Omar wants to open an account for his grandchildren that he hopes will have
$80,000 in it after 20 years. How much must he deposit now into an account
that yields 1.75% interest, compounded monthly, so he can be assured of
reaching his goal?

Answers

Answer 1

Using compound interest, it is found that he must deposit $56,389.

Compound interest:

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

A(t) is the amount of money after t years.  P is the principal(the initial sum of money).  r is the interest rate(as a decimal value).  n is the number of times that interest is compounded per year.  t is the time in years for which the money is invested or borrowed.

In this problem:

Hopes to have $80,000 in 20 years, thus [tex]t = 20, A(t) = 80000[/tex].Interest rate of 1.75%, thus [tex]r = 0.0175[/tex].Compounding monthly, thus [tex]n = 12[/tex]The investment is of P, for which we have to solve.

Then:

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

[tex]80000 = P(1 + \frac{0.0175}{12})^{12(20)}[/tex]

[tex]P = \frac{80000}{(1 + \frac{0.0175}{12})^{12(20)}}[/tex]

[tex]P = 56389[/tex]

He must deposit $56,389.

A similar problem is given at https://brainly.com/question/25263233


Related Questions

5x(6x2 -3x4+7x3)-20 x3 -3_x4

Answers

Answer:

[tex]30x^3-15x^5+35x^4-43[/tex]

Step-by-step explanation:

[tex]30x^3-15x^5+35x^4-43[/tex]

Use the distributive rule and distribute 5x into the brackets. Then use the order of operation rule to do what is after the brackets.

3. The difference of two-thirds of a number x and
6 is at least -24. Which inequality represents all
possible values for x?

Answers

2/3x+ _< -24 then 2/3x _< -30 then 1/3x _< -15 so x >_ -45

The inequality that represents all possible values for x is  x ≥ -27.

What is linear inequality?

Linear inequality refers to the relation between a linear algebraic expression to some known value that contains inequality sign.

Unlike a linear equation it can have a range of values inside an interval.

The given statement can be written in terms of inequality as,

2/3x - 6 ≥ -24

=> 2/3x  ≥ -24 + 6

=> 2/3x  ≥ -18

=> x ≥ -27

Hence, the inequality expression for the given problem can be written as x ≥ -27.

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If x2 + y2 = 14 and xy = 5, find the value of (1/2 x + 1/2 y)2.

Answers

Answer:

(½x+½y)²=6

Step-by-step explanation:

x^2 + y^2 = 14, xy=5

(A+B)^2=A^2 +2AB+B^2... (*)

(1/2x+1/2y)^2 =(*)

(1/2x)^2 +2(1/2x)(1/2y)+(1/2y)^2 =

1/4x^2 +1/2xy+1/4y^2=

1/4(x^2 +y^2) +1/2(xy)=

1/4*14+1/2*5=

14/4+5/2=

14/4+10/4=

24/4=6

let me know if I'm wrong.

( 1/2x +1/2y)²

= { ( x + y )/ 2xy }²

= ( x² + 2xy + y² )/4(xy)² —(1)

As we know that x² + y² = 14 — (2)

and xy = 5 —(3)

So, substitute the value of equation 2 and 3 in equation 1,

= ( x² + 2xy + y²)/4(xy)²

=( 14 + 2*5)/(4*5²)

= 24/(4*25)

= 6/25.

It is a three-digit whole number.
It is divisible by 7.
It is divisible by 9.
It is divisible by 11.
It is divisible by 3.
It is not divisible by 5.
It is not divisible by 4.
It is not divisible by 6.
It is greater than 500.
It is an odd number.

Answers

Answer:

Do you have answer choices?

Step-by-step explanation:

Answer:

2079

Step-by-step explanation:

The value of 10^4 is 10,000. Use this fact to change 5.2 x 10^4 to standard notation. 5.2 x 10^4 = 5.2 x ____ =?​

Answers

Step-by-step explanation:

5.2 × 10000

yep that is the answer

Answer:10,000. i think

Step-by-step explanation: Example: 104 = 10 × 10 × 10 × 10 = 10,000.

y = 2/5x -1/2 + y = -1/3x + 2/3 combine like terms​

Answers

Answer:

2

Step-by-step explanation:

Answer:

2

Step-by-step explanation:

Have a nice rest of your day

#Nova

How do you compare exponential functions??

I really don't understand, also giving brainliest!!

Answers

Answer:

You compare it by this

Step-by-step explanation:

Linear functions are graphed as straight lines while exponential functions are curved. Linear functions are typically in the form y = mx + b, which is used to discover the slope, or simply the change in y divided by the change in x, while exponential functions are typically in the form y = (1 + r) x.

Tom made $90 for 5 hours of work.
At the same rate, how many hours would he have to work to make $126?

Answers

7 Hours

Step-by-step explanation:

Very simple, 90/5 is 18, so that means Tom makes 18 dollars an hour, multiply 18 by 7 and you get 126.

(Thanks and Brainiest Appreciated)

Show how 12 is both a multiple of 4 and a factor of 48. Use words, drawings and symbols to explain your answer

Answers

Answer:

4x3=12

12x4=48

48/12=4

48/4=12

Step-by-step explanation:

It is multie bc four a factor of 12

These triangles
are congruent by
the triangle
congruence
postulate [? ]
A. SSS
B. SAS
C. Neither, they are not congruent

Answers

Answer:

A

Step-by-step explanation:

The markings indicate that all three sides of each triangle correspond with one another meaning that they are congruent by the SSS (Side, Side, Side) postulate.

the angles of a triangle measure 4 degrees,86 degrees, and 90 degrees.

Answers

Answer:

It is a right angled triangle.

Step-by-step explanation:

Because it has 90° angle in it.

Hope it helps..!!<3

Anne goes out to lunch every Friday. On average she spends around
$18 each time, How much money can she save in one year if she
stops going out for lunch each week?

Answers

Answer:

$936

Step-by-step explanation:

there are about 52 weeks in a year

18*52=936

Hope this helps!

936……………………………………………

this is algebra 1 id appreciate it if you could help me thx!

Answers

Answer:

Option 4)  y - 1 = -2(x - 0)

Step-by-step explanation:

Given the slope, m = -2, and the y-intercept, (0, 1):

Substitute these values into the following point-slope form:

y - y1 = m(x - x1)

y - 1 = -2(x - 0)  ← This is the point-slope form given the slope, m = -2, and the y-intercept, (0, 1).

Therefore, the correct answer is Option 4: y - 1 = -2(x - 0)

Which of the following represents the area of a rectangle whose length is x − 6 and whose width is x − 8? (1 point)

x2− 14x − 48
x2+ 48
x2− 48
x2− 14x + 48

Answers

Answer:

x²-14x+48

Step-by-step explanation:

Area= Length × Width

Area= x-6 × x-8

Area= (x-6)(x-8)

Area= x²-8x-6x+48

Area= x²-14x+48

Hope this helped you- have a good day bro cya)

negative2 - 7 is equvilent to

Answers

Answer:-5

Step-by-step explanation:

Answer:

-9

Step-by-step explanation:

-2 - 7

Picture a number line in your head, you begin at negative 2, which is less than 0 and you further go left 7 points, so you will end at -9

Solve for a. -16-7a=5

Answers

Answer:

A = -3

Step-by-step explanation:

-16-7(-3)=5

Guys can u please help i can explain it so i gotta send a photo i always give hearts and 5 stars :D the photo is down below

Answers

Answer:

5x cm

Step-by-step explanation:

Total length of AE = 2x + 3x

= 5x cm

Amy contributes $50 per month into the Lincoln National Bond Fund that earns 7.26% annual interest.What is the value of Amy’s investment after 25 years?

Answers

Answer:

Inc Interest : $16,089

Step-by-step explanation:

1. Let's turn $50 a month into a year, so 50 * 12 = $600

2. Including the annual interest, which is $43.56 out of the $600

3. Add them together, which will be 43.56 + 600 = 643.56

4. Multiply it by 25 to get the full 25 years and you're done!

The value of Amy's investment after 25 years will be $140.75.

What is simple interest?

Simple interest is calculated just on the loan's principal amount, whereas compound interest is calculated on both the principal and the cumulative interest. The straightforward crediting of cash flows related to an investment or deposit is referred to as "simple" interest.

Given that, Amy contributes $50 per month to the Lincoln National Bond Fund which earns 7.26% annual interest.

The investment after 25 years will be calculated as,

SI = ( P x R x T)/100

SI = ( 50 x 7.26 x 25 ) / 100

SI = $90.75

The total investment will be calculated as,

A = $90.75 = $50

A = $140.75

Therefore, the value of Amy's investment after 25 years will be $140.75.

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Select the correct answer.
Which statement is true about the graph of this equation?

y + 4 = 4(x + 1)

A.
The graph is a line that goes through the points (1,-4) and (0,0).
B.
The graph is a line that goes through the points (1,4) and (2,8).
C.
The graph is a line that goes through the points (-4,-1) and (-3,-3).
D.
The graph is a line that goes through the points (4,1) and (5,5).

Answers

The answer is B
I hope this helped you !!

Answer:

A

Step-by-step explanation:

The graph is a line that goes through the points (1,-4) and (0,0)

A pair of pants that regularly costs $55 are on sale for 35% off the regular price. What is the sale price of the pants?​

Answers

Answer:

$35.75

Step-by-step explanation:

100-35=65

.65 x 55 = 35.75

Answer:

$35.75

Step-by-step explanation:

35% converted to decimal is .35

55x.35= 19.25 the sale amount

$55 original price - $19.25sale = $35.75 sales price of pants.

Factor the following Polynomial a) 6x - 18​

Answers

U could easily do this on Photo-math- but here: 6(x−3)
6(x-3) for problems like this i like using math away

4x+3y=16 x= -3 and y= -2 Solve the equation​

Answers

Answer:

Is this question wrong?

Step-by-step explanation:

4x+3y=16

4(-3)+3(-2)=16

-12-6=16

-18=16

If I have a 77 and i get 100 added to my grade what will my final score be?

Answers

Answer:

Most likely a B.

Step-by-step explanation:

This depends on how much the test was of your grade.

PLEASE PLEASE PLEASE HELP

Answers

10- 9

11- 5

12- 1

13- 10

14- 3

15- 7

16- 3

17- 3

18- 6

What is the least common denominator (LCD) of 13 and 34?

Answers

Answer:

442

Step-by-step explanation:

What is the slope of this line?

Answers

Answer: 1/3 kkkkkkkkkkkkkkkkkkkkkkkkkk

Evaluate 1/4x+ 1/20 when x =1/5

Answers

Answer:

1/10

0.1

Step-by-step explanation:

does anyone know how to do this ​

Answers

Answer:

x = 2 and y =

Step-by-step explanation:

y = 2x - 1

y = -x + 5

2x - 1 = -x + 5

2x + x = 5 + 1

3x = 6

x = 6/3

x = 2

y = 2(3)-1

y = 5

Plz Help! A B C or D​

Answers

Answer:

B

Step-by-step explanation:

go download symbolab and enter the quenstion it wil give you many help!

What is the surface area in square inches of a cube with a side 7
inches long?
10

Answers

Answer:

28

Step-by-step explanation:

7x4

Answer:

249 inches

Step-by-step explanation:

a cube is equal on all sides so if one side is 7 all sides are 7, if you multiply 7 by 7 you get 49 but that's just one face of the cube, there are 6 faces on a cube so 49 x 6 is 249

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