The principal is 2200.00 and the rate of interest, №17886236, 19.07.2021 10:57

Mathematics

The principal is 2200.00 and the rate of interest is 7% what is the final account balance after two years

Step-by-step answer

P Answered by PhD

1

2508

Step-by-step explanation:

We are given that

Principal ,P=2200

Rate of interest, r=7%

Time, t=2 year

We have to find the final account balance after two years.

$S.I=\frac{P\times r\times t}{100}$

Using the formula

$S.I=\frac{2200\times 7\times 2}{100}=308$

Amount=P+S.I

Amount=2200+308

Amount=2508

Hence, the final account balance after two years=2508

Mathematics

13. joe expects to spend at least $8500 on a used car, but he can’t afford to spend more than $12,000. which inequality could be used to describe the amount of money, x, that joe may spend on a car? a12000 - 8500 x b8500 x 12000 cx = 8500 or x = 12000 dx 8500 and x 12000 e 8500 x 12,000 f not enough information 14. teenagers should sleep between 8 and 10 hours per night. sarah typically sleeps 2 hours less than this per night. which inequality describes the amount of time that sarah sleeps? a10 x 12 b8 x 10 c6 x 12 d6 x 8 e 8 + 2 8 10 f 8 x 10

Step-by-step answer

P Answered by PhD

3

Answers:

13. E 8500 < x < 12,000

14. D 6∠x∠8

15. E 1600 < x < 2200

16. A1.02s > t > 0 s

17. 6.25 years

18. A5000 > (1500)(10)x

19. E 20.3 < 35 - 9.8t < 30.1

20. D$4167

Step-by-step explanation:

13.E 8500 < x < 12,000 ( the amount of money spent lies between 8500 and $12,000)

14. D 6∠x∠8 (subtracting 2 from both 8 and 10 will give 6 and 8 hours respectively

15. E 1600 < x < 2200 subtracting 600 calories for women

16. A1.02s > t > 0 s puttin the value of t=12,20

17. 6.25 years using the formula I=P*R*T/100

18. A5000 > (1500)(10)x

19.E 20.3 < 35 - 9.8t < 30.1

20 D$4167

Mathematics

13. joe expects to spend at least $8500 on a used car, but he can’t afford to spend more than $12,000. which inequality could be used to describe the amount of money, x, that joe may spend on a car? a12000 - 8500 x b8500 x 12000 cx = 8500 or x = 12000 dx 8500 and x 12000 e 8500 x 12,000 f not enough information 14. teenagers should sleep between 8 and 10 hours per night. sarah typically sleeps 2 hours less than this per night. which inequality describes the amount of time that sarah sleeps? a10 x 12 b8 x 10 c6 x 12 d6 x 8 e 8 + 2 8 10 f 8 x 10

Step-by-step answer

P Answered by PhD

3

Answers:

13. E 8500 < x < 12,000

14. D 6∠x∠8

15. E 1600 < x < 2200

16. A1.02s > t > 0 s

17. 6.25 years

18. A5000 > (1500)(10)x

19. E 20.3 < 35 - 9.8t < 30.1

20. D$4167

Step-by-step explanation:

13.E 8500 < x < 12,000 ( the amount of money spent lies between 8500 and $12,000)

14. D 6∠x∠8 (subtracting 2 from both 8 and 10 will give 6 and 8 hours respectively

15. E 1600 < x < 2200 subtracting 600 calories for women

16. A1.02s > t > 0 s puttin the value of t=12,20

17. 6.25 years using the formula I=P*R*T/100

18. A5000 > (1500)(10)x

19.E 20.3 < 35 - 9.8t < 30.1

20 D$4167

Mathematics

Part 1: you and your best friend want to take a vacation to australia. you have done some research and discovered that it will cost $2500 for the plane tickets, all-inclusive hotel and resort, and souvenirs. you have already saved $2200. if you invest this money in a savings account with a 1.55% interest rate compounded annually, how long will it take to earn enough money to go on the trip? use the compound interest formula a = p (1 + i)n, where a is the accumulated amount, p is the principal, i is the interest rate per year, and n is the number

Step-by-step answer

P Answered by PhD

3

Part 1) $8.3\ years$

Part 2) $\$2,424.27$

Part 3) $\$2,266.02$

Part 4) In the procedure

Step-by-step explanation:

Part 1) we know that

The compound interest formula is equal to

$A=P(1+i)^{n}$

where

A is the Final Investment Value

P is the Principal amount of money to be invested

i is the interest rate in decimal

n is number of years

n is the number of times interest is compounded per year

in this problem we have

$P=\$2,200\\ A=\$2,500\\ r=0.0155\\n=?$

substitute in the formula above

$\$2,500=\$2,200(1+0.0155)^{n}$

$(2,500/2,200)=(1.0155)^{n}$

Applying log both sides

log(2,500/2,200)=(n)log(1.0155)

n=log(2,500/2,200)/log(1.0155)

$n=8.3\ years$

Part 2)

in this problem we have

$P=?\\ A=\$2,500\\ r=0.0155\\n=2\ years$

substitute in the formula above

$\$2,500=P(1+0.0155)^{2}$

$\$2,500=P(1.0155)^{2}$

$P=\$2,500/(1.0155)^{2}$

$P=\$2,424.27$

Part 3) in this problem we have

$P=\$2,000\\ r=0.018\\n=7\ years$

substitute in the formula above

$P=\$2,000(1+0.018)^{7}=\$2,266.02$

The money is not enough

Part 4)

I would personally increase the investment from 2,200 dollars so that it grows to 2,500 dollars at the time I want to make the trip, for example if I wanted to make the trip in two years, I would increase the initial investment from 2200 dollars to 2427 dollars.

Mathematics

Part 1: you and your best friend want to take a vacation to australia. you have done some research and discovered that it will cost $2500 for the plane tickets, all-inclusive hotel and resort, and souvenirs. you have already saved $2200. if you invest this money in a savings account with a 1.55% interest rate compounded annually, how long will it take to earn enough money to go on the trip? use the compound interest formula a = p (1 + i)n, where a is the accumulated amount, p is the principal, i is the interest rate per year, and n is the number

Step-by-step answer

P Answered by PhD

3

Part 1) $8.3\ years$

Part 2) $\$2,424.27$

Part 3) $\$2,266.02$

Part 4) In the procedure

Step-by-step explanation:

Part 1) we know that

The compound interest formula is equal to

$A=P(1+i)^{n}$

where

A is the Final Investment Value

P is the Principal amount of money to be invested

i is the interest rate in decimal

n is number of years

n is the number of times interest is compounded per year

in this problem we have

$P=\$2,200\\ A=\$2,500\\ r=0.0155\\n=?$

substitute in the formula above

$\$2,500=\$2,200(1+0.0155)^{n}$

$(2,500/2,200)=(1.0155)^{n}$

Applying log both sides

log(2,500/2,200)=(n)log(1.0155)

n=log(2,500/2,200)/log(1.0155)

$n=8.3\ years$

Part 2)

in this problem we have

$P=?\\ A=\$2,500\\ r=0.0155\\n=2\ years$

substitute in the formula above

$\$2,500=P(1+0.0155)^{2}$

$\$2,500=P(1.0155)^{2}$

$P=\$2,500/(1.0155)^{2}$

$P=\$2,424.27$

Part 3) in this problem we have

$P=\$2,000\\ r=0.018\\n=7\ years$

substitute in the formula above

$P=\$2,000(1+0.018)^{7}=\$2,266.02$

The money is not enough

Part 4)

I would personally increase the investment from 2,200 dollars so that it grows to 2,500 dollars at the time I want to make the trip, for example if I wanted to make the trip in two years, I would increase the initial investment from 2200 dollars to 2427 dollars.

Mathematics

Part 1: you and your best friend want to take a vacation to australia. you have done some research and discovered that it will cost $2500 for the plane tickets, all-inclusive hotel and resort, and souvenirs. you have already saved $2200. if you invest this money in a savings account with a 1.55% interest rate compounded annually, how long will it take to earn enough money to go on the trip? use the compound interest formula a = p (1 + i)n, where a is the accumulated amount, p is the principal, i is the interest rate per year, and n is the number

Step-by-step answer

P Answered by Master

4

SEE EXPLANATIONS

Step-by-step explanation:

PART 1:

you have 2,200 and interest is 1.55%

A = 2200(1+0.0155)1 A = 2,234.10

A = 2200(1+0.0155)10 A = 2,565.80

A = 2200(1+0.0155)9 A = 2,526.63

A = 2200(1+0.0155)8 A = 2,488.07

9 Years with $2,526.63

PART 2:

A = 2425(1+0.0155)2 A = 2,500.76

You need to invest $2,425.00

PART 3:

A = 2000(1+0.018)7 A = 2,266.02

You have $2,266.02 which is underbudget

PART 4:

Personally, I would add to the investment of $2,200 so that it will grow to $2,500 faster. If I waited for just the $2,200 to grow alone it would take 9 years and if I'm looking at a trip now I would like to go sooner. So if I keep adding to the original $2,200 overtime it will collect interest faster and I would be able to take the trip sooner. I justify my answer with PART 2.

Mathematics

Imran is paid ?286 per week Every week he puts 20% of his wage into a savings account How much does he put into his savings each week

Step-by-step answer

P Answered by PhD

The answer is in the image