You decide to put $175 in a savings account to save for a $3,000 down payment on a new car. If the account has an interest rate of 3% per year and is compounded monthly, how long does it take you to earn $3,000 without depositing any additional funds?. 8.0111 years.
96.1332 years.
93.2914 years.
94.8377 years

Answers

Answer 1

Answer:

The correct answer is:

94.8377 years

Explanation:

The formula for compound interest is

$A=p(1+(r)/(n))^(nt)$ , where A is the total amount, p is the amount of principal deposited, r is the interest rate as a decimal number, n is the number of times per year the interest is compounded, and t is the number of years.

For our problem, A = 3000; p = 175; r = 3% = 3/100 = 0.03; n = 12; and t is unknown:

Divide both sides by 175:

We will use logarithms to solve this. The base of the exponent is 1.0025, so this will be the base of the log:

$\log_(1.0025)((120)/(7))=12t$

Divide both sides by 12:

Answer 2

Answer: 3 % = 0.003 : 12 = 0.0025
175 · ( 1 + 0.0025 )^(12 x) = 3,000
175 · (1.0025)^(12 x) = 3,000
1.0025^(12 x ) = 17.142857
$12 x = log _(1.0025) 17.142857$
12 x = 1138.0524
x = 1138.0524 : 12
x = 94.8377
Answer: D ) 94.8377 years

Related Questions

NEED HELP ASAPSolve 4 – x = –8.
5^3x=27, what is the value of 5^2x?
Which of the following statements about the median is not true? ______ A) It is a measure of central tendency. B) It is equal to the mode in bell-shaped ""normal"" distributions. C) It is more affected by extreme values than the arithmetic mean. D) It is equal to Q2.
What is deductive reasoning in geometry
Graph the inequalityz < 6 over the restricted domain z =w (the set of whole numbers).

4(3x 5)=-4

Solve for x and show work

Answers

Answer:

x = -2 if its 4(3x + 5) = -4

x = 4/3 if its 4(3x - 5) = -4

Step-by-step explanation:

Your missing an plus or minus sign.

4(3x + 5) = -4 / multiply contents of parentheses by 4

12x + 20 = -4 / subtract 20 from both sides

12x = -24 / divide both sides by 12

x = -2

4(3x - 5) = -4 / multiply contents of parentheses by 4

12x - 20 = -4 / add 20 to both sides

12x = 16 / divide both sides by 12

x = 16/12 / simplify

x = 4/3

Answer: -2

Step-by-step explanation:

To solve the equation 4(3x + 5) = -4, we need to follow these steps:

Step 1: Distribute the 4 to the terms inside the parentheses.

This gives us 12x + 20 = -4.

Step 2: Subtract 20 from both sides of the equation to isolate the variable term.

We get 12x = -4 - 20, which simplifies to 12x = -24.

Step 3: Divide both sides of the equation by 12 to solve for x.

Dividing both sides by 12 gives us x = -24/12, which simplifies to x = -2.

So, the solution to the equation 4(3x + 5) = -4 is x = -2.

Write 8 1/4 as a decimal (not a percentage)

Answers

answer- 8.25
Hope this helped

$8(1)/(4)=8+(1)/(4)=8+(1\cdot25)/(4\cdot25)=8+(25)/(100)=8+0.25=8.25$

What is 3727/100 in simplest form?

Answers

3727/100 is already in simplest form. If you divide the numerator (3727) by the denominator (100) you can receive the decimal form of the fraction, so 3720 divided by 100 equals 37.27, OR... 37 with a remainder of 27.

If you want the fraction in mixed number form, take the 37 with a remainder of 27. 37 will be the whole number and 27 will be the numerator, while the denominator stays 100. So, the mixed form will be 37 27/100.

what are the values of a, b, and c in the quadratic equation –2x^2 4x – 3 = 0? a = 2, b = 4, c = 3 a = 2, b = 4, c = –3 a = –2, b = 4, c = 3 a = –2, b = 4, c = – 3

Answers

a=-2
b= either negative or positive 4 (you didn't include a plus or minus sign in your question)
c=-3
It should be the last answer choice.

Can someone help me with 7-9

Answers

Answer:

Warning:

I think that these are correct, but don't make this your official source :)

7. B

8. D

9. B

I hope this helps :)

The seventh-grade class is building target areas for a PE activity. The bases for the game will be in a circular shape. The diameter of each circle is 3 feet. Approximately, how many square feet of the turf need to be painted for a base circle? Use 3.14 for π and round your answer to the nearest tenth. 7.1 square feet
9.4 square feet
18.8 square feet
28.3 square feet

Answers

Answer:

7.1 square feet

Step-by-step explanation:

Since the diameter of a circle is twice the radius, the radius of each circle is 3/2=1.5. The area of a circle is $\pi r^2=\pi \cdot 1.5^2=2.25\pi \approx 7.1$ . Hope this helps!

Answer:

18.8

Step-by-step explanation:

Other Questions

Ryker is given the graph of the function y= 1/2x^2 - 4 . He wants to find the zeros of the function but is unable to read them exactly from the graph. Find the zeros in simplest radical form

What is the degree of each monomial? 7m^6n^5A. 5 B. 11 C. 6 D. 7

15=5+4(2d-3). How to you write this out? And what is the answer for d?

Solve the proportion. If necessary, round to the nearest hundredth. 9/(y +1) = 18/54 *22183026