A person invests 3000 dollars in a bank. The bank pays 4% interest compounded quarterly. To the nearest tenth of a year, how long must the person leave the money in the bank until it reaches 6500 dollars?

Answers

Answer 1
p=amount put in
t=amount of time in years
%=growth rate
f(t)=total

f(t)=p(1+%)^t
6500=3000(1+.04)^t
Solve for t
6500/3000=(1.04)^t
*Logs*
Log (13/6) = 19.7138...
1.04
Rounded to nearest 10th

t = 19.7
Answer 2

Answer:19.4

Step-by-step explanation:

A=P(1+\frac{r}{n})^{nt}

A=P(1+  

n

r

​  

)  

nt

 

A=6500 \hspace{15px} P=3000 \hspace{15px} r=0.04 \hspace{15px} t=?

A=6500P=3000r=0.04t=?

n=4\text{ (quarterly)}

n=4 (quarterly)

6500=3000(1+\frac{0.04}{4})^{4t}

6500=3000(1+  

4

0.04

​  

)  

4t

 

6500=3000(1.01)^{4t}

6500=3000(1.01)  

4t

 

\frac{6500}{3000}=\frac{3000(1.01)^{4t}}{3000}

3000

6500

​  

=  

3000

3000(1.01)  

4t

 

​  

 

2.1666667=(1.01)^{4t}

2.1666667=(1.01)  

4t

 

\log(2.1666667)=\log((1.01)^{4t})

log(2.1666667)=log((1.01)  

4t

)

\log(2.1666667)=4t\log(1.01)

log(2.1666667)=4tlog(1.01)

Power Rule.

\frac{\log(2.1666667)}{4\log(1.01)}=\frac{4t\log(1.01)}{4\log(1.01)}

4log(1.01)

log(2.1666667)

​  

=  

4log(1.01)

4tlog(1.01)

​  

 

t=\frac{0.3357921}{0.0172855}

t=  

0.0172855

0.3357921

​  

 

t=19.42624\approx 19.4 \text{ years}

t=19.42624≈19.4 years


Related Questions

Determine triangle type?

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Answer:

scalene right

Step-by-step explanation:

all side are opposite and there is a 90% so that makes it right

Scalene right angled triangle

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y=1/2x-5 is the answer

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4300

6 is ones

1 is tens

3 is hundreds

4 is thousands

therefore the answer is 4300

If 4316 is rounded to the nearest 100 then its value will be, 4300

What is Rounding of a number ?

Rounding means making a number simpler but keeping its value nearby original value.

Rules for rounding nearest 100:-

1. If the number's final two digits are 50 or higher, we round it up to the next hundred.

2. If the number's final two digits are 49 or less, we round it down to the closest hundred.

3. If the final two numbers are 00, there is no need to round because the number is already one hundred.

We have given number, 4316

Number's final two digits are less than 49

Hence, The rounded value is 4300

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Answer:

∠KYR = 43 degrees

Step-by-step explanation:

1. We know that the entire angle equals to 90 degrees because it is a right angle.

First you have to find the value of c and to do this, you add the values of both angles and make it equal to 90

3c + 64 + 5c + 82 = 90]

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     - 146     -146

8c = -56

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Now we have to find the value of angle KYR so just plug in -7 for c

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Can get brainliest please?

Write the equation of the line that passes through the points (2,5) and (2,-6). Put
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Answer:
Submit Answer
attempt 1 out of

Answers


m = (y-y)/(x-x)
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why can we write 1/a^n=a^-n?

Answers

Answer:

Try to understand by substitute a number in a and n.

Step-by-step explanation:

For example,

a=2, n=1

a^n= 2^1= 2

[tex]\frac{1}{2}[/tex] = 0.5

2^(-1)=0.5

Step-by-step explanation:

[tex] \frac{1}{ {a}^{n} } = {a}^{ - n} [/tex]

~Math Induction

[tex] \: [/tex]

—Prove that n = 1

[tex] \frac{1}{ {a}^{1} } = {a}^{ - 1} [/tex]

[tex] \frac{1}{a} = \frac{1}{a} \to \sf proved[/tex]

[tex] \: [/tex]

—Prove that n = k

[tex] \frac{1}{{a}^{n}} = {a}^{n} [/tex]

[tex] \frac{1}{{a}^{k}} = {a}^{-k} , k \in \mathbb{R}[/tex]

[tex] \: [/tex]

—Prove that n = k + 1

[tex] \frac{1}{ {a}^{k + 1} } = {a}^{ - (k + 1)} [/tex]

[tex] \frac{1}{ {a}^{k + 1} } = {a}^{ - k} \times {a}^{ - 1} [/tex]

[tex] \frac{1}{ {a}^{k + 1} } = \frac{1}{ {a}^{k} } \times \frac{1}{ {a}^{1} } [/tex]

[tex] \frac{1}{ {a}^{k + 1} } = \frac{1}{ {a}^{k + 1} } \: \: \rm proved[/tex]

[tex] \: [/tex]

Proved that 1/a^n = a^-n

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Answers

Answer:1146.11111

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100,000 / 90 = 1111.11111

1111.11111+35 = 1146.11111

If it takes 6 men 4 days to dig a hole 3 metres deep, how long will it take 10 men to dig same hole 7 metres deep?

Answers

Step-by-step explanation:

6 men → 4 days → 3 metres

1 man → 24 days → 3 metres

1 man → 8 days → 1 metres

1 man → 56 days → 7 metres

10 men → 5.6 days → 7 metres

therefore, 5.6 days

Topic: direct n inverse proportions

If you like to venture further, do check out my insta (learntionary) where I constantly post math tips! Thanks!

Answer:

It will take 5.6 days for the 10 men to dig the same hole 7 m deep.

Step-by-step explanation:

Laying the data in column

----------------------------------------------------

6 men            3 m hole              4 days

10 men           7 m hole             x days

-----------------------------------------------------

As [tex]6[/tex] men dig a hole in [tex]4[/tex] days, so their rate will be:

[tex]rate\:=\:\frac{4}{3}[/tex]

Then  [tex]6[/tex] men would take [tex]7\times \frac{4}{3}=\frac{28}{3}[/tex] days to dig a hole of depth 7 m.

As we are letting 10 men do work, so they would

take [tex]\frac{6}{10}\times \frac{28}{3}=\frac{28}{5}[/tex] days.

so

[tex]\frac{6}{10}\times \frac{28}{3}=\frac{28}{5}[/tex]

             [tex]=5.6[/tex]   days

Therefore, it will take 5.6 days for the 10 men to dig the same hole 7 m deep.

The ratio of boys to girls in a group is 7:2. If there are 65 more boys than girls, work out how many boys there are.

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低于当地人民:或立场上有一些事情了!儿女情长的好了吗我想做出

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Answers

Answer:

If 60% of a number is 90.

Suppose that the number is N.

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for the second part, we have that:

% of a number is 180, what is the 150%?

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(A/100)*N = 180

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N = 180*(100/A).

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(150%/100%)*N

0.15*N = 0.15*180*(100/A). = 0.15*18,000/A = 2,700/A

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A tent is put up with 7 poles. How many tents can be put up with 200 poles?

Answers

Answer:

28

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200/7

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Plug in 3 for x
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Part A: so that no single branch has to much power

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With some species of bamboo, you can actually see them grow. You could observe 30 centimeters of growth in just 1 3 of a day. At what rate does this bamboo grow? Simplify your answer and write it as a proper fraction, mixed number, or whole number. centimeters per day

Answers

Answer:

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Step-by-step explanation:

Given that:

One of the Bamboo species growth can be seen.

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If we are given that:

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Growth per day = [tex]\frac{y}{x}[/tex]

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