Meg invested $16,000 in a savings account. If the annual interest rate is 6%, how much will be in the account in 5 years for quarterly compounding? Round your answer to two decimal places. CORRECT ANSWER IS: 21549.68

In 5 years the account will be $ 21,549.68.

Step-by-step explanation:

Given that Meg invested $ 16,000 in a savings account, if the annual interest rate is 6%, to determine how much will be in the account in 5 years for quarterly compounding, the following calculation must be performed:

16,000 x (1 + 0.06 / 4) ^ 5x4 = X

16,000 x 1,015 ^ 20 = X

16,000 x 1.34685500 = X

21,549.68 = X

Therefore, in 5 years the account will be $ 21,549.68.

answer: the price of one pound cabbage = $ 0.8

the point (10,8) represents that the cost of 10 pounds cabbage is $ 8

step-by-step explanation:

since, here is a proportional relation between the number of pounds of cabbage (x) and the price in dollars (y).

therefore, we can write,

⇒ y = k x

where k is the constant of proportionality.

now, point (5,4) is in the line.

thus, it will satisfies the above equation of line.

⇒ 4 = 5 k

⇒ k = 0.8

thus, the equation of the line is,

y = 0.8 x

a) for x = 1,

y = 0.8

therefore, the cost of one pound of cabbage is 0.8 dollars.

b) in the below graph (10,8) represents that the cost of 10 pounds of cabbage is 8 dollars.

step-by-step explanation:

compare