3400 dollars is placed in an account with an annual interest rate of 8.25%. How much will be in the account after 25 years, to the nearest cent?
Answers
Answer:
The finalbank account amount will be $10,412.50, earning$7,012.50 in interest.
General Formulas and Concepts:
Algebra I
Simple Interest Rate Formula:
- A is the final amount
- P is the principle amount
- r is rate
- t is time
Step-by-step explanation:
Step 1: Define
Identify given variables.
P = $3,400
r = 0.0825
t = 25
Step 2: Find Interest
- [Simple Interest Rate Formula] Substitute in variables:
- Evaluate:
∴ the bank account will gain$7,012.50 and have a net balance of $10,412.50.
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Topic: Algebra I
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Final answer:
Using the formula for compound interest, we can find out that the sum of $3400, invested for 25 years at 8.25% annual interest compounded yearly, will amount to approximately $26358.85.
Explanation:
The question relates to calculating compound interest rather than simple interest. We're given $3400 as the principal, an annual interest rate of 8.25% and 25 years as the time period. We assume that the interest is compounded annually. Typically, we use the formula A=P(1+r/n)^(nt), where A is the amount of money accumulated after n years, including interest, P is the principal amount, r is the annual interest rate in decimal form, n is the number of times that interest is compounded per unit t, t is the time the money is invested for.
Applying Formula
In this situation, r = 8.25/100 = 0.0825, P = $3400, t=25, and since it's yearly compounded n=1. Therefore, the equation becomes A = $3400 * (1+0.0825/1)^(1*25). The eventual amount will be approximately $26358.85. Thus, $26358.85 will be in the account after 25 years to the nearest cent.
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What is the best way to description X times Y in a sentence?
What does x equal in this equation
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Answers
The actual distance, in miles, between Dallas and Houston is 240 miles.
What is an expression?
The mathematical expression combines numerical variables and operations denoted by addition, subtraction, multiplication, and division signs.
Mathematical symbols can be used to represent numbers (constants), variables, operations, functions, brackets, punctuation, and grouping. They can also denote the logical syntax's operation order and other properties.
A scale for a map states that 2 inches equal 25 miles. If the distance from Dallas to Houston on the map is 19.2 inches.
2 inches = 25 miles
19.2 inches = ( 19.2 x 25 ) / 2
19.2 inches = 240 miles
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That means that 1 inch on the map equals how many miles in real life?
... [time for you to think] ...
That's 12.5 miles. (simply 25 / 2 = 12.5).
So one inch on the map is equal to 12.5 miles in real life.
Starting from this....
So 1 inch on the map is equal to 12.5 miles in real life.
So 2 inches on the map is equal to 25 miles in real life. (2x12.5)
So 3 inches on the map is equal to 37.5 miles in real life. (3x12.5)
So 4 inches on the map is equal to 50 miles in real life. (4x12.5)
So 19.2 inches on the map is equal to <....> miles in real life (19.2 x 12.5).
For you to fill in the <...> using the steps I gave you.
Answers
The correct way to write 1/4% as a decimal is 0.0025.
The reporter's likely error was that he did not notice the percent sign, thus saying that 1/4% is equivalent to 0.25.
Answer:
a. .0025 b. (see below)
Step-by-step explanation:
Percents are converted to decimals by moving the decimal 2 places to the left.
a. Write 1/4% as .25% Then, move the decimal two places to the left. You arrive at .0025.
b. The reporter's likely error is he/she thinking that 25 being 1/4 of one hundred, but it is not 1/4 percent of one hundred. It is 25% of one hundred.
Answers
-9p-p=-150
-10p=-150
p=15
Order of operations. Doing so turns it into a simple division equation.
Answers
Solution: The partial products of are 800, 320, 40, 16 and the value of
is 1176.
Explanation:
To find the partial product of two numbers, first we write the both numbers as the sum of place values of the digits. Multiply each the place value of first number with the place value of second number.
Multiply each pair individually.
The above values are partial product.
Therefore, the partial products of are 800, 320, 40, 16 and the value of
is 1176.
(40 + 2) × (40 + 8)
40 × (40 + 2) = (40 × 40) + (40 × 2) = 1600 + 80 = 1680
8 × (40 + 2) = (40 × 8) + (2 × 8) = 320 + 16 = 336
Then 1680 + 336 = 2016
Answers
The correct answer is (c) The experimental probability is 4.06 percentage points greater than the theoretical probability.
To compare the theoretical probability and the experimental probability of drawing a blue tile, we need to first calculate each one.
Theoretical probability of drawing a blue tile:
Total number of tiles = 5 + 6 + 2 + 4 + 1 + 10 + 5 + 3 = 36
Number of blue tiles = 10
Theoretical probability of drawing a blue tile = number of blue tiles / total number of tiles = 10 / 36 = 27.78%
Experimental probability of drawing a blue tile:
Number of draws in the five trials = 54 + 36 + 80 + 22 + 75 = 267
Number of blue tiles drawn in the five trials = 18 + 11 + 20 + 4 + 32 = 85
Experimental probability of drawing a blue tile = number of blue tiles drawn / number of draws = 85 / 267 = 31.84%
To compare the two probabilities, we subtract the experimental probability from the theoretical probability:
Theoretical probability - experimental probability = 27.78% - 31.84% = -4.06%
The result is negative, which means that the experimental probability is greater than the theoretical probability.
However, we need to express this difference as an absolute value (i.e., without the negative sign) and as a number of percentage points.
The absolute value of -4.06% is 4.06%, and this is the amount by which the experimental probability is greater than the theoretical probability.
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Answer:
c.
The experimental probability is 4.06 percentage points greater than the theoretical probability.
Step-by-step explanation: