Suppose you invest, every month, in an annuity that pays 3% interest, compounded monthly. After 25 years, you have $550,000. How much money do you earn from interest? Round your answer to the nearest hundred dollars. Do NOT round until you have calculated the final answer.

Answers

Answer 1

Answer:

180100

Step-by-step explanation:

Use savings annuity formula

Substitute A(25) = $550,000 , R= 0.03 and N=12 simplify and solve for D.

Answer 2

You have earned 292589 dollars from compound interest.

What is compound interest ?

Compound interest is calculated from both the initial principle and the previous accumulated interest.

According to the given question you invest, every month, in an annuity that pays 3% interest.So r = 3.

After 25 years, you have 550,000 dollars so amount (A) = 550,000.

We know, Interest = Amount - Principle.

A = P(1 + r/100)ⁿ, where n represents time in years.

Given n = 25.

The interest is compounded monthly so the formula will be

A = P[1 + (r/12)/100]¹²ⁿ.

555000 = P[ 1 + 3/1200]¹²ˣ²⁵.

555000 = P[ 1203/1200]³⁰⁰.

555000 = P(1.0025)³⁰⁰.

555000 = 2.115P

P = 262411.

CI = ( 555000 - 262411) dollars.

CI = 292589 dollars.

learn more about compound interest here :

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Related Questions

Which fraction is closest to 1/2? A number line from negative 1 to 1 in halves. 1/6 3/8 3/4 ‐1/2

Answers

Answer: 3/8

because 3/8 is .375
And 3/4 is .75
And 1/6 is .1666

1/2 is .50
3/8 is closest

The area of the triangle below is 44.59 square centimeters. What is the length of the
base?
9.1 cm

Answers

Answer:

6  cm.

Explanation:  6

cm.

Explanation:

Since they've given use the area of the triangle, we can use the area formula to find the base of the triangle.

The formula to find the area of a triangle is:

a = 1 2 h b

→ ( h = height ,  b= base )

We know:

a = 24 h = 8

So we can substitute them in and find  

Multiply by sides by 2 and then divide:

The base of the triangle is  

6 cm. -step explanation:

#7 and #8 PLEASE HELP!!

Answers

Answer:

7) x=15.2643

8)  x=21.33

Step-by-step explanation:

7) 8²+13²=c²

64+169=c²

233=c²

c²=√233

c=15.2643

8) 11²+x²=24²

121+x²=576

x²=576-121

x²=455

x=√455

x=21.33

Using the order of operations, what are the steps for solving this expression? 40/8+3^2+(15-7)*2 Arrange the steps in the order in which they are performed.​

Answers

9514 1404 393

Answer:

simplify parenthesesevaluate the exponential termdivide 40/8multiply 8*2add 5+9add 14+16

Step-by-step explanation:

  40/8+3^2+(15-7)*2 . . . . given

The order of operations tells you to start by evaluating expressions in parentheses. Here, that is the subtraction of 7 from 15.

  40/8 +3^2 +8*2 . . . . (15-7) = 8

Then you evaluate exponential terms.

  40/8 +9 +8*2 . . . . . 3^2 = 9

Then perform multiplication and division, left to right. Here, division is first, then multiplication.

  5 +9 +8*2 . . . . . divide 40/8 = 5

  5 +9 +16 . . . . . . multiply 8*2 = 16

Finally, perform addition and subtraction, left to right.

  14 +16 . . . . add 5+9

  30 . . . . . . . add 14+16

Answer:

it is 8

Step-by-step explanation:

Use the factor tree to find the prime factorization of 100.
What is the prime factorization of 100?
2 x 5
2 x 2 x 5 x 5
2 x 5 x 10
10 x 10

Answers

Answer:

2 * 2 * 5 * 5

Step-by-step explanation:

100 = 2 * 50

       = 2 * 2 * 25

       = 2 * 2 * 5 * 5

what is the length of PR?

Answers

Answer:

Step-by-step explanation:

will mark brainlist!! help please ​

Answers

Answer:

It is the 3rd one 9/5y+9.

Suppose a geyser has a mean time between eruptions of 83 minutes let the interval of time between the eruptions be normally distributed with the standard deviation 33 minutes what is the probability that a randomly selected time interval between eruptions is longer than 97 minutes

Answers

Answer:

0.336

Step-by-step explanation:

Here the mean is 83 min and the standard deviation is 33 minutes.  Note that

1 standard deviation above the mean comes out to (83 + 33) minutes, or 116 minutes.  So 97 minutes is above the mean and below 1 standard deviation above the mean.

What is the probability that the interval is BELOW 97 minutes?  If we find this, subtracting it from 1.000 results in the desired probability.

Using the Distribution key on my TI 83 Plus calculator, I get:

normalcdf(-100,97, 83,33) = 0.664.  

Subtracting this from 1.000 results in 0.336.

Tthe probability that a randomly selected time interval between eruptions is longer than 97 minutes is thus 0.336.

Question 5.... plz help

Answers

Answer:

ANSWER : 4

Step-by-step explanation:

hello :

tanA=7/2    means : A= tan^-1 (7/2) =74°

Determine if the ratios are equivalent: 12:16 and 72:96 *
10 points
Equivalent
Not Equivalent

Answers

Answer:

Step-by-step explanation:

12 : 16

Both have 4 in common

3 : 4

72 : 96

Both have 12 in common

6 : 8

Both have 2 in common

3 : 4

So both the ratios are equivalent

What is the measurement of Angle E? A) 45° B) 600 ( 75° D) 90°​

Answers

Not sure if you accidentally typed 600 instead of 60, but the answer should be 60º

explanation:

angles in a triangle sum to 180º, as shown by the triangle on the right (45+75+60=180)

so the missing angle E would be 60º

write the correct standard form of (2x100)*(3x10)*(4x1/100)​

Answers

230.04
....................

Identify the terminal point for a 45° angle in a unit circle.

Answers

9514 1404 393

Answer:

  (x, y) = ((√2)/2, (√2)/2))

Step-by-step explanation:

See the attached chart. The 45° angle can be found in the upper-right portion of the chart (1st quadrant).

PLS HELP!!!!
72 REWARD BC ITS URGENT :(
Which of the following equations is not balanced?
A. N2 + 3H2 --> 2NH3
B. Mgl2 + Br2 --> MgBr2 + I2
C. KCIO3 --> KCI +O2
D. HCI + NaOH --> NaCI +H2O​

Answers

It is c because I used Socratic

A bank loaned out $8,500, part of it at the rate of 14% annual interest, and the rest at 5% annual interest. The total interest earned for both loans was $785.00. How much was loaned at each rate?

$____ was ;oaned at 14% and $____ was loaned at 5%

Answers

Answer:

$4,000 was invested at 14% per year, while $ 4,500 was invested at 5% per year.

Step-by-step explanation:

Given that a bank loaned out $ 8,500, part of it at the rate of 14% annual interest, and the rest at 5% annual interest, and the total interest earned for both loans was $ 785.00, to determine how much was loaned at each rate you must perform the following calculation:

8,500 x 0.14 + 0 x 0.05 = 1,190

6,500 x 0.14 + 2,000 x 0.05 = 1,010

4,500 x 0.14 + 4,000 x 0.05 = 830

4,000 x 0.14 + 4,500 x 0.05 = 785

Thus, $ 4,000 was invested at 14% per year, while $ 4,500 was invested at 5% per year.

WILL GIVE BRAINLIEST !!

19. Car repairs. A consumer
organization estimates that
over a 1-year period 17% of cars will need to be repaired
once, 7% will need repairs twice, and 4% will require
three or more repairs. What is the probability that a car
chosen at random will need
a) no repairs?
b) no more than one repair?
c) some repairs?

Answers

Answer:

I think the answer is b. I am not sure so if I was incorrect I apologize.

Step-by-step explanation:

ou have decided to find a new one-bedroom apartment to live in. You want to find an apartment no further than a 30 miles from EKU. Using Zillow you take a random sample of 61 apartments. The mean rent of the sample is 640 dollars and the standard deviation 55 dollars. You want to use 95% confidence interval for the mean monthly rent for one-bedroom apartments within 30 miles of EKU to get an idea of how much on average people spend. Confirm that the sample size is large enough, calculate a 95% confidence interval and interpret the interval. (Round your answer to 2 decimal places)

Answers

Answer:

hfcfkyhgctyirkgt,ckcikkccy

Step-by-step explanation:

Please help will give brainliest

Answers

Answer:

A+B=180°(linear pair)

a+ 52°=180°

a=180°-52°

a=128° is your answer


Identify the slope in y=-1/3x + 2

Hint: y = mx + b
1. -1/3
2. 2
3. -2/3
4. 1

Answers

Answer:

A) -1/3

Step-by-step explanation:

y = mx + b

    m = slope

    b = y-intercept

y = -1/3x + 2

    m = -1/3

I need some help with my grade 10 math work

A music store had a sale on tapes and CDs. Tapes were on sale for $5 each and CDs were on sale for $7. During the sale, 32 tapes and CDs were sold. The cash receipts from the sale of the tapes and CDs, before taxes, were $200. Let x represent the number of tapes and let y represent the number of CDs sold during the sale.

Answers

Answer:

12 tapes and 20 CDs were sold.

Step-by-step explanation:

Since a music store had a sale on tapes and CDs, and tapes were on sale for $ 5 each and CDs were on sale for $ 7, and during the sale, 32 tapes and CDs were sold, and the cash receipts from the sale of the tapes and CDs, before taxes, were $ 200, to determine the number of CDs and tapes sold during the sale, the following calculation must be performed:

7 - 5 = 2

32 x 5 = 160

200 - 160 = 40

40/2 = 20

32 - 20 = 12

12 x 5 + 20 x 7 = X

60 + 140 = X

200 = X

Therefore, 12 tapes and 20 CDs were sold.

Approximately how long will it take a jet to travel 400 miles at a rate of 120
miles per hour?
A.) 3 1/3
B.)3 1/2
C.)4 1/2
D.)4 1/3

Answers

Answer:

3  1/3

Step-by-step explanation:

This is due today!
A weather station on the top of a mountain reports that the temperature is currently 0 degrees Celsius and has been falling at a constant rate of 3 degrees per hour. If it continues to fall at this rate, what will the temperature be in 2 hours, and in 5 hours

Answers

Answer:

in 2hrs =  -6°C

in 5hrs = -15°C

in half an hr = -1.5°C

Step-by-step explanation:

in an hr, the temperature falls by 3°C = 0 -3 = -3°C

in 2hrs = 2*-3°C = -6°C

in 5hrs = 5*-3°C = -15°C

in half an hr = 0.5 * -3°C = -1.5°C

Step-by-step explanation:

Answer:

Wouldnt the temperture go up or down.. if its going up when in 2 hours the temperture would be at 6 degree and for 5 hours its would be at  15 degrees.

Step-by-step explanation:

3+2 5+3

Simon pays $9 for 6 visits to swim at the community pool. He pays $18 for 12 visits to swim. How much does it cost for each visit to the pool?

Answers

Answer:

$1.50

Step-by-step explanation:

If you do cost per quantity you would get $9 over 6 visits. Then you divide both sides by 6 because to get to one by 6 it's 6 so when you divide both sides by 6 you would get 1.5 over 1 and all you do is add a zero because you're dealing with money

Hope this helps :)

10x ___ = 10
4/4 5/4 3/4

Answers

4/4 I think because 4/4 = 1

What is the value of C in the matrix equation below?
|-18 3 51-c-[-22 1 12
o -40
217]
01-40 27]
10142-7)
0 14 2 17]

Answers

Given:

The matrix equation is:

[tex]\begin{bmatrix}-18&3&5\end{bmatrix}-C=\begin{bmatrix}-22&1&12\end{bmatrix}[/tex]

To find:

The value of matrix C.

Solution:

Let [tex]A=\begin{bmatrix}-18&3&5\end{bmatrix},B=\begin{bmatrix}-22&1&12\end{bmatrix}[/tex]. Then the given equation can be rewritten as

[tex]A-C=B[/tex]

[tex]-C=B-A[/tex]

[tex]C=-(B-A)[/tex]

[tex]C=A-B[/tex]

On substituting the values of the matrices, we get

[tex]C=\begin{bmatrix}-18&3&5\end{bmatrix}-\begin{bmatrix}-22&1&12\end{bmatrix}[/tex]

[tex]C=\begin{bmatrix}-18-(-22)&3-1&5-12\end{bmatrix}[/tex]

[tex]C=\begin{bmatrix}-18+22&2&-7\end{bmatrix}[/tex]

[tex]C=\begin{bmatrix}-4&2&-7\end{bmatrix}[/tex]

Therefore, the correct option is C.

Answer: C

Step-by-step explanation: [ 4 2 -7 ]

V.
Simplify the expression using the distributive property.
14.
3(2x - 5)
I’m

Answers

Answer: 6x-15

Step-by-step explanation: 3 times 2x equals 6x and 3 times -5 equals 15, which makes 6x-15

Answer:

6x-15

Step-by-step explanation:

Distributive property means that you would be distributing.

So, 3 · 2x = 6x

3 · -5 = -15

You cannot simplify any further, so the final answer is 6x - 15.

Let me know if you need further clarification, and if this helped, feel free to award a Brainliest :P

A duck swims at a speed of 1 meter per second. How long does it take for it to cross a 50 meter wide pond?

Answers

Answer:

50 seconds.

Step-by-step explanation:

Hope this helps!

Answer:

50 seconds.

Step-by-step explanation:

If it takes 1 meter per second.

50 meter = 1 × 50 seconds

= 50 seconds.

I NEED ANSWERS WITH WORKOUT PLS ANYONE HELP

-giving brainlist

Answers

Answer:

1. -x+y

2. 3a -4b

3. 5g-3y+8

4.4g-4w

5.3x-4

6.1+2a

7. c

8. 6-3x-4y

9. -5h-3+3f

10. 0

b. simplify 2(x+3) +2(2x+7) to get

6x+20

c. 12x +6

srry for the wait :)

Step-by-step explanation:

Answer:

Step-by-step explanation:

A1) 4x-5x+3y-2y

=-x+y

=y-x

2) 2a-3b-b+a

=2a+a-3b-b

=3a-4b

3) 6g-g+8-3y

=5g-3y+8

4) 3g+g-3w-w

=4g-4w

5) 4x+3-x-7

=4x-x+3-7

=3x-4

6) 4t+1-4t+2a

=4t-4t+1-2a

=1-2a

7) 6c+2+2c-2-7c

=8c-7c

8) 6-2x-5y-x+y

=6-3x-5y+y

=6-3x-4y

9)4h+3-h+3f-9h-5+h-1

=-6h-3+3f

=3f-6h-3

10) 1-x+y-2x-2y-1+3x+y

=0

B) The perimeter

= (2x+7)2+(x+3)2

=4x+14+2x+6

=6x+20

C) The perimeter

=3x+3+3x+1+x+2+x+(3x+3-x-2)+(3x+1-x)

=3x+3+3x+1+x+2+x+3x+3-x-2+3x+1-x

=12x+8

please help me
A book is marked 21% off. If the original price is $23.42, what will the sale price be?

Round your answer to the nearest cent. Do not include units with your answer.

Answers

Answer:

$18.51

Step-by-step explanation:

23.42×.21= 4.91 then 23.42-4.91= your sale price which is $18.51

The factory building manager at Delectable Delights, Jason Short, is concerned that the new contractor he hired is taking too long to replace defective lights in the factory workspace. He would like to perform a hypothesis test to determine if the replacement time for the lights under the new contractor is in fact longer than the replacement time under the previous contractor, which was 3.2 days on average. He selects a random sample of 12 service calls to replace defective lights and obtains the following times to replacement (in days). Use a significance level of
0.05. 6.2 7.1 5.4 5.5 7.5 2.6 4.3 2.9 3.7 0.7 5.6 1.7
1. Define μ in the context of the problem and state the appropriate hypotheses. (5 pts)
2. Regardless of your results in Part B, calculate the appropriate test statistic by hand. Write out all your steps.
3. What is your decision regarding the null hypothesis? (In other words, do you reject or fail to reject and why?)
4. Write a final concluding statement to Jason giving the results of the hypothesis test. (In other words, write the final summary statement.)

Answers

Answer:

H0 : μ = 3.2

H1 : μ > 3.2

1.982

We fail to reject the Null ;

There is no significant evidence to conclude that the mean replacement time under the new contractor takes longer than the usual average time.

Step-by-step explanation:

μ = average time taken by the previous contractor. ; μ = 3.2

H0 : μ = 3.2

H1 : μ > 3.2

Sample size, n = 12 ;

X = 6.2 7.1 5.4 5.5 7.5 2.6 4.3 2.9 3.7 0.7 5.6 1.7

xbar = Σx / n = 53.2 / 12 = 4.43

Standard deviation, s ; using a calculator :

s = 2.15

B.)

The test statistic :

(xbar - μ) ÷ (s / sqrt(n))

(4.43 - 3.2) ÷ (2.15 / sqrt(12))

1.23 ÷ 0.62065

= 1.982

C.)

Decision Region :

If Pvalue < α ; Reject the null

α = 0.05

Pvalue :

P(x < 1.982) = 0.9762

0.9762 > 0.05 ; Hence, we fail to reject the Null

There is no significant evidence to conclude that the mean replacement time under the new contractor takes longer than the usual average time.

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