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antoniya [11.8K]
1 year ago
11

Marshall invest $4500 into an account bearing 6% interest compounded semiannually. How much interest will be added into this acc

ount after five years? Round to the nearest cent
Mathematics
1 answer:
Sphinxa [80]1 year ago
4 0

Answer:

$1547.62

Step-by-step explanation:

The principal Marshall invested is $4500.

The rate of interest is 6%

The compound interest formula is

A=P(1+r)^n

We substitute P=4500,r=0.06 and t=5 to obtain:

A=4500(1+ \frac{0.06}{2} )^ {2 \times 5}

We simplify to get:

A=4500(1+ 0.03)^ {10} = 4500 \times  {1.03}^{10}

This gives us:

A=6047.62

The interest after 5 years is

6047.62 - 4500 = 1547.62

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I'm confused but no? lol
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2 years ago
The average annual costs for owning two different refrigerators for x years is given by the two functions: f(x) = 850 + 62x /x a
Alex17521 [72]

Answer:

In the long run cost of the refrigerator g(x) will be cheaper.

Step-by-step explanation:

The average annual cost for owning two different refrigerators for x years is given by two functions

f(x) = \frac{850+62x}{x}

     = \frac{850}{x}+62

and g(x) = \frac{1004+51x}{x}

             = \frac{1004}{x}+51

If we equate these functions f(x) and g(x), value of x (time in years) will be the time by which the cost of the refrigerators will be equal.

At x = 1 year

f(1) = 850 + 62 = $912

g(1) = 1004 + 51 = $1055

So initially f(x) will be cheaper.

For f(x) = g(x)

\frac{850}{x}+62 = \frac{1004}{x}+51

\frac{1004}{x}-\frac{850}{x}=1004-850

\frac{154}{x}=11

x = \frac{154}{11}=14

Now f(15) = 56.67 + 62 = $118.67

and g(x) = 66.93 + 51 = $117.93

So g(x) will be cheaper than f(x) after 14 years.

This tells below 14 years f(x) will be less g(x) but after 14 years cost g(x) will be cheaper than f(x).

5 0
1 year ago
Read 2 more answers
an employer will do a 50% match on your investment to a 401k retirement plan. If you decide to contribute a monthly amount of $2
faltersainse [42]

Answer:

The amount that should be in the account after 15 years is $95,321.85

Step-by-step explanation:

According to the given data, we have the following:

monthly amount of $220=R

interest rate is fixed at 2.05%. We require the monthly ineterest rate, hence monthly interest rate= 2.05%/12=0.1708%=0.0017

t=15years×12=180 months

In order to calculate how much should be in the account after 15 years, we would have to use the following formula:

Ap=<u>R(1-(1+i)∧-t)</u>

             i

Ap=<u>220(1-(1+0.0017)∧-180)</u>

                       0.0017

Ap=<u>162,04</u>

      0.0017

Ap=$95,321.85

The amount that should be in the account after 15 years is $95,321.85

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6 0
2 years ago
The square of a number decreased by 3 times the number 28 find all possible values for the number
stealth61 [152]

Question:

The square of a number decreased by 3 times the number is 28 find all possible values for the number  

Answer:

The possible values of number are 7 and -4

Solution:

Given that the square of a number decreased by 3 times the number is 28

To find: all possible values of number

Let "a" be the unknown number

From given information,

square of a number decreased by 3 times the number = 28

a^2 - 3a = 28

a^2 - 3a - 28 = 0

Let us solve the above quadratic equation

\text {For a quadratic equation } a x^{2}+b x+c=0, \text { where } a \neq 0

x=\frac{-b \pm \sqrt{b^{2}-4 a c}}{2 a}

Using the above formula,

\text { For } a^{2}-3 a-28=0 \text { we have } a=1, b=-3, c=-28

\begin{aligned}&a=\frac{-(-3) \pm \sqrt{(-3)^{2}-4(1)(-28)}}{2 \times 1}\\\\&a=\frac{3 \pm \sqrt{9+112}}{2}\\\\&a=\frac{3 \pm \sqrt{121}}{2}=\frac{3 \pm 11}{2}\\\\&a=\frac{3+11}{2} \text { or } a=\frac{3-11}{2}\\\\&a=7 \text { or } a=-4\end{aligned}

Thus the possible values of number are 7 and -4

5 0
2 years ago
A barber shop produces 96 haircuts a day. each barber in the shop works 8 hours per day and produces the same number of haircuts
Finger [1]
We know that
A barber shop produces 96 haircuts a day----------> <span>8 hours per day
so
96/8--------> 12 haircuts per hour

if </span><span>if the shop's productivity is 2 haircuts per hour of labor
then
12/2---------> 6 </span><span>barbers

the answer is
6 </span><span>barbers</span>
7 0
2 years ago
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