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Use the formula A = P( 1 + r/n)^(nt) to calculate the balance A of an investment (in dollars) when P = $4000, r = 4%, and t= 10years, and compunding is done by the day, by the hour, by the minute, and by the second. (Round your answers to the nearest cent).

a. compounding by the day: A= $

b. compounding by the hour: A= $

c. compounding by the minute: A= $

d. compounding by the second: A= $


Does increasing the number of compoundings per year result in unlimited growth of the balance? yes or no (choose one)

Answers

Answer 1

Answer:

a. compounding by the day: A = $5967.17

b. compounding by the hour: A = $5967.29

c. compounding by the minute: A = $5967.30

d. compounding by the second: A = $5967.30

Step-by-step explanation:

     

[tex]\boxed{\begin{minipage}{8.5 cm}\underline{Compound Interest Formula}\\\\$ A=P\left(1+\frac{r}{n}\right)^{nt}$\\\\where:\\\\ \phantom{ww}$\bullet$ $A =$ final amount \\ \phantom{ww}$\bullet$ $P =$ principal amount \\ \phantom{ww}$\bullet$ $r =$ interest rate (in decimal form) \\ \phantom{ww}$\bullet$ $n =$ number of times interest is applied per year \\ \phantom{ww}$\bullet$ $t =$ time (in years) \\ \end{minipage}}[/tex]

Part (a)

If the interest is compounding by the day then n = 365.

Given:

P = $4000r = 4% = 0.04n = 365t = 10 years                  

Substitute the values into the compound interest formula and solve for A:

[tex]\implies A=4000\left(1+\dfrac{0.04}{365}\right)^{365 \times 10}[/tex]

[tex]\implies A=4000\left(1.00010958...\right)^{3650}[/tex]

[tex]\implies A=4000(1.49179200...)[/tex]

[tex]\implies A=5967.16801...[/tex]

[tex]\implies A=\$5967.17[/tex]

Part (b)

If the interest is compounding by the hour then:

n = 365 × 24 = 8760

Given:

P = $4000r = 4% = 0.04n = 8760t = 10 years                  

Substitute the values into the compound interest formula and solve for A:

[tex]\implies A=4000\left(1+\dfrac{0.04}{8760}\right)^{8760 \times 10}[/tex]

[tex]\implies A=4000\left(1.00000456...\right)^{87600}[/tex]

[tex]\implies A=4000\left(1.49182333...\right)[/tex]

[tex]\implies A=5967.29333...[/tex]

[tex]\implies A=\$5967.29[/tex]

Part (c)

If the interest is compounding by the minute then:

n = 365 × 24 × 60 = 525600

Given:

P = $4000r = 4% = 0.04n = 525600t = 10 years          

Substitute the values into the compound interest formula and solve for A:

[tex]\implies A=4000\left(1+\dfrac{0.04}{525600}\right)^{525600 \times 10}[/tex]

[tex]\implies A=4000\left(1.00000007...\right)^{5256000}[/tex]

[tex]\implies A=4000(1.49182466...)[/tex]

[tex]\implies A=5967.29867...[/tex]

[tex]\implies A=\$5967.30[/tex]

Part (d)

If the interest is compounding by the second then:

n = 365 × 24 × 60 × 60 = 31536000

Given:

P = $4000r = 4% = 0.04n = 31536000t = 10 years                  

Substitute the values into the compound interest formula and solve for A:

[tex]\implies A=4000\left(1+\dfrac{0.04}{31536000}\right)^{31536000 \times 10}[/tex]

[tex]\implies A=4000\left(1.00000000...\right)^{315360000}[/tex]

[tex]\implies A=4000\left(1.49182390...\right)[/tex]

[tex]\implies A=5967.29562...[/tex]

[tex]\implies A=\$5967.30[/tex]

The more compounding periods throughout the year, the higher the future value of the investment.  However, the difference between compounding by the day and compounding by the second results in a difference of 13 cents over the year, which is negligible comparatively.


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Answers

Step-by-step explanation:

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Step-by-step explanation:

Answer:

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Step-by-step explanation:

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Answers

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Answers

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Answer:

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Step-by-step explanation:

The number of students in grade 11-12 is given in the total column: 120.

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Step-by-step explanation:

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Answers

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The U.S. Energy Information Administration claimed that U.S. residential customers used an average of 10,941 kilowatt hours (kWh) of electricity this year. A local power company believes that residents in their area use more electricity on average than EIA's reported average. To test their claim, the company chooses a random sample of 115 of their customers and calculates that these customers used an average of 11,425kWh of electricity last year. Assuming that the population standard deviation is 3217kWh, is there sufficient evidence to support the power company's claim at the 0.02 level of significance

Answers

Answer:

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Step-by-step explanation:

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[tex]H_a: \mu > 10941[/tex]

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Answers

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Answers

Answer:

A

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Answers

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Answers

Answer:

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Step-by-step explanation:

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Answers

Answer:

$12

Step-by-step explanation:

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(16/4) x 3 = 4 x 3 = $12

Answer:

It will cost $12 to purchase 3/4 of the pan of brownies

Step-by-step explanation:

3/4 of 16 is equal to 12.

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Suppose that a random sample of ​twenty-year-old men is selected from a population and that these​ men's height and weight are recorded. A regression of weight on height yields ​, where Weight is measured in pounds and Height is measured in inches. What is the​ regressions weight prediction for someone who is inches​ tall

Answers

Answer:

Hello your question is incomplete attached below is the complete question

answer : 192.15 pounds

Step-by-step explanation:

Given :

weight =  - 99.41 + 3.94*Height

R^2 = 0.81

SER = 10.2

Determine the regression weight prediction

Height of man = 74 inches

Hence : weight = - 99.41 + 3.94 * 74 = 192.15

therefore the regression weight prediction = 192.15 pounds

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Answers

Answer:

least common denominator = 7y

Step-by-step explanation:

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Answers

Answer:

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Answers

Answer:

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Step-by-step explanation:

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A bottle contains 750mL of fruit punch with a concentration of 50% pure fruit juice. Johan
drinks 100mL of the punch and then refills the bottle with an equal amount of a cheaper
brand of punch. If the concentration of juice in the bottle is now reduce to 48%, what was
the concentration in the punch that Johan added?​

Answers

Answer:

The juice concentration in the punch that Johan added was 35%.

Step-by-step explanation:

Since a bottle contains 750mL of fruit punch with a concentration of 50% pure fruit juice, and Johan drinks 100mL of the punch and then refills the bottle with an equal amount of a cheaper brand of punch, if the concentration of juice in the bottle is now reduced to 48%, to determine what was the concentration in the punch that Johan added, the following calculation must be performed:

750 = 100

650 = X

650 x 100/750 = X

65000/750 = X

86,666 = X

86.666 x 0.5 + 13.333 x 0.4 = 0.486662

86.666 x 0.5 + 13.333 x 0.39 = 0.4853287

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Thus, the juice concentration in the punch that Johan added was 35%.

Write the equation of the line in fully simplified slope-intercept form.

Answers

ANSWER: y=4/3x-7

Reasoning: slope is 4/3 (change in y over change in x)
The y intercept is a -7
Then you just fill in the equation

⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️HELP HELP HELP HELP HELP HELP HELP - A right triangle has a leg length of 21 inches and a hypotenuse length of 29 inches. What is the length of the other leg? *

Answers

Answer:

[tex]20[/tex]

Step-by-step-Explanation:

Remember, the Pythagorean Theorem.

[tex]a^{2} + b^{2} = c^{2}[/tex]

[tex]21^{2} + b^{2}=29^{2}[/tex]

[tex]29^{2} -21^{2} =400[/tex]

sq rt of [tex]400=20[/tex]

Shshshehehehhshehesjhshshahagaga

Answers

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