![caplode7497](/avatars/42761.jpg)
caplode7497
07.10.2019 •
Mathematics
Amy invested $5,600 in a cd that pays eight percent compounded quarterly. how many years will it take before the cd is worth 8,228.24
Solved
Show answers
More tips
- C Computers and Internet Dropbox: What is it and How to Use it...
- H Health and Medicine How to Increase Hemoglobin in the Blood...
- A Animals and plants How to Store Carrots: Tips for Homeowners...
- L Legal consultation Juvenile Justice: Who Needs It?...
- F Family and Home How to Choose the Best Diapers for Your Baby?...
- F Family and Home Parquet or laminate, which is better?...
- L Leisure and Entertainment How to Properly Wind Fishing Line onto a Reel?...
- L Leisure and Entertainment How to Make a Paper Boat in Simple Steps...
- T Travel and tourism Maldives Adventures: What is the Best Season to Visit the Luxurious Beaches?...
- H Health and Medicine Kinesiology: What is it and How Does it Work?...
Answers on questions: Mathematics
- M Mathematics Refer to the following illustration to answer this question. the center of a circle is at (−3, 1) and its radius is 9. what is the equation of the circle?...
- M Mathematics Which of the following is NOT a correct definition of the break-even point? Multiple Choice the point where total contribution margin equals total fixed expenses. the point where...
- M Mathematics Dannette and Alphonso work for a computer repair company. They must include the time it takes to complete each repair in their repair log book. The dot plots show the number of...
- M Mathematics Ill give a brainliest someone hel...
- C Computers and Technology You defined a book data type. class book: title = author = pages = 0 Then, you created an instance of your book. myBook = book() Which statement assigns a value to the title?...
- E Engineering Una pequeña compañía desea ahorrar dinero, de manera que en 3 años habrá ahorrado para comprar un nuevo sistema de computadoras que cuestan 12,000.00, Si la compañía deposita...
- B Business The firm was organized and the initial stockholders invested cash of $480. The company borrowed $720 from a relative of one of the initial stockholders; a short-term note was...
- H History President franklin d. roosevelt s speaking trips around the nation and radio broadcasts designed to promote his programs are an example of the presidential tactic often referred...
Ответ:
It will take 4.858 years before the CD worth 8228.24
Step-by-step explanation:
* Lets revise the compound interest
- The formula for compound interest, including principal sum, is:
A = P (1 + r/n)^(nt)
- Where:
• A = the future value of the investment/loan, including interest
• P = the principal investment amount (the initial deposit or loan amount)
• r = the annual interest rate (decimal)
• n = the number of times that interest is compounded per unit t
• t = the time the money is invested or borrowed for
- To find the time you can use the formula
t = ln(A/P) / n[ln(1 + r/n)]
* Lets solve the problem
∵ P = $5600
∵ A = 8228.24
∵ r = 8/100 = 0.08
∵ n = 4
- Substitute all of these values in the equation of t
∴ t = ln(8228.24/5600) / 4[ln(1 + 0.08/4)] = 4.858 years
* It will take 4.858 years before the CD worth 8228.24
Ответ:
Parallel slope: 2/3
Perpendicular slope: -3/2