Ask question

Ask question

All categories

2 years ago

12

Suppose your friend's parents invest $15,000 in an account paying 7% compounded annually. What will the balance be after 6 years

?

1 answer:

kykrilka [37]2 years ago

6 0

Answer:

$22,510.96

Step-by-step explanation:

Final investment value

$22,510.96

Total interest earned

$7,510.96

Initial balance

$15,000.00

Total monthly deposits

$0.00

Effective Annual Rate (APY)

7%

You might be interested in

A factory has a linear cost function f(x)=ax+b where b represents fixed costs and a represents the labor and material costs of m

kotegsom [21]

C . the graph will shift upwards because it is increasing on a graph

3 0

3 years ago

Read 2 more answers

What is the slope of a line between (-4,14) and (-16,8)

Bess [88]

Answer:

$\frac{1}{2}$

Step-by-step explanation:

slope :

$slope \: = \: \frac{y2 - y1}{x2 - x1} = \frac{8 - 14}{ - 16 - - 4} = \frac{ - 6}{ - 12} = \frac{1}{2}$ = 0.5

7 0

2 years ago

What is a the positive solution of x^2 - 36 =5x

Minchanka [31]

Answer:

<h2>x = 9</h2>

Step-by-step explanation:

$x^2-36=5x\qquad\text{subtract}\ 5x\ \text{from bot sides}\\\\x^2-5x-36=0\\\\x^2+4x-9x-36=0\qquad\text{distribute}\\\\x(x+4)-9(x+4)=0\\\\(x+4)(x-9)=0\iff x+4=0\ \vee\ x-9=0\\\\x+4=0\qquad\text{subtract 4 from both sides}\\\\x=-40$

3 0

2 years ago

the number of boys who solved a tough math problem is the same as the number of girls who did not solve it. Are there more girls

Harrizon [31]

Answer:

I want to say the answer is No, I'm sorry if I am wrong.

6 0

2 years ago

Nikki works at a store that sells consumer electronics. She earns $12 per hour, plus a commission of 5% of her total sales amoun

Mazyrski [523]

Answer:

See below.

Step-by-step explanation:

So, Nikki earns $12 per hour.

And she also earns a 5% or 0.05 commission of her total sales each day.

On Saturday, she worked eight hours and she earned $139. In other words, she earned 8(12) or $96 from working her hours and another $43 (139-96) from her commission.

Thus:

$139=96+0.05x$

Where x represents Nikki's total sales on Saturday.

Further notes:

To solve, subtract 96 from both sides and divide by 0.05:

$139=96+0.05x\\43=0.05x\\x=\$860$

Thus, her total sales that day were $860.

6 0

2 years ago