Suppose an annuity pays 7.0% annual interest, compounded annually. If you invest $3,000 every year for 5 years, what percentage of the balance in the account is interest earned?
Round your answer to the nearest hundredth of a percent.

Answers

Answer 1

Answer:

  13.05%

Step-by-step explanation:

The value of an ordinary annuity earning interest compounded annually is ...

  A = P((1 +r)^n -1)/r . . . . . interest rate r for n years on principal payments P

For this account, the balance after 5 years will be ...

  A = 3000((1 +.07)^5 -1)/0.07 = 3000·5.750739

The sum of payments is ...

  payment total = 3000·5

Then the amount of interest is ...

  3000·(5.750739 -5) = 3000·0.750739

and the fraction that is of the account balance is ...

  (3000·0.750739)/(3000·5.750739) × 100% ≈ 13.05%

About 13.05% of the balance is interest earned.


Related Questions

Can someone tell me what’s going on here

Answers

Answer:

c = 105 degres

Step-by-step explanation:

When two lines cross like that and form an x, the opposite sides are equal (so the angle below the 75 degree one is also 75 degees). Using this, you can figure out the rest.

If both the top an bottom are equal, you know that 150 degres are taken (75+75) and you know that there can only be 360 degres in total here, so you subtract 150 from 360 and get 210. Now you know that the last two sides together are 210, and since they are equal, you divide it by two to get 105 degrees.

Cassidy places 40 stamps on each of 8 albums pages how many stamps dose she place

Answers

Answer:

Cassidy places 5 steps on each album page.

Cassidy places 320 stamps in total.

Step-by-step explanation:

40÷8=5 stamps on each album page

40×8=320 stamps in total

Jill had some candy to give to her five
children. She first took seven pieces for
herself and then evenly divided the rest
among her children. Each child received
five pieces. With how many pieces did
she start?

Answers

She started with 32 pieces.

Explanation: If she had 5 children and each child received 5 pieces, you can determine that she gave her children a total of 25 pieces because 5 x 5 = 25. If she took 7 pieces for herself before giving the rest away, you can determine that she had 32 pieces of candy to start with because 25 + 7 = 32.

What is 6 3/4 percent of 800

Answers

Answer:

54

Step-by-step explanation:

6 3/4 = 6*4 + 3 / 4

= 27/4

=> 27/4  /100 * 800

=> 27/400 * 800

=> 27 * 2

=> 54

Look at attached photo. Will give brainiest to correct answer. Trigonometry.

Answers

Answer:

Step-by-step explanation:

Forty six minus twenty​

Answers

Answer:

26 po hahahahahahahahahahaha

Please help please help please help please help

Answers

Answer:

2  ,   3

Step-by-step explanation:

68% of US adults have very little confidence in newspapers you randomly select 10 US adults find the probability that the number of US adults who have very little confidence in newspapers is (a) exactly five, (b) at least six, (c) less than four.

Answers

Answer:

A) 12.29%

B) 81.33%

C) 1.55%

Step-by-step explanation:

This is a binomial model, and I assume you're meant to use a calculator to solve.

A)

This is what I have in my notes for the binompdf function:

binompdf(n, p, x) - find the probability of exactly x successes in n trials given p probability

That is exactly what we want in this case, we're looking for exactly 5 people who meet the conditions (successes) given n trials and p probability.

Using a calculator:

binompdf(10, 0.68, 5) ≈ 0.1229

That means you have about a 12.29% chance to randomly select exactly 5 adults who have little confidence in newspapers.

B)

For this one, use the binomcdf function:

binomcdf(n, p, x) - find the probability of x or fewer successes in n trials given p probability

In this case, we're looking for more, not less. However, you can think of the probability of getting more than 6 as just the probability of not getting less than 6.

With a calculator:

binomcdf(10, 0.68, 5) ≈ 0.1867

That means you have about an 18.67% chance to randomly select 5 or less people. We're looking for more though. As said above, the probability of getting 6 or more is just the probability of not getting 5 or less. To find the probability of something not happening, just subtract the probability from 1.

1 - 0.1867 = 0.8133

An 81.33% chance to randomly select at least 6 adults who have little confidence in newspapers.

C)

Same as the above, I don't see a need to explain it all again. Use binomcdf:

binomcdf(10, 0.68, 3) = 0.0155

Notice I used 3 rather than 4. binomcdf calculates x or fewer, or 'rather less than or equal to'. We want just 'less than 4', and that means 'less than or equal to 3'.

That's a 1.55% chance to select less than 4 adults with little confidence in newspapers.

I need help with number 9 please

Answers

Answer:

29.85

Step-by-step explanation:

1 month = 9.95

2 months = 19.9

3 months= 29.85

It shows the progression through three months and how much it was starting off from one month.

Answer: $29.85

per day it charges $9.95

she has the subscription for three months

we will then multiply the amount charged per month

$9.95 x 3 = $29.85

I hope this helps! :)

How do you evaluate (-12)3

Answers

Step-by-step explanation:

-1728 y'all i do by using calculator and it is correct

Answer:

its -1728

Step-by-step explanation:

i worked it out right.

Which fractions are equivalent to 1012?

Select each correct answer.




​23​

​56​

​1224​

​3036​

​5060​

​6084

Answers

Answer:

5/6, 30/36, 50/60

Step-by-step explanation:

10/12 divided by 2= 5/6

10/12•3= 30/36

10/12•5= 50/60

p l s… h e l p… m e…

Match the unknown entries in the two matrices with their correct values

Answers

Answers:

v = 54y = 0u = 6w = -48x = -1

===================================================

Explanation:

The left hand side is

[tex]-6\begin{bmatrix}3 & -1 & 3\\8 & x & -9\\4 & -1 & y\end{bmatrix}[/tex]

That -6 outside the matrix is multiplied with each item inside the matrix. This is known as scalar matrix multiplication. Effectively, it's very similar to the idea of the distributive property.

So for the first row, we have the three columns of: -6*3 = -18 and -6*(-1) = 6 and -6*3 = -18

The other two rows are handled the same way. This is what should result:

[tex]-6\begin{bmatrix}3 & -1 & 3\\8 & x & -9\\4 & -1 & y\end{bmatrix}= \begin{bmatrix}-18 & 6 & -18\\-48 & -6x & 54\\-24 & 6 & -6y\end{bmatrix}[/tex]

From here, you'll then match up the terms in the given right hand side matrix. The top row has the variable 'u' in the middle, which matches with the '6' in the middle of the top row shown. Therefore, u = 6.

-----------------------------

Now to the second row.

The -48 in the first spot pairs up with the w in the other matrix. So we can see that w = -48. Similarly, we have v = 54.

Also, we have -6x in the middle which matches with the 6 in the same corresponding spot. Solving -6x = 6 leads to x = -1.

-----------------------------

Finally, the third row.

There's only one variable here and that's the variable y in the bottom right corner. It pairs up with 0 in the same corresponding spot for the right hand side matrix. Therefore, y = 0.

Simplify this equation

Answers

Answer:

I think the answer might be 12x⁷

PLEASE HELP ME WILL MARK BRAINLIEST AND PLZ EXPLAIN

Answers

Okay we have to begin by using the formula.
Y= a (x-h)^2 + k
Now we have to identify the vertex which is (-4,-3). Now substitute the vertex for (h,k). So now we have.
Y= a( x-(-4)^2 + (-3)
This gives us
Y = a(x+4)^2 -3
Now we have to pick a point from the graph to substitute for the x and y values. This can be any point expect for the vertex. I have chosen (-3,-1). Now let’s substitute:
-1= a(-3+4)^2-3
Now we have to solve for a:
-1=a(1)^2 -3
-1= a-3
-1+3=a
a= 2
Now that we know the value of a we can write the equation down:
Y= 2(x+4)^2 + 3

What would you do if you found out that you wrote a cheque of $78 but it was recorded as $98 in check register?

Answers

Answer:

I will cryy because I only want to write 78 why it recorded as 98

Write an equation of a line with an x-coefficient of - 3 and a y-intercept of 7

Answers

Answer:

y = -3x + 7

Step-by-step explanation:

For an equation in the format y = ax + b, a is the coefficient of x, and b is the y intercept.

Simplify -3(xy + 2y) + 5y - x.​

Answers

Answer:

Step-by-step explanation:

-3 (xy+2y)+5y-x

-3xy-6y+5y-x

-3xy-y-x

Due Tomorrow: answer question 1 with steps

Answers

Answer:

the 1 st qn that is no2 c is just down right corner am I right

Step-by-step explanation:

plzzz make me ans as the brainliest ans

Help !!!!!!!!!!!!!!!!!!!!

Answers

Answer:

Step-by-step explanation:

One must rearrange the function to decreasing value of exponents

f(x) = -7x⁴ + 8x³ - 3x² - 9x + 11

to see that it is a 4th degree polynomial with leading coefficient of -7

do anyone know what’s the answer to this problem ?

Answers

your answer is -4
i tried to explain it best i could in the picture

If 20% of a number is 28 and 25% of the same number is 35, find 45% of that number.

Answers

answer: 63
explanation: 20% + 25% = 45% and 20%= 28
25%= 35
thus, 28 + 35 = 45% = 63

find the length of fencing required to go all the way around the rectangular field that is 136000mm wide and 425m long

Answers

the answer is 57800m^2

Help me answer 5d, thank you!

Answers

Answer:

5. is III. Since there is a vertical asymptote at x= -3 and hole at x=0

Robert has 4 times as many pennies as he does nickels. If Robert has $1.44 worth of pennies and nickels, how many nickels does he have?​

Answers

9514 1404 393

Answer:

  16 nickels

Step-by-step explanation:

Robert can group his coins into groups consisting of 1 nickel and 4 pennies. The value of each group is 9¢, so the number of groups Robert can make is ...

  $1.44/$0.09 = 16 . . . groups

Since there is 1 nickel in each group, Robert has 16 nickels.

Answer:

16

Step-by-step explanation:

What percent of 80 is 84?

Answers

Answer: 105

Step-by-step explanation: if you are using a calculator, simply enter 84÷80×100 which will give you 105 as the answer.

Only answer this if you know the answer.
Find out the gradient of both blue lines

Answers

Answer

first line=4.1,10

second=6,10

Step-by-step explanation:

Robert has 4 times as many pennies as he does nickels. If Robert has $1.44 worth of pennies and nickels, how many nickels does he have?​

Answers

He is going to have 21 nickels

evaluate -x^3 - 3x^2 + 4 when x = -2

Answers

The answer = 0

-(-2)^3 = 8

-3(-2^2)= -12

Then add 4

-12 + 4 + 8 = 0

Answer:

32

Step-by-step explanation:

x = -2

-x^3 - 3x^2 + 4

-(-2)^3+6^2+4

8+36+4=48

Hope this helps :)

Which statement is true?

Answers

The answer is a
Hope this helped!!

b) Complete the table to show the total amount of calories Mary will burn for
cycling and running for 0, 10, 15, and 30 minutes. Show and explain your work.
Minutes (m)
Total Calories Burned (C)
0
10

Answers

For 0 minutes she can burn 0 calories

For 10 minutes she can burn 20-40 calories

For 15 mins she can burn 40-60 calories

For 30 minutes she can burn 140-295 calories

I hoped this helped!

Have a great day/night! :)

Other Questions
What is the frequency of radiation whose wavelength is 2.4010 what is the velocity of this graph between points a and b? 0.0m/s 2.5m/s 5.0m/s 6.0m/s? Currently,___________ is rising, partly because of melting glaciers Group of answer choices Temperature Precipitation Sea level The amount of sea ice 12. In paragraph 40, which of the following best represents the author's purpose fordescribing Yvette from Jack's point of view? what are the 5 forms of precipitation The length of the base of an isosceles triangle is x. The length of a leg is 2x-6. The perimeter of the triangle is 38. Find X Amy convenes a meeting to rethink the organizational structure to avoid being beat to the market by a competitor again. Based on your initial impressions of the situation, which solution do you think might be more effective: increase formalization or reduce hierarchy 6. Which of the following sentences from the reading best expresses thecentral point of the selection?A. "Dr. Rosenthal is a pioneer in the study of how people sendand receive non-verbal messages...called 'body language."B. "Every would-be Romeo or Juliet knows that the languageof courtship goes far beyond words."C. "Researchers trace various kinds of body language back toour roots in the animal world."D. "Because nonverbal communication, based in our animalroots and childhoods, is universal, it is useful to become moreaware of it." FedEx will ship the Olympic medals from the producer to Japan. Each medal weighs 0.5 kilograms. A box carries 6 medals. If FedEx charges $28 per every 10 kilograms, how much will cost to ship 30 medals ?A. $280B. $168C. $42 You accelerate from 5m/s to 60m/s in 11 seconds what is the average acceleration. how does technology affect you daily living? give situations where you use technology and how it help you rail fares go up by 10%, and josies new season ticket to london costs 1342. calculate how much more she has to pay now than she did before the 10% increase was added whats the difference between purified and distilled water How was the federal government structured under the Articles of Confederation! his Only a Legislative Branch with each state having one vote A weak Congress with a strong Executive Branch Three branches of government A two house Legislative Branch with no Executive or Judicial Branch An oddly-shaped water bottle holds 30.5 L of water. If the water bottle is 2/3 full, how many L are in the waterbottle? in these excerpts, how is cugoanos approach similar to sanchos approach? please help me the last question is wrong 4. Where is it from? Your answer i need some help with simple algebra! using pemdas :p Find the y-intercept of the following equation. Simplify your answer.y = 9x - 3/7y-intercept