anonymous 4 years ago A technical writer makes $45,000 per year and has just begun contributing 8% of her salary to her 401(k) plan. If her employer matches 6% of her contributions, how much will have been contributed to the 401(k) plan after 2 years?

Answers

Answer 1
add everything up except the 45,000 and 402(K). then subtract 45,000$ from 401. Then subtract your answers to both equations.
Answer 2

Answer:

$7,632 would have been contributed to the 401(k) plan after 2 years.

Step-by-step explanation:

A technical writer makes salary per year = $45,000

She contributing 8% of her salary to her 401(k) plan = 8% of 45,000

0.08 × 45,000 = $3,600

Her employer matches 6% of her contributions = 6% of 3,600

= 0.06 × 3,600 = $216.00

Total contribution for one year = 3,600 + 216.00 = $3,816

After 2 years = 3,816 × 2 = $7,632.00

$7,632 would have been contributed to the 401(k) plan after 2 years.


Related Questions

6a - 10 = 3a + 17 please explain how you got your answer

Answers

First we add 10 to both sides
next we add 3a + 17 + 10 so it can be 3a + 27
next we subtract 3a from both sides
next we subtract 6a - 3a and we get 3a
then we divide both sides by 3
and lastly we divide 27/3 to get our answer

Answer: a = 9.

Joey wants to buy a used car that costs $2500. He has already saved $1200 and makes $50 a week as a dog walker. Write and solve an equation to find the number of weeks, w, he must work until he has enough to purchase the car.

Answers

2500=1200+50w
Hope this helped!

Joey must work 26 weeks until he has enough to purchase the car.

What is an Equation?

An equation is a mathematical statement formed when two algebraic expressions are equated using an equal sign.

The equations are useful in determination of unknown parameters.

Joey wants to buy a used car,

The cost of the car is $2500.

The money he has saved is $1200

The money he makes by walking a dog is $50 per week.

Let w represent the number of weeks.

The equation for the condition can be written as:

The cost of the car is equated with the money he has and the money he earned in w weeks by dog walking.

2500 = 1200 + 50w

To determine the number of weeks he has to work to buy the car, the equation has to be solved for w,

50w = 2500 - 1200

50w = 1300

w = 1300 / 50

w = 26 weeks.

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HELP PLEASE ASAP!!!!!!!!!!!!!!!!!!!!

Answers

Line 4, you are supposed to divide/multiply before you add/subtract.

They added 5+16 but instead they should've divided 42/5.

Hope this was fast enough!
the mistake is in line 4 the correct answer is 24.4

Latex-free gloves can be purchased in a box of 100 for $44.95 or a box of 50 for $23.50. Which one would be the better deal

Answers

I believe that a box of 50 for $23.59 would be a better deal because 23.50 divided by 50 would equal 0.47, or in this case, 47 cents. 44.95 divided by 100 equals 0.4495, or 4495 cents. I think I'm wrong, but you can take this answer if you'd like

You are picking up a friend and going to a concert. your friend lives 3 miles west of your house and the concert is 21 miles east of your friends house. when you are at the concert, how far away from home are you

Answers

24 miles away from your house

what is the relationship between two lines that intersect to form angles?

Answers

Two lines that intersect and form right angles are called perpendicular lines. 

In the diagram below bd is parallel to xy what is the value of y?

Answers

we know that

if the lines bd and xy are parallel. then

[tex]y+70\°=180\°[/tex] --------> by consecutive interior angles

so

Solve for y

Subtract [tex]70\°[/tex] both sides

[tex]y+70\°-70\°=180\°-70\°[/tex]

[tex]y=110\°[/tex]

therefore

the answer is

[tex]y=110\°[/tex]

Answer:

Option C. y = 110°

Step-by-step explanation:

In this question BD and XY are two parallel line and a transverse is intersecting both the lines at A and E.

Now ∠BAE = ∠AEY = 70° [ alternate interior angles ]

and ∠EAD + ∠BAE = 180° [ supplementary angles ]

or y + 70° = 180°

⇒ y + 70 - 70 = 180 - 70

⇒ y = 110°

Therefore Option C. measurement of y = 110° is the answer.

If a parabola’s focus is at (1,1) and directrix is at y = 7, what is the standard form of the equation representing this parabola

Answers

Final answer:

The standard form of the equation of the parabola with focus at (1, 1) and directrix 'y = 7' is (x - 1)² = 12(y - 4). The vertex is found by determining the midpoint between the focus and directrix, and the 'a' value is found by calculating half the distance between the focus and directrix.

Explanation:

To find the standard form of a parabola given the focus and directrix, we'll use the definition of a parabola itself. A parabola is defined as the set of points that are equidistant from a point, known as the focus, and a line, known as the directrix.

The equation representing a parabola is: (x - h)² = 4a(y - k) where (h, k) is the vertex of the parabola and 'a' denotes the distance between the vertex and the focus or the vertex and the directrix.

The mid-point of the focus (1, 1) and the directrix y=7 gives the coordinates of the vertex. So, h = 1 and k = (1+7)/2 = 4.

Now, 'a' is half the distance between the focus and directrix, a = (7-1)/2 = 3.

So, the standard form of the equation is (x - 1)² = 12(y - 4)

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which of the following are necessary when proving the opposite sides of a parallelogram are congruent? Check all that apply. A) Opposite sides are perpendicular B) Corresponding parts of similar triangles are similar C) Opposite sides are congruent D) Corresponding parts of congruent triangles are congruent

Answers

1. Opposite sides are parallel 2. Corresponding parts of congruent triangles are congruent

Answer:

C - Opposite sides are congruent  

D - Corresponding parts of congruent triangles are congruent

Step-by-step explanation:

A parallelogram is a quadrilateral whose both pairs of opposite sides are parallel. In a parallelogram, the 2 sets of opposite sides are congruent. Also it has 2 sets of opposite angles congruent.

Therefore, the following are necessary when proving the opposite sides of a parallelogram are congruent.

C - Opposite sides are congruent  

D - Corresponding parts of congruent triangles are congruent

Kenya exchanges $150 for British pounds(£). Suppose the conversion rate is £1 = $1.60. How many pounds should she receive?

Answers

Okay. In order to find the answer to this question, we can divide the number of dollars by the amount per Euro. 1 British pound is equivalent to $1.60. 150/1.6 = 93.75. There. Kenya should receive 93.75 British pounds.

Which graph represents y – 1 = 2(x – 2)?

Thank You! :)

Answers

y = 2(x – 2)+1
y = 2x – 4+1
y = 2x-3

insert x=0 -> y=-3, only the first graph passes through (0,-3) -> it is the first graph

Answer:

Option A    

Step-by-step explanation:

Given : Equation [tex]y-1 = 2(x -2)[/tex]

To find : Which graph represents the given equation

Solution :

First thing we plot the graph of the equation.

We see that graph cuts at point (1.5,0) and (0,-3) to the coordinates.

From the given graph Option A graph cuts to these points.

Therefore, Option A is correct.

Refer the attached graph A.

Which arrangement shows 26/4 , 6.45, 6 2/5 , and 50/8 in order from least to greatest?

{A} 6 2/5 , 50/8 , 6.45, 26/4
{B} 50/8 , 6 2/5 , 26/4 , 6.45
{C} 26/4 , 50/8 , 6 2/5 , 6.45
{D} 50/8 , 6 2/5 , 6.45, 26/4

Answers

The answer is D: 50/8, 6 2/5, 6.45, 26/4

Answer:

Option D) [tex]\displaystyle\frac{50}{8} < 6\frac{2}{5} < 6.45 < \frac{26}{4}[/tex]

Step-by-step explanation:

We are given the following information in the question:

We are given a set of numbers:

[tex]\displaystyle\frac{26}{4}, 6.45, 6\frac{2}{5}, \frac{50}{8}[/tex]

First, we write all the numbers in decimal form.

[tex]\displaystyle\frac{26}{4} = 6.5\\\\6\frac{2}{5} = \frac{32}{5} = 6.4\\\\\frac{50}{8} = 6.25[/tex]

Hence, the given numbers are:

6.5, 6,45, 6.4, 6.25

Arranging in order of least to greatest:

[tex]6.25 < 6.4 < 6.45 < 6.5[/tex]

Thus,

[tex]\displaystyle\frac{50}{8} < 6\frac{2}{5} < 6.45 < \frac{26}{4}[/tex]

Option D is the correct option.

Why might a person need an emergency fund?

Answers

Answer:

To prepare for the unexpected, it is important to have a reserve fund set aside. Having a reserve fund is important, but it should not always be your first priority. If you have credit card or other debt, pay that off before you start to put your money in a reserve. Credit card debt has a high interest rate, while the money that you will save in your reserve probably won’t gain a lot of interest. Why not? When you choose a place to save your financial reserve, low risk is key. Remember that your financial reserve fund is for emergencies only. If you have an emergency and need to use it, do. Once you are back on your feet, replenish it. Also, once you have saved the amount you need, stop. Your extra savings will serve you better in an investment that yields higher interest.

Step-by-step explanation:

Words taken from the online site 1 on edge for "Why might a person need an emergency fund?"

The term “emergency fund refers to helping those times when a person is in need of money. An emergency fund allows you to save on rarer credit interest.

What is emergency fund?

The term “emergency fund” refers to the person's use of money at the time of need. Emergency money is saving money. They improve our financial security and safety. The emergency money is a small amount of money. For example, home repairs, paying medical bills, trip planning.

An emergency fund is money kept in a bank account to cover unexpected expenses like medical bills or car or home repairs. An emergency fund can also assist you in the event of a lack of income due to a job loss or prolonged illness.

Hence, the significance of the emergency fund is aforementioned.

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Find two consecutive integers whose sum is 67.

Which of the following equations could be used to solve the problem?

2x = 67
2x + 1 = 67
2x + 2 = 67
x2 + 1= 67

Answers

Let the smaller integer be x.
The next larger consecutive integer is 1 more than x, so it's x + 1.

x + x + 1 = 67

2x + 1 = 67

Answer is option B.

Answer:

2x + 1 = 67

Let the smaller integer be x.

The next larger consecutive integer is 1 more than x, so it's x + 1.

x + x + 1 = 67

2x + 1 = 67

10. Find the values of x, y, and z in the diagram below.

Answers

x = 180 - 104 - 22 = 180 - 126 = 54 degrees

y = 180 - 54 = 126 degrees

z = 180 - 126 - 19  = 180 - 145  = 35 degrees

The diameter of the circle above is 94 cm. what is the circumference of the circle? (use = 3.14.)

Answers

To find the circumference, you multiply the diameter by pi (3.14).

94 * 3.14 = 295.16

Hope this helps!

You spend $154 to make wooden bookends and plan to sell them online for $8.50 each. You will charge an additional $3.25 per bookend to wrap and ship them. How many bookends must you sell in order for your profit to be at least $600?

Answers

Final answer:

To make a profit of at least $600, the number of bookends that need to be sold is calculated by adding the desired profit to the initial cost, and then dividing this sum by the net revenue per bookend. The result is approximately 144 bookends.

Explanation:

The subject of this problem is Mathematics, specifically a topic within business math called 'breakeven analysis' or 'cost-volume-profit analysis'. It involves calculating the point at which revenue from selling a product equals the costs associated with producing and selling that product. In this case, you have spent $154 to make wooden bookends, and you plan on selling them online for $8.50 each. Additionally, there's a $3.25 fee per bookend for wrapping and shipping, which you charge to your customers. Your goal is to make a profit of at least $600.

To calculate the number of bookends that need to be sold, we first find the net revenue per bookend. This is the selling price minus the shipping cost, which comes out to $8.50 - $3.25 = $5.25 per bookend. The desired profit is added to the cost of making the bookends to find the total required revenue, which is $600 + $154 = $754.

Finally, total required revenue is divided by the net revenue per bookend to find the number of bookends that need to be sold: $754 ÷ $5.25 = approximately 144 bookends (rounded up to the nearest whole bookend since we can't sell a fraction of a bookend). So, in order for your profit to be at least $600, you must sell at least 144 bookends.

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Which of these fractions can be written as a recurring decimal 1/2 1/3 1/4 1/5

Answers

1/3 can be written as 33.33333333333% as well as other forms so the answer is 1/3
The fraction that has a recurring decimal is 1/3 which turns in to 0.3333333333

The length of a rectangle is 5 centimeters less than twice its width. The perimeter of the rectangle is 26 cm. What are the dimensions of the rectangle?


A. length = 7 cm; width = 6 cm


B. length = 4 cm; width = 9 cm


C. length = 6 cm; width = 7 cm


D. length = 5 cm; width = 5 cm

Answers

A. length = 7 cm; width = 6 cm

Use w to represent width, p as perimeter, and l for length.

l = 2w - 5

2l + 2w = p
2(2w - 5) + 2w = 26
4w - 10 + 2w = 26
6w - 10 = 26
6w = 36
w = 6

The only option with a width of 6 is A.
To check your answer, you can plug it in.
2(6) - 5 = 12 - 5 = 7

Hope this helps.

The correct option is [tex]\boxed{\text{\bf option C}}[/tex] i.e., the length is [tex]6\text{ cm}[/tex] and breadth is [tex]7\text{ cm}[/tex].

Further explanation:

The perimeter of arectangle is calculated as follows:

[tex]\boxed{\text{Perimeter}=2\cdot (l+b)}[/tex]

Here, [tex]l[/tex] is the length and [tex]b[/tex] is the breadth of the rectangle.

Given:

The length of the rectangle is [tex]5\text{ cm}[/tex] less than twice its breadth and the perimeter of the rectangle is [tex]26\text{ cm}[/tex].

Calculation:

Step 1:

First we write the dimensions in the form of variable [tex]x[/tex].

Consider [tex]x[/tex] as the breadth of the rectangle and [tex]y[/tex] as the length of the rectangle.

As per the question the length is [tex]5\text{ cm}[/tex] less than twice its breadth.

Therefore, the length can be expressed in the form of the equation as follows:

[tex]\boxed{y=2x-5}[/tex]  …… (1)

Step 2:

Now, we have to calculate the dimensions of the rectangle.

So, substitute [tex]l=2x-5[/tex] and [tex]b=x[/tex] in the formula of the perimeter of the rectangle to obtain the value of [tex]x[/tex].

[tex]\begin{aligned}\text{Perimeter}&=2\cdot (l+b)\\26&=2\cdot (2x-5+x)\\26&=2\cdot (3x-5)\\26&=6x-10\\6x&=26+10\\6x&=36\\x&=6\end{aligned}[/tex]  

Therefore, the breadth of the rectangle is [tex]6\text{ cm}[/tex].

Now, substitute [tex]x=5[/tex] in the equation (1) to obtain the value of the length.

[tex]\begin{aligned}l&=2x-5\\&=(2\cdot 6)-5\\&=12-5\\&=7\end{aligned}[/tex]

Therefore, the length of the rectangle is [tex]7\text{ cm}[/tex].

Thus, the correct option is [tex]\boxed{\text{\bf option C}}[/tex] i.e., the length is [tex]6\text{ cm}[/tex] and breadth is [tex]7\text{ cm}[/tex].

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Answer details:

Grade: Junior school

Subject: Mathematics

Topic: Area and Perimeter  

Keywords: Length, breadth, perimeter, area, side, dimensions, rectangle, shapes, figure, triangle, square, equation, variable, constant, twice, area, mensuration.

Manganese-56 is a beta emitter with a half-life of 2.6 h. what is the mass of manganese-56 in a 1.0-mg sample of the isotope at the end of 10.4 h?

Answers

The mass at time may be expressed by
[tex]m(t) = m_{0} e^{-kt}[/tex]
where
m₀ = the original mass
k = decay constant
t = time, hours

Because the half-life is 2.6 h, therefore
[tex]e^{-2.6k} = 1/2 \\ -2.6k = ln(1/2) \\ k = \frac{ln(1/2)}{-2.6} =0.2666[/tex]

Since m₀ = 1.0 mg, the mass after 10.4 hours is
[tex](1.0 \, mg)e^{-0.2666*10.4} = 0.0625 \, mg[/tex]

Answer: 0.0625 mg

Answer: 0.0625

Step-by-step explanation:

Alice's backyard is a rectangular piece of property that is twice as long as it is wide. The total area of her yard is 500 m^(2). What is the approximate width of her backyard?

Answers

The approximate width of Alice's backyard is 22.36 in.

Let l be the length of the rectangle and w be the width.
l = 2w
A = 1000 m2 = l*w
1000 m2 = 2w *w
500 m2 = w^2
√500 m2 = √w^2
w = 22.360679775 in or 22.36 in
16 can be approximate width and length which is doubled can be 32, multiply and get 512 which is close to 500m^2, you can also try other close related approximate solutions such as 15 and 30, and more, but closest approximate whole numbers would be *16 as width and 32 as length*

The table shows conversions for common units of capacity. Units of Capacity Customary System Units Metric System Units 1 gallon 3.79 liters 1 quart 0.95 liters 1 pint 0.473 liters 1 cup 0.237 liters What is the conversion factor to convert cups to liters?

Answers

Final answer:

The conversion factor to convert cups to liters is 0.237. When converting from cups to liters, multiply the number of cups by 0.237.

Explanation:

According to the conversion table provided, the conversion factor to convert cups to liters is 0.237. That means for every 1 cup, it equals approximately 0.237 liters. To convert from cups to liters, you simply multiply the number of cups by this conversion factor, 0.237.

For example, to find out how many liters is 2 cups, you do the multiplication: 2 cups * 0.237 = 0.474 liters.

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The complete question is given below:

Given : A table showing conversions for common units of capacity.

                              Units of  capacity  

Customary System Units                             Metric System Units

        1 gallon                                                           3.79 liters

        1 quart                                                            0.95 liters

         1 pint                                                              0.473 liters

         1 cup                                                              0.237 liters

What is the conversion factor to convert cups to liters?

Final answer:

The conversion factor to convert cups to liters, according to the given table, is that 1 cup equals 0.237 liters. To convert any amount of cups to liters, multiply the number of cups by 0.237.

Explanation:

The table in your question provides the conversion factors for common units of capacity, including the conversion of cups to liters in both the Customary and Metric systems.

According to the table, 1 cup is equivalent to 0.237 liters. This means that to convert any given number of cups to liters, you multiply the number of cups by 0.237.

For example, to convert 5 cups into liters, you would perform the following calculation: 5 cups × 0.237 = 1.185 liters. This conversion factor is useful in everyday scenarios such as cooking or reading a recipe that uses different measurement systems.

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An angle measuring 22 degrees is bisected what is the measure of the angle that are formed

Answers

11 degrees is the answer. Have a nice day! 

9.12cm
10.36cm
11.34cm
12.61cm

Answers

tan80 = QR / RS
QR = 5.67 (2)
QR = 11.34

answer

11.34cm

Is each line parallel, perpendicular, or neither parallel nor perpendicular to the line x + 2y = 6?

Drag each choice into the boxes to correctly complete the table

y= -1/2x+5
-2x+y=-4
-x+2y=2
x+2y=-2

Answers

y=-1/2x+5 is parallel.
-2x+y=-4 is perpendicular.
-x+2y=2 is neither.
x+2y=2 is parallel.
Hope this helps

ANSWER

We need to rewrite [tex]x+2y=6[/tex], in slope intercept form.

[tex]\Rightarrow 2y=-x+6[/tex],

[tex]\Rightarrow y=-\frac{1}{2}x+3[/tex]


The given equation has a slope of [tex]-\frac{1}{2}[/tex].

ANSWER TO QUESTION 1

We now the write given options also in slope intercept form.


For the first one, we have

[tex]y=-\frac{1}{2}x+5[/tex]


This first equation also has a slope  of [tex]-\frac{1}{2}[/tex].


Hence [tex]y=-\frac{1}{2}x+5[/tex] is parallel to [tex]x+2y=6[/tex].


ANSWER TO QUESTION 2:

The second equation is;

[tex]-2x+y=-4[/tex].


We need to write this one too in slope intercept form.


[tex]y=2x-4[/tex]


This second equation has a slope of 2

Since [tex]2\times -\frac{1}{2}=-1[/tex], the line [tex]-2x+y=-4[/tex]

is perpendicular to [tex]x+2y=6[/tex].



ANSWER TO QUESTION 3

We rewrite the equation [tex]-x+2y=2[/tex] in slope intercept form.


[tex]\Rightarrow 2y=x+2[/tex]


[tex]\Rightarrow y=\frac{1}{2}x+1[/tex]


This equation also has a slope of [tex]\frac{1}{2}[\tex]

since the slope of [tex]-x+2y=2[/tex] is not equal to the slope of [tex]x+2y=6[/tex], and the product of these two slopes [tex]\frac{1}{2} \times - \frac{1}{2} \ne -1[/tex], the two lines are neither parallel nor perpendicular.



QUESTION 4

The given line has equation [tex]x+2y=-2[/tex]. We rewrite this equation in the slope intercept form.

[tex]\Rightarrow 2y=-x-2[/tex]


[tex]\Rightarrow y=-\frac{1}{2}x-1[/tex]


This line has a slope of [tex]-\frac{1}{2}[/tex].


Since this slope is the same as the slope of the given line,


[tex]y=-\frac{1}{2}x-1[/tex] is parallel to  [tex]x+2y=6[/tex].


See graph in attachment.








What is the discriminant of the polynomial below 9x2 - 18x + 9?

Answers

The quadratic polynomial is
9x² - 18x + 9

When compared to the standard form ax² + bx + c, the coefficients of the given polynomial are
a = 9, b = -18, c = 9

The discriminant is
D = b² - 4ac = (-18)² - 4(9)(9) = 0

Answer:  0

Answer:

The discriminant of the given polynomial is 0.

Step-by-step explanation:

The discriminant of a quadratic polynomial [tex]p(x)=ax^2+bx+c[/tex] is

[tex]D=b^2-4ac[/tex]

The given expression is

[tex]9x^2-18x+9[/tex]

Here,

[tex]a=9,b=-18,c=9[/tex]

The discriminant of a given polynomial is

[tex]D=(-18)^2-4(9)(9)[/tex]

[tex]D=324-324[/tex]

[tex]D=0[/tex]

Therefore the discriminant of the given polynomial is 0.

A man standing on a sidewalk looks up at the roof edge of a building. The building is 40 feet tall and the man stands 12 feet from the building.

What is the measure of the man's angle of inclination from where he stands?



Enter your answer, rounded to the nearest degree, in the box.

Answers

We have a triangle with bottom length of 12 feet and a height of 40 feet. We can apply sohcahtoa here. Since we have the opposite side and adjacent side we use toa. tan(theta)=opposite/adjacent=40/12 tan(theta)=3.33 repeating theta=arctan(3.33) theta=73.28 degrees.

If its rounded it would be 73 degrees

Using only the values given in the table for the function, f(x), what is the interval of x-values over which the function is increasing?(–6, –3)(–3, –1)(–3, 0)(–6, –5)

Answers

The answer is b (-3,-1)

The interval of x-values over which the function is increasing is (-3 , -1), the correct option is B.

What is a Function?

A function is a law that relates two variables namely, a dependent and an independent variable.

A function always has a defined range and domain.

The x values and the corresponding function values are shown in the figure.

The x and y values are:

-6      -34

-5       3

-4      -10

-3      -11

-2      -6

-1        -1

0        -2

1        -15

The  interval of x-values over which the function is increasing has to be determined.

The first option is (-6, -3) , the function is not increasing in this interval.

The second option is (-3 , -1) , the function is increasing in this interval.

The third option is(–3, 0), the function is not increasing in this interval.

The fourth option is (–6, –5), the function is not increasing in this interval.

Your question seems incomplete, the complete question is attached with the answer.

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Marcello is constructing the perpendicular bisector of AB¯¯¯¯¯. He has already constructed arcs as shown.



What should Marcello do for his next step?

A. Use the straightedge to draw AX←→ and AY←→.

B. Use the straightedge to draw a line through points X and Y.

C. Place the point of the compass on point X and draw an arc, using AX as the width for the opening of the compass.

D. Place the point of the compass on point X and draw an arc, using AY as the width for the opening of the compass.

Answers

To get the perpendicular of a line, a compass is needed to draw 2 arcs from the 2 ends of the line.

The radius of the arc must be more than half the length of the line.

By drawing a line through the 2 intersections of the arcs, you will get the perpendicular of the line.

Answer is B.
Your correct answer would be B! :D~Have a good day~ᘳಠ∀ಠᘰ

which expression shows the value of a rare postage stamp, originally purchased for $5000, that has been increasing in value by 11% for 10 years

Answers

A = P(1+i)ⁿ, where P = original value, " i " = growth rate, n= #years; A= actual value:

A = 5000(1+0.11)¹⁰


A= 5000(1.11)¹⁰

A = $14,197.1

Final answer:

The future value of a rare postage stamp that cost $5000 and increases by 11% annually over 10 years is calculated using the compound interest formula V = P(1 + r)[tex]x^{n}[/tex], where P is the principal amount, r is the annual rate, and n is the number of years.

Explanation:

Calculating the Future Value of a Rare Postage Stamp

The value of a rare postage stamp, originally purchased for $5000, that has been increasing in value by 11% annually for 10 years can be calculated using the formula for compound interest: V = P(1 + r)[tex]x^{n}[/tex], where:

P = $5000,

n = 10 years.

Plugging these values into the formula, we get:

V = $5000(1 + 0.11) [tex]x^{10}[/tex]

Performing the calculations gives us the future value of the stamp after 10 years.

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