Lydia invested $8,300 in an account paying an interest rate of 2.2% compounded
daily. Assuming no deposits or withdrawals are made, how long would it take, to the
nearest tenth of a year, for the value of the account to reach $12,690?

Answers

Answer 1

Number of years taken to reach the amount of $12,690 is 5 days,

What is Compound interest?

Compound interest is the interest which is calculated on both the initial principal and the accumulated interest from previous periods. It can be easily understood as interest on interest.

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

Principal amount invested by Lydia = $8,300

Rate of compound interest per day =2.2%

To find the number of years that have taken to reach the amount value of $12,690 .

By using compound interest formula,

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

[tex]12690 = 8300(1+ \frac{2.2}{365})^(365*t)[/tex]

[tex]\frac{12690}{8300}=(1.000060274)^{365*t}[/tex]

Taking log on both sides, we get,

log(1.5289156627) =365*t log(1.000060274)

log(1.5289156627)/log(1.000060274)= 365*t/log(1.000060274)⇒

0.184383 - 0.00002618= 365*t

⇒1843.5 =365*t

⇒t=5 days.

Hence, number of years taken to reach the amount of $12,690 is 5 days,

Learn more about compound interest here:

https://brainly.com/question/3989769

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Related Questions

Data was collected on the amount of food (in grams) served at two restaurants and the price paid for the meal. The regression line for the data appears on the first plot. The second plot shows the regression analysis conducted when the data is analyzed separately for each of the two restaurants. Which of the following statements best describes the relationship between the variables?

a. The correlation between amount of food served and price is very strong within each restaurant, but seems weak when both restaurants are combined.
b. The correlation between amount of food served and price is strong.
c. The correlation between amount of food served and price is weak within each restaurant, but seems strong when both restaurants are combined.
d. The correlation between amount of food served and price is weak.

Answers

Answer:

Option A, The correlation between amount of food served and price is very strong within each restaurant, but seems weak when both restaurants are combined.

Step-by-step explanation:

The graphs for this question are provided in the attachment

Solution -

Graph I - the data points in the graph I do not follow any best fit curve or trendline. This indicates that data is not correlated.

Graph -II In graph II, apart from few outliners majority of data points lie on the best fist curve or the trendline.

Hence, the relation between the two variables i.e food served and price is strong.

Option A fits well for our answer hence it is the correct answer

laShea would like to invest her $100 in birthday money. Which option will give her the most money at the end of the investment period?
1 year at 8 percent
1.5 years at 7 percent
2 years at 6.5 percent
3 years at 4 percent ​

Answers

Third choice because 1,5 years at 7 percent would of been kore

Answer:

C. 2 years at 6.5 percent

Step-by-step explanation:

I took the quiz and got it right Edg.2021

Define/explain the symmetric property.

Answers

Step-by-step explanation:

The Symmetric Property states that for all real numbers x and y , if x=y , then y=x . Transitive Property. The Transitive Property states that for all real numbers x ,y, and z, if x=y and y=z , then x=z .

88% of the light aircraft that disappear while in flight in a certain country are subsequently discovered. Of the aircraft that are discovered, 72% have an emergency locator, whereas 86% of the aircraft not discovered do not have such a locator. Suppose a light aircraft has disappeared.
A) If it has an emergency locator, what is the probability that it will not be discovered?B) If it does not have an emergency locator, what is the probability that it will be discovered?C) If we consider 10 light aircraft that disappeared in flight with an emergency recorder, what isthe probability that 7 of them are discovered?

Answers

Answer:

a) [tex]P(D'/L)=0.03[/tex]

b) [tex]P(D/L')=0.7[/tex]

Step-by-step explanation:

From the question we are told that

Probability of discovered [tex]P(D)=0.88[/tex]

Probability of aircraft with locator [tex]P(L/D)=0.72[/tex]

Probability of lost aircraft without locator [tex]P(L'/D')=0.86[/tex]

Generally the probability that aircraft are not discovered is mathematically given as

[tex]P(D')=1-0.88[/tex]

[tex]P(D')=0.12[/tex]

Generally the probability that aircraft with locator are discovered is mathematically given as

[tex]P(L'/D)=1-0.72[/tex]

[tex]P(L'/D)=0.28[/tex]

Generally the  Probability of lost aircraft without locator mathematically given as

[tex]P(L/D')=1-0.86[/tex]

[tex]P(L/D')=0.14[/tex]

Generally the  Probability of having a locator mathematically given as

[tex]P(L)=P(L/D)*P(D)+P(L/D')*P(D')[/tex]

[tex]P(L)=0.72*0.88+0.14 *0.12[/tex]

[tex]P(L)=0.6504[/tex]

a)Generally the  Probability of getting lost even with locator mathematically given as

[tex]P(D'/L)=\frac{P(L/D')(P(D')}{P(L)}[/tex]

[tex]P(D'/L)=\frac{0.14*0.12}{0.6504}[/tex]

[tex]P(D'/L)=0.0258302583[/tex]

[tex]P(D'/L)=0.03[/tex]

b)Generally the  Probability of getting lost even with locator mathematically given as

[tex]P(D/L')=\frac{P(L'/D)(P(D)}{P(L')}[/tex]

[tex]P(D/L')=\frac{0.28*0.88}{1-0.6504}[/tex]

[tex]P(D/L')=0.704805492[/tex]

[tex]P(D/L')=0.7[/tex]

if m=2 and b=-5, what is the equation of the line in slope intercept form

Answers

Answer:

y=2x-5

explanation:

y=mx+b

The average cost of a bag of popcorn at the movie theater was $3.50 in 1995 and $4.75 in 2015 find the percentage change in the price of the bag of popcorn from 1995 to 2015 and classify as a percent increase or percent decrease

Answers

Answer:

500$ dollars

Step-by-step explanation:

A recipe calls for 1 1/2 cups of flour for 1 dozen of cookies. How much flour is needed for 32 cookies?

Answers

Answer:

4 cups

Step-by-step explanation:

can u pls help me with this question 2​

Answers

12.3 - 7.9x!!
hope this helps :)

State the name of the property illustrated below.
(23+ 8) + 5 = 23+ (8 + 5)
What property is used

Answers

Answer:

Step-by-step explanation:

This is the associative property for addition. In informal language, it says under addition, the order of the addition is not critical.

Can you help if your are eligible to?

Answers

B is the correct answer18(y) = 6(x) x 3You got it correct.Please let me know if I am wrong.

A car dealership decreased the price of a certain car by 12%. The original price was $37,400.

Fill in the blank to write the new price in terms of the original price. Write your answer as a decimal. New price= × Original price

Use your answer in part (a) to determine the new price. Newprice: $​

Answers

Answer:

(b) The new price of car is $43584.

Step-by-step explanation:


Find the measure of each angle. Assume the lines are parallel
m<2 =
m<3=
m<4=
m<5 =
m<6 =
m<7=
m<8=
Please please please help
Will give brainily

Answers

Answer:

angles 3 5 and 7 equal 113

angles 2 4 6 and 8 equal 67

Joel is looking at payment plans for the gym.

Plan A: $25 per month plus $145 to start

Plan B: $50 per month


How many months would it take for Plan A to be cheaper than Plan B?

Answers

Answer:

5 months

Step-by-step explanation:

plan a: $145 +$25x ........ $145 + ($25 x 4)= $245

plan b: $50x.......... $50 x 5= $250

1 Jeremy is driving to a friend's house that is 88 miles away from his home. The scale on Jeremy's map is Inch is equivalent to 8 miles. How far is it on the map 2 from Jeremy's house to his friends house?

4 1/2 inches

3 1/2 inches

5 1/2 inches

9 1/2 inches


Answers

The awnser should be his house is 4.5 inches far

What is the fraction 7/12 as a product of a whole number and a unit fraction

Answers

Answer:

7 1/2 is the answer because you have to multiply the whole by the denominator. Make that product the numerator.

Step-by-step explanation:

The product of 8 and x is great than 50.

Answers

Answer:

The product of 8 and 7 is greater than 50

Answer:

8x > 50

Step-by-step explanation:

pls help this is due today whoever anders the most questions gets brainliest ​

Answers

Answer:

4. percent...........

Can one of you guys pls help

Answers

Answer:

Puts the dots where the A,B,C,D dots are and move them 5 units to the right.

Example:

Original place

A=(2,5)

Moved 4 units to the right:

A'=(6,5)

Here are some tips:

Up= Y value goes up

Down= Y value goes down

Right= X value goes up

Left X value goes down

At a pet store, a survey was taken asking how many pets each person had. The
results were: (2,5, 3, 1, 0, 4, 2, 7,0, 2, 7,3). What is the mode?

Answers

Answer:

2

Step-by-step explanation:

We have these numbers: 2, 5, 3, 1, 0, 4, 2, 7, 0, 2, 7, 3

The mode is the most common value. I can see 3 two's in the data set. The mode is 2.

#SpreadTheLove <3

Ariel spent a total of $3.42 buying dried apricots from the bulk bins, which were on sale for $2.85 per pound. To the nearest tenth of a pound, how many pounds of dried apricots did Ariel buy?

Answers

Answer:

1.2

Step-by-step explanation:

Just do 3.42/2.85 and u get 1.2 pounds.

Answer:

1.2 lbs

Step-by-step explanation:

3.42 (amount spent)/2.85(amount per pound)

I REALLY NEED HELP ITS WORTH 30 POINTS

Answers

Answer:

1) x < 30

2) x > 20

3) x >= 250

4) x > 20

5-10) I cant see the numbers on the graph

Step-by-step explanation:

Answer:

For the graphs you have to basically make those words into a mathematical equation to make more sense like for the first problem in which..

x>30

remember, open circles mean that its it can't be greater for symbols like < and >

closed circles are for inequalities that are greater than or equal to or less than or equal to which are these symbols: ≤ and ≥

Espaol
A math class has 7 girls and 3 boys in the seventh grade and 4 girls and 4 boys in the eighth grade. The teacher randomly selects a seventh grader and an
eighth grader from the class for a competition. What is the probability that the students she selects are both girls?
Write your answer as a fraction in simplest form.
M

Answers

Answer:

61%

Step-by-step explanation:

7g+3b= 7th grade

4g+4b= 8th grade

70% chance of a girl getting picked from 7th grade

50% chance of a girl getting picked from 8th grade class

11g+7b= both classes

about 61% chance for both classes to be a girl picked?

what is 6+5/7 converted into a mix number

Answers

Answer:

47/7

Step-by-step explanation:

I think the answer is 6 5/7 or 47/4

Answer:

6 5/7

Step-by-step explanation:

Hope this helps!

Best of luck! ♥

What dose that sing mean before the square root mean and also what is the answer

Answers

The thing before the square root means that the answer can be positive and negative.

mq/t=s/v solve for t

Answers

Answer:

t = mqv/s

Step-by-step explanation:

see pic for explanation

#9 Consider the expression 9x - 4b + 3. Select all of the statements below
that are true.*
There are 2 variables in the expression.
9 is the only coefficient in the expression
There are 2 terms in the expression.
3 is the constant in the expression
There are 3 terms in the expression
I need help plz

Answers

Answer:

Step-by-step explanation:

True:

- There are two variables

- 3 is the constant

- There are 3 terms in the expression

What is equivalent to 3;4

Answers

Answer:

6;8

3;4 that the lowest that it can go. the equivalent is 6;8 but if you want to change it into decimal form you can divide by two which is 1.5;2 but the answer is 6;8 because 3;4 is already in it's lowest form, or is already simplified to it's maximum extent.

Please help! Doing online because of pandemic!
For line b, d, and e, line d is parallel to line e, and m∠1 = 81°.
Part A: In complete sentences, explain the relationships between all pairs of special angles 1, 2, 3, and 4 created by transversal line b and parallel lines d and e.
Part B: For the given diagram, use the measure of the special angle relationships created by transversal line b and parallel lines d and e to find the measures of ∠2, ∠3, and ∠4.

Answers

Answer:

ART A:  Angles 1 and 4 are Corresponding Angles.  Angles 1 and 3 are Vertical Angles.  Angles 1 and 2 are Adjacent Supplementary Angles.  Angles 2 and 3 are also Adjacent Supplementary Angles.  Angles 3 and 4 are Opposite Interior Angles.  

PART B:  

<2=99 °

<3=81 °

<4=99 °

Step-by-step explanation:

PART A:  Angles 1 and 4 are Corresponding Angles.  Angles 1 and 3 are Vertical Angles.  Angles 1 and 2 are Adjacent Supplementary Angles.  Angles 2 and 3 are also Adjacent Supplementary Angles.  Angles 3 and 4 are Opposite Interior Angles.  

PART B:  

<2=99 °

<3=81 °

<4=99 °

There is a chowder eating contest in a small New England town. The distribution of the amount of chowder consumed is bell-shaped with mean 32 ounces and variance 64 ounces. If two hundred people participated in the contest, find the following.a. The number of people who consumed between 24 and 40 ounces of chowder.b. The number of people who consumed between 16 and 40 ounces of chowder.

Answers

Answer:

Interval ( 24 ; 40 ) has  136 participants

Interval ( 16 ; 40 ) has 163 participants

Step-by-step explanation:

Normal distribution.

As variance is 64     then  standard deviation is σ = 8

And  mean   μ₀ = 32

We can see that   μ₀ ± σ      is    32 ± 8

The interval  (  32- 8 ; 32+8 )  is  ( 24 ; 40 )

By empirical Rule we know that   μ₀ ± σ   contains 68% of the population then   200*0,68 = 136

The number of participants between 24 and 40  is 136

By symmetry of these 136   half of them are between 32 and 40 ( 136/2 = 68 )  ( between mean and 40 )

Now in the interval  ( 16 ; 40 ) we note that  16 is  32 - 16  = 16 or μ₀ - 2σ

And again by empirical rule  μ₀ ± 2σ has 95 % of the population that means 200*0.95 = 190 and by symmetry 190/2   95 are between  μ₀ - 2σ, therefore

95 people are between        μ₀ - 2σ   or between  ( 16  ; 32 ) and between  ( 32 ; 40  ) there are 68 people then

The interval  ( 16 ; 40 )  has  95 + 68  = 163 participants

An employee at a shoe store has observed that taller customers have larger shoe sizes than customers who are shorter. She knows that shoe sizes are based on foot length, so she hypothesizes: Compared with shorter people, taller people have longer feet. Look for patterns in the data. Describe any patterns you find.

Answers

Answer:

hello some information related to your question is missing

answer : The pattern discovered supports the hypothesis that taller customers have larger shoe sizes but with some exceptions and this exceptions are ; at Height 5ft 10 inches two people are seen to have different shoe sizes i.e. Eduardo with shoe size : 10.25 inches and Susan with shoe size : 10inches. another exception from the pattern is Lily having a height of 5 ft and shoe length of 9 inches .

Step-by-step explanation:

From the data given the pattern discovered supports the hypothesis that taller customers have larger shoe sizes but with some exceptions and this exceptions are ; at Height 5ft 10 inches two people are seen to have different shoe sizes i.e. Eduardo with shoe size : 10.25 inches and Susan with shoe size : 10inches. another exception from the pattern is Lily having a height of 5 ft and shoe length of 9 inches .

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