First National Bank is offering 4.25% interest on an account. Susan makes an
initial deposit of $20,000. Calculate the interest camed over 20 years if the
bank...
a) Calculates the interest using simple interest (I -- Prt).
b) Calculates the interest using compound interest compounded annually.
c) Calculates the interest using compound interest compounded quarterly.
d) Calculates the interest using compound interest compounded monthly.

Answers

Answer 1

The simple interest earned is  $17,000.

The interest earned with annual compounding is $25,978.13.

The interest earned with quarterly compounding is $26,583.59.

The interest earned with monthly compounding is $26,722.72.

The formula that can be used to determine simple interest is: principal x time x interest rate

$20,000 x 20 x 0.0425 = $17,000

The formula that can be used to determine the interest earned with compounding is: Future value - amount invested.

The formula that can be used to determine future value is:

FV = P (1 + r/m)^nm

FV = Future value  

P = Present value  

R = interest rate  

m = number of compounding

N = number of years

Annual compounding = $20,000 x (1.0425)^20 = $45,978.13

Interest earned = $45,978.13 - $20,000 =  $25,978.13

Quarterly compounding = $20,000 x (1 + 0.0425/4)^80 = $46,583.59

Interest earned = $46,583.59  - $20,000 = $26,583.59

Monthly compounding = $20,000 x (1 + 0.0425 /12) ^240 = $46,722.72

Interest earned = $46,722.72 - $20,000 = $26,722.72

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Related Questions

what is 3.98.7 * 29.76+

Answers

Answer:

- 7% of 3.98...

... is equivalent to multiplying them:

- 7% × 3.98 ≈ - 0.28

(Rounded to a maximum of 2 decimals)

Step-by-step explanation:

Find the equation of the line passing through point (-1, -2) and having
slope 1/5. Show work.

Answers

Answer:

Y=1/5x+ -2

Step-by-step explanation:

Hope this helps

Help help help help math

Answers

Answer:

158

Step-by-step explanation:

We know the supplement of angle 6 is 22, due to the fact that they are corresponding angles. Simply subtract 22 from 180 to get the answer. 180-22=158

Answer:

158 degrees

Step-by-step explanation:

Angle 6 has a same side interior relationship with the 22 degrees, so the sum of these angles are equal to 180 degrees.

To find the missing angle, subtract 180 by 22 degrees.

180-22= 158

A group of pupils calculated their average score for a Mathematics
test. If one of them scored 9 marks more, their average score would
be 81. If one of them scored 3 marks less, their average score would
be 78. How many pupils were there in the group?

Answers

Answer: 4

Step-by-step explanation: +9-(-3)=12

81-78=3

so 12/3=4

6(2x + 4) = 3(4x + 8)
Please answer this!

Answers

Answer:

Infinitely many solutions

Step-by-step explanation:

6(2x + 4) = 3(4x + 8)

Distribute the 6

6 * 2x = 12x and 6 * 4 = 24

12x + 24 = 3(4x+8)

Distribute the 3

3 * 4x = 12x and 3 * 4 = 24

12x + 24 = 12x + 24

On both sides of the equal sign we have 12x + 24.

When both sides are equal there are infinitely many solutions.

Determine whether each sequence is geometric. Explain.
256, 128, 64, 32, ...

Answers

Answer:

Its geometric because each number is being divided by 2.

Can someone help me please!? Can you show the work as well! :)

Answers

Ok done. Thank to me :>

Evaluate 3x2 - 2xy + 4y2 for x = -1 and y = -2. .​

Answers

Answer:

The answer is 12

Step-by-step explanation:

3x² - 2xy + 4y²

Let x = -2

y = -1

3(-2)² - 2(-2)(-1) + 4(-1)²

= 3(4) - 2(2) + 4(1)

= 12 - 4 + 4

= 12

Hogie lizards have tail lengths that are normally distributed with a mean of 22.5 cm and a standard deviation of 3.6 cm. What tail length is at the 40th percentile for these lizards?

Answers

A tail length of 23.94 cm is at the 40th percentile for these lizards.

The z score is used to determine by how many standard deviations the raw score is above or below the mean. It is given by:

[tex]z=\frac{x-\mu}{\sigma} \\\\where\ x\ is\ raw\ score, \mu\ is\ mean,\sigma\ is\ standard\ deviation\\\\\\Given\ that:\\\mu=22.5\ cm,\sigma = 3.6\ cm[/tex]

For the 40th percentile, that is z = 40% = 0.4:

[tex]0.4=\frac{x-22.5}{3.6} \\\\x=23.94\ cm[/tex]

A tail length of 23.94 cm is at the 40th percentile for these lizards.

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Is there a formula for
[tex] {a}^{m} + {a}^{n} [/tex]
?​

Answers

Answer:

No

Step-by-step explanation:

There is no formula

There is no formula

Derivative of tan^2 x

Answers

Answer:

[tex]2sec^2xtanx[/tex]

Step-by-step explanation:

[tex]\frac{d}{dx} tan^2x[/tex]

[tex]\frac{d}{dx} tanxtanx[/tex]

[tex](\frac{d}{dx}tanx)(tanx)+(tanx)(\frac{d}{dx}tanx)[/tex]

[tex]\frac{d}{dx}tanx=\frac{d}{dx}\frac{sinx}{cosx}=\frac{(cosx)(cosx)-(sinx)(-sinx)}{(cosx)^2}=\frac{cos^2x+sin^2x}{cos^2x}=\frac{1}{cos^2x}=sec^2x[/tex]

[tex](sec^2x)(tanx)+(tanx)(sec^2x)[/tex]

[tex]2sec^2xtanx[/tex]

Helpful tips:

Product Rule: [tex]\frac{d}{dx}f(x)g(x)=f'(x)g(x)+f(x)g'(x)=\frac{d}{dx}f(x)*g(x)+f(x)*\frac{d}{dx}g(x)[/tex]

Quotient Rule: [tex]\frac{d}{dx}\frac{f(x)}{g(x)}=\frac{g(x)f'(x)-f(x)g'(x)}{(g(x))^2}=\frac{g(x)\frac{d}{dx}f(x)-f(x)\frac{d}{dx}g(x)}{(g(x))^2}[/tex]

Pythagorean Identity: [tex]cos^2x+sin^2x=1[/tex]

When two numbers are multiplied to get product, each number is called a(n)?
1.factor
2.substitute

Answers

Answer:

Each number is called a factor

Step-by-step explanation:

The multiplication of two numbers is equivalent to adding as many copies of one of them

what is the equivalent factor of 21 +99 ​

Answers

Answer:

3(7+33)

Step-by-step explanation:

212 + 115 × 6 + 968 HELP ME please!

Answers

Answer:

1870

Step-by-step explanation:

Answer : 1,870

Step - by - step explanation :

When there is multiple math signs in a problem you use PEMDAS . . .

Parentheses, Exponents, Multiplication and Division ( from the left side to right ), Addition and Subtraction ( from the left side to right )

212 + 115 x 6 + 968 --> 212 + 690 + 968

212 + 690 + 968 --> 902 + 968

902 + 968 --> 1,870

A part-time handyman made $8798.04 last year. If he claimed himself as an
exemption for $3650 and had a $5700 standard deduction, what was his
taxable income last year?

Answers

Answer: HIs income was  $6744.04

Step-by-step explanation: 8798.04 + 3650 - 5700 = 6744.04 Hope this helps!

The taxable income last year is $552.

What is Compound Interest?

The interest that is calculated using both the principal and the interest that has accrued during the previous period is called compound interest. It from simdiffers ple interest in that the principal is not taken into account when determining the interest for the subsequent period with simple interest.

We have,

Last year, a part-time housekeeper earned $8798.

He claimed he was exempt, costing $365.

$570.00 is the standard deduction.

Gross income less the standard deduction and all exemptions equals taxable income.

= 8798 - 3650 - 5700

= $-552

The negative sign indicates that he owes no taxes.

learn more about compound interest here:

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A video game is on sale for 30% off the
regular price of $50. What is the sale
price of the video game

A.$20
B.$30
C.$33
D.$35

Answers

Answer:

d! 35 ......!!!!!!!!!!!!

Pls help me find the value of x

Answers

Answer:

x = 3

Step-by-step explanation:

2x+6=x+9 subtract x in both sides

x +6 =9 subtract 6 in both sides

x = 3

c-3=6
x+8=18
y-5=4
Please Show your Work For each problem.​

Answers

Answer:

1. 9

2. 10

3. 9

Step-by-step explanation:

c-3=6

 +3 +3

-----------

c = 9

x+8=18

  -8  -8

------------

x = 10

y-5=4

 +5 +5

------------

y = 9

hope this helps! :D brainliest would be very, very much appreciated!! <3

Which expression is equivalent to (3 the square root of 2^5)^1/4

A- 2 5/12
B- 2 12/5
C- 2 2/20
D- 2 3/4

Answers

The answer is D trust me

Complete the recursive formula of the arithmetic sequence -15, -11, -7, -3,...−15,−11,−7,−3,...minus, 15, comma, minus, 11, comma, minus, 7, comma, minus, 3, comma, point, point, point. c(1)=c(1)=c, left parenthesis, 1, right parenthesis, equals c(n)=c(n-1)+c(n)=c(n−1)+c, left parenthesis, n, right parenthesis, equals, c, left parenthesis, n, minus, 1, right parenthesis, plus

Answers

Answer:

c(1) = -15

c(n) = c(n - 1) + 4

Step-by-step explanation:

Given arithmetic sequence is,

-15, -11, -7, -3...........

Common difference between each successive and previous term is,

d = -11 - (-15)

 = -11 + 15

 = 4

Since recursive formula of the arithmetic sequence is represented by,

a₁ = First term of the sequence

a(n) = a(n - 1) + d

where a(n) is the nth term and a(n-1) is the previous term of the nth term.

Form the given sequence,

c₁ = -15

c(n) = c(n - 1) + 4

Step-by-step explanation:

What is the mathematical formula of ligma

Answers

Who's Joe? I am in dire need of therapy.

The school bus goes 300 miles in 5 hours. What
is the average miles per hour?

Answers

Answer:

60 average miles per hour.

Step-by-step explanation:

300÷5=60

Hope this helps!

What is 26% as a fraction in simplest form?
A. 26/100
B. 26/10
C. 6/25
D. 13/50

Answers

Answer:

it'd be d: 13/50 !!

Answer:

D. 13/50

Step-by-step explanation:

0.26 ⇔ 26/100 ⇔ 13/50

A college is selling tickets to the annual battle of the bands
competition. On the first day of ticket sales, the college sold 3
student tickets and 5 adult tickets for a total of $70. On the
second day, the college sold 12 student tickets and 12 adults
tickets for a total of $216.
Use elimination to solve the system of linear equations and
determine the price of each student ticket, x, and each adult
ticket, y. Write your answer as an ordered pair (x,y).

Answers

Answer:

Step-by-step explanation:

Answer:

(10,8)

Step-by-step explanation:

Which is the equivalent of 0.00000000989 in proper scientific notation?

Answers

Answer:

  9.89×10^-9

Step-by-step explanation:

  0.000 000 009 89 = 9.89×10^-9

__

We have introduced spaces in the number to make the digits easier to count. (Some technical publications will write the number with thin spaces for just that reason.) The most-significant digit is in the 9th place to the right of the decimal point, so has a place value of 10^-9.

Find the measure of the angle marked and indicated in bold.

Answers

Answer:

105° your answer

Step-by-step explanation:

parrallel line = gongruent angles

16x - 7 = 15x

16x - 15x = 7

x = 7

------------------------

7 * 15 = 105° your answer

--------------------------------

16 * 7 - 7 = 15 * 7

105 = 105

the answer is good

simplify 8x-5-10x+7 GCF

Answers

Answer:

-2x + 2

Step-by-step explanation:

Jackie runs and dances for 75 minutes every day.
She dances 25 minutes more than she runs.

What is the greatest amount of time she could spend dancing every day,
given she will take a run.

Answers

Answer:

I think it is 50 because 75-25=50

In a class of 50 students, suppose 27 are right-handed, 9 are left-handed, and 14 are ambidextrous. All but 2 of the left-handed are also left-foot dominate. If one student is randomly selected from the class. find the probability of choosing a left-handed student who is right-foot dominate

Answers

2/50 = 1/25 i think


1/25 is my answer

9. A box of cereal weighs 600 grams. How much is this weight in pounds?
Explain or show your reasoning. (Note: 1 kilogram = 2.2 pounds)

Answers

Answer:

1.323 pounds I think I'm not too sure thi sorry

Answer:

1.32 pounds

Step-by-step explanation:

convert 1kg to 1000g

[tex]1000g = 2.2pounds[/tex]

Find out how many pounds per 100g

[tex]100g = 0.22 \: pounds[/tex]

multiply by 6 to get 600g and multiply right hand side of the equation as well

[tex]600g = 0.22 \times 6[/tex]

[tex]600g = 1.32 \: pounds[/tex]

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