Question
100%

Please help with questions 3

Arizona
is
113F.
WhAL
summer day in Phoenix,
Celsus? Show all work, and write your answer in a complete sentence
, You decide to invest $7000 into an account that pays 5% simple int
erest each year. How long
will it take for the investment to double in value? The formula for simple interest is A-P+
Prt, where A is the accrued value of the investment after / years, r is the interest rate (expressed
as a decimal), and P is the starting principal invested. Show all steps, and write your answer
in a complete sentence.
23
expand button
Transcribed Image Text:Arizona is 113F. WhAL summer day in Phoenix, Celsus? Show all work, and write your answer in a complete sentence , You decide to invest $7000 into an account that pays 5% simple int erest each year. How long will it take for the investment to double in value? The formula for simple interest is A-P+ Prt, where A is the accrued value of the investment after / years, r is the interest rate (expressed as a decimal), and P is the starting principal invested. Show all steps, and write your answer in a complete sentence. 23
Expert Solution
Check Mark
Blurred answer
Students who’ve seen this question also like:
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN: 9780079039897
Author: Carter
Publisher: McGraw Hill
Not helpful? See similar books
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
marketing sidebar icon
Your question is solved by a Subject Matter Expert
marketing sidebar icon
Want to see this answer and more?
Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*
*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Get 24/7 homework help!
8+ million solutions
Get access to millions of step-by-step textbook and homework solutions
Support from experts
Send experts your homework questions or start a chat with a tutor
Essay support
Check for plagiarism and create citations in seconds
Solve math equations
Get instant explanations to difficult math equations
Students love us.
Students love us.

Related Algebra Q&A

Find answers to questions asked by students like you.

Q: At 22 years old, you have saved $5,000 that you wish to invest into a retirement account. You expect…

A: Click to see the answer

Q: During 1, Alice White purchased 300 shares of common stock issued by Logan Development Corporation…

A: Click to see the answer

Q: Last year, Laura opened an investment account with S7600. At the end of the year, the amount in the…

A: Laura invest an amount $7600. His amount increased by 26% at end of year (a)Year end…

Q: You deposit $1540 in a savings account paying 3.3% simple interest. How much interest will you earn…

A: It  is given that deposit amount is 1540  dollars and the rate of interest is 3.3%. To find : the…

Q: You are tired at the end of the school year and decided to borrow $500 to go on a trip to Florida.…

A: Click to see the answer

Q: Tuition of $1830 will be due when the spring term begins in 6 months. What amount should a student…

A: Click to see the answer

Q: Jenny borrowed a total of $18.000 from two different banks to start a business. One bank charged the…

A: Given,Jenny borrowed a total of $18.000 from two different banks to start a business. One bank…

Q: £250 is invested in a savings account. The nominal rate of interest convertible monthly for the…

A: From the above data,  Principle P=£250 rate of interest is varying with number of months.  For the…

Q: Gerald invested 150,000 at 35% for 2 1/2 years. a. How much interest will he earn? Prove your…

A: We will use the formula SI = PRT100 Here P = 150000R = 35T = 52

Q: 04. Ricardo bought a motorcycle for $15000. The value depreciates 15% at the start of every year.…

A: Given that  Cost of a motorcycle is $15000 Percentage of depreciation at the start of every year…

Q: Saad invests S8000 with the bank The interesest rate is 7,5% per annum compounded annually. The bank…

A: Here, V0=8000, Vn=11485.03 and r=7.5% Subsitute the value of V0, Vn and r in Vn=V01+r100n.…

Q: Intro You have $5,000 in your savings account, and want to buy a car for $20,000. Part 1 If you are…

A: Click to see the answer

Q: Suppose you want to have $500,000 for retirement in 25 years. Your account earns 9%6 interest. a)…

A: This question is related to interest.

Q: 5. You deposited P65 200 in the bank that earns P15 850 at the end of 5 years, at what interest rate…

A: Click to see the answer

Q: Last year, Lamar opened an investment account with $5400. At the end of the year, the amount in the…

A: •Year-end amount = Original amount + Increase…

Q: . Peter's grandparents give him $500 for his 14 Ccount that earns 5.25% simple interest. How much…

A: Click to see the answer

Q: Coral invested $500 in an account that earns simple interest at the rate of 5.5% each year. Assuming…

A: Click to see the answer

Q: Last year, Laura opened an investment account with $7600. At the end of the year, the amount in the…

A: Click to see the answer

Q: Marcus deposits $4,000 in his savings account which earns 4.5% simple interest. After two years, how…

A: Simple interest problem

Q: Suppose you want to have $800,000 for retirement in 25 years. Your account earns a 5% interest. How…

A: Click to see the answer

Q: Sarah spent $500 on a credit card last month. She went online to her account and paid $250 towards…

A: Sarah spends $500 from her credit card last month. So the balance in the credit card now is -500

Q: 2. Ken borrowed $2000 from Sam at 8% per annum. After 6 years he cleared the amount by giving $2600…

A: As per our guidelines, we are supposed to solve only first question. Kindly repost other question as…

Q: Find the total amount in an account to the nearest cent after 3 years if the interest is compunded…

A: P=$2800 r=6.25% r=6.25/100=0.0625 t=3 compounded annually,   n=1

Q: Joseph Abruzzio decides to divide a gift of $6000 into two different accounts. He deposits $2000 in…

A: Consider the given informationTotal amount =6000$Deposit amount in IRA = 2000$ with interest rate of…

Q: Judah is going to deposit $5000.00 in and account that earns 4% interest for 20 years. How much more…

A: Click to see the answer

Q: simple

A: Click to see the answer

Q: Your colleague promises to pay you interest of 1.5%. You start by giving your colleague $400 to…

A: Rate of interest , R = 1.5 % Time, T = 1 Year Principal amount , P = 400$ Interest , I = P×R×T / 100…

Q: Hand written plz A 39 year old person has $1,000,000. With this money as a single net premium, he…

A: Click to see the answer

Q: Marc earns a yearly bonus of 1.6% of all sales he makes during the year in excess of $82,000.…

A: Question is solved.

Q: 5. Arthur invests his inheritance of $24,000 in two different accounts which pay 6% and 5% annual…

A: We will find the investment.

Q: We invest $5500 in an account that pays simple interest of 3% each year. How much interest is earned…

A: Formula: The formula that represents the simple interest is: I=PRT100 I is the interest. P is the…

Q: Tuition of $1616 wi be due when the spring term begins in 2 months. What amount should a student…

A: Given that tuition of $1616 will be due when the spring term begins in 2 months. To find, the amount…

Q: A total of $26,000 is invested in two corporate bonds that pay 3.5% and 5% simple interest. The…

A: Click to see the answer

Q: Suppose you want to have $300,000 for retirement in 35 years. Your account earns 7% interest. a) How…

A: A) calculating monthly deposit,  Using TVM calculation PMT=[PV=0, FV=300,000, N=420, I= 0.07/12]…

Q: You take qut a 2-year, $5,000 loan at 7% simple annual interest. The lender charges you a $300 fee.…

A: Click to see the answer

Q: Ramon won 30, 000 in a mathematics quiz bee. He deposited it in the bank, which gave 2% interest…

A: Roman won $30,000 in a mathematics quiz bee. He deposited it in the bank, which gave 2% interest…

Q: Use the formula for simple interest, I = Prt, to find the indicated quantity. 1 = $150; P = $5000; r…

A: Click to see the answer

Q: th Student - CentennialMS Three bananas cost $0.99. At this rate, how much do FIVE bananas cost?…

A: Given cost of three bananas is $0.99.

Q: Josh makes $1500, 7% simple interest personal loan to his friend Sean for a period of 9 years. When…

A: We have, Josh makes $1500, 7% simple interest personal loan to his friend Sean for a period of 9…

Q: Last year, David opened an investment account with $8400. At the end of the year, the amount in the…

A: Given data set: David opened an investment account with $8400  At the end of the year, the amount…

Q: Jeremy has $2300 to invest for 6 years. a) Which is the better investment? Justify you Investment A:…

A: Click to see the answer

Q: We invest $5500 in an account that pays simple interest of 4% each year. How much interest is earned…

A: Click to see the answer

Q: Suppose you want to have $700000 retirement in 20 years. Your account earns 10% interest. A) How…

A: Click to see the answer

Q: Q6 A man gets a job with a salary of $33,000 a year . He is promised a $2,350 raise each subsequent…

A: Click to see the answer

Q: 10. ALGEBRA Mary Rose pays her auto insurance premiums quarterly. Her annual premium last year was…

A: Click to see the answer

Q: 5. Kelsey invested $3500 at 8.6% simple interest for 188 days. How much does Kelsey have now after…

A: Click to see the answer

Q: 03. Kelley opens a bank account to save for a down payment on a car. Her initial deposit is $250,…

A: Since, it is given that Kelley initial deposit is $250 and she plans to deposit 10% more each month,…

Q: A friend loaned some money. The debtor is scheduled to pay him $579 in 3 months. The friend needs…

A: Click to see the answer

Q: Tuition of $1260 will be due when the spring term begins in 9 months. What amount should a student…

A: $1260 tuition fee will be due when the spring term begins in 9 months

Q: served after 5 years? 3. Ricardo bought a brand-new car worth P350,000. Its value depreciates 15%…

A: As per bartleby guidelines we only give first question answers.

Knowledge Booster
Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, algebra and related others by exploring similar questions and additional content below.
Recommended textbooks for you
  • Glencoe Algebra 1, Student Edition, 9780079039897...
    Algebra
    ISBN:9780079039897
    Author:Carter
    Publisher:McGraw Hill
    College Algebra
    Algebra
    ISBN:9781305115545
    Author:James Stewart, Lothar Redlin, Saleem Watson
    Publisher:Cengage Learning
    Algebra and Trigonometry (MindTap Course List)
    Algebra
    ISBN:9781305071742
    Author:James Stewart, Lothar Redlin, Saleem Watson
    Publisher:Cengage Learning
  • Holt Mcdougal Larson Pre-algebra: Student Edition...
    Algebra
    ISBN:9780547587776
    Author:HOLT MCDOUGAL
    Publisher:HOLT MCDOUGAL
    College Algebra (MindTap Course List)
    Algebra
    ISBN:9781305652231
    Author:R. David Gustafson, Jeff Hughes
    Publisher:Cengage Learning
    Algebra & Trigonometry with Analytic Geometry
    Algebra
    ISBN:9781133382119
    Author:Swokowski
    Publisher:Cengage
  • Glencoe Algebra 1, Student Edition, 9780079039897...
    Algebra
    ISBN:9780079039897
    Author:Carter
    Publisher:McGraw Hill
    College Algebra
    Algebra
    ISBN:9781305115545
    Author:James Stewart, Lothar Redlin, Saleem Watson
    Publisher:Cengage Learning
    Algebra and Trigonometry (MindTap Course List)
    Algebra
    ISBN:9781305071742
    Author:James Stewart, Lothar Redlin, Saleem Watson
    Publisher:Cengage Learning
    Holt Mcdougal Larson Pre-algebra: Student Edition...
    Algebra
    ISBN:9780547587776
    Author:HOLT MCDOUGAL
    Publisher:HOLT MCDOUGAL
    College Algebra (MindTap Course List)
    Algebra
    ISBN:9781305652231
    Author:R. David Gustafson, Jeff Hughes
    Publisher:Cengage Learning
    Algebra & Trigonometry with Analytic Geometry
    Algebra
    ISBN:9781133382119
    Author:Swokowski
    Publisher:Cengage