You invest $7000 in an account bearing 5% interest for ten years. A. How much will the account be worth if compounded quarterly? What about monthly? Daily? B. What do you notice about the amount of additional money you make as the frequency of compounding increases?

Answers

Answer 1

Answer:quarterly, monthly, daily

Step-by-step explanation:

quarterly: y=7000 (1+.05/4)'10(4)     answer y=11,505.34

monthly: y=7000 (1+.05/12)'10(12)    answer y=11,529.07

daily: y=7000 (1+.05/365)'10(365)    answer y=11,540.65

What do you notice about the amount of additional money you make as the frequency of compounding increases? The account is worth more

Answer 2

The account will be worth approximately $11,505 if compounded quarterly.

The account will also be worth approximately $11,540 if compounded daily.

A. Compounded quarterly:

n = 4 (quarterly compounding)

A = 7000(1 + 0.05/4[tex])^{(4)(10)[/tex]

A ≈ 7000(1.0125)⁴⁰

A ≈ 7000 x 1.643619463

A ≈ 11505.34

The account will be worth approximately $11,505 if compounded quarterly.

B. Compounded monthly:

n = 12 (monthly compounding)

A = 7000(1 + 0.05/12[tex])^{(12)(10)[/tex]

A ≈ 7000(1.00416666667)^(120)

A ≈ 7000 x 1.6487212707

A ≈ 11540.05

The account will be worth approximately $11,540 if compounded monthly.

C. Compounded daily:

n = 365 (daily compounding)

A = 7000(1 + 0.05/365)^(365*10)

A ≈ 7000(1.0001369863)^(3650)

A ≈ 7000 * 1.6487212707

A ≈ 11540.05

The account will also be worth approximately $11,540 if compounded daily.

B. As the frequency of compounding increases, the additional money earned (compared to simple interest) becomes more significant. In this case, regardless of whether the interest is compounded quarterly, monthly, or daily, the resulting values are very close to each other.

Learn more about Compound Interest here:

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Related Questions

Find each value or measure. Assume that segments that appear to be tangent are tangent. Find QS

Answers

Answer:

arc QS = 104°

Step-by-step explanation:

arc QTS = 2(128) = 256

arc QS = 360 - 256 = 104°

The measure of arc length QS is 104.

We have,

An inscribed angle is an angle whose vertex is on the circumference of a circle, and its sides are chords of the circle.

From the definition,

Inscribed angle = 1/2 x intercepted arc

Now,

128 = 1/2 x QTS

QTS = 256

Now,

QTS + QS = 360

256 + QS = 360

QS = 360 - 256

QS = 104

Thus,

The measure of QS is 104.

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Please help I need help

Answers

9514 1404 393

Answer:

  (d)  SA = 36π

Step-by-step explanation:

The surface area of a cylinder is ...

  SA = 2πr(r +h)

Here, the radius is r=2 and the height is 7, so we have ...

  SA = 2π(2)(2+7) = 36π . . . . matches choice D

__

Dimensions are in meters, so area is in square meters.

Solve for c, giving brainliest. please show your work/explain, i got to the point of square rooting 185, but i don't understand where to go from there if it cannot be simplified. Thanks.

Answers

Answer:

13.6 in

Step-by-step explanation:

Please refer to the attachment

PLEASE HELP!! IM BEGGING YOU! ONLY ANSWER IF YOU KNOW AND SHOW YOUR WORK

Answers

Answer: N=25

Solving steps:
2n=50

Divide both sides of the equation by 2

2n\2 =50/2

N=50/2

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Answer All 5 and I will give you brainliest

Answers

Answer: Number 1 is B  Number 2 is D Number 3 is C  Number 4 is D Number 5 is A

Step-by-step explanation:

Help me please thank you

Answers

Nice excellent wonderful

5
If x = 4, what is the value of x(14 - x)?
OA
40
OB
44
16
Math

Answers

Answer:

when x=4

the value of x(14 - x)=4(14-4)=4×10=40

please help me with this question!

Answers

The answer is 8.8

You have to use SohCahToa to figure out the length of AB

Write an equation that you can use to solve for x.

Enter your answer in the box.

Answers

Answer:x= 40

Step-by-step explanation:

x+80+60= 180 (angles on a straight line)

PLEASE HELP ME ASAP I'LL GIVE BRAINLIEST

Answers

Answer:

Y = 6

Step-by-step explanation:

Rearrange terms

4+ =10

+ 4 = 10

Subtract 4  from both sides of the equation:

+ 4 =10

+ 4 −4 = 10 − 4

Simplify: Subtract Numbers:

Solutions is y= 6

Mark opens a bank account with $20. He plans to put in $5 each week.

Complete the table below to show the total amount of money Mark has in his bank account from 0 to 10 weeks.

Time
(weeks)
0
1
2
3
4
5
6
7
8
9
10
Money ($)
$20
Make sure to align the money next to the weeks

Answers

is there a picture you can take so we can see the graph

0:20

1: 25

2:30

3:35

4:40

5:45

6:50

7:65

8:70

9:75

10: 80

hope this helps

Maria rents a skating rink for a party. She p. 59.75 for the rental fee
and $2.50 per hour. Which expression shows the total cost Maria pays to
rent the skating rink for h hours?
A 59.75 +2.50h
B (59.75 +2.50)
© 59.75h + 2.50
D 59.75 -2.50h

Answers

c is the correct answer.

Find the value of x. 120

Answers

Answer:

x = 25

Step-by-step explanation:

2x + 70 = 120      {Subtract 70 from both sides}

        2x = 120 -70

        2x = 50      {divide both sides by 2}

          x = 50/2

x = 25

pls help no wrong answers

Answers

Answer:

angle dgc=90°

angle age=30°

to find=x

angle dgc=angle agb(by vertical opposite angle)

ege is a straight line.

angle age+angle agb+angle bgf=180°[straight line measure 180°]

30°+ 90°+x=180°

120°+x=180°

x=180°-120°

x=60°

Pls Helpp!!! "Olivier has $48.25 to spend on painting classes. Each class costs $6 plus a one-time registration fee of $6.25. Let the variable n represent the number of classes. How many classes can Olivier purchase? Write an equation and show your work."

Answers

Answer:

48.25 - 6.25 -6n, 7 classes

Step-by-step explanation:

mark brainlest

Answer:

The equation: 6n+6.25 = 48.25

Step-by-step explanation:

i searched up the answer here u go

The image below shows a plane slicing a cone.
If the plane does not slice the base, which two-dimensional figures could be the result from slicing a co
a circle or an ellipse
a triangle or a circle
a triangle or a parallelogram
an ellipse or a parallelogram

Answers

A triangle or a parallelogram

Answer: A triangle or a parallelogram

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Answers

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1/27

Step-by-step explanation:

I believe the answer to your question is 1/27

I hope this helps you!

It’s 2/9 I for sure

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below. Help please
X
у
-2
1.5
-1
3
0
6
1
12
2.
24

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Answer: what he said

Step-by-step explanation:

model the decimal . then write percent and fraction equivalents .0.53

Answers

Decimal

Fraction

Percentage

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Answers

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Answers

12 tablespoons is best for the volume of a paper cup have a good day!

A number line contains points Q, R, S, and T. Point Q is on the coordinate 4, R is on the coordinate 8, S is on the coordinate 9, T is on the coordinate 12. Find the probability that a point chosen at random on QT is on ST. Express your answer as a percent.

51.5%
37.5%
25%
44%

Answers

37.5% esa es la respuesta correcta

Answer:

37.5%

Step-by-step explanation:

In a lab experiment, 50 bacteria are placed in a petri dish. The conditions are such that the number of bacteria is able to double every 20 hours. How many bacteria would there be after 8 hours, to the nearest whole number?​

Answers

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y=65.975395539

y≈66

A restaurant bill came to food total of $50 you want to leave a 20% tip for the server how much is the total bill

Answers

Answer:

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Step-by-step explanation:

I THINK THATS IT I DONT REALLY KNOW

Answer:

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Answers

she spent 200 minutes

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Answers

what’s the expression ?

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Answers

Answer:

18 sides

Step-by-step explanation:

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9= 4 + 5 and 9 = 2 +7
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Answers

Answer:

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I will give you brainilest!
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Answers

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15 months

Step-by-step explanation:

in 15 months all of the baby's would have surpassed 20 months old, hope this helps!

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Answers

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Step-by-step explanation:

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