Marcy has $1600 to invest at 8% annual interest compounded monthly. how long will it take her investment to grow to $2400?

Answers

Answer 1

It will take about 5 years for her investment to grow to $2400.

The formula for calculating the compound amount is expressed according to the equation;

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

A is the amount after t years = $2400P is the amount invested = $1600r is the rate = 8% = 0.08t is the time in yearsn is the compounding time = 12 (monthly)

Substitute the given parameters into the formula to have:

[tex]2400=1600(1+\frac{0.08}{12} )^{12t}\\1.5=(1+0.00667)^{12t}\\[/tex]

Take the natural logarithm of both sides

[tex]ln(1.5)=12tln(1.00667)\\12t=\frac{ln(1.5)}{ln(1.00667)}\\t = \frac{0.4054}{0.07977}\\t= 5.082years[/tex]

Hence it will take about 5 years for her investment to grow to $2400

Learn more on compound interest here: https://brainly.com/question/24924853


Related Questions

x-(2x+3)
how to solve and why you change the sign for the +3?

Answers

Answer:

-x - 3

Step-by-step explanation:

x-(2x + 3)

=> x-1(2x + 3)

=> x - 2x - 3

=> -x - 3

Therefore, this is the solution. Hoped this helped.

[tex]GeniusUser[/tex]

Answer:

Step-by-step explanation:

x-(2x+3)

Notice that we can't further simplify the things in the bracket so we should multiply by -1

Technically this is like:

x - 1(2x+3)

-1 times 2x = -2x   , -1 times 3 is -3

= x - 2x - 3

= -x - 3

"a deposit plus $8 per hour"

Answers

Answer:

d + 8/hr

Step-by-step explanation:

you are going to wash a large glass window in a shape of a trapezoid. The lenghts of the bases of the window are 10 feet and 14 feet. the height is 8 feet. you can wash 6 square feet of the window in 1 minute. how long will it take you to wash the entire window

Answers

Answer:

16 minutes

Step-by-step explanation:

First we are going to want to find the area of the window. We then divide that by the amount of area you can wash per minute ( 6 square feet )

So first lets find the area.

We are told that the window is in a shape of a trapezoid.

The area of a trapezoid can be calculated using the formula A = [tex]\frac{a+b}{2} h[/tex]

Where a and b are the base lengths and h is the height

We are told that the length of the bases are 10 ft and 14ft so a and b = 10 and 14. We are also told that the window has a height of 8 so h = 8 .

We then plug these numbers into the formula to find the area

Recall formula: [tex]A=\frac{a+b}{2} h[/tex]

a = 10 , b = 14 and h = 8

plug in these values into formula

[tex]A=\frac{10+14}{2} 8[/tex]

add 10 and 14 to get 24

[tex]A=\frac{24}{2} 8[/tex]

simplify fraction : 24 / 2 = 12

[tex]A=(12)(8)[/tex]

multiply 12 and 8 to get 96.

A = 96 square feet.

To find how long it would take to wash the window we divide the total area of the window by the amount of area that can be washed per minute

Total area of window = 96

Area that can be washed per minute = 6

Time it would take to wash the whole window = 96 / 6 = 16 minutes

Since 2012, the price of a school lunch at Westown High School has risen at a constant rate. In 2014, the price of a school lunch was $2.25. The price rose to $3.20 by 2019.
Complete the equation that describes the relationship between the price of a school lunch in dollars, P, and the elapsed time in years since 2012,
Write your answer using whole numbers or decimals rounded to the nearest hundredth.

Please help I don’t understand

Answers

Answer:

  P = 0.14t +2.25

Step-by-step explanation:

The statement that "the price of a school lunch ... has risen at a constant rate" is telling you that the price can be modeled by a linear equation. If P is the price, and t is years after 2012, you are given two points on the line:

  (t, P) = (0, 2.25) and (7, 3.20)

You can use these points to find the equation of the line in the usual way.

  m = (y2 -y1)/(x2 -x1) . . . . . . slope of a line through (x1, y1) and (x2, y2)

  m = (3.20 -2.25)/(7 -0) = 0.95/7 ≈ 0.14

The first point tells you the equation intercept, so the relationship between P and t is ...

  y = mx +b . . . . . . . m = slope; b = y-intercept. We're using (t, P) for (x, y).

  P = 0.14t +2.25

If Uber charges $12 for a ride plus $2 per mile, write an equation for the cost (where x is the miles)

Answers

Answer:

12 + 2x = y

Step-by-step explanation:

y would be the total cost

Answer:

$12 + $2 × x

Step-by-step explanation:

What +1/16 = 3/2 answer please

Answers

Answer:

1   7/16

Step-by-step explanation:

my Christmas present to you​

Answers

and have a happy new year!

Find the LCM of 8, 4 and 6.​

Answers

Answer:

Answer: LCM of 4, 6, and 8 is 24.

Answer:

24

Step-by-step explanation:

8 → 8, 16, 24, 32, 40

4 → 4, 8, 12, 16, 20, 24, 28, 32, 36

6 → 6, 12, 18, 24, 30, 36

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

So the LCM is 24.

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

- Hope it helps!

- Have a good day!

2.
If you were to flip a coin 20 times, what is the probability
you would get at most 13 heads?
a) .9423
b) .1316
c) .0577
d) .0739

Answers

Answer:

A) .9423

Step-by-step explanation:

The chance of getting at most 13 heads is 0.9423

Would this be increase or decrease? 75 people to 25 people?

Answers

Answer:

decreased

Step-by-step explanation:

Decreased because the number is going down

Provide an example of a function that does not have an inverse function. How do you prove that it is not a function?

Answers

Answer:

f(x) = x^2 is a classic example

f( 3 ) = 9 and

f( -3 ) = 9, but

f^(-1)[9] is undefined because the result can be 3 and -3

in what situation are we supposed to use tan inverse

Answers

[tex]\huge\bold\green{ANSWER}[/tex]

The inverse trig ratios, you can find the angle measure, given two sides.

Inverse Tangent: If you know the opposite side and adjacent side of an angle in a right triangle, you can use inverse tangent to find the measure of the angle.

Isabel is going for a walk. She walks 6.4 miles in 4 hours. What is her speed?

Answers

Answer:

6.4 miles per hour

Step-by-step explanation:

Answer:

1.6m/h

Step-by-step explanation:

6.4/4=1.6m/h

aaaaaaaa

Can somebody please help me i need this urgently.

Answers

Answer:

multiple choice is worth 2

short response is worth 4

Step-by-step explanation:

23x + 10y = 86

28x + 5y = 76

solve by elimination

multiply the top by -1 and the bottom by 2

-23x + -10y = -86

56x + 10y = 152

add them

33x = 66

x = 2

with x = 2 plug x into one of the equations

23x + 10y = 86

23(2) + 10y = 86

46 + 10y = 86

10y = 40

y = 4

x = 2 and y = 4 so

multiple choice is worth 2

short response is worth 4

help me please!!!!!!!!!!

Answers

Answer:

-35

Step-by-step explanation:

The figure shows triangle DEF and line segment BC, which is parallel to EF:


Triangle DEF has a point B on side DE and point C on side DF. The line BC is parallel to the line EF.

Part A: Is triangle DEF similar to triangle DBC? Explain using what you know about triangle similarity. (5 points)


Part B: Which line segment on triangle DBC corresponds to line segment EF? Explain your answer. (3 points)


Part C: Which angle on triangle DBC corresponds to angle F? Explain your answer. (2 point

Answers

Part A: Yes, Triangle DEF and DBC are the same triangle, but DBC is smaller than DEF because it is just a cut off of DEF.

Part B: I am pretty sure it is angle C.

Part C: I am pretty sure it is angle D.

Answer:

Step-by-step explanation:

Part A.

m < B = m < E   (corresponding angles, (BC parallel to EF))

m < C = m < F   ( as above)

So triangles DBC and DEF are similar ( by 2 equal angles).

Part B.

Line segment BC   ( as they are both opposite  < D)

Part C.

< C as its in same relative position to < F.

Mathematic 19 don’t understand

Answers

Answer:

1.75 x 10^3

Step-by-step explanation:

This is quite a simple question really, we just have to remember one thing, the exponent laws. When both exponents have the same base and are getting divided by each other, you subtract the exponents.

So in this case we have 10^8 on top divided by the 10^5 on the bottom, so now you just subtract the 5 from 8 and you get 3 as your final exponent. So your power would just be 10^3.

The final step is just dividing 7 by 4 which is 1.75

Combine the power and 1.75 together to get the correct notation

1.75 x 10^3

Martin filled the pool with 54000 gallons of water.
He paid £2.38 for each 1000 gallons of water.
Work out the total amount he paid for 54 000 gallons of water.

Answers

Answer:

£128.52

Step by step:

54,000 ÷ 1,000 = 54

54 * £2.38 = £128.52

Over the summer, Regan started studying Russian with an app and completed 5 lessons. Now that school has started, she will work more slowly, completing 1 lesson per month.
Write an equation that shows how the total number of lessons Regan has completed, y, depends on how many months of the school year have passed, x.

Answers

Answer:

y=x+5

Step-by-step explanation:

if you mean how many she completed INCLUDING the 5 over the summer

Is that correct? I don’t think it is, can someone tell me the answer

Answers

It is right but what's the full question

HELPPPPPPPPPPPPPPPPPPPPPPPPPPPPPP

Answers

Answer:

A = 3

B = -5

C = 1

C = -6

Step-by-step explanation:

Factors of 30:

10  3

15  2

5  6

Using positives or negatives of these numbers you need to find two that'll satisfy the equation

A is known to be 3 and C is known to be 1 because the factors of 3 are only 1 and 3.

After some trial and error we end up with

(3x-5)(x-6)

We know this will work because hen you multiply it out you get

3x^2-18x-5x+30

simplify

3x^2 -23x + 30

And this is the original equation

Answer:

........................

The ratio of shoes sold to sandals sold was 9:5. If there were 72 shoes sold, how many
sandals were sold?

Answers

Answer:

40

Step-by-step explanation:

9x8 = 72

5x8 = 40

72:40 = 9:5

Hope that helps

bro can anybody please help :(!!

Answers

Answer:

This is what i got

Which property of equality should Wade use to solve the equation StartFraction x Over 6 EndFraction = 3?

Answers

The property of equality Wade would use to solve the equation StartFraction x Over 6 EndFraction = 3 is multiplication property of equality.

Given:

StartFraction x Over 6 EndFraction = 3

x / 6 = 3

apply multiplication property of equality by crossing multiply

x = 3 × 6

x = 18

check:

x / 6 = 3

18 / 6 = 3

3 = 3

Therefore, the property of equality Wade would use to solve the equation StartFraction x Over 6 EndFraction = 3 is multiplication property of equality.

Learn more about property of equality:

https://brainly.com/question/1601404

Answer:

C) Multiplication property of equality.

Step-by-step explanation:

Did the test, but it's because to cancel the division, you need to multiply. in this case, they'd multiply by six to cancel the fraction or x/6.

x/6=3

x/6x6=3x6

x=18

hope this helps

I do not understand

Answers

[tex]\huge \sf༆ Answer ༄[/tex]

Here's the solution ~

[tex] \sf \dfrac{5 {}^{6} }{5 {}^{1} } [/tex]

[tex] \sf 5 {}^{6 - 1} [/tex]

[tex] \sf {5}^{5} [/tex]

Simplify the variable expression below as much as possible.
6x + 1 + 7- 3

Answers

Answer:

6X+5

Step-by-step explanation:

Answer:

6x+5

Step-by-step explanation:

6x+1+7-3

6x+(1+7)-3

6x+8-3

6x+5

A truck is 2000 kg and has a cargo load of 1000 kg. Its speed is 50 km/h. The momentum for the truck and cargo is

Answers

Answer:

The momentum for the truck and cargo is 150000 kg·km/h

Step-by-step explanation:

p = mv

p = (2000 kg + 1000 kg)(50 km/h)

p = (3000 kg)(50 km/h)

p = 150000 kg·km/h

A lady is 5 years younger to her husband and he is 5 times as old as his daughter. If the daughter was 5 years old 3 years back, what is the present age of the lady? 25
45
35
30​

Answers

Answer:

35

Step-by-step explanation:

5x (5+3)=40-5=35

if x is a factor of y and y is a factor z, then x is a factor of z. true or false​

Answers

Answer:

True; this [tex]x[/tex] would indeed be a factor of [tex]z[/tex].

Step-by-step explanation:

"[tex]x[/tex] is a factor of [tex]y[/tex]" means that there is a whole number [tex]p[/tex] such that [tex]x\, p = y[/tex].

Likewise, [tex]y[/tex] is a factor of [tex]z[/tex] if and only if there is a whole number [tex]q[/tex] such that [tex]y\, q = z[/tex].

This [tex]x[/tex] would be a factor of [tex]z[/tex] if there is some whole number [tex]r[/tex] such that [tex]x\, r = z[/tex].

The first equality [tex]x\, p = y[/tex] implies that [tex]y[/tex] may be substituted with [tex]x\, p[/tex].

Substitute the [tex]y[/tex] in the second equality [tex]y\, q = z[/tex] with [tex](x\, p)[/tex] to obtain:

[tex](x\, p)\, q = z[/tex].

Rearrange to obtain:

[tex]x\, (p\, q) = z[/tex].

The product of two whole numbers is still a whole number. Since [tex]p[/tex] and [tex]q[/tex] are both whole numbers, [tex]p\, q[/tex] would also be a whole number.

Thus, if [tex]r = p\, q[/tex], then [tex]x\, r = x\, (p\, q) = z[/tex], while [tex]r[/tex] would be a whole number.

Therefore, this [tex]x[/tex] would indeed be a factor of [tex]z[/tex].

Sally earns commission for selling cars at the Nissan dealership. She earns 5.5% on
every car she sells. Last month, she sold 7 cars for a total of $160,000. What was
Sally's commission last month?

Answers

Answer:

8800

Step-by-step explanation:

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