Edgar accumulated $7,000 in credit card debt. If the interest rate is 50% per year and he does not make any payments for 5 years, how much will he owe on this debt in 5 years by compounding continuously?

Answers

Answer 1

Using the continuously compounded interest formula, the amount of debt owed after 5 years is $ 8988.18

What is continous compounding interest formula?

The continuous compounding interest formula is given by P = Peⁿˣ where

P = final amount after time, t, P' = initial amount n = interest rate and x = time

Since Edgar accumulated $7,000 in credit card debt. If the interest rate is 50% per year and he does not make any payments for 5 years, how much will he owe on this debt in 5 years by compounding continuously? To determine that, we use the continuously compounded interest formula.

Given that

P' = $7000n = 50% per year = 0.5 per year andx = 5 years

Substituting the values of the variables into the equation, we have that

P = Peⁿˣ

P = $7000e⁰°⁵ ˣ ⁵

P = $7000e⁰°²⁵

P = $7000(1.28)

P = $ 8988.18

So, the amount of debt owed is $ 8988.18

Learn more about continuously compounded interest here:

https://brainly.com/question/30446525

#SPJ1


Related Questions

How do I help my student understand this?

Answers

Cell 1 is in the "7th grade" row and "Pets" column. Have your student circle these labels or highlight them. Then it should be clear why choice E is the final answer.

Another way to rephrase it: the 35 people in cell 1 represent the number of 7th graders with pets.

The Celluloid Collar Corporation has $120,000 in tax loss carryforwards. The Bowstring Shirt Company, a firm in the 21% tax bracket, would be willing to pay (on a non-discounted basis) the sum of _________ for Celluloid Collar Corporation’s carryforward alone.

Group of answer choices

$18,000

$25,200

$44,100

$20,000

Answers

The Bowstring Shirt Company, a firm in the 21% tax bracket, would be willing to pay (on a non-discounted basis) the sum of $25,200  for Celluloid Collar Corporation’s carryforward alone.

What is the non-discounted  sum?

The value of Celluloid Collar Corporation's tax loss when it is said to be carryforward to Bowstring Shirt Company will be be calculated  using the steps below

Value = Tax Loss Carryforward x Tax Rate

Value = $120,000 x 21%

        = $25,200

Therefore, Bowstring Shirt Company have to pay $25,200 for Celluloid Collar Corporation's tax loss to  be carryforward.

Learn more about non-discounted  sum from

https://brainly.com/question/30532309

#SPJ1

Factor the expression. x^2-14x-32

Answers

Answer:

[tex](x-2)(x+16)[/tex]

Step-by-step explanation:

Use graphing calculator and find the x-intercepts.

An employee at a department store is stocking cell phone cases. He has a box of 80 cases. Among the 80 cases, 40 are black, 10 are white, and 30 are pink. If he reaches into the bag randomly and removes one at a time, what is the probability that the first three cases are all pink? Please help I have no clue how to do this at all. I listen in math class but this is hard!

Answers

The probability of drawing a pink case on the first draw is 30/80.

What is probability?

Probability is a branch of mathematics that deals with the measurement and analysis of random phenomena. It is the study of the likelihood or chance of an event occurring. It involves analyzing and predicting the likelihood of certain outcomes based on the available information and the rules of probability theory. Probability is used extensively in various fields, including statistics, physics, finance, engineering, and computer science, among others.

In the given question,

The probability of drawing a pink case on the first draw is 30/80. Since the cases are not replaced, the probability of drawing a pink case on the second draw is 29/79 (there are now 29 pink cases left out of 79 total cases). Similarly, the probability of drawing a pink case on the third draw is 28/78. Therefore, the probability of drawing three pink cases in a row is:

(30/80) * (29/79) * (28/78) = 0.0412 or about 4.12%.

So, the probability that the first three cases are all pink is 0.0412 or about 4.12%.

To know more about probability, visit:

https://brainly.com/question/11234923

#SPJ1

CAN SOMEONE PLEASE HELP me with the correct answer!!!!! I need this done please help like please

Answers

answer: 164 degrees

reasoning: circle = 360 degrees
360-115= 245
245-81= (164 degrees)

For each graph below, state whether it represents a function. I don’t know if I got them right

Answers

Answer:

Step-by-step explanation:

Use the vertical line test. If you can draw a vertical line that cuts more than one point then the graph is not a function.

The only one that is incorrect is graph 4. It is a function (no vertical line will cut the graph more than once).

Which expression represents the volume of a shipping box? s(2^3) (8 + 2)3 (8x2)3 8+23

Answers

As a result, the right response is s(23), which can be written as [tex]8s^3[/tex] as to calculate a shipping box's volume is based on the box's dimensions.

what is volume ?

A tri object's volume is a measurement of how much space it takes up. The usual measurement tool is a cubic unit, such as a cubic metre (m3) or cubic foot (ft3). The formula used to determine a solid item's volume depends on the shape of the object. For instance, the volume of a cube is determined by multiplying the length of a single of its sides by six, whereas the capacity of a cylinder is determined by dividing the area of its base by the diameter. Engineering, mathematics, and architecture are just a few of the disciplines where the idea of volume is crucial.

given

The formula used to calculate a shipping box's volume is based on the box's dimensions.

The box's volume can be expressed as follows if its side length is s:

[tex]V = s^3[/tex]

As a result, the right response is s(23), which can be written as [tex]8s^3[/tex] as to calculate a shipping box's volume is based on the box's dimensions.

To know more about volume visit :-

https://brainly.com/question/1578538

#SPJ1

A charity needs to report its typical donations received. The following is a list of the donations from one week. A histogram is provided to display the data.

10, 11, 35, 39, 40, 42, 42, 45, 49, 49, 51, 51, 52, 53, 53, 54, 56, 59

A graph titled Donations to Charity in Dollars. The x-axis is labeled 10 to 19, 20 to 29, 30 to 39, 40 to 49, and 50 to 59. The y-axis is labeled Frequency. There is a shaded bar up to 2 above 10 to 19, up to 2 above 30 to 39, up to 6 above 40 to 49, and up to 8 above 50 to 59. There is no shaded bar above 20 to 29.

Which measure of variability should the charity use to accurately represent the data? Explain your answer.

The range of 13 is the most accurate to use, since the data is skewed.
The IQR of 49 is the most accurate to use to show that they need more money.
The range of 49 is the most accurate to use to show that they have plenty of money.
The IQR of 13 is the most accurate to use, since the data is skewed.

Answers

The most appropriate measure of variability to use in this case is the IQR (Interquartile Range) of 13.

How to determine which measure of variability should the charity use to accurately represent the data

The reason for this is that the data appears to be skewed towards the higher values, with more donations in the higher range (from 40 to 59 dollars) and fewer in the lower range (from 10 to 39 dollars).

Using the range (which is the difference between the highest and lowest values) would not accurately represent the variability of the data, as it would be heavily influenced by the outliers. On the other hand, the IQR, which is the range of the middle 50% of the data, is a more robust measure of variability that is not influenced by outliers. Therefore, the IQR of 13 is the most appropriate measure of variability to use in this case.

Learn more about measure of variability at https://brainly.com/question/14544205

#SPJ1

I need help with this econ question. Thank you.

Answers

Answer:

c + 3.6 + 3.4 + 4.1 + 2.3 = 18.6

c + 13.4 = 18.6

c = 5.2

$5.2 trillion was spent on consumption.

Wendy is customizing shirts for the debate team. She can choose from 8 styles, 7 colors, and 7 collars. How many different shirts is it possible for Wendy to customize?

Answers

Answer:

392 conbinations

Step-by-step explanation:

multiply all 3 numbers to find conbinations.

      8x7x7

=56x7(or 49x8)

=392

its prob wrong cuz i guessed so yeah

Leslie invests in a bank account that earns interest compounded quarterly. The expression 500(1.026)4t can be used to find the account balance in t years.

Part A
What was Leslie’s initial investment?

$

Part B
What is the quarterly interest rate the account earns?

Answers

Leslie's initial investment was $500 and the quarterly interest rate the account earns is 10.4%.

To find the initial investment and quarterly interest rate we can use the following compound formula of

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

Given expression =[tex]500(1.026)^{4t}[/tex]

principal P = $500

rate of interest r = 1.026

A) Leslie's initial investement A = [tex]500 (1.026) ^{0}[/tex] = 500        [ initially time t = 0]

B) for finding quarterly interest,

given expression =[tex]500(1.026)^{4t}[/tex]

                             =[tex]500(1 + 0.026)^{4t}[/tex]

                             = [tex]500(1 + 0.026 * 4/4)^{4t}[/tex]

                             = [tex]500(1 + \frac{0.104}{4} )^{4t}[/tex]

From the above expression, we can conclude that the quarterly interest is 0.104 which is 10.4%

To know more about interest,

https://brainly.com/question/25720319

#SPJ1

Hawk thinks his heartrate will increase as he increases his skateboarding speed. To see if this relationship exists, he records six different speeds and models it with a scatterplot and regression output.

A scatterplot is shown with the x axis labeled Speed, miles per hour, and the y axis labeled Pulse, beats per minute. The points on the graph increase from 9.5 and 68 to 15.8 and 116.


Regression Statistics
Multiple R 97.28153%
R Square 94.63696%
Adjusted R Square 93.29620%
Standard Error 4.806846736
Observations 6


df SS MS F
Regression 1 1,630.910231 1,630.910231 70.58453
Residual 4 92.42310217 23.10577554
Total 5 1,723.333333


Coefficients Standard Error t Stat p-Value
Intercept 1.301246992 10.66036651 0.122064001 0.908735
Speed 7.315685846 0.870763656 8.401459797 0.001098


Part A: Write the equation of the regression line using the regression output. (2 points)

Part B: What do the slope and intercept parameters mean using the context of the problem? (4 points)

Part C: Compute the margin of error that Hawk should use if he wants to provide a 99% confidence interval for the slope. Assume that conditions for inference are satisfied. (4 points)

Answers

Part A:
The equation of the regression line can be written as:
Pulse = 1.301 + 7.316 × Speed

Part B:
The slope of the regression line (7.316) represents the change in pulse (in beats per minute) that is associated with a one-unit increase in speed (in miles per hour). In other words, for every 1 mile per hour increase in speed, Hawk's pulse is expected to increase by approximately 7.316 beats per minute, on average.

The intercept of the regression line (1.301) represents the estimated pulse rate (in beats per minute) when the speed is zero. However, in the context of the problem, it does not have a meaningful interpretation because it is not possible to achieve zero speed in skateboarding.

Part C:
The margin of error for a 99% confidence interval for the slope can be calculated using the formula:

Margin of Error = t-value × Standard Error

where the t-value is the critical value from the t-distribution with n-2 degrees of freedom and α/2 = 0.005 (since we want a 99% confidence interval).

From the regression output, we have:

n = 6 (number of observations)
Standard Error = 4.806846736

The degrees of freedom for the t-distribution is n-2 = 4. Using a t-table or calculator, the critical value for a 99% confidence interval with 4 degrees of freedom is approximately 4.604.

Therefore, the margin of error is:

Margin of Error = 4.604 × 4.806846736 = 22.102

The 99% confidence interval for the slope is:

7.316 ± 22.102

or

(-14.786, 29.418)

Therefore, with 99% confidence, we can say that the true slope of the relationship between pulse and speed is within the interval (-14.786, 29.418).
Final answer:

The equation of the regression line is Pulse = 1.301 + 7.316 * Speed. The slope parameter represents how pulse rate changes with skateboarding speed. The margin of error for a 99% confidence interval for the slope is 2.517.

Explanation:

Part A: The equation of the regression line can be written as: Pulse = 1.301 + 7.316 * Speed

Part B: The slope parameter of 7.316 means that for every 1 unit increase in skateboarding speed, the pulse rate increases by an average of 7.316 beats per minute. The intercept parameter of 1.301 represents the pulse rate at a speed of 0 miles per hour (which doesn't have a specific meaning in this context).

Part C: To compute the margin of error for a 99% confidence interval for the slope, we use the formula: margin of error = critical value * standard error. The critical value for a 99% confidence interval is approximately 2.896. Plugging in the values, we get margin of error = 2.896 * 0.870 = 2.517 (rounded to three decimal places).

Learn more about Regression analysis here:

https://brainly.com/question/31873297

#SPJ2

Please help me!

Sloan keeps quarters and dimes in a jar, he just counted and has $23.45. If Sloane has 52 dimes in the jar, how many quarters does he have?

Answer in standard form, NEED EQUATION

x =
y =

Answers

Sloan has 73 quarters and 52 dimes kept in the jar

What is an equation?

An equation is an expression that shows how numbers and variables using mathematical operators.

Let x represent the number of quarters in the jar.

1 dime = $0.10, and 1 quarter = $0.25

Hence:

He counted $23.45, of which he had 52 dimes, hence:

0.10(52) + 0.25x = 23.45

5.2 + 0.25x = 23.45

x = 73

Sloan has 73 quarters

Find out more on equation at: https://brainly.com/question/25976025

#SPJ1

If the function y=e−2x is vertically compressed by a factor of 3, reflected across the y-axis, and then shifted down 2 units, what is the resulting function? Write your answer in the form y=ceax+b

Answers

The resulting function is given as follows:

[tex]y = \frac{e^{2x}}{3} - 2[/tex]

How to obtain the resulting function?

The parent function in the context of this problem is given as follows:

[tex]y = e^{-2x}[/tex]

When the function is vertically compressed by a factor of 3, we have that it is divided by three on the range, hence:

[tex]y = \frac{e^{-2x}}{3}[/tex]

When the function is reflected across the x-axis, we multiply by -1 on the domain, hence:

[tex]y = \frac{e^{2x}}{3}[/tex], as -2x x -1 = 2x.

When it is shifted down two units, we subtract by two on the range, hence:

[tex]y = \frac{e^{2x}}{3} - 2[/tex]

More can be learned about functions at https://brainly.com/question/2456547

#SPJ1

Consider the function.

f(x)=2log5(x−2)+1

On what interval is the function positive?

Enter your answer in the box. Round to the nearest hundredth.

Answers

The function is positive when its output, f(x), is greater than zero.

2log5(x−2)+1 > 0

2log5(x−2) > -1

log5(x−2) > -1/2

x - 2 > 5^(-1/2)

x - 2 > 0.4472

x > 2.4472

Therefore, the function is positive when x is greater than 2.4472.

The interval on which the function is positive is (2.45, infinity).

If $4,500 is invested at an interest rate of 5.25% per year, compounded continuously, find the value of the investment after the given number of years. (Round your answers to the nearest cent.)

(a) 4 years

(b) 8 years

(c) 12 years

Answers

a) The value of the investment after 4 years is $5,544.90.

b) The value of the investment after 8 years is $6,849.42.

c) The value of the investment after 12 years is $8,453.35.

The formula for calculating the value of an investment that is compounded continuously is given by:

A = [tex]Pe^{(rt)[/tex]

where A is the final value of the investment, P is the initial investment amount, e is the mathematical constant approximately equal to 2.71828, r is the annual interest rate expressed as a decimal, and t is the time period in years.

(a) To find the value of the investment after 4 years, we can substitute the given values in the formula as follows:

A = 4500[tex]e^{(0.05254)[/tex]

A = 4500[tex]e^{0.21[/tex]

A = 45001.2322

A = $5,544.90

(b) To find the value of the investment after 8 years, we can substitute the given values in the formula as follows:

A = 4500[tex]e^{(0.05258)[/tex]

A = 4500[tex]e^{0.42[/tex]

A = 45001.5221

A = $6,849.42

(c) To find the value of the investment after 12 years, we can substitute the given values in the formula as follows:

A = 4500[tex]e^{(0.052512)[/tex]

A = 4500[tex]e^{0.63[/tex]

A = 45001.8785

A = $8,453.35

To learn more about interest click on,

https://brainly.com/question/23092865

#SPJ1

Find the distance between the two points (3,−2) and (2,6) .



Simplify your answer, and write the exact answer in simplest radical form for an irrational answer. For example, 2–√= sqrt(2) .

Answers

Answer:

[tex] \sqrt{( {3 - 2)}^{2} + {( - 2 - 6)}^{2} } [/tex]

[tex] \sqrt{ {1}^{2} + {( - 8)}^{2} } [/tex]

[tex] \sqrt{1 + 64} = \sqrt{65} [/tex]

Suppose that the length of the three sides of a right triangle are consecutive whole numbers. What is the length of the longest leg?

Answers

The length of the longest leg in the right triangle is 5 units

What is the length of the longest leg?

Let x be the length of the shortest leg. Then the other leg has length x + 1, and the hypotenuse has length x + 2.

By the Pythagorean Theorem, we have:

x^2 + (x + 1)^2 = (x + 2)^2

Set x = 3

So, we have

3^2 + (3 + 1)^2 = (3 + 2)^2

Evaluate

25 = 25

The above equation is trie

So, we have

Longest = x + 2

Longest = 3 + 2

Evaluate

Longest = 5

Read more about right triangle at

https://brainly.com/question/2437195

#SPJ1

Suppose that the function f is defined as follows.

Answers

Answer:

Step-by-step explanation:

Use properties to rewrite the given equation. Which equations have the same solution as 2.3p – 10.1 = 6.5p – 4 – 0.01p? Select two options. 2.3p – 10.1 = 6.4p – 4 2.3p – 10.1 = 6.49p – 4 230p – 1010 = 650p – 400 – p 23p – 101 = 65p – 40 – p 2.3p – 14.1 = 6.4p – 4

Answers

The two equations that have the same solution as 2.3p – 10.1 = 6.5p – 4 – 0.01p include the following:

B. 2.3p – 10.1 = 6.49p – 4

C. 230p – 1010 = 650p – 400 – p

How to determine the required equations?

From the information provided, we have the following equation:

2.3p – 10.1 = 6.5p – 4 – 0.01p

Next, we would simplify the given equation by collecting like terms as follows;

2.3p - 10.1 = 6.5p - 0.01p - 4 = 6.49p - 4

2.3p - 10.1 = 6.49p - 4

What is the multiplication property of equality?

In Mathematics, the multiplication property of equality states that both sides of an equation will remain the same and equal, when both sides of the equations are multiplied by the same number.

By multiplying both sides of the given equation by 100, we have the following;

100 × (2.3p - 10.1) = 100 × (6.5p - 4 - 0.01p)

230p - 1010 = 650p - 400 - p

Read more on multiplication property of equality here: brainly.com/question/17565345

#SPJ1

please help
What is the distance to the earth’s horizon from point P?

Enter your answer as a decimal in the box. Round only your final answer to the nearest tenth.

x =
mi

Answers

The measure of distance x, that is, the distance between a point P and the point of horizon, is equal to 284.372 miles.

How to find the distance to the earth horizon from a given point

In this problem we must determine the distance between a point P located about earth's circumference and the point of horizon, located on earth's circumference. Since the line between these two points is tangent to earth, then, distance x can be found by Pythagorean theorem:

x = √[(3959 mi + 10.2 mi)² - (3959 mi)²]

x = 284.372 mi

The distance x is equal to 284.372 miles.

To learn more on Pythagorean theorem: https://brainly.com/question/14930619

#SPJ1

PLS HELP THIS IS DUE TOMORROW

Answers

Answer: y = -|x + 1| + 1

Step-by-step explanation:

Since this is a "V" shaped graph, we know it uses the absolute value function. This is the parent function:

    y = |x|

This represents the transformations:

➜ a is amplitude

➜ h is horizontal shift

➜ k is vertical shift

    f(x) = a | x - h | + k

Next, we see it is shifted one unit upwards.

    y = |x| + 1

Then, we see it is also shifted one unit left.

➜ Note that this shift is -h units, so we will use positive for moving left.

    y = |x + 1| + 1

Lastly, we see this graph is flipped and has a negative slope, or amplitude.

    y = -|x + 1| + 1

Please help me understand this

Answers

Answer:

To find the value of y, we can use the slope formula:

slope = (y2 - y1) / (x2 - x1)

We know that the slope is 5, and the two points on the line are (5,y) and (4,1). We can substitute these values into the slope formula to get:

5 = (y - 1) / (5 - 4)

Simplifying this equation gives:

5 = y - 1

Adding 1 to both sides gives:

y = 6

Therefore, the value of y is 6.

Step-by-step explanation:

please find the SA and can you please explain?
Please hurry if you can.

Answers

Answer:

Rounding to the nearest hundredth, the surface area of the regular hexagonal pyramid is approximately 663.2 square centimeters.

Step by Step Explanation:

The surface area of a regular hexagonal pyramid can be calculated using the formula:

Surface area = (1/2) x Perimeter of base x Slant height + Base area

To find the perimeter of the hexagonal base, we can use the formula:

Perimeter of hexagon = 6 x Length of one side

Since the base edge length is 8 centimeters, the length of one side of the hexagon is also 8 centimeters. Therefore, the perimeter of the hexagonal base is:

Perimeter of base = 6 x Length of one side = 6 x 8 = 48 centimeters

To find the base area of the pyramid, we can use the formula:

Base area = (3/2) x (Square root of 3) x (Length of one side)^2

Substituting the values, we get:

Base area = (3/2) x (Square root of 3) x (8)^2 = 96(sqrt(3)) square centimeters

Now we can substitute the values into the surface area formula:

Surface area = (1/2) x Perimeter of base x Slant height + Base area

Surface area = (1/2) x 48 x 15 + 96(sqrt(3))

Surface area = 360 + 96(sqrt(3)) square centimeters

Simplify. Simplify. Express your answer as a single term, without a denominator.
pls helpppppp

Answers

Simplifying further, you can move any negative exponents to the denominator by changing their sign:

t⁻² u⁻⁶ v⁴ = v⁴ / (t² u⁶)

what is denominator  ?

In a fraction, the denominator is the bottom number that represents the total number of equal parts into which the whole is divided. For example, in the fraction 3/4, the denominator is 4, which indicates that the whole has been divided into four equal parts.

In the given question,

When multiplying two terms with the same base, you can add their exponents, so:

t⁻¹ u v⁴* t⁻¹ u⁻⁷ v⁰ = t⁻² u⁻⁶ v⁴

Simplifying further, you can move any negative exponents to the denominator by changing their sign:

t⁻² u⁻⁶ v⁴ = v⁴ / (t² u⁶)

To know more about denominator  , visit:

https://brainly.com/question/7067665

#SPJ1

El perímetro de un campo rectangular es 300 m . Si la longitud del campo es 88 , ¿cuál es su anchura?

Answers

Based on the above, the width of the field is 62 meters.

What is the width?

Based on the question, Let's say that the width of the field is  denoted with 'w'.

Note that the formula for the perimeter (P) of a rectangle is:

P = 2(l + w)

where"

l = length

w =  width.

Fixing the values into the equation, it will be:

300 = 2(88 + w)

So, Divide both sides by 2:

150 = 88 + w

Subtract 88 from both sides:

w = 150 - 88

w = 62

Learn more about width from

https://brainly.com/question/25292087

#SPJ1

Se text below

The perimeter of a rectangular field is 300 m. If the length of the field is 88 , what is its width?

B as a % of A is equal to A as a % of (A+B). Find B as a % of A.

Answers

Option (b), 62% is correct.

How to solve

By the given condition,

B/A = A/(A + B) ..... (1)

Now to find the percentage of A = B, we consider B = Ax. From (1), we get

Ax/A = A/(A + Ax)

or, x = 1/(1 + x)

or, x² + x - 1 = 0

Using the quadratic formula, we get

x = {- 1 ± √(1 + 4)}/2

= (- 1 ± √5)/2

Since x cannot be negative, we take

x = (- 1 + √5)/2

≈ 0.62

Therefore the required percentage is

= 0.62 × 100%

= 62%


Read more about percentage here:

https://brainly.com/question/24877689

#SPJ1

B as a percentage ofAis equal to Aas a

percentage of(A+B). How much percent

of A is B?

(a) 60%

(b) 62%

(C) 64%

(d) 66%

Match the situation with its probability.

Answers

The given probabilities are as follows:

Spinner landing on at least one A = 7/16Spinner landing on C and D in any order = 1/8Spinner landing on two Bs = 1/16Spinner landing on C on the second spin = 1/4

What are the probabilities?

The probabilities are determined using the formula below:

Probability = number of expected outcome / number of total outcomes

Spinner landing on at least one A:

number of at least one A = 7

Spinner landing on at least one A = 7/16

Spinner landing on C and D in any order:

number of landing on C and D in any order = 2

Spinner landing on C and D in any order = 2/16

Spinner landing on C and D in any order = 1/8

Spinner landing on two Bs:

number of  landing on two Bs = 1

Spinner landing on two Bs = 1/16

Spinner landing on C on the second spin:

Number of landing on C on the second spin = 4

Spinner landing on C on the second spin = 1/4

Learn more about probability at: https://brainly.com/question/24756209

#SPJ1

You’re planning to buy a house and you want to have $35,000 to put as a down payment. If you have $20,000 today and you’re able to receive 12% interest rate for investing the money, how long will it take you to have enough money for the down payment saved?

Answers

It will take approximately 6.24 years to have enough money for the down payment saved.

How to calculate how long will it take you to have enough money for the down payment saved

We can use the formula for compound interest to solve this problem:

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

where:

A = the amount of money we want to have (in this case, $35,000)

P = the initial amount we have (in this case, $20,000)

r = the annual interest rate (in this case, 12%)

n = the number of times interest is compounded per year (let's assume it's compounded monthly, so n = 12)

t = the number of years we're investing for (this is what we want to find)

Substituting the values we know:

$35,000 = $20,000(1 + 0.12/12)^(12t)

Simplifying:

1.75 = (1 + 0.01)^(12t)

Taking the natural logarithm of both sides:

ln(1.75) = 12t ln(1.01)

Dividing both sides by 12 ln(1.01):

t = ln(1.75) / (12 ln(1.01))

Using a calculator:

t ≈ 6.24 years

Therefore, it will take approximately 6.24 years to have enough money for the down payment saved.

Learn more about  compound interest at https://brainly.com/question/24274034

#SPJ1

Confusing Calculus Parametric Equations Question

Answers

Rounding to the nearest meter, we get that the bullet will hit the ground 18603 meters away from the gun.

what is acceleration?

The rate at which an object's velocity varies with respect to time is known as its acceleration. It is a vector quantity whose definition is the product of the velocity change and the time period during which the change takes place. Depending on the direction and size of the velocity change, acceleration may be positive, negative, or zero. Acceleration in physics is frequently represented by the letter "a," and its SI unit is metres per second squared (m/s2).

To find when the bullet will hit the ground, we need to find the time at which y = 0.

y = vo sin(a) t - (1/2)g[tex]t^2[/tex], where g is the acceleration due to gravity (9.8 m/s^2).

Setting y = 0, we get:

0 = vo sin(a) t - (1/2)g[tex]t^2[/tex]

Solving for t using the quadratic formula, we get:

Since we want the time when the bullet hits the ground, we take the positive root:

t = (vo sin(a) + √((vo sin(a))^2 + 2gy)) / g

Plugging in the values given, we get:

t = (550 m/s * sin(a) + √((550 m/s * sin(a))^2 + 2 * 9.8 m/s^2 * 0)) / 9.8 m/s^2

Simplifying, we get:

t = (550 m/s * sin(a)) / 9.8 m/s^2

t = 35.27 seconds (rounded to two decimal places)

To find how far from the gun the bullet will hit the ground, we need to find the value of x at this time:

x = vo cos(a) t

Plugging in the values given, we get:

x = 550 m/s * cos(a) * 35.27 s

x = 18602.57 meters

Rounding to the nearest meter, we get that the bullet will hit the ground 18603 meters away from the gun.

to know more about acceleration:
https://brainly.com/question/30660316

#SPJ1

Other Questions
Samsungs challenges associated with implementing a new AIS? Calculate the theoretical yield of alf3 obtained from 0.45 mol of al in the reaction 2ai + 3f2 2aif3 What is the volume of the following rectangular prism?2 units and 7 1/3 units a guitar string 61 cm long vibrates with a standing wave that has three antinodes. part a which harmonic is this? The temperature of a sample of gas in a steel tank at 50.0 kPa isincreased from -100.0C to 35.0 C. What is the final pressureinside the tank? Tyrell Co. Entered into the following transactions involving short-term liabilities. Year 1 Apr. 20 Purchased $39,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 8%, $35,000 note payable along with paying $4,000 in cash. July 8 Borrowed $63,000 cash from NBR Bank by signing a 120-day, 11%, $63,000 note payable. __ why is iron widely extracted in the industries PLEASE SOMEONE !! 15 POINTS!!! prepaid expenses appear in the section of the balance sheeta. as an expense on the income statement.b. as an asset on the balance sheet.c. as a liability on the balance sheet.d. as a reduction to retained earnings. Adam is purchasing a new television that costs $2,187. 96 after tax. He borrowed the money from his parents and must pay back the full amount plus simple interest at the rate of 3. 5%. What is the interest he will pay if he takes 2 years to pay his parents back? (Include Decimal with the cents; No Commas)andAdam is purchasing a new television that costs $2,187. 96 after tax. He borrowed the money from his parents and must pay back the full amount plus simple interest at the rate of 3. 5%. What is the total amount he will pay if he takes 2 years to pay his parents back? (Include Decimal with the cents; No Commas)please Can somebody give me an review over how to solve systems of equations by substitution and elimination? PLEASE HELP I forgot how to do it and my Algebra EOC is TOMORROW!! I provided an example question and I need LONG ACCURATE and HELPFUL explanations, not a one sentence response (or I will report you). PLEASE HELP ME!!! Attemption 1 2 3 4 5 3 4 5 6 7 8 > i both "wonderful things" and "egypt's master builders" highlight the importance the ancient egyptians placed on preserving their cultural heritage. your task now is to create a proposal for your city/town council on the need to create and construct a cultural heritage museum for your community. use the following guidelines as you complete this task. 1. create an outline for a proposal addressed to your city/town council on the need to develop a community cultural heritage museum. 2. establish your purpose in creating this museum-give reasons and evidence that stress the importance of the project to the council members. 3. identify the types of objects, artifacts, documents, and memorabllla that will be part of your museum and glve evidence to support the inclusion of these articles. 4. explain the design of the building you have in mind-think about the materials which will be used in construction ar what you want the building to look like. evaluate how the building itself will be a representation of your community- 5. identify resources and funding the city/town can utilize in the construction of the museum. middle-class women who participated in this movement became active in public life after being exposed to numerous problems that plagued america's cities, and were challenged to develop the skill and confidence to tackle such problems. what is the ? If a person consumes 5. 33 105 kcal in a day and one barrel of oil can produce 3. 70 106 kcal, what is the equivalent of energy consumed per year by that person in terms of barrels of oil? Katja plans an experiment that measures the temperature of different colors of paper placed in sunlight. Her hypothesis is that if black, blue, yellow, red, and white sheets of paper are exposed to white light, then the black sheet of paper will increase the most in temperature. Katja will place a sheet of each color of paper of the same size and thickness in the same location for the same amount of time. Why will katja use different colors of paper in her experiment? Please answer the question with the image provided. A candy store called "Sugar" built a giant hollow sugar cube out of wood to hang above the entrance to their store. It took 13.5 m213.5 m 2 13, point, 5, start text, space, m, end text, squared of material to build the cube.What is the volume inside the giant sugar cube?Give an exact answer (do not round). How many grams of KNO3 are needed to make 1. 50 liters of a 0. 50 M KNO3 solution? coordinate grid by equation y=4 what line would represent a row parallel to it ? Describe how each of the following impacts our environment: rainforest, population growth, and use of natural resources. (worth 12 total)