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A bank offers a 4% annual interest rate for a savings account. Nathan puts $3,800 into an account to save for college. How much will be in the account after a year?

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# Tag: savings

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Which of the following would be a good reason to place your money into a savings account? a. You can purchase stocks with a savings account b. A savings account earns interest c. You can write checks with a savings account d. You can use a debit card to make transactions

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### Answered by answersmine AT 22/10/2019 – 03:50 AM

S=60w+ 350. Because you get $60 times the amount of weeks,plus the first $350 she started with. She ends up with $1070 dollars because $60 x 12= 720, then you add the first $350 and get $1070. Hope this helped.

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If you put $1,500 in a savings account that pays 4% interest compounded continuously, how much money will you have in your account in 5 years? Assume you make no additional deposits or withdrawals. A. $3,286.68 B. $1,832.10 C. $1,824.98 D. $9,160.52

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Andrew deposited $500 in a savings account that offers an interest rate of 6.5%, compounded continuously. Andrew’s initial deposit will grow to $543 in ___ months.

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Depreciation=(16,950−4,200)÷6

=2,125 per year

Book value after 3 years

=16,950−2,125×3

=10,575

Now find the amount of depreciation to be charged against the equipment during each of the remaining years of its useful life

Depreciation=(equipment cost-salvage value)/useful life

Depreciation=(10,575−1,695)÷3

=2,960

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**Answer:**

Option C – BD=76 cm

**Step-by-step explanation:**

**Given :** You are designing a diamond-shaped kite. you know that AD = 44.8 cm, DC = 72 cm, and AC = 84.8 cm.

**To find : **How long BD should it be?

**Solution : **

First we draw a rough diagram.

The given sides were AD = 44.8 cm, DC = 72 cm and AC = 84.8 cm.

According to properties of kite

**Two disjoint pairs of consecutive sides are congruent.**

**So,** AD=AB=44.8 cm

DC=BC=72 cm

**The diagonals are perpendicular.**

**S**o, AC ⊥ BD

Let O be the point where diagonal intersect let let the partition be x and y.

AC= AO+OC

AC= …….[1]

Perpendicular bisect the diagonal BD into equal parts let it be z.

BD=BO+OD

BD=z+z

**Applying Pythagorean theorem in ΔAOD**

where H=AD=44.8 ,P= AO=x , B=OD=z

………[2]

**Applying Pythagorean theorem in ΔCOD**

where H=DC=72 ,P= OC=y , B=OD=z

…………[3]

**Subtract [2] and [3]**

……….[4]

**Add equation [1] and [4], to get values of x and y**

**Substitute x in [1]**

**Substitute value of x in equation [2], to get z**

**We know, **BD=z+z

BD= 38.06+38.06

BD= 76.12

**Nearest to whole number **BD=76 cm

**Therefore, Option c – BD=76 cm is correct.**

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The Contribution Margin per unit (CM) can be calculated

from the difference of Selling Price per unit (SP) and Total Expenses per unit

(TE).

First, let’s calculate the value of SP:

SP = Sales / Units sold

SP = $1,043,400 / 22,200 units sold

SP = $47

Second, calculate all expenses:

Direct materials per unit = $234,948 / 27,970 units

manufactured = $8.4

Direct labor per unit = $131,459 / 27,970 units

manufactured = $4.7

Variable manufacturing overhead per unit = $240,542 / 27,970

units manufactured = $8.6

Variable selling expenses per unit = $113,220 / 22,200

units sold = $5.1

TE = $26.8

Therefore the CM is:

CM = SP – TE

CM = $47 – $26.8

**CM = $20.2 per unit**

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Here are the following effects of loose money and tight

money policies on the actions being listed.

A. A loose money policy

is usually implemented as an effort to encourage economic growth.

This can lead to inflation when uncontrolled. The effects are:

1. Borrowing becomes easy

2. Consumer buys more

3. Since more people are willing to buy,

businesses expand

4. Employment rate increases due to

expansion of businesses

5. Since more people are employed, thus

production also increases

B. A tight money policy is a course of action to restrict spending

in an economy that is growing too quickly or to hold back inflation when it is

rising too fast. This can lead to recession when uncontrolled. The

effects are:

1. Borrowing becomes difficult

2. Consumer buys less

3. Since people don’t have a lot of

money, business don’t expand

4. Unemployment rate increases due to businesses

slowing down

5. Production decreases

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How should students pay for monthly expenses? A. By credit card B. By debit card C. By taking out cash-advance loans D. By taking money out of their savings

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**Answer: The correct option is (C). 10 = square root of the quantity of x minus 8 all squared plus y minus 9 all squared **

**Step-by-step explanation: **Given that the segment AB has point A located at (8, 9). The distance from A to B is 10 units.

We are to **select the correct option that could be used to calculate the coordinates for point B.**

**Let, (x, y) be the co-ordinates of point B.**

**According to distance formula, the distance between two points (a, b) and (c, d) is given by**

**Therefore, the distance between the points A(8, 9) and B(x, y) is given by**

**Since, distance between A and B is 10 units, so**

**d = 10.**

**Therefore,**

**Thus, the correct statement is**

** 10 = square root of the quantity of x minus 8 all squared plus y minus 9 all squared.**

**Option (C) is correct. **

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After all of your expenses are subtracted from your income, the money left over is known as your savings.

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The statement is equivalent to

120=0 (mod n), meaning that n divides 120.

All divisors of 120 will satisfy the statement because 120 divided by a divisor (factor) will leave a remainder of 0.

Factors of 120 are:

n={1,2,3,4,5,6,8,10,12,15,20,24,30,40,60,120}, |n|=16.

You can count how many such values of n there are, and try to check that each one satisfies 127=7 mod n.

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Harry Hoodeen made $24,567.00 net pay last year. His monthly expenses averaged $1,980.00. How much was left over for savings for the year?

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Ben owns a townhome valued at $ 195,000, but still owes $120,000 on the loan. Ben has $5,000 in savings and balance of $1,400 on his credit cards. There is a balance of $20,000 owed on Ben’s car which is valued at $ 38,000. What is ben’s net worth?

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If Jackson is paid an interest rate of 10 percent on his savings, but the inflation rate has risen to 20 percent, the purchasing power of his savings is _____.

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Stephen deposited $1800 into a savings account for which interest is compounded weekly at a rate of 3.2%. How much interest will he earn after 10 years? A. $58.51 B. $678.59 C. $2478.59 D. $7679.48

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**Answer:**

Her current balance is $17,574.21

**Step-by-step explanation:**

**Given : **

Barbie,s passbook savings account started out with $12000 as last month’s balance.

She has made two deposits of $25.67 and $5133.54

She made a withdrawal of $145.00.

Interest of Amount $560 is added to account.

**To Find **: Current Balance

**Solution : **

**Barbie’s account balance was $12000 **

She has made two deposits of $25.67 and $5133.54

**So, after the addition of amount of these two deposits . **

**The new balance = $12000 +$25.67 + $5133.54 = $17,159.21**

Now, She made a **withdrawal of $145.00.**

So, **new balance after the deduction of withdrawal amount = $17,159.21-$145.00. = $17,014.21.**

Now, **interest of Amount $560 is added to account.**

So, after the addition of amount of interest New balance is

= **$17,014.21 +$560= $17,574.21 **

**Hence ,The current balance is $17,574.21 **

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**Answer: b. savings and loans **

**Explanation: **

**Savings and loans financial institutions **are known to be financial institutions which permit account holders to deposit and save money in their account. Furthermore, the financial institutions in turn pay interest into the account. They are also known as savings bank or thrifts. Thus, they provide loan to individuals in order to buy a house.

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When an insurance company needs to provide a payout, the money is removed from** “a pool of funds”.**

Pooled funds are assets from numerous individual financial specialists that are amassed for the reasons for speculation, as on account of a shared or annuity support. Investors in pooled fund ventures profit by economies of scale, which take into account bring down exchanging costs per dollar of venture, expansion and expert cash the executives. Alongside the additional costs engaged with the type of the executives charges, the fundamental detractor of pooled fund investments is that capital increases are spread equally among all investors, now and then to the expense of new investors.

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**Answer:**

**Step-by-step explanation:**

Given that the quiz scores for two different groups of math students are given below.

Group A =93, 90, 71, 77, 85, 75, 77, 85, 87, 90

Count =10: Mean = 83: Std dev: = 7.0852

Group B = 71, 75, 85, 95, 71, 71, 90, 95, 87, 80

Count =10: Mean = 82: Std dev: = 9.230

Since std dev is lower for group A

Group A has less variability and hence more consistent.

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Area of Rectangle = 660 x 66 =43,560 ft²

And we know that 1 acre = 43,560 ft², then each rectangle has an area of 1 acre & the 20 acres will correspond to 20 x 43560 = 871,200 ft²

We know that the 20 acres form a rectangle. We need to know what is their disposition:

1) We would like to know the layout of the rectangles since we have 4 possibilities FOR THE LAYOUTS

Note that W=66 & L=666 = 43,956 ft²/ unit )

lay out shape could be either:(in ft)

1 W by 20 L (Final shape Linear 66 x 13320 = 879,120) or

2 W by 10 L (Final shape Stacked 132 x 6660 = 879,120) or

4 W by 5 L (Final shape Stacked 264 x 3330 = 879,120) or

2) We would like to know the number of participants so that to allocate equal space as well as the pedestrian lane, if possible, if not we will calculated the reserved space allocated for pedestrian/visitors)

3) Depending on the shape given we will calculate the visitor space & we will deduct it from the total space to distribute the remaining among the exhibitors.

4) (SUGGESTION) Assuming it’s linear, we will reserve

20ft x 13320 ft = = 266,400 ft² and the remaining 612,720 ft² for exhibitors

5) Depending on the kind of the exhibition, we will divide the 612,720 ft² accordingly

6) How can we select the space allocated for each exhibitor:

the 617,720 ft² could be written as a product of prime factors:

612720 = 2⁴ x 3² x 5 x 23 x 37

If you chose each space will be185 ft² , then we can accommodate up to 3,312 exhibitors.

Obviously you can choose any multiple of the prime factors to specify the area allocated & to calculate the number of exhibitors accordingly

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Carl. put $1.10 in his piggy bank every day in the month of July. His total savings was $55 at the end of June. hat is the best estimate for Carl’s savings at the end of July

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**Answer:**

**Total cost of John Stone of renting a car per month = $300**

**Step-by-step explanation:**

Fixed rate of renting a car = $49

**Total fixed rate of renting for 4 weeks = 4 × 49**

= $196

Amount paid for optional insurance per week = $14

**Total amount paid for optional insurance in 4 weeks = 4 × 14 **

= $56

Amount spent on gas each week = $12

**Total amount spent on gas in 4 weeks = 4 × 12**

= $48

**Therefore, Total cost per month = 196 + 56 + 48**

= $300

**Hence, Total cost of John Stone of renting a car per month = $300**

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