Question 1024729: Please help me with these problems. Thanks and show all work
1. A bank features a savings account that has an annual percentage rate of r=4.7
% with interest compounded quarterly. Zach deposits $3,500 into the account.
The account balance can be modeled by the exponential formula S(t)=P(1+rn)nt
, where S is the future value, P is the present value,r is the annual percentage rate, n is the number of times each year that the interest is compounded, and t is the time in years.
(A) What values should be used for P, r, and n?P=, r=, n=
(B) How much money will Zach have in the account in 8 years?
Answer = $ . Round answer to the nearest penny
2.If 15700 dollars is invested at an interest rate of 8 percent per year, find the value of the investment at the end of 5 years for the following compounding methods.
(a) Annual:
Your answer is
(b) Semiannual:
Your answer is
(c) Monthly:
Your answer is
(d) Daily:
Your answer is
3. An unknown radioactive element decays into non-radioactive substances. In 420 days the radioactivity of a sample decreases by 26 percent.
(a) What is the half-life of the element?
half-life: (days)
(b) How long will it take for a sample of 100 mg to decay to 75 mg?
time needed
Answer by solver91311(24713)   (Show Source):
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