Melanie is going to invest in an account paying an interest rate of 3.1% compounded
daily. How much would Melanie need to invest, to the nearest dollar, for the value of
the account to reach $11,900 in 14 years?

Answers

Answer 1

Using compound interest, it is found that Melanie would need to invest a value of $7,710.

What is compound interest?

The amount of money earned, in compound interest, after t years, is given by:

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

A(t) is the amount of money after t years.  P is the principal(the initial sum of money).  r is the interest rate(as a decimal value).  n is the number of times that interest is compounded per year.  t is the time in years for which the money is invested or borrowed.

In this problem, we have that:

Rate of 3.1%, hence [tex]r = 0.031[/tex].Compounded daily, hence [tex]n = 365[/tex].Value of $11,900 in 14 years, hence [tex]t = 14, A(t) = 11900[/tex].The amount she needs to invest is P.

Hence:

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

[tex]11900 = P\left(1 + \frac{0.031}{365}\right)^{365(14)}[/tex]

[tex]1.54339P = 11900[/tex]

[tex]P = \frac{11900}{1.54339}[/tex]

[tex]P = 7710[/tex]

Melanie would need to invest a value of $7,710.

To learn more about compound interest, you can take a look at https://brainly.com/question/25781328


Related Questions

if 12 is to 3 as 61 is to​

Answers

Answer:

15.25

Step-by-step explanation:

Could i get brainliest :D

Answer:

HOPE IT HELPS

HAVE A NICE DAY


Can someone help-? Like which one is the right answer

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I believe it would be 10.3
Wouldn’t it just be 14?

The following expression has 4 terms.

3x + 3y - 4ab

True
False

Answers

Answer:

3x-4ab+3y

Step-by-step explanation:

I think false as we can see there is not such numbers which makes 9 when multiplied and 4 when added

4.752 x 10"
Standard form

Answers

Answer:

475200000000

Step-by-step explanation:

it is 10 the power of 11 right

find the measure of
a. 180 degrees
b. 149 degrees
c. 63 degrees
d. 32 degrees

Answers

Answer:

31 Degrees

Step-by-step explanation:

63+86= 149

180-149=31

factor: m^2 - 20m - 21

Answers

(m-21) (m+1)there I thinks it's right unless I messed up my work

Answer:

[tex](m - 21)(m + 1)[/tex]

Step-by-step explanation:

[tex]m^{2} - 20m - 21[/tex]

Lets split the middle term.

[tex]=> m^{2} - 21m + m - 21[/tex]

[tex]=> m(m - 21) + 1(m - 21)[/tex]

[tex]=> (m - 21)(m + 1)[/tex]

Is the exponent of a number without a written exponent 1 or 0?

Answers

Answer:

1

Step-by-step explanation:

Answers:1
That the answers

What does 12/18÷3/5 equal to in simplest form?

Answers

Answer:

10/9

Step-by-step explanation:

12/18÷3/5

Simplify

2/3÷3/5

Rule: a÷b/c=a*c/b

2/3*5/3

Rule: a/b*c/d=ac/bd

2/5*3/3

Simplify

10/3*3

Simplify

10/9 (decimal 1.1...)

Hope this help's :)

​  

 

Quadrilateral ABCD is dilated by a scale factor of 3/2 to create quadrilateral A'B'C'D'. If quadrilateral ABCD has an area of 30, what is the area of quadrilateral A'B'C'D'?

Answers

Answer:

67.5

Step-by-step explanation:

Transformation is the movement of a point from its initial location to a new location. Types of transformation are translation, rotation, reflection and dilation.

Dilation is the enlargement or reduction of an object by a factor.

The area of ABCD = AB * BC = 30

As a result of the dilation to form A'B'C'D', A'B' = 3/2 * AB, B'C' = 3/2 * BC, C'D' = 3/2 * CD and A'D' = 3/2 * AD. Hence:

Area of A'B'C'D' = A'B' * B'C' =  3/2 * AB * 3/2 * BC = 9/4 * (AB * BC) = 9/4 * 30 = 67.5

Answer:

the transformation quadrilateral ABCD undergoes is a reflection.

Step-by-step explanation:

What is the area of the trapezoid?
6 feet
8 feet
10 feet

1. 80 ft 2
2. 60 ft 2
3. 24 ft 2
4. 64 ft 2

Answers

2: it’s number 2 60 ft and 2

Caden biked 1 2/5 miles in 1/4 hour. If it is currently 4:00 P.M. and he has to bike 14 miles. At what time will he be finished?​

Answers

Answer:

He will finish the biking at 6:30 pm

Step-by-step explanation:

1/4 hour is same as 1/4 * 60 = 15 minutes

1 2/5 miles is same as 1.4 miles

He bikes 1.4 miles in 15 minutes

then he will bike 14 miles in 15 * 10 = 150 minutes

150

minutes is same as 2 hours 30 minutes

Adding this to 4 pm, we will get;

6:30 pm

Triangle ABC is a right triangle. Triangle A B C is a right triangle. Angle A C B is 90 degrees, angle C B A is 31 degrees, and angle B A C is 59 degrees. What is the relationship between angles A and B?

Answers

Answer:

see explanation

Step-by-step explanation:

Complementary angles sum to 90°

∠ CBA = 31° and ∠ BAC = 59° , sum to 90° (31° + 59° = 90° )

Thus

∠ A and ∠ B are complementary angles

Answer: They are complementary

Step-by-step explanation: took the test on edge!

what is the answer to 22 +10X=

Answers

Complete question:

what is the answer to 22 +10x = 0

Answer:

the value of x is -2.2

Step-by-step explanation:

Given;

22 +10x = 0

collect like terms

10x = 0 - 22

10x = -22

divide both sides by 10

[tex]\frac{10x}{10} = \frac{-22}{10} \\\\x = -2.2[/tex]

Therefore, the value of x is -2.2

what units do scientist use to measure force

Answers

Answer: newtons

Step-by-step explanation:

Answer:

I believe it is Newtons :)

Step-by-step explanation:

Quadratics Help!!! (Number 11)

Answers

Answer:

a) 2x + 1, 4x + 7

b) L = 19 cm, W = 7 cm, A = 133 cm^2

Step-by-step explanation:

8x^2 + 18x + 7

ax^2 + bx + c

ac = 8 * 7 = 56

56 = 4 * 14

8x^2 + 18x + 7 =

= 8x^2 + 14x + 4x + 7

= 2x(4x + 7) + 1(4x + 7)

= (2x + 1)(4x + 7)

a) 2x + 1, 4x + 7

b)

2(3) + 1 = 7

4(3) + 7 = 19

A = LW = 19(7) = 133

kevin has a part time job
he earns £8 an hour
he wants to buy a new bike costing £176
how many hours does he need to work to earn enough to but it?

Answers

Kevin has to work 22 hours to afford the bike
pretty sure the answers 1408 hours
cuz 176 x 8 is 1408

what is the constant of variation in this relation?

Answers

Answer:

Please check the explanation.

Step-by-step explanation:

We know that when 'y' varies directly with 'x', we get the equation

y ∝ x

y = kx

k = y/x

here k is the constant of variation.

From the table,

substitute x = -3, y = -4 in the equation

k = y/x

k = -4/-3

k = 4/3

substituting x = -2, y = -1

k = y/x

k = -1/-2 = 1/2

substituting x = -1, y = 2

k = y/x

k = 2/-1 = -2

substituting x = 0, y = 5

k = y/x

k = 5/0 = ∞

substituting x = 1, y = 8

k = y/x

k = 8/1

k = 8

substituting x = 2, y = 11

k = y/x

k = 11/2

substituting x = 3, y = 14

k = y/x

k = 14/3

It is clearly visible that there is no constant of variation because the ratio y = k/x is variating for different ordered pairs.

Thus, It is clear that none of the answers in the answer choices represent the constant of variation in this relation.

Can the triangles be proven similar and how

Answers

Answer:

yes

Step-by-step explanation:

The two equilateral triangles below are similar figures. What is the scale factor from the small triangle on the left to the large
triangle on the right? The triangles are not drawn to scale.

Answers

Answer:

12 : 58.8   which simplies to 1 : 4.9

Step-by-step explanation:

Are the ratios 10:20 and 2:4 equivalent. yes or no? PLEASE HELP! :D

Answers

Answer:

yes they are equivalent

Answer:

[tex]\huge\bold\purple{ Yes }[/tex]

If a car travels 400 meters in 20 seconds how fast is it going?

Answers

Answer:

[tex]\huge\boxed{\sf v = 20\ m/s}[/tex]

Step-by-step explanation:

Given Data:

Distance = S = 400 m

Time = t = 20 secs

Required:

Speed = v = ?

Formula:

v = S/t

Solution:

v = 400 / 20

v = 20 m/s

[tex]\rule[225]{225}{2}[/tex]

Hope this helped!

~AH1807

1.) Identify the degree of the term 3xy4

Answers

I think it’s 4 if the y4 is supposed to be y^4

The ordered pair (x – 3, y + 1) was used to translate an object. To find the pre-image of the object, you would need to move _____.

A three units left and one unit up
B three units down and one unit right
C three units left and one unit down
D three units right and one unit down

Answers

b. three units down and one unit right

x minus will always translate down, x plus will always translate up.

y minus will always translate left, y plus will always translate right.

It takes 198198198 seconds to boil a perfect egg at the lowest place possible, the edge of the Dead Sea, which has an altitude of -418−418minus, 418 meters. The highest place possible is the summit of Mount Everest which has an altitude of 884888488848 meters. It takes 209209209 seconds to boil a perfect egg there. T(a)T(a)T, left parenthesis, a, right parenthesis models the time (in seconds) it takes to boil a perfect egg at an altitude of aaa meters.

Answers

Given that,

An egg takes 198 seconds to boil a perfect egg has an altitude of -418 m.

Also it takes 209 seconds at an altitude of 8848 m.

To find,

The domain of T.

Solution,

Domain is the set of input values for which the function is defined. The least value is -418 m and the highest value is 8848 m. So, the domain is :

[tex]-418\le x \le 8848[/tex]

Therefore, this is the required solution.

Answer:

real numbers

−418≤a≤8848

Step-by-step explanation:

Name the plane represented by the right side of the box?

Answers

Answer:

I believe it is BCG

Step-by-step explanation:

BCG I think ........

If one of the angle is 60 degree and the other two are in the ratio 1:2,
find the angles.

Answers

Answer:

Let the two angles be x and 2x

Sum of angles of triangle=180°

60+x+2x=180

3x=180-60

x=120/3

x=40

2x=80

Step-by-step explanation:

40 and 80 are other two angles

3.12 divided 1/2
I need help with this question

Answers

Answer:

6.24

Step-by-step explanation:

A person hikes 4 miles in 2.5 hours. Find the unit rate in miles per hour.


Then find the unit rate in hours per mile.

Answers

Answer:

Step-by-step explanation:

60 miles per hour

Since d=rt, r = d/t = 420 miles/7 hours = 60 miles per hour.

Please helppp answer correctly !!!!!!!!!!!!!! Will mark Brianliest !!!!!!!!!!!!!!!

Answers

Answer:

21

Step-by-step explanation:

Remember that the centroid splits the 3 medians of a triangle into a ratio of 1:2

Since TS < TN, TS = 42/2 = 21

jackie is solving this system of linear questions: 3x+2y= 20

4x-y=30

which equations could be part of the process of solving this system?

4x+6y=20

12x+8y=80

8x-y=60

8x-2y=60

Answers

Answer: 12x+8y=80

8x-2y=60

Step-by-step explanation:

The equations that could be part of the process of solving this system are 12x+8y=80 and 8x-2y=60.

The original equation was 3x+2y= 20 and 4x-y=30. Multiplying all through by 4 gives 12x+8y=80 and 8x-2y=60.

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