \\\\Amount=5,000*(\frac{104}{100})^{20}\\\\Amount=\$ 10,955.6[/tex]

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Related Questions

Having trouble finding Z.

Answers

115 because 115 plus 65 is equal to the measure of 180 degrees, which is the amount of degrees formed by a single, straight, line. Try not to overthink it :)

z would be 115. you know that one angle is 65, so you'd subract 65 from 180, leaving you with an answer of 115. please mark brainliest and have a great day.

HELP

Does this circle have a radius or diameter?

Answers

Answer:

Radius

Step-by-step explanation:

The radius is a straight line from the center to the circumference of a circle

The diameter is a straight line, from circumference to circumference, that passes throught a citcle's center

s the relation shown in the table below a function? Explain. *
(NEED HELP ASAP)

Answers

Answer:

it is not a function

Step-by-step explanation:

Its not a function because the number 3 in the input is being repeated, and when a domain number is repeated its not a function

a set of data items is normally distributed with a mean of 60. convert the data item to a z score if the standard deviation is a as given. data item : 56 standard Deviation 4
A. 4
B. -1
C. 1
D. -4

Answers

C

(z - x) / s (standard dev)
(60-56)/4
= 4/4
= 1

The z-score for data item 56, with a mean of 60 and a standard deviation of 4, is -1.

Option B is the correct answer.

We have,

To convert a data item to a z-score, you can use the formula:

z = (x - μ) / σ

Where:

z = z-score

x = data item

μ = mean

σ = standard deviation

In this case, the data item (x) is 56, the mean (μ) is 60, and the standard deviation (σ) is 4.

Plugging these values into the formula.

z = (56 - 60) / 4

z = -4 / 4

z = -1

Therefore,

The z-score for data item 56, with a mean of 60 and a standard deviation of 4, is -1.

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What is an equation of the line that passes through the point (6, 7) and is parallel to
the line 2x - 3y = 9?

Answers

Answer:

Step-by-step explanation:

If it is parallel with the line 2x-3y=9

Both of them have same slope so

2x-3y=9 turn this into slope intercept form first

-3y=9-2x

Y=9/-3 + -2x/-3

Y=2/3x - 3 the slope of this equation is ⅔

So our new equation will be

Y=⅔x +b

Since (6,7)

On the line

6=⅔(7)+b

b= 6-14/3=4/3

Y=⅔x+4/3 (slope intercept form)

3y-2x=4 ( general equation of line )

The equation of the line that passes through the point (6, 7) and is parallel to the line 2x - 3y = 9 is 3y -2x = 19

The equation of a line in point slope form is expressed as

y-y0 = m(x-x0)

m is the slope of the line

(x0, y0) is the point on the line.

Given the equation 2x - 3y = 9

Rewrite in standard form y = mx + b

-3y = -2x + 9

y = 2/3 x - 3

Compared with the standard, the slope of the line is 2/3

Substitute the slope and the point into the point slope equation.

y - 7 = 2/3 (x - 6)

3(y-7) = 2(x-6)

3y - 21 = 2x - 2

3y - 2x = 19

Hence the equation of the line that passes through the point (6, 7) and is parallel to the line 2x - 3y = 9 is 3y -2x = 19

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HURRY PLEASE!!!! I NEED TO TURN THIS IN SOON

i need an explanation on how you solved it too.

Answers

Answer:

X = 38° and w = 65°.

Step-by-step explanation:

Hey there!

Looking through figure, we get;

(3x + 1)° = (2x + 9)° + 30° { Exterior angle of triangle is equal to the sum of opposite adjacent interior angles}

(3x + 1)° = 2x + 9° +30°

or, 3x - 2x = 39° - 1°

x = 38°

X = 38°

Therefore, x = 38°

For w:

(3x + 1)° + w = 180° (being linear pair)

(3*38+1 )°+ w = 180°

115°+ w = 180°

w = 180° -115°

Therefore, w = 65°

Hope it helps...

4 1/10 -3 3/8=.....?

Answers

Answer:

29/40

Step-by-step explanation:

Solve by factoring:
X^2-13x-14=0

Answers

Answer:

x = -1 and x= 14

Step-by-step explanation:

x^2 -13x -14=0

x^2 + x- 14x -14 = 0

x(x+1) -14(x+1) = 0

(x+1)(x-14) =0

x+1 = 0

x= -1

x-14=0

x= 14

Answer:

x = -1, x = 14.

Step-by-step explanation:

Please help, I will give five stars.

Answers

the answer choice is C

Answer:

C

Step-by-step explanation:

So I don’t know if you don’t know how to do it but imagine right to explain it ... You good have to add oh yeah P2 together and all numbers together and all the p together see this is why I did use different colors. Have an amazing day :)

Which pair of angles is supplementary?

Answers

Answer:

I need to know the options to be able to answer

Edit your answer and attach the option and I'll gladly help you

May I have brainliest please? :)

Molly had 6 or 33% robins in her yard. Does she need to find a percent, part or whole

Answers

Answer:eita moçaa

Stedssfsdsvbg´xclmvb´zdmfbhd

da

What is the absolute value of -6

Answers

Answer:

6, man

Step-by-step explanation:

solve
[tex] \frac{3x + 4}{2} = 9.5[/tex]

Answers

Answer: 5

Step by step:

(3x+4)/2 = 9.5
3x+4 = 9.5*2
3x+4 = 19
3x = 19 -4
3x = 15
x = 5

factor the following expression 12y - 16​

Answers

Answer:

it's 4(3y-4)

Step-by-step explanation:

shout out to jazzy6805 for correcting me

Answer:

4(3y-4)

Step-by-step explanation:

sorry if wrong

what does 3000+1000=

Answers

Wouldn’t it be 4000?
Yes It would be 4000

What is the product of –24 and 35?

Answers

Answer:

-840

Step-by-step explanation:

"Product" means to multiply, so you multiply -24 by 35. Since -24 has a negative, negative times a positive will equal a negative number.

(Negative times negative is positive.)

(Negative times positive is negative.)

(Positive times positive is obviously positive.)

Using these simple rules, we can do this:

Simply multiply -24 by 35, or you can multiply 24 by 35 which is 840, but DON'T forget to put a negative symbol!

Hope this helps! Let me know if there is anything else.

The answer is negative -840

The graph below shows the hours students spent studying and their language arts test scores.

Hours Spent Studying vs. Language Arts Test Scores
A graph has hours spent studying on the x-axis and language arts test scores on the y-axis. A line goes through points (2.5, 60) and (5, 80).

Based on trend line on the graph, what is the expected test score for a student who did not study?
0.5
8
40
45

Answers

Answer:

cccc

Step-by-step explanation:

it is correct on edge

The expected test score for a student who did not study is 40.

Option C is the correct answer.

We have,

Given that the line on the graph passes through the points (2.5, 60) and (5, 80), we can use this information to estimate the expected test score for a student who did not study.

Let's calculate the slope of the line using the two given points:

Slope = (change in y)/(change in x)

= (80 - 60)/(5 - 2.5)

= 20/2.5

= 8

The slope of the line is 8, which indicates that for every additional hour spent studying, the test score increases by 8 points.

Since we are looking for the expected test score for a student who did not study (0 hours spent studying), we can substitute x = 0 into the equation of the line to find the corresponding y value (test score).

y = mx + b (where m is the slope and b is the y-intercept)

Using the given points, we can find the y-intercept (b) by substituting one of the points into the equation:

60 = 8(2.5) + b

60 = 20 + b

b = 60 - 20

b = 40

The equation of the line is y = 8x + 40.

Now, substitute x = 0 into the equation to find the expected test score:

y = 8(0) + 40

y = 0 + 40

y = 40

Thus,

The expected test score for a student who did not study is 40.

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Write an equivalent expression using commutative property of multiplication.
4 x (6 x 2) =

Answers

Answer:

im pretty sure it should be 4 x (2 x 6)=

if the answer is needed its 48

Step-by-step explanation:

A decrease of 250 attendees

Answers

Answer:

-250 attendees or you owe 250 attendees

Step-by-step explanation:

Decrease means negative or subtracting of something.

So a decrease of 250 attendees is -250  

The angle that is an alternate interior angle with angle 1 is angle ?

Answers

Answer:

the alternate angle is angle 2

Answer:

2

Step-by-step explanation:

Alternate interior angles are two angles that are on opposite sides of the transverse and on the inner (interior) side of the two parallels.

40% of 250 students have part-time jobs. How many students have
part-time jobs?

Answers

Answer:

100 students

Step-by-step explanation:

40/100 x 250 = 100

Answer:

100 Students

Step-by-step explanation:

[tex]\frac{250*40}{100} =100 students[/tex]

You work for a landscaping company and need to purchase a new trailer. The original price of the model you are looking at is $1,799, but the trailer is currently on sale for 15% off.

Answers

The new cost of the trailer, with the 16% discount, is $1,529.15. If you multiply 1,799 by .85 (as with the discount applied, you are paying 85% of the original cost), you would be $1,529.15.

You could also multiply .15 by $1,799, you get 269.85 (which is the discount with the sale). Subtract this value from 1799 and you would get the current price of the trailer (above)

what is 2x + y = -14 in slope intercept form?

Answers

Answer:

 y = -2x - 14

Step-by-step explanation:

Slope intercept form: y = mx + b

2x + y = - 14

      y = -2x - 14

Use distributive property and area models to solve these equations . Show your work.
4 x 9.4 6.4 x 1.2

3.5 x 4.9 8.4 x 5.2

Answers

Answer:

hablan español es que yo les pudiera ayudar pero no se tanto ingles como ustedes

6, b = 3 and c = 2:
2(a + b) – c = ______

Answers

Answer:

16

Step-by-step explanation:

2(6 + 3)-2

2x6=12 and 2x3=6

(12+6)-2

12+6=18

18-2=

16

Expanded form of 13.028

Answers

Answer:

Expanded form of 13.028

Step-by-step explanation:

13028/1000

.

A stock lost $3.75 of its value each day for 10 consecutive days. What is an interpretation of the product of -3.75 x 10

Answers

Answer:

ching chon me no fresnh lol

Step-by-step explanation:

ching chon me no fresnh lol

ching chon me no fresnh lol

In ΔLMN, l = 8.7 cm, m = 2.3 cm and n=6.6 cm. Find the measure of ∠M to the nearest degree.

Answers

Answer:

7

Step-by-step explanation:

\underline{\text{Solution Method 2:}}

Solution Method 2:

Use original formula

a^2=b^2+c^2-2bc\cos A

a

2

=b

2

+c

2

−2bccosA

From reference sheet.

\text{Since we are finding }\angle M\text{,}

Since we are finding ∠M,

\text{plug in }2.3\text{ for side }a:

plug in 2.3 for side a:

Opposit the angle we want

2.3^2 = 6.6^2+8.7^2-2(6.6)(8.7)\cos M

2.3

2

=6.6

2

+8.7

2

−2(6.6)(8.7)cosM

Plug in values. Side "a" is opposite the wanted angle.

5.29 = 43.56+75.69-114.84\cos M

5.29=43.56+75.69−114.84cosM

Square sides.

5.29 =

5.29=

\,\,\color{white}{-} 119.25-114.84\cos M

−119.25−114.84cosM

Add.

-119.25=

−119.25=

\,\,-119.25

−119.25

-113.96=

−113.96=

\,\,-114.84\cos M

−114.84cosM

\frac{-113.96}{-114.84}=\cos M

−114.84

−113.96

=cosM

Divide to solve for cos(A).

M= \cos^{-1}(\frac{-113.96}{-114.84})\approx7.098\approx 7^{\circ}

M=cos

−1

(

−114.84

−113.96

)≈7.098≈7

The angle according to the given data about the triangle will be equal to 7°.

What is an angle?

An angle results from the intersection of two lines at a point. The term "angle" describes the width of the "gap" that exists between these two rays. It's represented by the symbol ∠.

Angles are most frequently measured in degrees and radians, a measurement of roundness or rotation. Angles are a part of everyday existence.

As per the given information in the question,

The length of the sides is given as:

l = 8.7 cm

m = 2.3 cm

n = 6.6 cm

Use the formula given below to find the angle,

a² = b² + c² - 2bc cos A

The formula modified to the information will be,

m² = n² + l² - 2nl cos M

2.3² = 6.6² + 8.7² - 2(6.6)(8.7)cos M

5.29 = 43.56 + 75.69 - 114.84 cos M

-119.25 + 5.29 = -114.84 cos M

cos M = 113.96/117.84

M = cos⁻¹ 0.992

M = 7.09 ≈ 7°.

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pls anwer quick, i need this before tomorrow

Answers

2.98 Bc everything cancels out and then all that is left is x=2.98

A store buys a camera for $80 and decides to markup the price 35%. How much does the camera sell for?

Answers

Answer:

The camera is sold for $ 59.26.

Step-by-step explanation:

From the statement we understand that the new price of the camera ([tex]C'[/tex]) is calculated by:

[tex]C' = \frac{C_{o}}{\left(1+\frac{r}{100} \right)}[/tex] (1)

Where:

[tex]C'[/tex] - Price after increase, measured in US dollars.

[tex]r[/tex] - Increase rate, expressed in percentage.

If we know that [tex]C_{o} = 80\,USD[/tex] and [tex]r = 35[/tex], then the new price of the camera is:

[tex]C' = \frac{80\,USD}{1+\frac{35}{100} }[/tex]

[tex]C' = 59.26\,USD[/tex]

The camera is sold for $ 59.26.

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