A savings account starts with $181.25. After 7 years of continuous compounding at an interest rate, r, the account has $1450. What is the interest rate percentage? Round the answer to the nearest hundredth.

Answers

Answer 1

         Rate of interest by which amount $181.25 becomes $1450 in 7 years by continuous compounding will be 29.71%.

Rule for the continuous compounding: Expression for the final amount comounded continuously is given by,

         Final amount = [tex]Pe^{rt}[/tex]

         Here, P = Principal amount

                    r = Rate of interest

                    t = Duration of investment

Given in the question,

P = $181.25

t = 7 years

Final amount = $1450

Substitute these values in the expression,

[tex]1450=181.25e^{7r}[/tex]

[tex]e^{7r}=8[/tex]

[tex]\text{ln}(e)^{7r}=\text{ln}(8)[/tex]

[tex]7r=2.07944[/tex]

[tex]r=0.2971[/tex]

[tex]r=29.71\%[/tex]

       Therefore, rate of intereset for the investment is 29.71%.

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Related Questions

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Answer:

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Step-by-step explanation:

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Pythagorean theorem and Converse; find the value of x.

Answers

Answer:

x = 12.206555

Step-by-step explanation:

10^2 + 7^2 = 149

Sqrt(149) = 12.206555 = x

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Therefore, the value of the hypotenuse [tex]x[/tex] is [tex]12[/tex].

What is the pythagorean theorem?

The Pythagorean theorem, or Pythagoras' theorem, is a fundamental relation in Euclidean geometry among the three sides of a right triangle.

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Here given that,

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Substitute the given values in the formula is

[tex]x^2=(7)^2+(10)^2\\\\x^2=49+100\\\\x^2=149\\\\x=\sqrt{149}\\\\x=12[/tex]

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What rational number is equivalent to .36 repeating

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Answer:

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Step-by-step explanation:

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Answer:

Letter A. 50,000 + 100 > 75,000

pls give me a brainly's and I hope this answer can help you

Answer:

A. 50,000+100× = 75,000

Step-by-step explanation:

there you go that is the correct answer

 If Ed earns $100 from each extra deal, then $25,000 divided by $100 equals 250. Ed sold 250 computers last year. The correct equation is (A) 50,000 + 100X = 75,000. Base Salary + (Commission Fee x Computers Sold) = Total Income, where the unknown "X" is the number of computers sold by Ed.

6th grade work please tell me the answer fast and don’t give me and incorrect one

Answers

Answer: 222cm

Step-by-step explanation:

To find the area of this composite shape you will have to split them into 2 shapes; a rectangle and a triangle.

To work out the area of the rectangle you have to do 15×12= 180

Then, to work out the area of the triangle, you use the formula base times height divided by 2.

7×12=84

84÷2=42

Then to work out the total area of both the rectangle and the triangle, you have to add the area of both.

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Hope this helps :)

Is this equation true?
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Answers

Answer:

No. the correct answer is 0.195.

Step-by-step explanation:

Answer:

No the answer is 0.195

Step-by-step explanation:

What does 19+6y-8 equal?

Answers

Answer:

Final Answer

11+6y

Step-by-step explanation:

You cannot affect the 6y because it’s an unknown value, so what you do is just simplify it as much as you can, you put 19 and take away 8, and it gives you 11, making your answer:
11+6y.

Did Will and Hector volunteer the same number of hours in April? Explain.

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Answer:

no

Step-by-step explanation:

If the circumfrence of a circle is 117cm find length​

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Answer:

find the length??

Step-by-step explanation:

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Abcdefghijklmnopqrstuvwxy&z

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(Will be marked brainlist)

Answers

Answer:

x = 45°

Step-by-step explanation:

We know that (2x + 45)° and x° are adjacent angles, so they add up to 180°.

(2x + 45) + x = 180

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3x = 180 - 45

3x = 135

x = [tex]\frac{135}{3}[/tex]

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Does it lie inside, outside, or on the circle?​

Answers

Answer:

Given circle:

(x - 4)² + y² = 25

The center is at (4, 0) and the radius is 5 units

Lets find the distance from (7, 2) to the center of the circle:

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Since d < 5, the point (7, 2) lies inside the circle

please do explain how u got it

Answers

Answer:

$3

Step-by-step explanation:

cost of tank tops

20 / 5 = $4 each

cost of t-shirts

35 / 5 = $7 each

7 - 4 = $3

Answer:

$3

Step-by-step explanation:

1.Approach

To solve this problem, one must first find the cost of each product. This can be done by diving the price by the amount of each product. After finding the unit price of each product, one will subtract the cost of the tank-top from the cost of the t-shirt.

2.The unit price of a t-shirt

It is the given that 5 t-shirts cost $35. Divide the price of the shirts by the number of shirts to find the cost of each individual shirt.

35 ÷ 5 = 7

Each individual t-shirt costs $7.

3.The unit price of a tank-top

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20 ÷ 5 = 4

Each tank-top costs $4.

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Now subtract the price of the unit price of the tank-top from the unit price of the t-shirt.

(t-shirt) - (tank-top)

= 7 - 4

= 3

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Answer:

c, a, b

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Answers

Answer:

44 + 45 = 99° divided by 2 = 49.5 (you can round to 49)

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Answers

Answer: Kim got 13 questions wrong.

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Step-by-step explanation:

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James used the numbers shown to write a 5 digit number on the board where the value of the 3 is 1/10 the value of the digit 3 in the number 234.89. What could be the number that James wrote on the board?

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Answers

Answer:

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Step-by-step explanation:

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The Countrywide building has a square base. It has 45 floors of offices, all of which have about the same number of windows.
If there are 8 windows on 1 side of the 23rd floor, what is a reasonable estimate for the number of windows in the entire building?

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D. 1,440 windows

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Answer:

Step-by-step explanation:

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24 divide by two is 12
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Which of the following best describes the difference between simple and compound interest?

Simple interest is easier to calculate than compound interest.

Simple interest earns interest on the previous interest earned only.

Compound interest earns interest on the principal plus any previous interest earned.

Compound interest earns interest on the principal only.

Answers

Answer:

Compound interest earns interest on the principal plus any previous interest earned.

Step-by-step explanation:

compound interest gets its name because the interest keeps on 'compounding' which means earning interest on interest

The correct best describes the difference between simple and compound interest is,

⇒ Compound interest earns interest on the principal plus any previous interest earned.

Option 3 is true.

What is Simple interest?

A quick and easy method of calculating the interest charge on a loan is called a Simple interest.

We have to given that;

To defined best describes the difference between simple and compound interest.

Now, We know that;

Compound interest pays interest on your previous balance plus your previous earned interest; simple interest pays interest only on your original balance.

Hence, The correct best describes the difference between simple and compound interest is,

⇒ Compound interest earns interest on the principal plus any previous interest earned.

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For the equation y - 3 = -2(x + 1) the line has a slope of -2 and
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Answers

It contains multiple points. If you’re looking specifically for a point plug the number that is on the x axis into the equation then solve for y.

Answer:

(0, -2) --> Y-Intercept

Step-by-step explanation:

y - 3 = -2( x + 1 )

y - 3 = -2x - 2

y= -2x -2

Y-Intercept = (0,y)

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Answers

Answer:

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Step-by-step explanation:

sin 255 = −0.965925826289068

What the person said above is correct

Jada has read 3/5 of a book.she has read 75 pages so far how many pages are in the whole book?

Answers

Answer:

125

Step-by-step explanation:

(75/3)*5=125

Answer:

D: 125

Step-by-step explanation:

Jada read 3/5 of the book (75 pages) so 1/5 is 25. Multiply that by 5 (25 x5) to get 125!

Hope this helps

§~…TheAnimeCatUwU…~§

Find the value of the trig ratio?

Answers

Answer:

3/5

Step-by-step explanation:

To find the value of sinX we divide opposite side with hypotenuse

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the perimeter of the gym floor is eighty-eight and six-hundredths meters long. What is this in standard form

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

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Step-by-step explanation:

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Answers

Answer:

2) 523.3 in²

Steps:

the given polygon is a heptagon

a regular heptagon's area = 7/4 × s² × cot(180°/7)

for the given heptagon

A = 7/4 × 12² × cot(180/7) ≈ 523.28 in² = 523.3 in² (rounded)


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Slope 2/1, y intercept is 6, equation is f(x)=6-2x
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