1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gekata [30.6K]
2 years ago
10

What lump sum of money must be deposited in a bank account at present time so that Php 500 monthly can be withdrawn for five yea

rs with the first withdrawal scheduled six years from today? Interest rate is 9% compounded quarterly.​
Engineering
1 answer:
jenyasd209 [6]2 years ago
3 0

Using compound interest, it is found that a sum of $16,586.26 must be deposited.

<h3>What is compound interest?</h3>

The amount of money earned, in compound interest, after t years, is given by:

A(t) = P\left(1 + \frac{r}{n}\right)^{nt}

In which:

  • A(t) is the amount of money after t years.
  • P is the principal(the initial sum of money).
  • r is the interest rate(as a decimal value).
  • n is the number of times that interest is compounded per year.
  • t is the time in years for which the money is invested or borrowed.

In this problem:

  • We want to have Php 500 to be withdrawn monthly for 5 years, hence A(t) = 500 x 12 x 5 = 30000.
  • The first withdraw is 6 years from now, hence t = 6.
  • The interest rate is of r = 0.09.
  • Compounded quarterly, hence n = 4.

The amount deposited is the principal, hence:

A(t) = P\left(1 + \frac{r}{n}\right)^{nt}

30000 = P\left(1 + \frac{0.09}{4}\right)^{4(6)}

(1.025)^{24}P = 30000

P = \frac{30000}{(1.025)^{24}}

P = 16586.26

A sum of $16,586.26 must be deposited.

To learn more about compound interest, you can take a look at brainly.com/question/25781328

You might be interested in
It is desired to produce and aligned carbon fiber-epoxy matrix composite having a longitudinal tensile strength of 630 MPa. Calc
ratelena [41]

Answer:

The answer is below

Explanation:

Given that:

Diameter (D) = 0.03 mm = 0.00003 m, length (L) = 2.4 mm = 0.0024 m, longitudinal tensile strength (\sigma_{cd})=630\ MPa = 630*10^6\ Pa, Fracture strength

(\sigma_f)=5100\ MPa=5100*10^6\ Pa,fiber-matrix\ stres(\sigma_m)=17.5\ MPa=17.5*10^6\ Pa,matrix\ strength=\tau_c=17\ MPa=17 *10^6\ Pa

a) The critical length (L_c) is given by:

L_c=\sigma_f*(\frac{D}{2*\tau_c} )=5100*10^6*\frac{0.00003}{2*17*10^6}=0.0045\ m=4.5\ mm

The critical length (4.5 mm) is greater than the given length, hence th composite can be produced.

b) The volume fraction (Vf) is gotten from the formula:

\sigma_{cd}=\frac{L*\tau_c}{D}*V_f+\sigma_m(1-V_f)\\\\V_f=\frac{\sigma_{cd}-\sigma_{m}}{\frac{L*\tau_c}{D}-\sigma_{m}}  \\\\Substituting:\\\\V_f=\frac{630*10^6-17.5*10^6}{\frac{0.0024*17*10^6}{0.00003} -17.5*10^6} \\\\V_f=0.456

6 0
2 years ago
Four kilograms of carbon monoxide (CO) is contained in a rigid tank with a volume of 1 m3. The tank is fitted with a paddle whee
Juli2301 [7.4K]

Answer:

a) 1 m^3/Kg  

b) 504 kJ

c) 514 kJ

Explanation:

<u>Given  </u>

-The mass of C_o2 = 1 kg  

-The volume of the tank V_tank = 1 m^3  

-The added energy E = 14 W  

-The time of adding energy t = 10 s  

-The increase in specific internal energy Δu = +10 kJ/kg  

-The change in kinetic energy ΔKE = 0 and The change in potential energy  

ΔPE =0  

<u>Required  </u>

(a)Specific volume at the final state v_2

(b)The energy transferred by the work W in kJ.  

(c)The energy transferred by the heat transfer W in kJ and the direction of  

the heat transfer.  

Assumption  

-Quasi-equilibrium process.  

<u>Solution</u>  

(a) The volume and the mass doesn't change then, the specific volume is constant.

 v= V_tank/m ---> 1/1= 1 m^3/Kg  

(b) The added work is defined by.  

W =E * t --->  14 x 10 x 3600 x 10^-3 = 504 kJ  

(c) From the first law of thermodynamics.  

Q - W = m * Δu

Q = (m * Δu) + W--> (1 x 10) + 504 = 514 kJ

The heat have (+) sign the n it is added to the system.

7 0
2 years ago
Which of the following explains the purpose of a convertible screwdriver?
aliya0001 [1]

Answer:

The correct option is;

To be able to switch between different heads quickly and easily

Explanation:

A screwdriver is a tool or device that has a grip handle which surrounds an extension shaft that has a forged tip that fits into the complementary groove  on a screw head such that by turning the handle while the forged head of the screwdriver sits in a screw head, the screw is turned

A convertible screw driver is built with the capability to easily change the tip or other attributes of the screwdriver quickly.

7 0
2 years ago
In unguided medium (free space), the electromagnetic (EM) signal wave spreads as it leaves the transmit antenna. Since the power
Daniel [21]

Answer:

a. True

Explanation:

5 0
2 years ago
HELP PLEASE ! TYYYY!!!!!!!!!!!!!!!!!!!!!!!!
My name is Ann [436]

You can pick the song Cover me in sunshine- By pink

  • <em>This</em><em> </em><em>is</em><em> </em><em>a</em><em> </em><em>very</em><em> </em><em>beautiful</em><em> </em><em>song</em><em> </em><em>that</em><em> </em><em>describes</em><em> </em><em>happiness</em><em>.</em>
  • <em>I</em><em> </em><em>feel</em><em> </em><em>happy</em><em> </em><em>when</em><em> </em><em>I</em><em> </em><em>listen</em><em> </em><em>to</em><em> </em><em>this</em><em> </em><em>song</em><em> </em><em>because</em><em> </em><em>it</em><em> </em><em>shows</em><em> </em><em>the</em><em> </em><em>connection</em><em> </em><em>between</em><em> </em><em>a</em><em> </em><em>mother</em><em> </em><em>and</em><em> </em><em>daughter</em><em>.</em>
  • <em>Also</em><em>,</em><em> </em><em>The</em><em> </em><em>song</em><em> </em><em>compares</em><em> </em><em>Sunshine</em><em> </em><em>with</em><em> </em><em>Happiness</em><em>.</em>
8 0
2 years ago
Other questions:
  • Evaporation in Double-Effect Reverse-Feed Evaporators. A feed containing 2 wt % dissolved organic solids in water is fed to a do
    14·1 answer
  • em 4:A water jet strikes normal to a xedplate. If diameter of the outlet of the nozzle is 8 cm,and velocity of water at the outl
    9·1 answer
  • Create a separate function file fieldtovar.m that receives a single structure as an input and assigns each of the field values t
    15·1 answer
  • A pinion and gear pair is used to transmit a power of 5000 W. The teeth numbers of pinion
    8·1 answer
  • Which of the following activities could be considered unethical?
    7·1 answer
  • What would happen if the brake pedal was released while the bleed screw was open during brake bleeding?
    7·1 answer
  • What are the nine Historical periods?
    9·1 answer
  • If aligned and continuous carbon fibers with a diameter of 9.90 micron are embedded within an epoxy, such that the bond strength
    11·1 answer
  • For the floor plan shown, if a = sm b= 8m, specify type of Load on Beam AHS<br> D<br> B В
    10·1 answer
  • The side area of the door shell that is concealed when the door is closed is called the:
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!