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1 year ago

8

Mr. Hollins determines that he gives away $800 each month. If he gives away 16% of his budget, then how much is his overall budg

et

1 answer:

Fynjy0 [20]1 year ago

6 0

Answer:

5000 dollars

Step-by-step explanation:

Let his budget be x

16% of x is 800 dollars

.16 * x = 800

Divide each side by .16

.16x/.16 = 800/.16

x=5000

His budget is 5000 dollars

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Answer:

The future value of this initial investment after the six year period is $2611.6552

Step-by-step explanation:

Consider the provided information.

A student desired to invest $1,540 into an investment at 9% compounded semiannually for 6 years.

Future value of an investment: $FV=P(1+r)^n$

Where Fv is the future value, p is the present value, r is the rate and n is the number of compounding periods.

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Therefore, the value of r is: $r=\frac{0.09}{2}=0.045$

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Hence, the future value of this initial investment after the six year period is $2611.6552

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