Hank invested $50,000 in a mutual fund that earns 7% interest compounded annually. How much interest did he earn after 10 years?

F)$35,000
G)$48,357.57
H)85,000
J)98,357.57

Answers

Answer 1

Answer:

F $35,000

Step-by-step explanation:

3,500 is 7% of 50,000 3500 multiplied by 10 years= 35,000

Answer 2

9514 1404 393

Answer:

  G)  $48,357.57

Step-by-step explanation:

The future value formula can be used to find the account value:

  FV = P(1 +r)^t

where P is invested at annual rate r for t years.

  FV = $50,000(1.07^10) ≈ $98,357.57

The amount of interest earned is the difference between this value and the value of the initial investment:

  interest = $98,357.57 -50,000 = $48,357.57

Hank earned $48,357.57 in interest after 10 years.

_____

At 7% interest, the "rule of 72" tells you the doubling time of the account is about 72/7 = 10.3 years. That is the account value will be not quite double the original investment after 10 years. So, the amount of interest earned is only slightly less than $50,000. If the account earned simple interest, the interest earned would be $35,000. Only one answer choice is more than $35,000 and less than $50,000.


Related Questions

19. the sum of twelve and sixteen divided by the sum of three and four

Answers

Answer:

4

Step-by-step explanation:

Add 12 and 16 ( 28 ) then add 3 and 4 ( 7 ) lastly, you will divide 28 and 7 to get 4

See attachment for math work and answer.

how can you determine whether a fraction is larger or smaller than 1/4

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If the fraction Has a lesser numerator

A student wants to conduct an investigation to find out how much heat energy a 100-gram rock can transfer to water. He has the rock and 300 grams of water in an insulated container. The water is at 20°C. He heats up the rock to 50°C, and places it in the water. What is the most important data for the student to record for this investigation?

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Answers

Answer: The temperature change of the water

The most important data that the student would have to record for the investigation that he is carrying out is temperature.

What is temperature?

This is the term that is used to refer to the degree of hotness or the degree of coldness of a given body.

The temperature is the solution here because the factor that the student is set to find out would be how heat is able to transfer to water.

The variable that would be used to represent heat is going to be temperature. This is what would help to determine the amount of heat that has transferred.

This can be checked with the use of a thermometer. The investigation that the student is carrying out here would be what is called a research study.

Heat is one of the variables that is used in the research study. Therefore we can conclude by saying that the most important data that is going to be used in this research would be what is called temperature.

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John went to an electronics store to purchase a new computer. The electronics store allowed John to make payments on the computer instead of paying the entire amount upfront. If John decides to purchase a computer that costs $1,260, and he makes 6 equal monthly payments, what would be his monthly payment?

Answers

Answer:

The monthly payment is $210

Step-by-step explanation:

The computation of the monthly payment is shown below:

Given that

The cost of the computer i.e. purchased is $1,260

And, there are 6 equal monthly payments

So, the monthly payment is

= Computer cost ÷ number of equal monthly payments made

= $1,260 ÷ 6 payments

= 210

hence, the monthly payment is $210 and the same is to be considered

The line with the equation y=4x+5 undergoes a dilation with a scale factor of 2 and the center at (0,2). Determine the equation of the line that is a result of the dilation

Answers

Answer:

2=4x+5 I am not 100% sure about this though.

The following statement is an example of: every fall there have been hurricanes in the tropics. Therefore, there will be hurricanes in the tropics this coming fall.



Is it deductive, indutive reasoning or a conjecture.

Answers

Answer:

Deductive reasoning

Step-by-step explanation:

Here, we want to know the kind of reasoning the statement is.

In this question, the kind of reasoning is deductive

In the deductive reasoning type, we go from general cases to specific cases

It is just like saying the reason why there will be hurricanes in the tropics this fall is because there is an hurricane every fall

So we have gone from a general case to give a specific case

The kind of reasoning which is depicted by the statement given above is deductive reasoning.

From the statement, we are moving from a general perspective, which is the fact that, hurricane occurs every fall in the tropics.

Using these general precedence, we deduce that the same event will occur again.

We are basing a reasoning on a general fact, hence, the reasoning is deductive.

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Which could be the missing first term of the expression that, when fully simplified, would be a binomial with a degree of 4? Select THREE options.

•0
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•9x2y
•8y4
•4xy3

Answers

Answer:

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Step-by-step explanation:

I hope this helps!!!

Answer:

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Step-by-step explanation:

This Equation has only one solution 5(x-1) +3x = 7(x + 1) its an emergancy

Answers

Answer:

12

Step-by-step explanation:

5(x-1) +3x = 7(x + 1)

5 × x - 5×1 + 3x = 7 × x + 7 × 1

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Which of the following conjectures is false?





a
The sum of two even numbers is even.
b
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c
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d
The product of two odd numbers is odd.

Answers

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Answers

Answer:

11

Step-by-step explanation:

First subtract

19-8= Z

So solution would be

Z=11

Answer:

z=11

Step-by-step explanation:

step 1:simplify both sides of the equation

z+8=19

step 2:subtract 8 from each side

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What is
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Answers

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Answer:

[tex]4\frac{3}{20}[/tex]=4.15

pls help me! i will give u brainliest

Answers

Answer:

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Step-by-step explanation:

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Answers

The answer is= 2 6/10

Which shows the steps for performing long division in the correct order?
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Answers

Answer:

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Step-by-step explanation:

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Step-by-step explanation:

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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:

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Step-by-step explanation:

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An online music store is offering a promotion. When you spend $45 or more, you receive 3 songs for free. You buy an album for $15. Identify the inequality that represents how much more money m you must spend to receive the three free songs.

Answers

Answer: x ≥ $30.

Where x is the amount of money that you need to spend if you want to have the 3 free songs.

Step-by-step explanation:

When you spend $45 or more, you get 3 free songs.

You already bought an album that costs $15, then the minimum amount that you need to spend is (when you spend exactly $45):

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x ≥ $30.

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Answers

Answer:

x = -6

Step-by-step explanation:

Distribute the 2 into the brackets:

2x + 10 = -2

leave the 2x alone on one side:

2x = -2 -10

2x = -12

divide both sides by 2:

x = -6

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Answers

Answer:

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Step-by-step explanation:

Answer: 16.50

Step-by-step explanation:

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Answers

Answer:

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Step-by-step explanation:

=12x+2-7x+ 3/8

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Step-by-step explanation:

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Answers

Answer:

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Step-by-step explanation:

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Answers

Answer:

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Step-by-step explanation:

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Answers

Answer:

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Step-by-step explanation:

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Answers

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:

See the chart below

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Answers

Answer:

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Step-by-step explanation:

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Answers

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