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

11/19% of a quantity is equal to what fraction of the quantity?

Answers

Answer:

57/10,000

Step-by-step explanation:

9/11% = 0.57% = 0.0057  

57/10,000

Pierson's Pet Palace has an 85 gallon fish tank. When it needs to be cleaned, it can be drained at a rate of 4 gallons per minute. Write an equation. help pls

Answers

Answer:

Step-by-step explanation:

The time it takes to empty the tank = 85/4 + 0.25 = 21.25 minutes.

- because it takes 21 minutes  to empty 84 gallons and the last gallon takes

1/4 of a minute.

truncate 4087.2 to the tens

Answers

Answer:

  4080

Step-by-step explanation:

When the number is truncated to the tens place, the digits to the right of that place are made to be zero. The truncated value is ...

  4080

_____

When a number is truncated, there is no rounding.

4080 steps
Explanation:…

△ABC has vertices A(1,1) B(5,5) and C(4,6)
What is the perimeter of △ABC

What is the area of △ABC? Show your work.

Answers

Length in units:

Use phytogoras theorem or measure it by a ruler if your using a graph paper

AB = 5.65 units

AC = 5.83 units

CB = 1.41 units

Perimeter =5.65 + 5.83 + 1.41 = 12.89 units

Area = 1/2 * 1.41 * 5.65 = 3.98units

100-80 divided by 4+(6-3) using pemdas

Answers

Answer:88.57

Step-by-step explanation: If your doing PEMDAS you do () Wich is 6-3 and gives 3tyen you do Addition which is 4+3=7 Then do Subtraction which is 100-80 so the equation is 100-80/7=88.57 etc.

What is [-2,-4] and [1,0]

Answers

Answer:

m=4/3

Step-by-step explanation:

Look at the model. Name three equivalent fractions for the part that is shaded

Answers

Answer:

1. 2/6

2. 1/3

3. 3/9

Step-by-step explanation:

I've learned this before

If 3
persons can weave 168 shawls in 14 days, how many shawls will be
woven by 8 persons days?


Answers

Answer:Given that 3 persons can weave 168 shawls in 14 days. Then, Shawls are woven in 1 day by the 3 men = 168/14 = 12. Shawls are woven in 1 day ...

Step-by-step explanation:

Anyone able to help
Just question 6 please

Answers

Answer:

C)

Step-by-step explanation:

Have a great day

Explain how to calculate and find 32% percent of 150.
Correct answer gets brainiest

Answers

Answer:

48

Step-by-step explanation:

You can easily find the percent of a number by multiplying the percent in decimal format (0.32) by the number you want to find the percent of.

150 * 0.32 = 48

Step-by-step explanation:

when finding the percentage of a number, multiply the number by the percentage's decimal form.

here's an example: 20% of 300

20% is 20/100 which is 0.20

now we just multiply

0.20×300=60

now for 32% of 150

32%--->32/100---->0.32

0.32×150=48

there you go! hope that helped

what percent of 925is37

Answers

Answer:

4%

Step-by-step explanation:

to find percentage do 37 divided by 925 helps it helps :)

What are three solutions of the inequality 29x+4<76?

Answers

=》29x + 4 < 76

=》29x < 76 - 4

=》29x < 72

=》x < 72/29

____

Hope it helps ⚜

[tex]29x +4 <76 \\\\\implies 29x < 76-4\\\\\implies 29x< 72\\\\\implies x<\dfrac{72}{29}\\\\\\\text{Decimal,} ~~~x<2.49\\\\\text{Interval,}~~ \left(-\infty, \dfrac{72}{29} \right)\\\\[/tex]

-4-(-8) divided by 4

Answers

Answer:

1

Step-by-step explanation:

-4 minus -8 is the same as 8 - 4 which is 4 and 4 divided by 4 is 1.

Answer:

8

Step-by-step explanation:

3 Z The quadratic equation whose roots twice the roots of :2X2-8X+5=0​

Answers

Ok done. Thank to me:>

What is the length of the radius of the circle given the equation ( x + 5)² + (y - 6)² = 49?

Answers

Answer:

center: (-5,6)

Radius: 7

Step-by-step explanation:

PLEASE HELP ASAP!!
Complete this item.
For the following figure, can you conclude that l || m? Select true or false.

Answers

Answer:

true

Step-by-step explanation:

Line l and line m are parallel to each other which means the statement is true.

[tex]\qquad \qquad\huge \underline{\boxed{\sf Answer}}[/tex]

The statement is True !

In the given figure, the two lines are parallel to one another ~ because pair of corresponding angles are equal.

Please Help

Find the area of a circle with radius,
r
= 87cm.
Give your answer rounded to 3 SF.

Answers

Area = pie*r^2
Area= 23778.71

Step-by-step explanation:

so, to repeat, the radius r of the circle is 87 cm.

the area of a circle is

pi×r²

so, in our case

A = pi×87² = pi×7569 = 23,778.7148... cm²

so, how to give this answer with only 3 significant figures ?

as you can see, there are already 5 figures before the decimal point.

3 attempts :

1. 3 significant figures after the decimal point : 23778.715 cm²

2. scientific notation with 3 SF : 2.38×10⁴ cm²

3. converting to m² (1m² = 10000cm²) : 2.38 m²

Beverly is making peanut butter-banana bread. She always doubles the amount of nuts and peanut butter chips. The total amount of chips and nuts after doubling is 412 cups.
and plz get equation as well

Answers

103 since u double that then you get 206

Scale: 2inches = 1 ft
1.)Jenna's father is going to use the blueprint above to make a playhouse for her. The length of the entire first floor is 12 inches. What is the actual length?
2.)The width of the entire first floor it is 8 inches. What is the actual width?
3.)What scale factor did Jenna's father use to go from the drawing to the actual house?
4.)What is the perimeter of the first that floor Jenna's that father built?
5.) What is the area of the first floor that Jenna's that father built?

Answers

The actual lenght will be 6 fee

The actual width will be 4 feet

The scale factor that Jenna's father used to go from the drawing to the actual house is 1.5

The perimeter of the floor is 20 feet

The area of the first floor that Jenna's that father built is 24ft²

Given the conversion factor 2inches = 1feet

1) If Jenna's father is going to use the blueprint above to make a playhouse for her and the length of the entire first floor is 12 inches, the actual length in feet is expressed as:

12 inches = x

2inches = 1feet

_____________________________

2x = 12

x = 6 feet

Hence the actual lenght will be 6 feet

2) If the width of the entire first floor is 8 inches, the actual width is expressed as;

8 inches = x

2inches = 1feet

_____________________________

2x = 8

x = 4 feet

Hence the actual width will be 4 feet

3) Thee scale factor will be the ratio of the length to the width as shown:

Ratio = length/width

Ratio = 6/4

Ratio = 3/2

Hence the scale factor that Jenna's father used to go from the drawing to the actual house is 1.5

4) The perimeter of the floor = 2(L + W)

Perimeter = 2(6 + 4)

Perimeter = 2(10)

Perimeter of the floor is 20 feet

5) Area of the floor = length * width

Area of the floor = 6ft * 4ft

Area of the floow = 24ft²

Hence the area of the first floor that Jenna's that father built is 24ft²

Learn more on area and perimeter of rectangle here:https://brainly.com/question/19819849

) Are 9:6 and 18: 12 equivalent?​

Answers

Answer:

Yes

Step-by-step explanation:

9      18

_  =   _

6      12

9*2=18

6*2=12

2=2  TRUE

Find the simple interest and amount in each of the following:
(a) P = $1800 R = 5% T = 1 year
(b) P = $2600 R = 12% T = 3 years
(c) P = $3125 R = 15% T = 73 days

Answers

(a)

[tex]SI = \frac{PRT}{100} \\ = \frac{1800 \times 5 \times 1}{100} \\ = 18 \times 5 \\ = 90[/tex]

Total amount = SI + Amount

= 90 + 1800 = $1890

(b)

[tex]SI = \frac{PRT}{100} \\ = \frac{2600 \times 12 \times 3}{100} \\ = 26 \times 12 \times 3 \\ = 26 \times 36 \\ = 936[/tex]

Total amount = SI + Amount

= 936 + 2600 = $ 3236

(c)

[tex]SI = \frac{PRT}{100} \\ = \frac{3125 \times 15 \times 0.2}{100} \\ = 93.75[/tex]

Total amount = SI + Amount

= 93.75 + 3125 = $ 3,218.75

The simple interest on $1800 is $90.

The simple interest on $2600 is $936.

The simple interest on $3125 is $93.75

What are the simple interests?

Simple interest is when interest is earned only on the amount of money deposited.

Simple interest  = amount deposited x time x year

1800 x 0.05 x 1 = $90

2600 x 0.12 x 3 = $936

3125 x 0.15 x (73/365) = $93.75

To learn more about simple interest, please check: https://brainly.com/question/27328409

#SPJ6

[tex](\sqrt[3]{5})^{2}[/tex]

Answers

Answer:

[tex](\sqrt[3]{5})^2=5^\frac{2}{3}[/tex]

Step-by-step explanation:

[tex](\sqrt[3]{5})^2[/tex]

[tex](5^{\frac{1}{3}})^2[/tex]

[tex]5^{\frac{1}{3}*2}[/tex]

[tex]5^\frac{2}{3}[/tex]

Remember that [tex](\sqrt[a]{x})^b=x^\frac{b}{a}[/tex]

Please Help, And Include Explanation. I will Give Brainliest To Best Answer

Answers

Answer: what’s the question I would love to help but there’s no question maybe try to post it again and I will see if I can answer?

Answer:

No question so no answer (just getting points i guess)

Step-by-step explanation:

Is the relation below a function? If it is a function, state its domain.
{ (-2, 3) , (-2, -3) , (8, 1) , (3, 3)}

Answers

Answer:

not a function. domain = -2, 3, 8 (you don't have to write them in any specific order and you also don't need to write -2 twice)

Step-by-step explanation:

to be a function, all of the x's must be different

2 + 2 = ? plz help me

Answers

Answer:

2+2=4

Step-by-step explanation:

thats the Anewer I know that it

Answer:

4

Step-by-step explanation:

Same thing as 2 x 2 = 4

Find the missing fraction __ -3/4=2/3

Answers

Answer:

17/12

Step-by-step explanation:

x - 3/4 = 2/3

x = 2/3 + 3/4

x = 17/12

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

check

17/12 - 3/4 = 2/3

the answer is good

Which graph represents f(x) = -1/4 x^6

Answers

Answer:

answer is B

Step-by-step explanation:

I used Desmos to graph the function


if you multiply the number by to end at 4 the results you gave will be the same of three times the number decreased by 7 ​

Answers

Answer:

11

Step-by-step explanation:

Let the number be x,

2x+4 = 3x-7

Collect like terms

2x-3x= -4-7

-x =. -11

Multiply both sides by -1

x. =. 11

Oh and I think you made a typo and missed the 2, " if you multiply the number by 2 to end at 4..........."

Hope This Helps :)

150 - 0.5 = 120 + 0.25

Answers

Answer:

149.5 = 120.25

Step-by-step explanation:

Write an equation of the line that passes through (-1,3) and is parallel to the line y = -3x + 2.

Answers

Answer:

y = - 3x

Step-by-step explanation:

The equation of a line in slope- intercept form is

y = mx + c ( m is the slope and c the y- intercept )

y = - 3x + 2 ← is in slope- intercept form

with slope m = - 3

Parallel lines have equal slopes , then

y = - 3x + c ← is the partial equation

To find c substitute (- 1, 3 ) into the partial equation

3 = 3 + c ⇒ c = 3 - 3 = 0

y = - 3x ← equation of parallel line

Answer:

y = -3x

Step-by-step explanation:

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