Francisco has a savings account balance of 2,033.88. The interest rate on the account is 2.9% compounded monthly. If he opened the account nine years ago what was the value of his initial deposit.
To find the initial deposit (P) of Francisco's savings account, we can use the compound interest formula P = A / (1 + r/n)^(nt) with the given values, leading to P = 2,033.88 / (1 + 0.029/12)^(12*9) and solve for P.
Explanation:To determine the value of Francisco's initial deposit in a savings account that has grown to $2,033.88 with an interest rate of 2.9% compounded monthly after nine years, we need to use the formula for compound interest:
P = A / (1 + r/n)^(nt)
Where:
P is the principal amount (initial deposit)A is the amount of money accumulated after n years, including interest.r is the annual interest rate (decimal)n is the number of times that interest is compounded per yeart is the time in yearsGiven:
A = $2,033.88r = 2.9% or 0.029n = 12 (since the interest is compounded monthly)t = 9 yearsSubstituting the given values into the formula, we get:
P = 2,033.88 / (1 + 0.029/12)^(12*9)
After calculating the above expression, we can find the initial deposit Francisco made into his savings account nine years ago.
Final answer:
Francisco initially deposited approximately $1,511.29 into the savings account.
Explanation:
To find out how much money Francisco initially deposited, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A is the final amount ($2,033.88)
P is the principal (initial deposit)
r is the interest rate per period (2.9% or 0.029 in decimal form)
n is the number of compounding periods per year (12 for monthly compounding)
t is the number of years (9)
Plugging in the values, we can solve for P:
2,033.88 = P(1 + 0.029/12)^(12*9)
Simplifying the expression:
2,033.88 = P(1.002416667)^108
2,033.88 = P(1.343917334)
P = 2,033.88 / 1.343917334
P ≈ $1,511.29
Therefore, Francisco initially deposited approximately $1,511.29 into the savings account.
Harry rides his bike 25 Start Fraction 3 over 8 End Fraction miles. Karen rides her bike 25two-fifths miles. Who rides farther?
Final answer:
After converting their distances to decimals, Karen rides farther than Harry with a distance of 25.4 miles compared to Harry's 25.375 miles.
Explanation:
The question is regarding who rides farther, Harry or Karen, given their distances in different fractional forms. Harry rides his bike 25 3/8 miles, and Karen rides 25 two-fifths miles. To compare, we must convert their distances to similar fractional forms or decimals. Converting three-eighths to a decimal gives us 0.375, and converting two-fifths to a decimal yields 0.4. Therefore, Harry rides 25.375 miles, and Karen rides 25.4 miles.
Through comparison, it is clear that Karen rides farther than Harry. Karen's total distance of 25.4 miles exceeds Harry's total distance of 25.375 miles, albeit by a slight margin.
Solve the inequality for x. Show each step of the solution. 12 x>9(2x-3)-15 (I'm having trouble with this one spefically)
Have an average weight of 16 ounces and a standard deviation of 0.2 ounces. the weights of the sugar bags are normally distributed. what is the probability that 16 randomly selected packages will have a weight in excess of 16.075 ounces?
you deposited $100 into your bank account. the next day, you needed $ 20 to go mini golfing. represent this situation with a set of integers.
1.-$20
2.-$80
3. $20
4.$100
5. -$100
what is an estimate of :78% of 112
How many standard deviations tend to fall on either side of the mean in a distribution?
What property of addition is shown in the following number sentence? Explain 7+(3+5)=(7+3)+5
The required property is associative property.
Given that,
To determine a property of addition is shown in the following number sentence 7+(3+5)=(7+3)+5.
The process in mathematics to operate and interpret the function to make the function or expression simple or more understandable is called simplifying and the process is called simplification.
Here,
7 + (3 + 5) = (7 + 3) + 5
Here, accoding to the PEMDAS rule, in mathematical string solution of the parenthesis is on priority. But we can see here on the left we add first 3 and 5 then the product adds to 7 and on the right, we add first 7 and 3 then the product adds to 5 gives the same result, this property of addition of number is called associative property.
As
7 + (3 + 5) = (7 + 3) + 5
7 + 8 = 10 + 5
15 = 15
Thus, the required property is associative property.
Learn more about simplification here: https://brainly.com/question/12501526
#SPJ2
In this henrik's class, there are 10 boys and 12 girls. What is the ratio of boys to girls? Express your answer as a fraction in simplest form.
Car 6 truck 10 suv 14 minivan 15 at this rate how many trucks would pass Luann if 90 vehicles passed her?
use substitution to solve the system 5x-3y=23 2x+y=7
Jess spent 7x minutes on the computer. Her sister spent 5 x + 10 minutes on the computer, which was the same amount of time Jess spent. How many minutes was Jess on the computer?
Answer: 35 minutes
Step-by-step explanation:
Given : Jess spent 7x minutes on the computer.
Her sister spent 5 x + 10 minutes on the computer, which was the same amount of time Jess spent.
Thus , we have
[tex]7x=5x+10[/tex]
Subtract 5x from both the sides , we get
[tex]2x=10[/tex]
Divide both sides by 2, we get
[tex]x=5[/tex]
Now, the time spent by Jess = 7(5)=35 minutes
Hence, Jess was 35 minutes on computer.
Anisa is cooling water in her fridge.The waters temperature starts at 85 degrees and she cools it 3.5 degrees every minute for 12 minutes.Create a number sentence to model this scenario.
The answer is animals, space, rocks, oceans and plants, what is the question?
What is the smallest angle of rotational symmetry that maps a regular pentagon onto itself?
Enter your answer in the box.
___°
Answer:
72º
Step-by-step explanation:
In order to calculate this you have to remember that the center angle of any polygon measures 360º, so what we do is just divide those 360 by the number of angles that you will find in the polygon, the number of angles equals the number of sides, so the pentagon has 5 sides, it will also have 5 angles. So we just divide the 360/5=72
So the smallest angle of rotational symmetry that maps a regular pentagon onto itself will be 72º
There are 62 rows of 9 chairs about how many chairs are there???
There are 558 chairs in total.
Explanation:To find the total number of chairs, you need to multiply the number of rows by the number of chairs in each row. In this case, there are 62 rows and 9 chairs in each row. So, the total number of chairs would be 62 x 9 = 558.
Shelly sells 5 bone shaped treats for $3.50 how much should she charge to a pack of 12 treats which proportion is needed to solve the problem
Answer
5/3.5and 12/x or d
the ratio to strawberry to banana batter is 2:3. We need 30 cups of batter total. How much banana batter do we need to make?
What is $1000 for 6 years at 1.4% compounded semiannually?
evaluate -5g- 6 for g = -2
Avery collect cans for recycling when he has 1,000 cans the recycling Center will pick them up from the house Avery has 80 bags with about 40 cans in each bag should he call the recycling center to arrange to pick up explain how you know
Please solve-y(2+4y)
the sum of two numbers is 7/8. One addend is 3/4. what is the other? A. 4/4 B. 1/8 C. 1/4 D. 2/8
Answer:
Step-by-step explanation:
Let the other be [tex] = x[/tex]
As the sum of the number is given as [tex] \frac {7}{8}[/tex]
And one number is [tex] \frac{3}{4}[/tex]
According to question
[tex] \frac{3}{4} +x = \frac{7}{8}[/tex]
Subtracting [tex] \frac{3}{4}[/tex] from both sides we get
[tex] \frac{3}{4} +x - \frac{3}{4} = \frac{7}{8} - \frac{3}{4}[/tex]
Taking LCM of 4 and 8 we get 8
And making
[tex] \frac{3}{4} [/tex] and [tex]\frac{7}{8}[/tex] like fraction by making denominator same.
Multiply [tex] \frac{3}{4} [/tex] by 2 in numerator and denominator and multiply [tex]\frac {7}{8}[/tex] by 1 in numerator and denominator we get
[tex]x= \frac{7}{8} - \frac{6}{8}[/tex]
[tex]x= \frac{7-6}{8}[/tex]
[tex]x =\frac{1}{8}[/tex]
Hence, the other number is [tex]\frac{1}{8}[/tex]
The volume of
100
drops of a liquid is
0.1
fluid ounce.
What is the volume of
10,000
drops?
Write a number in which the value of the 9 is 1/100 the value of the 9 in the number 392,065.018
Which expression makes the equation true? X^8 = ( )^2
If two of the cations have similar rf values how will you be aple to determine the difference
Sherri spent 4 hours exercising last week. If 5/6 of the time was spent jogging, how much time did she spend jogging?
When performing today's experiment, your lab partner decides to add all the reagents into one beaker instead of two separate beakers. after adding everything together and waiting a significant amount of time, you see no reaction occur. what was the problem?
The problem can be an incorrect sequence of reagents added, requirement of heat or proportion of relative reactants when all the reagents simultaneously added into the beaker.
Further explanation:
The reaction sometimes occurs in a series of elementary reaction which can be described in the reaction mechanism of that particular reaction. So when we added the incorrect sequence of reagents then the reaction may not happen as the way we want.
Some factors which can affect the reaction are as follows:
1. The ratio amount of given reagent may not be correct.
2. Some of the reactions have very slow rate of reactions and thus they required heat to increase the rate of reaction.
3. Sometimes the reagent which is important for the first step can undergo a side reaction with the reagent which should not be there otherwise.
4. That mechanism of reaction may be required light since chemoluminescence reactions depend on excitation of atoms.
5. Sometimes reactants should be mix in dark which can lose their activity in the light.
Learn more:
1. Determine the type of extinguisher should be available in the lab for pyrophoric: https://brainly.com/question/2159506
2. Calculation of volume of gas: https://brainly.com/question/3636135
Answer details:
Grade: Senior School
Subject: Chemistry
Chapter: Keys to study chemistry
Keywords: Performing experiment, lab partner, add all the reagents into one beaker, two separate beakers, and no reaction occur.
what is -(-2)??????