An account is opened with an initial deposit of $1100 and earns 3.7% interest compounded monthly.

What will the account be worth in 15 years?

Round your answer to the nearest cent.

Answers

Answer 1

In 15 years, the account will be worth $1896 if the 3.7% interest is compounded monthly on initial deposit of $1100.

What is compound interest?

It is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on principal plus interest.

Given Data

A =  [tex]P(1+\frac{r}{100} )^{t}[/tex]

P=$1100

r =3.7%

t = 15years

Substitute the values in formula, A = [tex]P(1+\frac{r}{100} )^{t}[/tex]

A= 1100(1+{3.7/100})¹⁵

A = 1100(1+0.037)¹⁵

A = 1100(1.037)¹⁵

A= 1100(1.724)

A= 1896.4

Round off to nearest cent - $1896

Hence, $1896 will the account be worth in 15 years

To learn more about compound interest visit:

https://brainly.com/question/14295570

#SPJ9


Related Questions

When subtracting 2.9 from a certain number, the result is 64.24, as seen below. What number should go in the box to complete the subtraction problem?

The decimal 2.9 is subtracted from an unknown whole number to get 64.24. The unknown whole number has 6 in the tens place, an unknown number in the ones place, 1 in the tenth place, and 4 in the hundredth place.

(5points)
https://lms.lausd.net/assignment/6055492281/assessment#:~:text=When%20subtracting%202.9,Blank%201%3A


Blank 1:

Answers

Answer:

can you take a picture of the sum

7 will go in the box. The full number would be 67.14.

work: 64.24 + 2.9 = 67.14.

what is 8,2 equivalent to

Answers

Answer: 4,6

Step-by-step explanation:

Determine whether the following possible responses should be classified as interval, nominal, ratio or ordinal data The starting salaries of new phd graduates from a statistics program

Answers

The starting salaries of new phd graduates from a statistics program illustrates a ratio data.

How to explain the information?

The four basic levels of measuring scales—nominal, ordinal, interval, and ratio are used to collect data in the form of multiple-choice questions on surveys and questionnaires.

Each scale serves the same purpose as the preceding scale, and all survey question scales are incremental levels of measurement.

Nominal: the data can only be categorized.

Ordinal: the data can be categorized and ranked.

Interval: the data can be categorized and ranked, and evenly spaced.

Ratio: the data can be categorized, ranked, evenly spaced and has a natural zero.

Therefore, the starting salaries of new phd graduates from a statistics program illustrates a ratio data.

Learn more about data on:

https://brainly.com/question/13263387

#SPJ1

please help, it would mean a lot to me! :) I need to understand these type of math problems and I need help on this one! I am having a test next week!

Answers

Answer:

2A/h = b

Step-by-step explanation:

To get b by itself, you have to reverse each operation for the other variables.

h is being multiplied by b here, so to reverse it, you would divide h on both side of the equation. This will give you...

A/h = 1/2b  (h is not on the right side anymore because it got canceled out.)

Next you will get rid of the 1/2 by multiplying both sides of the equation with the reciprocal. The reciprocal of 1/2 is 2/1. This will give you..

2A/h = b  (1/2 is not on the right side anymore because it got canceled out        by 2/1 (1/2 x 2/1 = 1))

Step-by-step explanation:

this is the formula for the area of a triangle :

half off the baseline times the height (to this baseline).

to solve an equation for one variable involved means to end up with only that variable on one side, and everything else on the other side.

the whole time we keep the equality alive, so any change done on one side has to be done on the other side as well.

A = 1/2 × b × h

to solve for b means we want to get rid of the 1/2 and the h factor.

let's start with the 1/2 factor : we multiply both sides by 2.

2A = b × h

and to get rid of h, we need to divide both sides by h :

2A/h = b

and that's it.

Ken received his bank statement in the mail and checked it to verify his recent pay increase.
Ken has direct deposit so his paycheck is sent electronically to his account. The previous
month's pay was $5,320.10. Ken's account activity showed a $651.22 previous balance,
checks of $5,211.39, ATM withdrawals of $250 and a service charge of $4.50. If Ken's new
balance is $982.01, what increase in pay was direct deposited?

Answers

The pay increase that was directly deposited into Ken's account is $476.58.

In the question, we are asked to find the pay increase, that was directly posited in Ken's account, given that Ken received his bank statement in the mail and checked it to verify his recent pay increase. He has direct deposit so his paycheck is sent electronically to his account. The previous month's pay was $5,320.10. His account activity showed a $651.22 previous balance, checks of $5,211.39, ATM withdrawals of $250, and a service charger of $4.50. Also, we are informed that his new balance was $982.01.

We assume the pay increase to be $x.

Thus, his this month's pay will be $(5,320.10 + x).

This will be added in his previous month's balance, to get $651.22 + $(5,320.10 + x) = $(5,971.32 + x).

Now, the check of $5,211.39, ATM withdrawal of $250, and the service charge of $4.50 will be deducted from this to get $(5,971.32 + x) - $5,211.39 - $250 - $4.50 = $(505.43 + x).

This is the final balance of Ken's account.

But, we are given that Ken's new balance was $982.01.

Thus, we get an equation 505.43 + x = 982.01, which can be solved by subtracting 505.43 from both sides to get:

505.43 + x - 505.43 = 982.01 - 505.43,

or, x = 476.58.

Thus, the pay increase that was directly deposited into Ken's account is $476.58.

Learn more about equations at

https://brainly.com/question/15268136

#SPJ9

What is the value of g(1) for the function g(x) = 2x + 5?

Α. 7
B. 8
C. 26
D. 27

Answers

The answer is A. When you substitute 1 for x and solve it should look like this: 2(1) +5 = 7

Leon draws there height shown in the parallelogram. He estimates that the height is about 5 units long. Is Leon’s estimate reasonable? Explain.

Answers

Based on the given parallelogram, a height of 5 units long as estimated by Leon is not reasonable.

What is the height of the parallelogram?

The height of the parallelogram can be found by counting the number of squares from the base of the parallelogram to the top. The squares are given in the graph which is shown attached.

When this counting is done, we get 6 squares.

6 units is therefore the height of the parallelogram which means that Leon's estimate of 5 units is therefore not reasonable.

In conclusion, Leon's estimate is not a reasonable estimate.

Find out more on estimated height at https://brainly.com/question/14929875

#SPJ1

Which one is function?

Answers

Answer:

a

Step-by-step explanation:

there are not two points on the same line.

A student takes out 2 loans to pay for college. One loan at 9% interest and the other at 12% interest.

The total amount borrowed is $65,000, and the interest after 1 year for both loans is $6,360.

Find the amount of each loan.

Answers

The loan amount at 9% interest is $48,000.

The loan amount at 12% interest is $17,000

What are the loan amounts?

The first step is to form a system of equations that can be used to determine the required values:

0.09a + 0.12b = $6,360 equation 1

a + b = $65,000 equation 2

Where:

a = amount of the loan at 9% interest

b = amount of the loan at 12% interest

What is each loan amount?

Multiply equation 2 by 0.09

0.09a + 0.09b = 5850 equation 3

Subtract equation 3 from equation 2

0.03b = 510

Divide both sides of the equation by 0.03

b = 510 / 0.03

b = $17,000

Subtract 17,000 from 65,000

a = 65,000 - 17,000

a = $48,000

To learn more about system of equations, please check:

https://brainly.com/question/25875552

#SPJ1

A bag contains 2 gold marbles, 7 silver marbles, and 21 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $4. If it is silver, you win $2. If it is black, you lose $1. What is your expected value if you play this game?

Answers

The expected value if i play this game is 1/30 dollars.

What is probability ?

Probability is the occurrence of a certain event out of the total events that can happen on a given satiation.

According to the given question A bag contains 2 gold marbles, 7 silver marbles, and 21 black marbles.

No. of sample space N(s) = 2 + 7 + 21 = 30.

No. of gold marbles N(g) = 2.

No. of silver marbles N(sil) = 7.

No. of black marbles N(b) = 21.

We know,

P(g) = N(g)/N(s) = 2/30 = 1/15.

P(sil) = N(sil)/N(s) = 7/30.

P(b) = N(b)/N(s) = 21/30 = 7/10.

Given if it is gold, you win 4dollars. If it is silver, you win 2 dollars. If it is black, you lose 1 dollars.

The expected value if you play this game is

= 4P(g) + 2P(sil) - 1P(b)

= 4(1/15) + 2(7/30) - 1(7/10).

= 4/15 + 14/30 - 7/10.

= (8+14-21)/30.

= 1/30 dollars.

learn more about probability here :

https://brainly.com/question/11034287

#SPJ1

Confused please help

Answers

Answer:

Step-by-step explanation:

if you are trying to find x in the equation

3(2x+2)-3x= 6+3x you have to distribute the 3 (which you did correctly.)

6x+6-3x=6+3x

what you did wrong was canceling out the threes. you cannot cancel out the threes here because the one on the left is negative. What you should do is add 3x to each side like this.

6x+6-3x=6+3x

+3x +3x

6x+6=6+6x

since both sides are equal and we obtain 0=0, this means the equation is in fact an identity which is true for all values of x.

PLEASE HELPPP!!! Which expression is equivalent to sum of quantity negative three and one third times n plus one sixth end quantity plus quantity one and three sixths times n minus three twelfths end quantity?

A. negative twenty nine sixths times n minus one twelfth (-29/6n- 1/12)
B.negative twenty nine sixths times n plus one twelfth( -29/6n + 1/12)
C. negative eleven sixths times n minus one twelfth (-11/6n-1/12)
D.negative eleven sixths times n plus five twelfths ( -11/6n + 5/12

Answers

The given expression is equivalent to the expression - 11/6 n - 1/12. Then the correct option is C.

What is Algebra?

The analysis of mathematical representations is algebra, and the handling of those symbols is logic.

The sum of capacity minus three and one-third times n plus one-sixth ended capacity + capacity one and three-sixths times n minus three-twelfths end quantity.

Let n be the number. Then the expression will be

⇒ -(3  1/3)n + 1/6 + (1  3/6)n - 3/12

Simplify the equation, then we have

⇒ -(3  1/3)n + 1/6 + (1  3/6)n - 3/12

⇒ -10/3 n + 3/2 n + 1/6 - 1/4

⇒ -11/6 n - 1/12

The given expression is equivalent to the expression - 11/6 n - 1/12. Then the correct option is C.

More about the Algebra link is given below.

https://brainly.com/question/953809

#SPJ1

Melissa bought 36 pine seedlings and 30 juniper seedlings to plant in rows on her tree farm. She wants each row to have the same number of seedlings. She wants only one type of seedling in each row. What is the greatest number of seedlings she can plant in each row? How many rows of each type of tree will there be? Each row will contain rows of juniper seedlings. seedlings. ​

Answers

She can plant maximum of 6 seedlings in each row. There can be 6 rows of pine seedlings and 5 rows of juniper seedlings.

The Highest Common Factor (HCF) of two numbers is the highest possible number that divides both the numbers completely.

Given: 36 pine seedlings and 30 juniper seedlings and Melissa wants each row to have the same number of seedlings with only one type of seedling in each row.

The greatest number of seedlings that can be planted in each row can be calculated by HCF.

HCF of 36 and 30:

36= 2*2*3*3

30=2*3*5

HCF is 2*3=6

Number of rows of pine seedlings= [tex]\frac{36}{6}[/tex]

=6

Number of rows of juniper seedlings= [tex]\frac{30}{6}[/tex]

=5

Hence, she can plant 6 seedlings in a row. There will be 6 rows of pine seedlings and 5 rows of juniper seedlings.

To know more about the HCF, visit: https://brainly.com/question/17240111

#SPJ9

A jar has marbles in these three colors only: 5 green, 3 blue, 7 red.
What is the probability of randomly choosing a red and then a green marble? You
keep the red marble after choosing it.

Answers

Answer:

Probability of choosing a red marbles = 7/15

Probability of choosing a green marble = 5/15

Step-by-step explanation:

Formula = Marble/Total of the whole marble

= red marbles /Total of the whole marble

= 7/15

AND

green marble/Total of the whole marble

= 5/15

the formula for the volume of a rectanglular prism is given by
V=lwh
where V is volume, l is length, w is width, and h is height.
a) solve for L if V=120, w=6, and h=4
l=
b) solve for L in general.
l=

Answers

Answer:

Step-by-step explanation:

V=lwh

120=l(6)(4)

120=24I

[tex]\frac{120}{24} =\frac{24I}{24} \\I=5[/tex]

Answer:

V=lwh

120=l(6)(4)

120=24I\begin{gathered}\frac{120}{24} =\frac{24I}{24} \\I=5\end{gathered}

The zeros of a 5-th degree polynomial are 2,i,-2i. Find the remaining zeros.

Answers

Answer:

-i,2i

Step-by-step explanation:

zeros(2,i,-2i {5th degree}

then the conjugate zeroes are,

I,2i {conjugate zeros}

so the answer is i, 2i

what is 38-12x3 equal

Answers

Answer: 2

Step-by-step explanation: 12 x 3 first becuase pemdas

Zachary Company reported the following data regarding the product it sells: Sales price $48 Contribution margin ratio 25% Fixed costs $336,000 Required Use the contribution margin ratio approach and consider each requirement separately. What is the break-even point in dollars? In units?

Answers

Answer:

The break-even point in dollars is 1,344,000 and in units is 28,000. The break-even point is calculated by dividing the fixed costs by the contribution margin. In this case, 336,000 ÷ .25 = 1,344,000. The break-even point in units is then calculated by dividing the break-even point in dollars by the sales price. In this case, 1,344,000 ÷ 48 = 28,000.

Step-by-step explanation:

Give me brainliest if that helped :)

Write the Write the rational number -3.5
using quotients of the form
. Use the integers below.rational number using quotients of the form . Use the integers below.

Answers

The quotient form of given rational number is -7/2.

Given the rational number is -3.5.

Here, we want to write the quotient form of the given rational number.

rational numbers, in arithmetic, a number that can be expressed as the quotient p/q of two integers such that q ≠ 0.

Number 3.5 is a rational number. As we know rational numbers can also be expressed as decimals with repeating digits after the decimal point. The number7/2 is the ratio of two integers that are 7 integers divided by 2 integers and expressed in fraction (as p/q where q is not equal to 0).

Hence, the quotient form of the given rational number -3.5 is -7/2.

Learn more about the rational number from here brainly.com/question/27904736

#SPJ9

Multiply these polynomials using the FOIL method and the answer should be a polynomial as well.
[tex]( m^{\frac{1}{3} } + y^{-\frac{1}{2} } )^{2}[/tex]

Answers

The answer to the expression is m^2/3 + 2 * m^1/3 *  y^(-1/2)  + 1/y

What is FOIL?

FOIL is a mnemonic for the standard method of multiplying two binomials, hence the method may be referred to as the FOIL method. The word FOIL is an acronym for the four terms of the product: First (“first” terms of each binomial are multiplied together)

given:

(m^1/3 + y^(-1/2))^2

we can write it as

(m^1/3 + y^(-1/2))*(m^1/3 + y^(-1/2))

=m^1/3 * m^1/3 + m^1/3 *  y^(-1/2) + y^(-1/2) * y^(-1/2) + y^(-1/2)*m^1/3

=m^2/3 + m^1/3 *  y^(-1/2) + 1/y +  y^(-1/2)*m^1/3

= m^2/3 + 2 * m^1/3 *  y^(-1/2)  + 1/y

Hence, the answer to the expression is m^2/3 + 2 * m^1/3 *  y^(-1/2)  + 1/y

Learn more about FOIL here:

https://brainly.com/question/21314184

#SPJ1

If f(x) = x³ +8, g(x) = x - 2, h(x) = √, then (fogoh)(x)=

Answers

The value of (fogoh)(x) is [tex]\sqrt{x^{3} }[/tex] + 6x + 12[tex]\sqrt{x}[/tex]

Here, we are given 3 functions as listed below:

f(x) = [tex]x^{3}[/tex] +8

g(x) = x - 2

and, h(x) = [tex]\sqrt{x}[/tex]

now, (fogoh)(x) can be written as follows-

f[g{h(x)}] = f{g([tex]\sqrt{x}[/tex])}

here, g([tex]\sqrt{x}[/tex]) = [tex]\sqrt{x}[/tex] - 2

Thus, f{g([tex]\sqrt{x}[/tex])} = f([tex]\sqrt{x}[/tex] - 2)

Substituting x = [tex]\sqrt{x}[/tex] - 2 in the function f(x) we get,

[tex](\sqrt{x} - 2)^{3}[/tex]+8

using the algebraic property [tex](a+b)^{3}[/tex] = [tex]a^{3} + b^{3}[/tex] + 3ab(a + b), we get-

= [tex]\sqrt{x^{3} }[/tex] - [tex]2^{3}[/tex] + 3[tex]\sqrt{x}[/tex](-2){[tex]\sqrt{x}[/tex] - 2} + 8

= [tex]\sqrt{x^{3} }[/tex] - 8 + 6x + 12[tex]\sqrt{x}[/tex] + 8

= [tex]\sqrt{x^{3} }[/tex] + 6x + 12[tex]\sqrt{x}[/tex]

Thus the value of (fogoh)(x) = [tex]\sqrt{x^{3} }[/tex] + 6x +12[tex]\sqrt{x}[/tex]

Learn more about composite functions here-

brainly.com/question/10687170

#SPJ9


A picture frame has a width of 2 inches. If the area of the frame is 128 square inches, and if the picture
itself is 4 inches longer than it is wide, what are the dimensions of the Picture

Answers

The dimensions of the picture will be 60 inches and 2 inches.

We are given that:

The width of the frame is = 2 inches.

The area of the frame is 128 inches².

Let the length of the frame be x.

So, according to the question, we get the length of the picture as:

length = x + 4

Area of picture frame = l × b

128 = (x + 4) × 2

128 = 2 x + 8

2 x = 128 - 8

2 x = 120

x = 120 / 2

x = 60 inches.

Therefore, the dimensions of the picture will be 60 inches and 2 inches.

Learn more about area here:

https://brainly.com/question/25292087

#SPJ1

rewrite 100 as a base and exponent without using an exponent of 1

Answers

Answer:

10^2

Step-by-step explanation:

Simplify by reducing the index of th
21/ 15
√X

Answers

Answer:

simplify the reducing the index of the

21/15√x

Step-by-step explanation:

Answer:

26

Step-by-step explanation:

Diana, Elsa, Flora and Hannah agreed to share the cost of a present equally for their mother. Hannah did not bring her money so the other 3 sisters paid for her share. Flora paid 4/5 of what Diana and Elsa paid. Diana paid $10 less than Elsa. The ratio of Diana and Elsa share is 1:4. When they reached home, Hannah returned her sisters' their share of money. Hannah returned Flora $84. (a) How much did Diana and Elsa pay altogether? (b) How much did Hannah pay Diana?​

Answers

Using proportions, it is found that:

a) Diana and Elsa paid $105 altogether.

b) Hannah paid Diana $21.

What is a proportion?

A proportion is a fraction of a total amount, and the measures are related using a rule of three. Due to this, relations between variables, either direct(when both increase or both decrease) or inverse proportional(when one increases and the other decreases, or vice versa), can be built to find the desired measures in the problem, or equations to find these measures.

Hannah returned Flora $84, and Flora paid 4/5 of what Diana and Elsa paid, hence the amount Diana and Elsa received by Hannah is given as follows:

4/5x = 84

0.8x = 84

x = 84/0.8

x = 105.

Hence Diana and Elsa paid $105 altogether.

For item b, we have that the ratio of Diana and Elsa share is 1:4, hence Diana got 1/5 of the amount paid by Hannah, hence:

1/5 x 105 = 21.

Hannah paid Diana $21.

More can be learned about proportions at https://brainly.com/question/24372153

#SPJ1

Find the following given the function f(x)=

Answers

Answer:

[tex]-\frac{3+\sqrt{5}}{4}[/tex]

Step-by-step explanation:

[tex]\sqrt{20} \leq 5 \implies f(\sqrt{20})=\frac{2}{\sqrt{20}-6} \\ \\ =\frac{1}{\sqrt{5}-3} \\ \\ =\frac{\sqrt{5}+3}{-4} \\ \\ =-\frac{3+\sqrt{5}}{4}[/tex]

5 out of every 8 students sureyed owns a bicycle. There are 65 bicycles. How many students were surveyed?

Answers

Answer:

104

Step-by-step explanation:

You would do this by diving 65 by 5, you get 13 then multiple that by 8.

A ball is accidentally dropped from the top of a tall building. It took 3.0 secs for the ball to hit the ground. The acceleration of gravity is g = 10 m/sec². Find the initial height from which the ball was dropped.​

Answers

Answer:

[tex]{ \rm{s = ut + \frac{1}{2} {at}^{2} }} \\ \\ { \rm{h = 0 + \frac{1}{2} \times 10 \times {3}^{2} }} \\ \\ { \tt{h = 5 \times 9}} \\ { \tt{h = 45 \: m}}[/tex]

Kyle wants to buy a television on a hire purchase agreement. The cash price of the television is R5 600 R5 600. She is required to pay a deposit of 15%
15% and pay the remaining loan amount off over 24 24 months at an interest rate of 14% 14% p.a.
What are Kyle's monthly repayments?

Answers

The monthly repayment Kyle has to pay on the television based on the hire purchase agreement is R229.

What is the monthly repayment?

The monthly repayment is the amount to be paid monthly with interest on the given loan amount.

We have,

Price of the television = R5600

Deposit amount:

= 15% of 5600

= 15/100 x 5600

= 0.15 × 5600

= 840

Now,

The remaining amount:

= 5600 - 840

= 4760

The monthly repayment amount of 14% per annum is:

A = [ P( R/12 )( 1 - R/12 [tex])^{n}[/tex] ] / ( 1 + r/12 [tex])^{n}[/tex] - 1

A =  [ 4760 ( 0.14/12 )( 1 - 0.14/12 [tex])^{24}[/tex] ] / [ ( 1 + 0.14/12 [tex])^{24}[/tex] - 1 ]

A = 228.54

A ≅ 229

Thus the monthly repayment Kyle has to pay on the television based on the hire purchase agreement is R229.

Learn more about monthly repayment here:

https://brainly.com/question/24722259

#SPJ1

im confused on this !

Answers

Answer:

P = 35x + 18(140-x)

Step-by-step explanation:

I think they are just asking for the expression, not to solve it.  We would need more info (like the total profit) to solve it.

Other Questions
Solve the equation for x. Show work3.5(x +2) = 17 What is another explanation for how bacteria could be showing up on the stomach biopsy slides? Top management compensation cost is an example of ________ in the cost hierarchy. a. unitlevel costs b. facilitysustaining costs c. productsustaining costs d. batchlevel costs Evaluate:1.62 +3.5 = If f(x)=9, find f^-1(33) Every particle of matter in the universe attracts every other particle with a force that is directly proportional to the product of the masses of the particles and inversely proportional to the square of the distance between them. True or false?. What were George Washingtons contributions in the French and Indian War?(Answer in complete sentences) What role does the cpa canada handbookassurance have in the professional activities of public accountants in canada? How can you know if you've written an effective thesis statement? 55.252 + 2.983 + 16.304 = ? Journal about Agnes finds megrade 8 What is the equation of the line that passes through the point (8,3) and has a slope of -1/4 What are some shower thoughts (**) Calcula la altura de un cono si el dimetro mide 30 cm y su generatriz 17 cm . Which of the following statements is TRUE?A. When muscles contract they become longer.B. Involuntary muscle can be identified by its unique striped appearance.C. The biceps and quadriceps are an antagonistic pair.D. The origin of a muscle is attached to the bone that does NOT move. When two amino acid monomers are positioned so that the carboxyl group of one is adjacent to the amino group of the other, they can be joined through a reaction. True or false?. The tissue that always has a free surface exposed to the internal or external environment is:________ received cheque from G Smart for 315, in full settlement of a debt of 344; this was paid directly into the bank. How do we record this in a trial balance. Help it is due tonight (Should students textbooks be replaced by notebook computers? Write your opinion in not more than 150 -200 words) Draft an opinion paragraph for grade 7