Ask question

Ask question

All categories

2 years ago

10

James and Terry open a savings account that has a 2.75% annual interest rate, compounded monthly. They deposit $500 into the acc

ount each month. How much will be in the account after 20 years? A. $159,744.59 B. $48,407.45 C. $330,600.15 D. $580,894.18

1 answer:

katovenus [111]2 years ago

7 0

Answer:

<h2>Option A is the answer(here the answer is calculated taking the whole value, without approximating it to a nearest value)</h2>

Step-by-step explanation:

Annual interest rate is 2.75%. Hence, the monthly interest rate is $\frac{2.75}{12}$

The amount will be compounded $(20\times12) = 240$ times.

Every month they deposits $500.

In the first month that deposited $500 will be compounded 240 times.

It will be $500\times [1 + \frac{2.75}{1200} ]^{240}$

In the second month $500 will be deposited again, this time it will be compounded 239 times.

It will give $500\times [1 + \frac{2.75}{1200} ]^{239}$

Hence, the total after 20 years will be $500\times [1 + \frac{2.75}{1200} ]^{240} + 500\times [1 + \frac{2.75}{1200} ]^{239} + ........+ 500\times [1 + \frac{2.75}{1200} ]^{1} = 160110.6741$

You might be interested in

N experiment was conducted to test the effect of a new stain remover. Twenty stains were treated with stain remover A and stain

Klio2033 [76]

Answer:

For this case the statistic calculated is $t= 1.37$

$p_v =0.17$

So the p value is a very high value and using the significance level given $\alpha=0.1$ we see that $p_v>\alpha$ so we can conclude that we have enough evidence to FAIL to reject the null hypothesis, and there is enough evidence to conclude that we have a difference between the two means at 10% of significance.

Step-by-step explanation:

Data given and notation

$\bar X_{A}$ represent the mean for the sample for A

$\bar X_{B}$ represent the mean for the sample B

$s_{A}$ represent the sample standard deviation for the sample A

$s_{B}=$ represent the sample standard deviation for the sample B

$n_{A}=20$ sample size for the group poisoned

$n_{B}=20$ sample size for the group unpoisoned

t would represent the statistic (variable of interest)

Concepts and formulas to use

We need to conduct a hypothesis in order to check if the two means are equal or not , the system of hypothesis would be:

Null hypothesis: $\mu_{A} - \mu_{B} =0$

Alternative hypothesis: $\mu_{A} - \mu_{B} \neq 0$

For this case is better apply a t test to compare means, and the statistic is given by:

$t=\frac{\bar X_{A}-\bar X_{B}}{\sqrt{\frac{s^2_{A}}{n_{A}}+\frac{s^2_{B}}{n_{B}}}}$ (1)

t-test: Is used to compare group means. Is one of the most common tests and is used to determine whether the means of two groups are equal to each other.

Calculate the statistic

For this case the statistic calculated is $t= 1.37$

Statistical decision

The significance level is 0.1 $\alpha=0.1$ , but we can calculate the p value for this test. The first step is calculate the degrees of freedom, on this case:

$df=n_{A}+n_{B}-2$

The p value on this case is given

$p_v =0.17$

So the p value is a very high value and using the significance level given $\alpha=0,1$ we see that $p_v>\alpha$ so we can conclude that we have enough evidence to FAIL to reject the null hypothesis, and there is enough evidence to conclude that we have a difference between the two means at 10% of significance.

5 0

2 years ago

If the ratio of the sides of two squares is 3:1, what is the ratio of their perimeters?

Anvisha [2.4K]

Answer:

Ratio of the perimeters =3:1

Step-by-step explanation:

We have given that : Ratio of the sides of two squares is 3:1

To find : Ratio of their perimeters

Solution : Let the length of the sides are 3:1 = 3x : x

Formula of perimeter of square = 4(side)

Using the formula ,

Perimeter of 1 square = 4×3x= 12x

Perimeter of 2 square = 4×x= 4x

Ratio of the perimeter of 1 square and 2 square = 12x : 4x

= 3 : 1

8 0

2 years ago

The graph of a quadratic relationship is in the shape of a parabola. Parabolas are symmetric arcs and are useful for modeling re

zhuklara [117]

Answer:

The arcs on the Golden Gate Bridge.

Explanation:

I think about the Golden Gate Bridge, which is a suspension bridge.

As in any suspension bridge, a long cable is supported by two large supports.

The cable falls from a support, in the form of a curve concave upwards, to a minimum point that is the vertex of the<em> parabola</em>, through which the axis of <em>symmetry</em> passes, and curves again upwards to ascend to the upper end of the other support.

As a <em>unique feature</em> of this parabolic arc you can tell that the the concavity is upward; the parabola open upward.

Also, you can tell that the parabola is vertical, which means that the axis of symmetry is vertical.

The <em>symmetry</em> is clear because to the curve to the left of the vertex is a mirror image of the curve to the right of the vertex.

6 0

2 years ago

Find the Maclaurin polynomials of orders n = 0, 1, 2, 3, and 4, and then find the nth Maclaurin polynomials for the function in

Zielflug [23.3K]

Answer:

Σ(-1)^kx^k for k = 0 to n

Step-by-step explanation:

The nth Maclaurin polynomials for f to be

Pn(x) = f(0) + f'(0)x + f''(0)x²/2! + f"'(0)x³/3! +. ......

The given function is.

f(x) = 1/(1+x)

Differentiate four times with respect to x

f(x) = 1/(1+x)

f'(x) = -1/(1+x)²

f''(x) = 2/(1+x)³

f'''(x) = -6/(1+x)⁴

f''''(x) = 24/(1+x)^5

To calculate with a coefficient of 1

f(0) = 1

f'(0) = -1

f''(0) = 2

f'''(0) = -6

f''''(0) = 24

Findinf Pn(x) for n = 0 to 4.

Po(x) = 1

P1(x) = 1 - x

P2(x) = 1 - x + x²

P3(x) = 1 - x+ x² - x³

P4(x) = 1 - x+ x² - x³+ x⁴

Hence, the nth Maclaurin polynomials is

1 - x+ x² - x³+ x⁴ +.......+(-1)^nx^n

= Σ(-1)^kx^k for k = 0 to n

6 0

2 years ago

The amounts of vitamin C (in milligrams) for 100g (3.57 ounces) of various randomly selected fruits and vegetables are listed. I

34kurt

Answer:

H0: sigma=12

H1:sigma≠12

This hypothesis test is a two tailed test.

Step-by-step explanation:

The null value described in the statement is 12 mg. So, the null hypothesis would be sigma=12. As the statement states that whether there is sufficient evidence to conclude that standard deviation differs from 12 mg, so the alternative hypothesis would be sigma ≠12. The alternative hypothesis contains inequality sign so, the hypothesis test is a two tailed test.

4 0

2 years ago