Posted by Lyn on Thursday, June 23, 2011 at 6:00pm.
I can not figure these out for the life of me. Any help is appreciated.
1. Find the final amount of an investment if $2,000 is invested at an interest rate of 8% compounded quarterly for 8 years.
I used interest formula and came up with $1,769.08.
And then:
I = .08/4 = .02
N = 8(4) = 32
Amount= 2,000(.02)^32
= 8.59 ?
And then:
2000(1+0.08/4)^4 = 2164.86
2. Find the possible values for a, if the distance between the points is 17 and the coordinates of the points are (4, a) and (4, 2)
D= √(4  (4))^2 + (2  a)^2
I used the distance formula and it came out as an imaginary number..

Algebra  Damon, Thursday, June 23, 2011 at 6:09pm
I = .08/4 = .02
N = 8(4) = 32
Amount= 2,000(.02)^32 ****NO****
Amount = 2,000(1.02)^32
= 3769.08
If you add 2% at every stage you multiply by 1.02 at every stage.

Algebra  Damon, Thursday, June 23, 2011 at 6:15pm
d^2 = 17^2 = 289
289 = 8^2 + (2a)^2
289 = 64 + 4  4a + a^2
a^2  4 a 221 = 0
(a17)(t+13) = 0
a = 17 or a = 13

Algebra  Lyn, Thursday, June 23, 2011 at 9:22pm
Thank you very much, I was beyond stumped.
Answer This Question
Related Questions
 Algebra 1  Find the final amount of an investment if $2,000 is invested at an ...
 Algebra  Need help with these 30. Suppose the area of a square is x^2  6x...
 Algebra  Greta invests $10,000 in an investment that pays 3% interest, ...
 College Algebra  Investment A: $5,000 invested for 7 years compounded ...
 algebra  determine the amount of an investment if $500 is invested at an ...
 Algebra  Determine the amount of an investment if $500 is invested at an ...
 algebra  Find the accumulated value of an investment of $10,000 for 3 years at ...
 math  An amount of $5000 is invested at an interest rate of 7% per year, ...
 Algebra  I need to determine the amount of an investment if $1000 is invested ...
 UOG  An initial investment of $12,000 is invested for 2 years in an account ...
More Related Questions