you would have to deposit approximately $22,807 quarterly into the account to reach your goal of saving $26,000 over the next 3 years at an interest rate of 4.4%.
Use the concept of compound interest defined as:
The interest that is computed using both the principal and the interest that has accrued during the previous period is called compound interest.
The compound interest formula is:
[tex]A = P(1 + r/n)^{(nt)}[/tex]
Where,
A is compounded amount
P is the principal amount
r is the rate of interest
n is the number of times compounding
t is time.
Given that,
Goal: Save enough money to pay cash for the next car.
Target amount: $26,000.
Timeframe: Over the next 3 years.
Interest rate: 4.4%.
Deposit frequency: Quarterly.
To calculate the amount you need to deposit quarterly to reach $26,000 over the next 3 years with an interest rate of 4.4%,
Use the formula of compound interest described above:
Where,
A = $26000
P =?
r = 4.4% or 0.044 as a decimal
n = 4
t = 3 years
Substituting the given values, we get:
[tex]26,000 = P(1 + 0.044/4)^{4\times3}[/tex]
Simplifying further:
[tex]26,000 = P(1 + 0.011)^{12 }[/tex]
[tex]26,000 = P(1.011)^{12}\\\\26,000 = P(1.1402)[/tex]
To solve for P, divide both sides of the equation by 1.1402:
P = 26,000 / 1.1402
P ≈ 22,807
Hence, you would have to deposit approximately $22,807 quarterly into the account.
To learn more about simple and compound interests visit:
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Take your time if you need to. I need a correct answer
Answer:
6 glasses of water
Step-by-step explanation:
This is fairly simple as we already have the equation
x+y=10 ---> x=10-y
8x+12y=96
now substitute
80 -8y + 12y = 96
4y= 16
y=4
if y = 4
x+4=10
x=6
Mark drank 6 glasses of water
Which of the following graphs best represents the solution to the pair of equations below? (4 points)
y = −x + 6
y = 2x − 3
graphs:
A coordinate plane is shown with two lines graphed. One line passes through the y axis at 6 and through the x axis at 6. The other line passes through the y axis at negative 3 and the x axis at 1.5. The lines intersect at the point 3 comma 3.
A coordinate plane is shown with two lines graphed. One line passes through the y axis at 6 and the x axis at 6. The other line passes through the y axis at 3 and the x axis at negative 1.5. The lines intersect at 1 comma 5.
A coordinate plane is shown with two lines graphed. One line passes through the y axis at 6 and the x axis at negative 6. The other line passes through the y axis at negative 3 and the x axis at negative 1.5. The lines intersect at negative 3 and 3.
A coordinate plane is shown with two lines graphed. One line passes through the y axis at 6 and the x axis at negative 6. The other line passes through the y axis at 3 and the x axis at 1.5. The lines intersect at negative 1 comma 5.
Answer:
First graph option: A coordinate plane is shown with two lines graphed. One line passes through the y axis at 6 and through the x-axis at 6. The other line passes through the y axis at negative 3 and the x-axis at 1.5. The lines intersect at point 3 commas 3.
Step-by-step explanation:
i) y=-x+6
ii) y=2x-3
The solution of the system of equations is found by equalizing the 2 equations:
-x+6=2x-3
-2x-x=-6-3
-3x=-9
x=-9/(-3)=3
i) y=-3+6=3
ii) y=2(3)-3=6-3=3
In graphs, this means that the lines intersect at (3, 3) ONLY
Answer: The graph where the lines intersect at (3, 3)
its a
I got it right om my exam
25 N
10N
15 N
5. Net Force:
6. Direction of Movement:
Solve for x.
5x-29> -34 or 2x+31<29
Answer:
Is there more to this question?
For the first inequality, x > -1
For the second inequality, x < -1
Step-by-step explanation:
5x - 29 > -34
add 29 to both sides
5x > -5
divide both sides by 5
x > -1
-----------------------------------------------------
2x + 31 < 29
subtract 31 from both sides
2x < -2
divide both sides by 2
x < -1
Which values of a,b and c correctly represent the answer in simplest form
Answer:
a
Step-by-step explanation:
Please for the love of god anwser my question lay correctly I really need your help :( I will give 25 points :)! This is geometry
I need help asap it's rn
Answer:
[tex] \displaystyle \rm A_{ \text{c - pentagon}} =41[/tex]
[tex] \rm \displaystyle P _{ \rm c - pentagon} = 20+ 4 \sqrt{2} [/tex]
Step-by-step explanation:
we have a square and a triangle
we want to figure out the area and the perimeter of the pentagon
to figure out the area of the pentagon we can use the given formula:
[tex] \displaystyle \rm A_{ \text{c - pentagon}} = A_{ \text{squre}} - A_{ \text{triangle}}[/tex]
let's figure out [tex]A_{\rm square}[/tex]:
since the given shape is a square Every angle of its 90° Thus the triangle is a right angle triangle
therefore the height is 4
[tex] \displaystyle A _{ \rm triangle} = \frac{1}{2} \times b \times h[/tex]
substitute h and b
[tex] \displaystyle A _{ \rm triangle} = \frac{1}{2} \times 4 \times 4[/tex]
reduce fraction:
[tex] \displaystyle A _{ \rm triangle} = 2 \times 4[/tex]
simplify multiplication:
[tex] \displaystyle A _{ \rm triangle} = 8[/tex]
likewise square
[tex] \displaystyle A _{ \rm squre} = {s}^{2} [/tex]
substitute s:
[tex] \displaystyle A _{ \rm squre} = {7}^{2} [/tex]
simplify square
[tex] \displaystyle A _{ \rm squre} = 49[/tex]
hence,
[tex] \displaystyle \rm A_{ \text{c - pentagon}} =49- 8[/tex]
[tex] \displaystyle \rm A_{ \text{c - pentagon}} =41[/tex]
to figure out perimeter
let's figure out hypotenuse first
[tex] \displaystyle h = \sqrt{ {4}^{2} + {4}^{2} } [/tex]
[tex] \displaystyle h = \sqrt{ 16 + 16} [/tex]
[tex] \displaystyle h = 4 \sqrt{2} [/tex]
therefore,
[tex] \rm \displaystyle P _{ \rm c - pentagon} = 3 + 3 + 4 \sqrt{2} + 7 + 7[/tex]
[tex] \rm \displaystyle P _{ \rm c - pentagon} = 6 + 4 \sqrt{2} + 14[/tex]
[tex] \rm \displaystyle P _{ \rm c - pentagon} = 20+ 4 \sqrt{2} [/tex]
Mary bought a desk on sale for 88.40. This price was 74% less than the original price.
What was the original price?
Answer: 340
Step-by-step explanation:
100 - 74 = 26%
26% = .26
x * .26 = 88.4
/.26 /.26
x = 340
check
340 * .74 = 251.6
340 - 251.6 = 88.4
What is the next number in the following pattern?
15, 27, 39, 51,
O A. 63
O B. 57
O C. 59
O D. 65
2=(1+r/100n)^nt
T=yr R=%
Write this exponential statement in logarithmic form for an investment at 15% quarterly. Then use change to base to find double time in yr.
Answer:
a) Log ( 2 ) = 4t Log ( 83/80 )
b) 4.7 years
Step-by-step explanation:
Attached below is the detailed solution
a) exponential statement in log form for an investment at 15% quarterly
Log ( 2 ) = 4t Log ( 83/80 )
n = 4 , r = 15
b) using change to base to find double time in yr
Double time in yr
t = Log ( 2 ) / 4log ( 83/80 )
= 4.7 years
Help! What’s the answer? I’m stuck on this question
Answer:
C. [tex]\frac{13}{6}[/tex]
Step-by-step explanation:
formula for slope is [tex]\frac{y2-y1}{x2-x1}[/tex]
So,
[tex]\frac{6-(-7)}{1-(-5)}[/tex]
which leaves you with
[tex]\frac{13}{6}[/tex]
Describe the following graph. Use terms
like increasing, decreasing, constant,
linear, non-linear, etc...
Please help will give brainliest
Answer:
the answer is B
Step-by-step explanation:
14+24=38
then
7+12=19
19 ×2 =38
i need help asap please! tia
Answer:
Answer is b. The distance between -5 and 0.
Step-by-step explanation:
An elevator descends into a mine shaft at the rate of 5 m/min. If the descend starts from 15m above the ground, by how long will it take to reach 350 m deep from the ground?
Answer:
Step-by-step explanation:
First we need to do 350 - 15 since 350 is our total and we already started at 15m.
Next divide the remainder (335) by 5 because that’s how fast we are moving, the final answer is 67 minutes.
PLZ HELP ME I WILL MARK BRAINLIEST
The survey results of the towns favorite holiday were displayed in a newspaper as described
37% of people enjoy Fourth of July
28% of people enjoy New Years Eve
42% of people enjoy Memorial Day
5% of people enjoy all three
12 % of people enjoy New Years Eve and Memorial Day
18 % of people enjoy Fourth of July and New Years Eve
13% of people enjoy Memorial Day only
What percentage of people enjoy New Years Eve only?
Answer:
28%Step-by-step explanation:
Also,
Written in the sentence only that,
28% of people enjoy New Years Eve
Of 2nd Option.
Why would some states be unwilling to integrate their schools? Give two reasons for full credit.
Answer:
State legislatures passed bills to thwart desegregation through “freedom-of-choice plans, which allowed parents to choose among several schools; transfer options, which permitted parents to move their children out of integrated schools; and grade-a-year plans, which started desegregation in the first or twelfth grade
Answer:
because they would leave there friends and might have to move
Step-by-step explanation:
if i had to move i would choose not to i would want my friends And I would miss my room. Your memories might be there.
PLEASE HELP WILL MARK BRAINLIESTT
Answer:
Where the question?
Step-by-step explanation:
Gia's rectangular patio is 27 feet long. The ratio of the length to the width is 6 to 4. What is the width of Gia's patio in yards? Hint: 3 feet = 1 yard.
I need help
Answer:
tttttttttttttttttttttttttttttttttttttttttttttttt ty
Step-by-step explanation:
Find the length of arc JK. Round to the nearest hundredth.
Answer:
theres nothing there
Step-by-step explanation:
need helpplz i struggling
7^2+18^2=49+324
49+324=373
19.31^2 would be your answer
How does making a frequency table or line plot help you see which value occurs most often in a data set?
Answer: https://www.khanacademy.org/math/statistics-probability/displaying-describing-data/quantitative-data-graphs/a/dot-plots-and-frequency-tables-review
-9(14d - 13e) =
*As an expression*
Answer:
Solution given:-9(14d - 13e) =117e-126d is your answer
What’s the answer?!!!!!!!
Answer:
[tex]yes \\ because \\ 28 ^{2} + {96}^{2} = {100}^{2} [/tex]
A. Right B. Isosceles C. Obtuse O D. Equilateral E. Scalene F. Acute
Answer:
B & C
Step-by-step explanation:
Isosceles- having two sides of the same length
Obtuse- having one obtuse angle and two acute angles
work out the height of this triangle with base, b= 7.7mm and area,A=210.21mm
Answer:
h = 27.3
Step-by-step explanation:
A = bh
h = A/b
h = 210.21 / 7.7
h = 27.3
Kyoko has completed 26 hours of
community service. Her goal is to
complete at least 90 hours this
semester.
Write and solve an inequality to show
how many more hours, h, Kyoko can
complete to meet her goal.
Answer: not sure
Step-by-step explanation:
Answer: 64
Step-by-step explanation:
h + 26 = 90 hours
h + 26 - 26 = 90 - 26
h = 64
find the total cost of a cylindrical block made of playing clay,which costs AED 0.50 per cubic centimeter,if the radius of the block is 1 cm and the length is 12 cm
Answer:
$18.84
Step-by-step explanation:
volume = πr²L = (3.14)(1²)(12) = 37.68 cm³
37.68 cm³ x 0.50 per cm³ = $18.84
Please Thank you so much
Answer:
D
Step-by-step explanation:
Answer:
Step-by-step explanation:
Plz help quickly so I can pass
Answer:
the answer is 24.8
19^2+16^2=617
sqrt of 617 is 24.8
Step-by-step explanation:
What is a decimal that is equivalent to 3722 hundredths?
Answer:
37.22
Step-by-step explanation:
Answer:
37.22
Step-by-step explanation: