Michael wants to save $46,000.00 for a down payment on a home. How much will he need to invest in an account with 6.1% APR, compounding daily, in order to reach his goal in 7 years? Round the answer to the nearest cent

Answers

Answer 1

Step-by-step explanation:

Simple Interest

Discussing interest starts with the principal, or amount your account starts with. This could be a starting investment, or the starting amount of a loan. Interest, in its most simple form, is calculated as a percent of the principal. For example, if you borrowed $100 from a friend and agree to repay it with 5% interest, then the amount of interest you would pay would just be 5% of 100: $100(0.05) = $5. The total amount you would repay would be $105, the original principal plus the interest.

four rolled-up dollar bills seeming to grow out of dirt, with a miniature rake lying in between them

SIMPLE ONE-TIME INTEREST

I

=

P

0

r

A

=

P

0

+

I

=

P

0

+

P

0

r

=

P

0

(

1

+

r

)

I is the interest

A is the end amount: principal plus interest

P

0

is the principal (starting amount)

r is the interest rate (in decimal form. Example: 5% = 0.05)

EXAMPLES

A friend asks to borrow $300 and agrees to repay it in 30 days with 3% interest. How much interest will you earn?

Show Solution

The following video works through this example in detail.

One-time simple interest is only common for extremely short-term loans. For longer term loans, it is common for interest to be paid on a daily, monthly, quarterly, or annual basis. In that case, interest would be earned regularly.

For example, bonds are essentially a loan made to the bond issuer (a company or government) by you, the bond holder. In return for the loan, the issuer agrees to pay interest, often annually. Bonds have a maturity date, at which time the issuer pays back the original bond value.

EXERCISES

Suppose your city is building a new park, and issues bonds to raise the money to build it. You obtain a $1,000 bond that pays 5% interest annually that matures in 5 years. How much interest will you earn?

Show Solution

Further explanation about solving this example can be seen here.


Related Questions

How do you write 3.707 x 10-8^-8 in standard form? ASAP BRAINLIST ​

Answers

.00000003707 I believe

Which equation, when solved, results in a different value of x than the other three? O -7-9-20 0 + 5 3 7 X=-20 4 O 3 4. - (b)*--20 +7(49-2-06-4) 8 O ​

Answers

Answer:

1

Step-by-step explanation:

The pot-belly seahorse is one of the largest seahorse species and is known for having a large belly. As a part of its diets, a pot-belly seahorse eats about 63 shrimp per week. It eats the same amount each day.How much shrimp does the pot-bellied seahorse eat per day?

Answers

Answer:

9 shrimp per day.

Step-by-step explanation:

63/7=9

9*7=63

come nueve al día

Dividimos 63/7=9

What can you multiply 2 to 10 by to get the ratio of 4 to 20

Answers

Answer:

multiply both by 2

Step-by-step explanation:

2 x 2 = 4

10 x 2 = 20

Find the angles marked x,y and z.
ASAP

Answers

Answer:

x= 45°

y= 95°

z= 85°

hope this helps <3

Answer:

Step-by-step explanation:

x= 50

y+25=180(because it is on a straight line)

y+25=180

y+25=180

y+25-25= 180-25

y+0= 155

y= 155

z+ y=180

z+ 155= 180

z+ 155- 155 =180-155

z+ 0 =  25

z = 25

x = 50

y = 155

z = 25

What are the characteristics of the graph of the inequality x < 4.5?

The ray will move to the left.
It will use a closed circle.
It will use an open circle.
The ray will move to the right.

Answers

Answer:

see explanation

Step-by-step explanation:

Given x < 5

The graph will have an open circle at 5 indicating that x is not equal to 5, which would be a closed circle.

The ray will move to the left since values less than 5 are to the left of 5

Answer:Please see explanation

Step-by-step explanation:

What are the characteristics of the graph of the inequality x < 4.5?

The answer is The ray will move to the left.

It will use an open circle.

Please votes me 5 stars,1 heart,and mark as brainliest. Thanks

Carpenter Chalberg is building a new wall in his house. The wall is 8 feet long and 8 feet tall. The wall will be framed with wood and also have studs (vertical supports) at least every 18 inches. The wall has no doors or windows. He is looking to purchase enough 8 foot boards of wood to make the wall’s frame. How many boards will Carpenter Chalberg need?

Answers

9514 1404 393

Answer:

  9

Step-by-step explanation:

For studs 16" O.C., Chalberg will need 9: one at the beginning of each of the 16" spaces in the 96" width of the wall, and one at the end. That's a total of 6+1 = 7 studs.

The top and bottom edges of the wall are each 8', so will require 1 more board each.

The total number of boards Chalberg needs is 9.

Find the equation of the line that passes through (1,3) and is perpendicular to
y=2x+3
Leave your answer in the form y=mx+c

Answers

Answer:

y=-1/2x+7/2

Step-by-step explanation:

Gradient is negative reciprocal so -1/2x

3=-1/2x + 7/2

y=-1/2x+7/2

Answer:

perpendicular lines have the same gradient

y=2x+3

The gradient of the two lines is 2

Gradient=change in y/change in x

=y2-y1/x2-x1

Let (x,y) also lie on the line

2= y-3/x-1

2(x-1) =y-3

2x-2=y-3

2x-y=-3+2

2x-y= -1

2x+1 =y

y=2x+1

Step-by-step explanation:

HOPE THAT THIS IS HELPFUL.

HAVE A GREAT DAY

IF YOU ARE REALLY GOOD A MATH THEN PLEASE ANSWER THIS !!!
Your help will be much appreciated because i am losing my sanity doing this math

Answers

Hey there!

Let's take the number of cows in the field as 'c'.

Then, the number of horses in the field is = c + 2 [2 more horses than cows]

Total number of animals on the field = 16.

So, equation becomes...

c + c + 2 = 16

2c + 2 = 16

Hope it helps ya!

Nancy sold tickets to a school play. She sold $426 worth of tickets. She sold 8 more adult tickets than children tickets and 3 times as many senior tickets than children tickets. If children tickets are $3, senior tickets are $4 and adult tickets are $6, how many adult tickets did Nancy sell

Answers

Answer:

So number of Adult tickets sold = A = 26.

Step-by-step explanation:

Define A, C, S as

A = number of adult tickets,

C = number of children tickets,

S = number of Senior tickets.

Then, by the statement of the problem, we have that

A = 8 + C,

S = 3C,

3C + 4S + 6A = 426,

so that

3C + 4(3C) + 6(8 + C) = 426

3C + 12C + 48 + 6C = 426

21C + 48 = 426

7C + 16 = 142

7C = 126

C = 126/7 = 18

A = 8 + 18 = 26

S = 3(18) = 54

I'm thinking of 2 numbers. Both numbers have the same absolute value. What number must be true about the 2 numbers?

Answers

Answer: they have the same number in them for example -4 and 4

Step-by-step explanation:

Given that Cos(A) = .6 and csc(A) is -1.25, what is tan (a)

Answers

Answer:  -4/3

============================================================

Explanation:

cos(A) = 0.6 = 6/10 = 3/5

Recall that csc is the reciprocal of sine.

If csc(A) = -1.25, then sin(A) = 1/csc(A) = 1/(-1.25) = -0.8 = -8/10 = -4/5

Then we would have

tan(A) = sin(A)/cos(A)

tan(A) = sin(A) ÷ cos(A)

tan(A) = (-4/5) ÷ (3/5)

tan(A) = (-4/5) * (5/3)

tan(A) = -4/3

Answer:

-4/3

Step-by-step explanation:

Check the solution

Choose the symbol that correctly compares the fractions below.

9/11 ? 10/11

a.) >
b.) <
c.) =

Answers

Answer:

b) <

Step-by-step explanation:

Answer:

b.)<

9 / 10 < 10 / 11

Hope it helps:-)

5) How many gal. of a 65% saline solution
must be mixed with 8 gal. of pure water to
make a 25% solution?

Answers

I bell 2 gallons must be added. But if it’s wrong sorry :(

solve pls brainliesttt

Answers

Answer:

-343

-125

Here you go

Answer:

1. -343

2. 25

3. v+21=47   v= 26

Step-by-step explanation: Hope this helps!

w x and y are three integers w is 2 less than x y is 2 more than x prove that wy+ 4 =x^2

Answers

w + 2 = x

x + 2 = y

Cross multiply

y(w+2) = x(x+2)

wy + 2y = x^2 + 2x

make x the subject of the equation

x = y - 2

substitute this in place of (x) in 2x

wy + 2y = x^2 + 2(y-2)

wy + 2y = x^2 + 2y - 4

wy  + 2y - 2y + 4 = x^2

wy + 4 = x^2

Pls help due in 10 minutes

Answers

Answer:

here is your answer hope it helps you

F(x)= 2x^3 + 5x^2 -x -6 is divided by x+1

What is the remainder and is it a fraction?

Remainder: 0 or -2
Is it a factor: yes or no

Answers

Step-by-step explanation:

substitute x= -1 into the equation to get the remainder

remainder= -2

the remainder is not a fraction

no, it is not a factor since its remainder is not zero

3. Kayla bought 3 pounds of peachee for
$1.49 per pound. How much did she pay for
the peaches?

Answers

Answer:

$4.47

Step-by-step explanation:

If one pound is $1.49 then you would multiply it by 3 ro get how much 3 pounds would be.

$1.49 x 3 = $4.47

Hope this was helpful =D

If it was, maybe I could be brainiest?

No pressure! :)

standard form
y = -8x + 7

Answers

Y=-(8+7) standard form
Y=-1 answer

please help and explain how to solve these! Thanks

Answers

2. C
Slope = 40/8 = 5
Slope of graph c = 5/1 = 5

3. D
Slope = 9/3 = 3
Slope of graph d = 81/27 = 3

Step-by-step explanation:

Use the Pythagorean Theorem to find the missing sides in the triangles.

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

Q2. [tex]c^{2}[/tex] = 8^2 + 40^2

[tex]c^{2}[/tex] = 1664

c = [tex]\sqrt{1664}[/tex]

c = 8[tex]\sqrt{26}[/tex]

Find the missing sides of the other triangles and figure out which ones are the same.

Q3. Do the same thing as Q2.

def is a right triangle.

Answers

Answer:

false

Step-by-step explanation:

I am not sure about it if correct pls no mark me as brainliest tq

It’s not a right angle, the length is not the same

Adjoa’s gross salary for last month was Ghc4,687.24. If Ghc421.78 was deducted from Adjoa’s salary pay, how much take-home pay did Adjoa earn this past month?

Answers

Adjoa’s gross salary for last month was Ghc4,687.24. If Ghc421.78 was deducted from Adjoa’s salary pay, the take-home pay that Adjoa earn in the past month is Ghc4,265.46

The gross salary is the amount received by an individual prior to the deduction of the taxes.

Given that:

Adjoa's gross salary for last month = Ghc4,687.24and Ghc421.78 was deducted from Adjoa's salary pay.

Then, the take-home that Adjoa earned in the past month is calculated by removing the amount deducted from her gross salary.

i.e.

= Ghc4687.24 - Ghc421.78

= Ghc4,265.46

Learn more about gross salary here:

https://brainly.com/question/13582411?referrer=searchResults

https://brainly.com/question/16688602

ANSWER LAST QUESTION PLZZZ

Answers

Step-by-step explanation:

what ask you ask you not ask any question please write your question please mark me brainlist

HURRY PLEASEEEEE

The measure of segment AB with a(-4,-9) and B(4, -3) is

Answers

Answer: 10

Step-by-step explanation:

using [tex]d = \sqrt{(x_{1}-x_{2} )^{2} +(y_{1}- y_{2} )^{2} }[/tex] when [tex]P_{1} =(x_{1} ,y_{1} )[/tex] and [tex]P_{2} = (x_{2}, y_{2})[/tex]

so [tex]d = \sqrt{((-4)-4)^{2}+((-9)-(-3))^{2} }[/tex]

[tex]d = \sqrt{(-4-4)^{2}+(-9+3)^{2} }[/tex]

[tex]d = \sqrt{(-8)^{2}+(-6)^{2} }[/tex]

[tex]d = \sqrt{64+36}[/tex]

[tex]d= \sqrt{100}[/tex]

[tex]d = 10[/tex]

please give me a brainliest answer

(7x+19){}(x+1){}(x+5)

Answers

We move all terms to the left:

7x-19-(x+5)=0

We get rid of parentheses

7x-x-5-19=0

We add all the numbers together, and all the variables

6x-24=0

We move all terms containing x to the left, all other terms to the right

6x=24

x=24/6

x=4

[tex]J=∫_e^b▒3dx/(xln^2 x)[/tex]

Answers

Answer:

huh rewrite the question

square root of 55 to the nearest integer

Answers

The nearest integer is 7 because the nearest perfect square root is 49. Answer is 7-8
7 good luck with your assignment

The functions f and g are defined as follows.
f(x)=-3x-1
3
g(x)=2x? +2
Find f (2) and g(-2).
Simplify your answers as much as possible.

Answers

>> Answer :

__________

[tex] \: [/tex]

f(x) = -3x - 1

g(x) = 2x + 2

Soo :

f(2) :

f(2) = -3(2) - 1

f(2) = -6 - 1

f(2) = -7

.

g(-2) ;

g(-2) = 2(-2) + 2

g(-2) = -4 + 2

g(-2) = -2

1) At Frannie's Fruit Market the price per orange (or unit rate) is $0.45. If a graph is made showing
the relationship between the number of oranges (x) and the total cost (y), which does not
represent the slope of the line?
50 POINTS

Answers

Answer:

b) 5/9

Step-by-step explanation:

The unit rate is same as the slope:

m = 0.45 = 45/100 = 9/20

Compare with the answer choices:

a) 45/100, Same or equivalentb) 5/9, Differentc) 9/20, Same or equivalentd) 27/60 = 9/20, Same or equivalent
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