Noah currently has an account balance of $2,976.45. He opened the account 11 years ago with a deposit of $1,963.45. If the interest compounds quarterly, what is the interest rate on the account?

Answers

Answer 1
What we know:
Acct. balance A (11)= $2,976.45
Pricipal=$1,963.45
Compounded (n)=quarterly (4)
rate=r
Compound interest formula: A (t)=p (1+r/n)^nt

What we need toi find:
If the interest compounds quarterly, what is the interest rate on the account? Find r.
A (t)=p (1+r/n)^nt
2976.45=1963.45 (1+r/4)^(4×11)
2976.45=1963.45 (1+r/4)^44
2976.45/1963.45=1963.45/1963.45 (1+r/4)^44
1.5159=(1+r/4)^44
(1.5159)^(1/44)=((1+r/4)^44)^(1/44)

1.0095=1+r/4
1.0095-1=1-1+r/4
.0095=r/4
.0095(4)=r/4 (4)
.038=r

Rate = 3.8%


Answer 2

Answer:

The interest rate is 3.79% or 3.8%

Step-by-step explanation:

The formula to find how much money A we have at the end of t years  if we start with a principal or  amount of money P today and the interest is compounded n times in the years is:

A=P(1+ r/n)^(nt)   (1)

Here A = $2,976.45 the final amount

t = 11 years

P =  $1,963.45.

and n = 4 because the interest is compounded quarterly or 4 times in the year.

We the need to simplify  the interest rate r in (1) so:

A=P(1+ r/n)^(nt)   (1)

A/P = (1+ r/n)^(nt)

(A/P)^(1/nt) = (1+ r/n)

(A/P)^(1/nt) - 1  =  r/n

((A/P)^(1/nt) - 1  ) * n =  r

r = ((A/P)^(1/nt) - 1  ) * n

We replace values and solve doing parenthesis exponents first

r = ((2,976.45/1,963.45.)^(1/(4*11)) - 1  ) * 4

r= ((1.51^(1/44)) -1)*4

((1.51^(1/44)) -1)*4

r= (1.009499443  - 1)*4

r= 0.009499443  *4 = 0.037997773

That expressed in percentage multiplying by 100 is 3.79% or 3.8% interest


Related Questions

at the movie theater, at least 60% of the seats must be full to recover operating costs. on Thursday 146 out of 200 seats are occupied. How many seats are occupied? What percentage of the seats are unoccupied?

Answers

146 seats are occupied. 27% of the seats are unoccupied.

Sophie and Eleanor are making bouquets using daisies and tulips. Each bouquet will have the same total number of flowers,Eleanor uses fewer daisies in her bouquet. than sophie. Whose bouquet will have the greatet ratio of daisies of total flowers? Explain.

Answers

Sophie will have a greater daises to total flowers ratio than Eleanor. To make this easier to see, let's assume the boquets have 10 flowers each, and Eleanor uses 2 daisies and 8 tulips, while Sophie uses 5 daisies and 5 tulips. Then Eleanors ratio is 2:10=1:5, while Sophie's ratio is 5:10=1:2.

Answer:

Sophie's ratio is greater.

Step-by-step explanation:

Sophie and Eleanor are making bouquets using daisies and tulips. Each bouquet will have the same total number of flowers.

Eleanor uses fewer daisies in her bouquet than Sophie.

Lets say the total flowers used in each bouquet is 15.

Eleanor uses 5 daisies. So, her ratio for daisies to total flowers become = [tex]\frac{5}{15}=\frac{1}{3}[/tex]

Suppose Sophie uses 10 daisies so her ratio becomes = [tex]\frac{10}{15}=\frac{2}{3}[/tex]

Now comparing both ratios, we can see that Sophie's ratio is greater.

Darius flipped a coin 500 times and it landed heads up 300 times. What is the relative frequency of the coin landing heads up based on the results of this experiment?

Answers

300/500 is the probability. Is it correct?
3/5 times. in reality it should have landed 250 times as in an ideal world you get 50/50 odds of getting one side or the other

A bar of copper has a mass of 216 g and a volume of 24 cm. what is the density of copper

Answers

This is how I found the answer

The density of copper bar is 9g/cm³

Given that :

Mass of copper bar = 216 g

Volume = 24 cm

Density of copper will be :

Recall :

Density = Mass / Volume

Density = 216 g / 24 cm³

Hence, Density of copper bar = 9 g/cm³

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You deposit $1,600 in a bank account. Find the balance after 3 years if the account pays 2.4% annual interest compounded quarterly.

Answers

They made $8.8 a hour 

$1803.34 will be the balance after 3 years if the account pays 2.4% annual interest compounded quarterly

What is Compound interest?

Compound interest is the interest on a loan or deposit that accrues on both the initial principal and the accumulated interest from previous periods.

let's call the amount of money A, the initial amount P, the yearly rate r, the number of compounds per year n.

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

[tex]A = 1600(1 + \dfrac{.024}{4})^{((4)(5)[/tex]

[tex]A = 1600(1.006)^{(20)[/tex]

[tex]A = \$1803.34[/tex]

Hence $1803.34 will be the balance after 3 years if the account pays 2.4% annual interest compounded quarterly

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It costs a family $216 to refinish a wood floor. They want to refinish floor in a larger room. The ratio of corresponding sides is 3:4. How much would it cost to refinish wood floor in the larger room?

A) $396
B) $384
C) $262
D) $288

Answers

The cost for the larger room comes out to be $384. Option B) is the correct answer.

The cost of refinishing a wood floor in a room is related to the area of the floor. Since the ratio of the corresponding sides of the two rooms is 3:4, the ratio of their areas is the square of the ratio of the sides, being 9:16 (since 32 = 9 and 42 = 16). To find the cost to refinish the larger room, we can set up a proportion where $216 corresponds to an area with a 'weight' of 9, and x corresponds to an area with a 'weight' of 16.

Mathematically this can be represented as 216/9 = x/16. Solving for x, we calculate x = (216/9) imes 16 = 24 imes 16 = $384. Therefore, the cost to refinish the wood floor in the larger room would be $384, which corresponds to option B).

It cost to refinish wood floor in the larger room is $384. So option (b) is correct.

To solve this problem, we'll use the concept of ratios to find the cost of refinishing the wood floor in the larger room.

First, let's set up the ratio of the areas of the two rooms. Since the ratio of corresponding sides is 3:4, the ratio of their areas will be 3^2 : 4^2, which is 9:16.

Now, since the cost of refinishing the smaller room is $216, we need to find what portion of the total cost that represents. Since 9 parts represent $216, 1 part represents $216 ÷ 9 = $24.

Next, we'll find the total cost of refinishing the larger room. Since the larger room has 16 parts (as per the ratio), the total cost will be 16 parts × $24/part = $384.

So, the correct answer is B) $384.

Here's the detailed calculation:

Find the ratio of areas of the rooms: [tex]\(3^2 : 4^2 = 9 : 16\)[/tex]

Find the cost per part: (216 ÷ 9 = 24)

Find the total cost for the larger room: [tex]\(16 \times 24 = 384\)[/tex]

a cube has a volume of 8 cubic inches what is the length of each edge of the cubes

Answers

Answer:

The formula for the volume of the cube is v=a3 where a is the length of the edge the volume of the cube is 1/8 cube inches v= 1/8 cube inches a3=(1/2)3 cubic inches

Step-by-step explanation:

log4 (x - 7) = 3
solve for x

Answers

Firstly we apply the rule: [tex]a=\log _b\left(b^a\right)[/tex]:
[tex]\log _4\left(x-7\right)=3
\\\log _4\left(x-7\right)=\log _4\left(64\right)[/tex]

When the logarithms have same base, the following rule applies: [tex]\log _b\left(f\left(x\right)\right)=\log _b\left(g\left(x\right)\right) \Rightarrow f\left(x\right)=g\left(x\right)[/tex].

And now we simply solve the linear equation:
[tex]x-7=64
\\x=71[/tex].
I know you all might want the steps too but the way i used in solving it is pretty long, but the answer is
2log2(x−7)=3

log2(x−7)=​3/2

x−7=​3/2log2​​​

x−7=3/​2log2​​

[tex]x = \frac{3}{2 log(2) }+ 7[/tex]
i hope this help

What is the expression in standard form for 4(2a)+7(-4b)+(3*c*5)

Answers

Hello there!

To write this in standard form, we need to use the formula.

Thus,

The answer is = 8a + 28b - 15c

Best of luck!

Sean and his sister, Betty equally mow 8/9th the total area of a lawn. What fraction of the total area did each of them mow? (Show ur work plz)

Answers

Since they mowed [tex]\frac{8}{9}[/tex] of the lawn in two equal parts, we need to split the pieces that were mowed into two equal groups. We know that in total they mowed 8 out of the total 9 pieces of lawn, so two equal groups that make 8 would be of size 4, since [tex]\frac{8}{2}=4[/tex]. Then they each mowed [tex]\frac{4}{9}[/tex] of the lawn.

Using the division operation, the fraction of the total area mowed by each person is [tex] \frac{4}{9}[/tex]

Total fraction mowed = [tex] \frac{8}{9}[/tex]

Number of persons who mowed the area = 2

Since, the same amount of area ws mowed by each person, then the area mowed per person can be calculated thus :

Total Area mowed ÷ number of persons

[tex] \frac{48}{9} \div 2 = \frac{4}{9}[/tex]

Hence, each person mowed [tex] \frac{4}{9}[/tex]

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8x+4(x-1) simplify the following expression

Answers

Distribute 4 into x-1
So it makes 8x+4x-4
then Add them together
12x-4
8x+4x-4
12x-1
You have to foil then group the "like terms"... you could also just go to cymath tbh

plz help me on this question

Answers

the line that passes through the origin (0, 0) is direct variation, so the second graph.

The manager of a plant nursery bought 120 lb of soil to use for potting plants. The manager can put 5 lb into each of the small pots and 12 lb into each of the large pots. The manager made a sketch to show the line representing the different combinations of pots that can be used. The x-axis represented the number of small pots and the y-axis represented the number of large pots. The manager labeled only the intercepts.


Which points did the manager label?




1. (0, 12) and (5, 0)


2. (0, 10) and (24, 0)


3. (0, 24) and (10, 0)


4. (0, 5) and (12, 0)

Answers

The intercept are the number of each of the pots used when no soil was put in the other pot.
When no soil was put in the large pots, then 120/5 = 24 small pots will be filled.
When no soil was put in the small pots, then 120/12 = 10 large pots will be filled.

THerefore, the points labelled are (24, 0) and (0, 10)
Final answer:

The points that were labelled by the manager on the graph are (0, 10) and (24, 0). These points are found by dividing the total amount of soil by the amount of soil required by each type of pot.

Explanation:

In this Mathematics problem, we need to determine which points were labelled on the graph created by the nursery manager representing combinations of small and large pots. We can find these points, the intercepts, by understanding that these occur when one variable is zero. The x-intercepts happen when all soil is used for large pots (i.e., the y-axis, or number of small pots, is zero), and the y-intercepts occur when all the soil is used for small pots (i.e., the x-axis, or number of large pots, is zero). For the x-intercept, if each large pot requires 12lb of soil, then the manager could fill 120/12 = 10 large pots if no soil is used for small pots. Therefore, the x-intercept is (0, 10). Similarly, the y-intercept would be obtained by dividing the total amount of soil with the amount used for a small pot. That gives us 120/5 = 24. Hence, the y-intercept is (24, 0). So, the points labelled by the manager are option 2: (0, 10) and (24, 0).

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What is the equation of this graphed line (-6,-3) (6,-7)

Answers

The equation is a linear equation in y=mx+b format. The slope-intercept linear equation for this line would be y=-0.33x-5

Answer:  [tex]x+3y=-15[/tex]

Step-by-step explanation:

The equation of a line passes through (a,b) and (c,d) is given by :-

[tex](y-b)=\dfrac{d-b}{c-a}(x-a)[/tex]

Then, the equation of a line that passes through (-6,-3) (6,-7) will be :-

[tex](y-(-3))=\dfrac{-7-(-3)}{6-(-6)}(x-(-6))\\\\\Rightarrow y+3=\dfrac{-7+3}{6+6}(x+6)\\\\\Rightarrow\ y+3=\dfrac{-4}{12}(x+6)\\\\\Rightarrow\ y+3=\dfrac{-1}{3}(x+6)\\\\\Rightarrow\ 3(y+3)=-x-6\\\\\Rightarrow\ 3y+9=-x-6\\\\\Rightarrow\ x+3y=-15.[/tex]

Hence, the required equation is [tex]x+3y=-15[/tex].

Kelly took 12 pictures at school on Tuesday. She took 7 pictures at lunch and 5 pictures at recess. If she randomly selects a picture to put in her locker, what is the probability it is a picture she took at recess?
a 5/7
b 1/6
c 1/5
d 5/12

Answers

d.  5/12 is your answer

Determine if you can use the HL Congruence Theorem to prove the triangles to prove the triangles below are congruent.

Answers

a
No you cannot use HL to prove the triangles are congruent because there is no way to know if the hypotenuses of BE and EC are congruent

Please show work ill give brainliest!!!!!!!!!!

Nick and Cathy collected shells on the seashore. In the morning Nick found several shells, while Cathy found 7 shells. In the afternoon, Nick found 15 more shells. Now the ratio of Nick's shells to Cathy's shells in 3:1. How many shells did Nick find in the morning?

Thanks!!!!!!!!!!!!!!

Answers

If Cathy found 7 shells and the ratio was 3:1 that afternoon, then in total, Nick found 21 shells because 7×3=21.


21-15=6

Therefore, Nick found 6 shells that morning.

[tex]y = \frac{3}{1} [/tex]
3×7÷1×7
21÷7
Ratio= 21 ÷ 7

21-15
[tex]y = 6[/tex]
You're welcome!

How can you do this problem ?? Plz explain

Answers

Hello! I can help you with this! So we can solve this by dividing the room into different shapes. When you’re done dividing, you get a trapezoid, a small triangle, a rectangle, and a larger triangle. Then, we find the measurement of them to solve the problem and the find the area of each shape and then add them up together. Here are the measurements:

Trapezoid: 24, 12
Rectangle: 4, 8
Large triangle: 2, 18
Small triangle: 2, 2

Then, just find the formula for each and hen add them to find the total number of square feet of the floor.

Mr Durant bought Console B for $20.99 off the advertised price. Find the total amount Mr. Durant paid.

Answers

If the advertised price for Console B is $138.99 and she got it for $20.99 off the total amount she paid was $118.00

power negative a b to the third power minus AC if a equals -2 and b equals 3 and C equals negative 8

Answers

The answer is:  " - 38 " .
__________________________________________________
Explanation:
__________________________________________________
Given:  "  −ab³ − ac ”  ;

Solve this expression when:  "a = -2 " ;  " b = 3 " ;  " c = 8 " ;
__________________________________________________
So, we plug in our given values for "a", "b" and "c" ; and solve:

    [−(2)*(3³)  − [(-2*8)]  =  (-2*27)  − (-16) = (-54) + (16) =  " -38 " .
___________________________________________________

[tex]\(-ab^3 - ac = 38\)[/tex].

To evaluate the expression [tex]\(-ab^3 - ac\)[/tex] given a = -2, b = 3, and c = -8, we substitute the values into the expression:

[tex]-ab^3 - ac = -(-2)(3)^3 - (-2)(-8)\\= -(-2)(27) - (16)\\= 54 - 16 \\= 38[/tex]

What is 1/8 of $68.96

Answers

1/8 x 68.96 = $8.62

hope this helps

Simplify fully: √18 / √8

Answers

sqrt18  = 3 sqrt2
sqrt 8 = 2 sqrt2

sqrt18 / sqrt 8  = 3 sqrt2 / 2 sqrt2  = 3/2  answer

Anthony decided to buy two DVDs that were not included in the deal. His price after tax was $21.60. What was the cost of the two DVDs before the sales tax was added?

Answers

What was the Price before

The cost of the two DVDs before the sales tax was added is  $21.60.

To find the cost of the two DVDs before sales tax, let's first calculate the total cost including tax and then backtrack to find the cost before tax.

Calculate Total Cost with Tax:

The total cost including tax is given by: Total Cost = Price + Tax

Calculate Tax Amount:

Tax = Price * Tax Rate

Given that the sales tax rate is 8 percent (0.08 in decimal form), the tax amount is: Tax = 0.08 * $21.60 = $1.728

Calculate Total Cost:

Total Cost = Price + Tax

Total Cost = $21.60 + $1.728 = $23.328

Find Cost of DVDs Before Tax:

Let the cost of the two DVDs before tax be represented by x.

Total Cost = Price of DVDs + Price of DVDs * Tax Rate

$23.328 = x + 0.08x

$23.328 = 1.08x

Solve for x:

Divide both sides by 1.08:

x = $23.328 / 1.08 = $21.60

So, the cost of the two DVDs before the sales tax was added is  $21.60.

Complete Question:

Anthony decided to buy two DVDs that we're not included in the deal. His price was $21.60. The sales tax is 8 percent. What was the cost of the two DVDs before the sales tax was added?

A gift box in the shape of a cube has a volume of 216 cm3 . What is the area of the base of the box

Answers

The volume consists of L*W*H. Since it is a cube, each measurement will be the same. The cube is 6 for Length, width, and height. The SA for the base of the box is 36cm. 

The area of the base of a cube with a volume of 216 cm³ is 36 cm², obtained by first calculating the side length as the cube root of the volume and then squaring that length.

The volume of a cube is calculated by raising the length of one of its sides to the third power (Volume = s³), where s is the length of a side. Given that the volume of the gift box is 216 cm³, we can find the length of a side by taking the cube root of the volume. The cube root of 216 cm³ is 6 cm, which is the length of each side of the box.

Since the base of the cube is a square, the area of the base is simply the length of a side squared (Base Area = s²). Hence, the area of the base of the box is 6 cm × 6 cm, which equals 36 cm².

Write these portions as percents.
A) 3 tenths and 6 hundredths.
B) 8 hundredths
C) 17 hundredths
D) 11 tenths.

Answers





A)  36%
B)  8%
C) 1.7%
D)  110%




36%
0.8%
0.17%
11%
It's a rough answer but I can say i learned it in school and that's what I remember

How much would $200 invested at 7% interest compounded annually be worth after 5 years? Round your answer to the nearest cent.

Answers

Use the Compound Amount formula:

A = P (1 + r)^t, where P is the principal, r is the interest rate as a decimal fraction, and t is the number of years.

Here, A = $200 (1 + 0.07)^5    =    $500(1.07)^5    =   $280.51.

The interest earned would be $80.51.

Answer:

280.51

Step-by-step explanation:

help me please,it will be greatly appreciated

Answers

1) √3(2)-2/3^2 = √6-2/9= 2/9
As you see, as according to the rule, 3 would be represented by the variable a while 2 would be represented by the variable b. Since you know this, you simply plug the values into the equation, plugging 3 in where a belongs and plugging 2 in where b belongs. After this, you simplify which gets you to your answer, 2/9.

2.)3(ab^2)^3= 3(a^3b^2*3)=3(a^3 b^6)= 3a^3b^6
Since you know the rule of indices or indexes (the power) in this case would be distributing the outside exponent, 3 to the inner exponents a^1(since there is no power labeled, it is implied that a is raised to the first power) b^2, which would be multiplying the outside exponent to the inner indexes. Then, once you have done this, you distribute the value, 3, to a^3b^6. 



Mr.hollins determines that he gives away $800 each month. If he gives away 16% of his budget, how much is his overall budget ?

Answers

His overall budget is $672
He has $672 after he gives away 16% of his budget. The 16% is $128

Give an example of an area. You would measure in square miles

Answers

The block of your neighborhood

please help Graph y= –3x+4 .

Answers

First start at the point 0,4 because the positive is our y-intercept. Then go up three over one to the left till you reach the end of the graph, then go back to 0,4.
Then go 3 down and right one till you reach the end of the graph. And now you got a line!
Y=mx+b
m=slope  (-3)
b=y-intercept   (4)
 

The graph of the equation of line y = -3x + 4 is plotted

Given data ,

Let the equation of line be represented as A

Now , the value of A is

y = -3x + 4

where the equation is in the form of slope intercept

where the y-intercept is given by b = 4

Now , the slope of the line is m = ( y₂ - y₁ ) / ( x₂ - x₁ )

Substituting the values in the equation , we get

Slope m = -3

So , the slope of -3 indicates that for every 1 unit increase in x, the value of y decreases by 3 units. The negative slope means that the line is decreasing as x increases, sloping downward from left to right.

Hence , the equation of line is plotted on the graph

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