"Use the formula A=P(1+r/n)ⁿt to solve the compound interest problem
Find how long it takes for $ 900 to double if it is invested at 6 % interest compounded monthly.
The money will double in value in approximately years."

"Use The Formula A=P(1+r/n)t To Solve The Compound Interest ProblemFind How Long It Takes For $ 900 To

Answers

Answer 1

After 11.61 years the given principal amount of $ 900 will be double.

What is Compound interest?  

Compound interest is interest charged on a loan and is determined by both the principal amount and the rate of interest compounding per year.

The formula for the Amount when compound interest is calculated is given by

                  Amount, A = P(1+r/n)^nt  

P = Principal amount

r = Rate of interest

n = Number of compounds

t = Time period in years

Given:

Principal amount = $ 900

Rate of interest = 6% = 6/100 = 0.06

Number of compounds = 12    [ ∵ compounded monthly]

We need to find the time period

Assume that after 't' years the amount will be doubled

From the given data and formula,

Amount, A = 900(1+0.06/12)^12t        

                  = 900(1+0.06/12)^12t

                  = 900(1 + 0.005)^12t

                  = 900 (1.005)^12t  

As we assumed after 't' years the amount is double

=> 900 (1.005)^12t  = 2 × 900

=>         (1.005)^12t  = 2    

Applying log on both sides

=>  log (1.005)^12t  = log 2

=>    12t log(1.005) = log 2

=>                     12t = log 2/log(1.005)

=>                     12t = 0.30108/ 0.00216  

=>                     12t = 139.888

=>                         t =  11.61

Hence, after  11.61 years the given principal amount of $900 will be double.

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Related Questions

Amanda is the manager of Gladrags. She just got a new shipment of jeans and is pricing them for the store to make money. Her invoice for the jeans
states that the jeans cost her store $20 per pair. Amanda marks the jeans up to sell for $55 per pair. Find the percent of change.
O 175% increase
O 175% decrease
O 17.5% increase
O 17.5% decrease

Answers

To find the percent of change, we need to calculate the difference between the original price and the new price, and then divide this difference by the original price and multiply by 100%.

The difference between the original price of $20 and the new price of $55 is $55 - $20 = $35.

The percent of change is: ($35/$20) * 100% = 1.75 * 100% = 175%

Since the new price is higher than the original price, this is an increase. Therefore, the percent of change is a 175% increase. The correct answer is therefore

O 175% increase.

There is a 175% Increase.

A book claims that more hockey players are born in January through March than in October through December. The following data show the number of players selected in a draft of new players for a hockey
league according to their birth month. Is there evidence to suggest that hockey players' birthdates are not uniformly distributed throughout the year? Use the level of significance a = 0.05.
Click the icon to view the table.
Click the icon to view the chi-square table of critical values.
What are the null hypothesis and alternative hypotheses?
OA. H₂: The distribution of hockey players' birth months is uniformly distributed.
H,: More hockey players are born in the first half of the year than the second half.
OB. H: The distribution of hockey players' birth months is uniformly distributed.
H,: More hockey players are born in January-March than October-December.
OC. H: The distribution of hockey players' birth months is not uniformly distributed
H,: The distribution of hockey players' birth months is uniformly distributed.
D. H.: The distribution of hockey players' birth months is uniformly distributed.
H,: The distribution of hockey players' birth months is not uniformly distributed.
Compute the expected counts for each birth month. The total number of hockey players is 188.
Expected Count
Birth Month
January-March
April-June
July-September
October-December
Observed Count
66
59
34
29
(Round to two decimal places as needed.)

Answers

The null hypothesis is a typical statistical theory which suggests that no statistical relationship and significance exists in a set of given single observed variable, between two sets of observed data and measured phenomena.

The required details for null hypothesis in given paragraph

The null hypothesis and alternative hypothesis in this case would be:

H₀: The distribution of hockey players' birth months is uniformly distributed.

H₁: The distribution of hockey players' birth months is not uniformly distributed.

The expected counts for each birth month can be calculated as follows:

Expected Count = (Total Number of Players) * (Proportion of Total Players for Each Birth Month)

Since there are 4 birth months and the distribution is assumed to be uniform, the proportion of total players for each birth month is 1/4 = 0.25. Therefore, the expected count for each birth month is:

Expected Count = 188 * 0.25 = 47

To test the null hypothesis, we can then calculate the chi-square statistic using the following formula:

χ² = ∑((O - E)² / E)

where O is the observed count, E is the expected count, and the sum is taken over all birth months.

Plugging in the observed and expected counts, we get:

χ² = ((66 - 47)² / 47) + ((59 - 47)² / 47) + ((34 - 47)² / 47) + ((29 - 47)² / 47)

= 3.87 + 2.04 + 3.87 + 5.57

= 15.35

In this case, df = 3.

Looking up the critical value in the chi-square table with df = 3 and a = 0.05, we find that the critical value is 7.815. Since the chi-square statistic (15.35) is greater than the critical value, we reject the null hypothesis and conclude that there is evidence to suggest that the distribution of hockey players' birth months is not uniformly distributed.

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you owe $31000 on student loans at an interest rate of 3.35% compounded monthly. You want to pay off the loan in 8 years. What will your monthly payments be? How much interest do you pay?

Answers

You owe $31000 on student loans at an interest rate of 3.35% compounded monthly.

The total interest paid would be $556.16.The monthly payment would be $318.54.

What is interest?

Generally, To calculate the monthly payment amount, you can use the following formula:

monthly payment = (interest rate / 12) x (loan balance / (1 - (1 + (interest rate / 12)) ^ (-term in months)))

Plugging in the values given in the question, the monthly payment would be:

monthly payment = (3.35% / 12) x ($31000 / (1 - (1 + (3.35% / 12)) ^ (-8 years x 12 months/year)))

= (0.00335) x ($31000 / (1 - (1 + 0.00335) ^ (-96)))

= $318.54

So the monthly payment would be $318.54.

To calculate the total interest paid over the course of the loan, you can use the following formula:

total interest = (monthly payment x term in months) - loan balance

Plugging in the values given in the question, the total interest paid would be:

total interest = ($318.54 x 96 months) - $31000

= $30,443.84 - $31,000

= $-556.16

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Hi i need this for noooow please

Answers

The y-intercept is the point the graph intersects the y-axis. It is represented by the constant c in the equation of a straight line graph, y = m·x + c

6. The y-intercept is 7

8. The y-intercept is 0

12 a. The error is taking the x-intercept as the y-intercept

b. Please find attached the graph of line with a y-intercept of 3 drawn with MS Excel

What is a straight line graph?

A straight line graph is the graph of a linear equation.

The slope-intercept form of the equation of a straight line graph is y = m·x + c, where;

m = The slope of the graph

c = The y-intercept

6 The y-intercept is the point the graph crosses the y-axis.

The line crosses the y-axis at the point (0, 7)

The y-intercept is 7

8. The point at which the graph crosses the y-axis is (0, 0)

The y-intercept, which is the point at which the graph crosses the y-axis, from the graph of question 8 is 0

12. The graph in the question is a straight line graph that passes through the points (3, 0), and (0, -4)

The x-intercept of the graph is 3

The y-intercept of the graph is -4

a. The possible error of the graph that is an example of a line with a y-intercept of 3 is therefore, mistaking the y-intercept for the x-intercept

b. Please find attached the graph of the line y = x + 3 that has a y-intercept of 3 drawn with MS Excel on the graph of the question with equation y = (4/3)·x - 4

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whats 0.00132 in scientific notation

Answers

It would be

1.32 x 10^-3

Answer:

1.32x10^-3

Step-by-step explanation:

hope it helps

Write each sequence as a function. {1,3,5,7,9,…}

Answers

Increases by 2 so
2n-1

To copy an angle using only a compass and a straightedge begin by marking the angle. Then draw a ray from the vertex which will be one of the legs of the new angle. What is the next step in the construction

Answers

Next step is to Mark off your new arc with this new width by positioning the compass point on the reference line where the previous arc crossed it.

Steps to be followed while measuring an exact angle using compass and straight edge are:

If a reference line is not given, draw one using a straightedge.Add a dot as the reference line's starting point.Position the compass's point at the vertex of the ABC angle (vertex at point

Swing the arc so that the pencil crosses BOTH rays (sides) of the angle. Holding the compass point at the starting point (dot) on the reference line, swing an arc that will cross the reference line and rise above the reference line without adjusting the compass's size. Return to the supplied angle ABC and determine the span (width) of the arc between the points at which it crosses one side of the angle and the other. Mark off your new arc with this new width by positioning the compass point on the reference line where the previous arc crossed it. Join this new intersection point to the reference line's starting point. Mark the duplicate.

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How many days of milking will it take to get enough milk to make all this cheese?

Answers

Answer:

depending on how much cheese you are trying to produce is the amount of milk you need

Find the probability P(E or F) if E and F are mutually exclusive, P(E)= 0.30, and P(F) = 0.47. The probability P(E or F) is (Simplify your answer.)

Answers

Given that P(E)= 0.30 and P(F)= 0.47, the probability of P(E or F) if E and F are mutually exclusive will be 0.77.

What is probability?

The area of mathematics known as probability deals with numerical representations of the likelihood that an event will occur or that a statement is true. An event's probability is a number between 0 and 1, where, roughly speaking, 0 denotes the event's impossibility and 1 denotes certainty. A probability is a numerical representation of the likelihood or chance that a specific event will take place. Both proportions ranging from 0 to 1 and percentages ranging from 0% to 100% can be used to describe probabilities.

Here,

P(E)=0.30

P(F)=0.47

P(E∩F)=0 as they are mutually exclusive

P(E∪F)=P(E)+P(F)-P(E∩F)

=0.30+0.47

P(E∪F)=0.77

The probability of P(E or F) if E and F are mutually exclusive will be 0.77 given that P(E)= 0.30, and P(F) = 0.47.

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I just need this Answer which is the thing I’m struggling on

Answers

The expressions that are equivalent to [tex]\frac{10}{9} + \frac{2}{9}m - \frac{4}{9}n[/tex] are [tex]\frac{2}{9}(5 + m -2n)[/tex] and [tex]-\frac{2}{9}( 2n -m -5)[/tex].

What is an Algebraic fraction?

Algebraic fractions are fractions using a variable in the numerator or denominator, such as . Because division by 0 is impossible, variables in the denominator have certain restrictions. The denominator can never equal 0.

    [tex]\frac{10}{9} + \frac{2}{9}m - \frac{4}{9}n[/tex] in this algebraic fraction 2/9 is common to all so factoring that out we have

2/9 x 5 + 2/9 x m - 2/9 x 2n so we factor out 2/9

2/9( 5 + m -2n)

This can also be written by multiplying 2/9( 5 + m -2n) by -1 so that it 5becomes

- 2/9(2n -5 - m)

In conclusion the expressions 2/9( 5 + m -2n) and - 2/9(2n -5 - m) are equivalent to [tex]\frac{10}{9} + \frac{2}{9}m - \frac{4}{9}n[/tex]

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What’s the answer anything helps

Answers

Answer: 135

Step-by-step explanation:

Since the expression gives you that n = 5, you'll plug 5 into every "n" within the original equation.

6n^2 -15 = 6(5)^2-15

You'll then square 5

= 6(5*5)-15

= 6(25)-15

= 150-15

= 135

Explain the steps you would use to solve this equation. Find the solution.
8^2z=4096

Answers

8^2z=4096
64z=4096
z=64

If g (x) = 4x + 6 and f(g(x))
12x + 8 than f(x)

Answers

Answer:

Given g(x)=4x+6

f(x)=12x+8

f(g(x))=f(4x+6)

=12(4x+6)+8 (substitute g(x) in f(x) )

=48x+72+8

= 48x+80

which of the following two pairs of sets have the same cardinality? question 9 options: natural numbers and irrational numbers integers and natural numbers real numbers and rational numbers irrational numbers and rational numbers

Answers

Natural numbers and irrational numbers are two pairs of sets that have the same cardinality.

It is sufficient to demonstrate the existence of a bijection between the set of real numbers R and the set of irrational numbers RQ in order to demonstrate that both have the same cardinality:

For each positive integer n, map n to 2n to produce a countable number of holes in R. Be aware that these countable holes are located at all irrational locations (2n-1), as well. R should be mapped to itself. R should be mapped to itself. Feel free to use your preferred irrational number in the above in place of [tex]\pi[/tex].

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Brett bought a house five years ago for $150,000. At that time he borrowed $140,000 from his bank. The house is now worth $162,000. The current value of his mortgage must be no higher than ________ for him to request termination of his PMI policy.
$126,360.
Once his equity has increased to 22% of the current market value, he can request that PMI be cancelled. He may request termination of PMI when his mortgage balance reaches $126,360 {$162,000 × (1 − 0.22)}.

Answers

The current value of his mortgage must be no higher than $126,360 for him to request termination of his PMI policy.

What is mortgage value?

The appraised value of the property used to determine the mortgage value is determined by a reputable firm. It might not match the purchase-sale value. The mortgage value, which serves as the Bank's guarantee, is the benchmark used in the mortgage application and arrangement process.

Given:

Brett bought a house five years ago for $150,000.

At that time he borrowed $140,000 from his bank.

The house is now worth $162,000.

Once his equity has increased to 22% of the current market value he can request that PMI be canceled.

He may request termination of request when his mortgage balance reaches

162,000(1 - 0.22) = 162,000(0.78) = 126,360.

Hence,  the current value of his mortgage must be no higher than $126,360 for him to request termination of his PMI policy.

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Find how long it takes a person to drive 260 miles on a highway if she merges onto a highway at 7 p.m. and drives nonstop with her cruise control set on 80 mph.

Answers

The time taken by the person to cover 260 miles will be 3 hours and 15 minutes.

What is speed?

Speed is defined as the ratio of the time distance travelled by the body to the time taken by the body to cover the distance. Speed is the ratio of the distance travelled by time. The unit of speed in miles per hour.

Given that a person to drive 260 miles on a highway if she merges onto a highway at 7 p.m. and drives nonstop with her cruise control set at 80 mph.

The amount of time taken by the person to cover the distance of 260 miles with a speed of 80mph is,

Speed = Distance / Time

Time = Distance / Speed

Time = 260 / 80

Time = 3.25 or 3 hours 15 minutes

Therefore, the time taken by the person to cover 260 miles will be 3 hours and 15 minutes.

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Can the following represent a function? Explain
(2,5) (3,5)(4,5)(5,5)

Answers

Answer:

Yes

Step-by-step explanation:

If you graphed that, it would be a horizontal line. Which is a function. If it is a vertical line, then it is not.

Norah Johns has foreign source income of $30,000 during the current year.As the foreign jurisdiction withholds 25% of such income,she only receives $22,500 What is the non business and business income of Norah Johns?

Answers

The answer is in simplest form is 672.

What is simplest form?

The simplest form is the  smallest possible equivalent of the fraction of the number. Steps for finding to  the simplest form: Search  for the common factors in to the numerator and the denominator. Check whether one of the numbers  in the fraction is a prime for  number.

As per the given question the number are

910

238

We have to find 910-238

So,

910-238

We have to calculate sum or difference

And we got 672.

Thus, the answer is 672 or 6.72×10^2 ( in alternate form).

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A superball is dropped from a height of h feet and left to bounce forever. The rebound ratio of the ball is r. In terms of r and h. find the formula for the total time needed for all this bouncing to take place.

Answers

Answer:

a b c or d?

Step-by-step explanation:

Answer: If a superball is dropped from a height of h feet and left to bounce forever, the total time needed for all this bouncing to take place can be represented by the formula:

t = h / (r - 1)

where t is the total time, h is the height from which the ball is dropped, and r is the rebound ratio of the ball.

The rebound ratio of the ball is the fraction of the ball's initial height that it bounces back up after each bounce. For example, if a ball has a rebound ratio of 0.5, it will bounce back up to half its initial height after each bounce.

The total time needed for the ball to bounce forever is equal to the height from which the ball is dropped divided by the difference between the rebound ratio and 1. This is because the ball will bounce back up a fraction of its initial height after each bounce, and the total time needed for all the bounces to take place is determined by the difference between the height of the ball and the fraction of the height that it bounces back up.

Look at photo for problem

Just need chart filled out

3. y=-(x+2)²+1

Answers

Following values can be filled in the table:

(0,-3), (-1,0), (1,-8), (-2,1), (2,-15)

It can be solved using the concept of graph plotting and function.

What is graph?

When a set of points are connected together to form a strcture then the structure is known as graph. The set of ponts is known as ordered pair.

Consider the eqution.

[tex]y=-(x+2)^2+1[/tex]

Substitute the simplest value x = 0 and find the value of y.

[tex]y=-(0+2)^2+1\\=-3\\[/tex]

Now, substitute x = -1 and find the value of y.

[tex]y=-(-1+2)^2+1\\=0\\[/tex]

Now, substitute x = 1 and find the value of y.

[tex]y=-(1+2)^2+1\\=-8\\[/tex]

Now, substitute x = -2 and find the value of y.

[tex]y=-(-2+2)^2+1\\=1\\[/tex]

Now, substitute x = 2 and find the value of y.

[tex]y=-(2+2)^2+1\\=-15\\[/tex]

Hence, following values can be filled in the table:

(0,-3), (-1,0), (1,-8), (-2,1), (2,-15)

It can be solved using the concept of graph plotting.

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[tex]2\frac{5}{7}g+3\frac{3}{5} g[/tex]

Answers

The solution of the fraction is 6 11/35.

What is fractions?A fraction, such as one-half, eight-fifths, or three-quarters, indicates the number of components of a particular size as it is represented in common English. A common, vulgar, or simple fraction is one that has a non-zero denominator shown below (or after) the line that separates the numerator from the denominator. Compound fractions, complicated fractions, and mixed numeral fractions are examples of uncommon fractions that use numerators and denominators.The numerator and denominator of positive common fractions are both natural integers. The denominator shows how many of the numerator's equal parts make up a unit or whole, and the numerator reflects the number of equal parts. Since there can never be zero components in a whole, the denominator cannot be zero.

Covert mixed numbers to improper fractions:

[tex]2\frac{5}{7}g=\frac{19}{7}g[/tex]

[tex]3\frac{3}{5}g=\frac{18}{5}g[/tex]

factor out common term g:

=[tex]g(\frac{19}{7} +\frac{18}{5})\\g(\frac{221}{35})[/tex]

Convert improper fractions to mixed numbers:

[tex]=\frac{221}{35}g \\\\=6\frac{11}{35} g[/tex]

Hence, The solution of the fraction is 6 11/35.

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A school dance committee is to consist of 2 freshmen, 3 sophomores, 4 juniors, and 5 seniors. If 7 freshmen, 9 sophomores, 7 juniors, and 7 seniors are eligible to be on the committee, in how many ways can the committee be chosen?

Answers

There are 3457440 ways combination in which this dance committee can be formed.

What is permutation and combination?

A set of items can be divided into subsets in two different ways: combination and permutation. The subset's components can be listed in any order when combined. The components of the subset are arranged in a particular order in a permutation.

2 freshmen out of 7 freshmen can be chosen in ⁷C₂ ways.

3 sophomores out of  9 sophomores can be chosen in ⁹C₃  ways.

4 juniors out of 7 juniors can be chosen in ⁷C₄ ways.

5 seniors out of 8 seniors can be chosen in ⁸C₅ ways.

⁷C₂ × ⁹C₃ × ⁷C₄ ×  ⁸C₅  ways, the dance committee of 2 freshmen, 3 sophomores, 4 juniors, and 5 seniors can be chosen.

= 7!/(7-2)!2! × 9!/(9-3)!3! × 7!/(7-4)!4! × 8!/(8-5)!5!

= 7!/5!2! × 9!/6!3! × 7!/3!4! × 8!/3!5!

= 21×84×35×56.

= 3457440 ways.

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Given x=a+b. Use the Pythagorean Theorem to find the value of x.

Answers

[tex]a=\sqrt{5^2-4^2}=3 \\ \\ b=\sqrt{5^2-4^2}=3 \\ \\ \therefore x=3+3=\boxed{6}[/tex]

The entrance fee for a theme park is $20. Tickets for each ride and attraction are $3 a piece. Which of the following equations describes the relation between the total cost (Y) and the number of tickets purchased (X) in a single visit to the park?
a. Y = 3+ 20X
b. Y = 60X
c. Y = 20 +3X
d. X = 20 +3Y
Answer: c. Y = 20 +3X

Answers

The system of equation that describes the relation between the total cost (Y) and the number of tickets purchased (X) in a single visit to the park is Y = 3X + 20 i.e, option (C)

Define System of Equation

A set of simultaneous equations, also known as a system of equations or an equation system, is a finite set of equations for which common solutions are sought.

Given,

Cost of theme park is = $20

Tickets for each ride and attraction are = $3 a piece

Number of tickets purchased = X

So, total cost of tickets is = 3 * X

Total cost of visit to the theme park is = Y

So, the equation we get

Y = 3X + 20

Hence, the system of equation that describes the relation between the total cost (Y) and the number of tickets purchased (X) in a single visit to the park is Y = 3X + 20 i.e, option (C).

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Tamala’s school day is 7 1/2 hours. She has six classes that are 7/6 of an hour long each. How many hours is Tamala not in class while she is at school?

Answers

By simplifying and solving, Tamala is not in class while she is at school is 0.5 hour.

What is Algebraic simplification?

Algebraic simplification is the process of rewriting an algebraic expression in a simpler form, without changing its value.

What is algebra?

Algebra is a branch of mathematics that involves the use of letters and symbols to represent unknown quantities, known as variables, in equations and formulas.

Tamala is in class for 6 * (7/6) = 7 hours.

Tamala is not in class for 7(1/2) - 7 = 1/2 hours.

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The average ticket price for several NFL teams is listed below.
Seahawks =$84.60
Packers= 89.37
Jets= $105.66
Cowboys= 110.20
Lions = $79.16
how much more would it cost a family of 5 to get the jets game ($105.66) than a Lions game ($79.19?

Answers

It would cost a family of 5 $132.35 more to get the jets game than a Lions game

How to determine how much more it would cost a family of 5 to get the jets game than a Lions game?

Given that:

The average ticket price for Jets game = $105.66

The average ticket price for Lions game = $79.19

Jets game for a family of 5 will be:

Jet game cost = 5× $105.66 = $528.3

Lions game for a family of 5 will be:

Lions game cost = 5× $79.19 = $395.95

Difference = $528.3 - $395.95 = $132.35

Therefore, it would cost a family of 5 $132.35 more to get the jets game

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In need of help!! Determine if the equation given in slope-intercept form represents the graph. If the equation is correct support your reasoning with why it is correct. If the equation is incorrect, give the correct slope-intercept form equation explaining how you determined it.

Answers

The equation is accurate. A line's slope and y-intercept are expressed in the form y is mx + c, where m is the slope and c is the y-intercept.

What does a line's slope-intercept form look like?

A line's slope and y-intercept are expressed in the form y = mx + c, where m is the slope and c is the y-intercept.

y = (3/2)x + 1 is the given equation for the line.

Add x = 0 to the above equation, y = (3/2)(0) + 1 y = 1, to determine the line's y-intercept.

Take note that the line's graph's y-intercept is also 1.

The line's graph includes points (2,4).

Put the coordinates of the location into the above equation to see if it matches the coordinates of (2,4) or not:

4 = (3/2)(2) + 1

4 =4

The equation is accurate.

Consequently, it can be claimed that the following equation reflects the graph.

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can someone help me with this thank you

Answers

Answer:

25.

Step-by-step explanation:

1. if according to the condition 'm∠2 is three times m∠1', then it is possible to write: 3m∠1=m∠2, then

2. if according  to  the condition m∠WXZ=m∠1+m∠2, then it is possible to write it as:

m∠WXZ=m∠1+3m∠1; ⇔m∠WXZ=4*m∠1;

3. if according to the condition m∠WXZ=100, then

100°=4*m∠1, then

m∠1=100°:4=25°.

given f(x) =-2x-5 find (-1)

Answers

Answer:

f(-1) = -3

Step-by-step explanation:

f(x) =-2x-5

f(-1) = -2(-1)-5  ==> plug in -1 for x

f(-1) = 2-5

f(-1) = -3

Put -1 for x

Evaluate
2-5

Solution
-3

Johnny oeders 5 cheese pizzas and 6 pepperoni pizzas for his son's birthday party. He paid $136. Mid party he realized he was going to run out of pizzaz, so he decided to place a second order. This time johnny ordered 2 cheese pizzas and 2 pepperoni pizzas and paid $49.00. Write a linear system that could be used to find the cost of each type of pizza?

Answers

Step-by-step explanation:

Let x = cost of cheese pizza

Let y = cost of pepperoni pizza

x + 6y = 136

2x + 2y = 49

Solve the system:

x = $14

y = $15

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