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12345 [234]
2 years ago
8

Abril and Alanis put some money into their money boxes every week. The amounts of money (y), in dollars, in their money boxes af

ter certain amounts of time (x), in weeks, are shown by the equations below:
Abril
y = 50x + 10

Alanis
y = 30x + 70

After how many weeks will Abril and Alanis have the same amount of money in their money boxes, and what will that amount be? (1 point)


3 weeks, $160

3 weeks, $210

4 weeks, $160

4 weeks, $210
Mathematics
1 answer:
AnnZ [28]2 years ago
8 0

Answer:

  • A. 3 weeks, $160

Step-by-step explanation:

If the value of y is same for both then we have equal right sides of equations

  • 50x + 10 = 30x + 70

Solve this for x

  • 50x - 30x = 70 - 10
  • 20x = 60
  • x = 60/20
  • x = 3

Find the value of y

  • y = 50*3 + 10 = 150 + 10 = 160

Correct choice is A

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Calculate the future value of the annuity assuming that it is (1) an ordinary annuity (2) an annuity due. Comparing the two type
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Answer: Here's the complete question.

calculate the future value of the annuity assuming that it is (1) an ordinary annuity (2) an annuity due. Comparing the two types of annuities, all else equal, which type is more preferable? Why? Amount of annuity Interest rate Deposit period (years) $500 12% 6

Ordinary annuity = 4545, annuity due = 4058 , ordinary annuity is better because it discounts for one less year

Ordinary annuity = 4058, annuity due = 4545, annuity due is better because it discounts for one less year.

Ordinary annuity = 4058, annuity due = 4545, annuity due is better because it compounds for one more year.

Ordinary annuity = 4545, annuity due = 4058 , ordinary annuity is better because it compounds for one more year.

Step-by-step explanation:

Future value of ordinary annuity = Amount*[{(1+r)n – 1}/r]

= 500*[{(1.12)6 – 1}/0.12]

= $4,057.59

i.e. $4,058

Future value of annuity due = (1+r)*Future value of ordinary annuity

= 1.12*4,058

= $4,545

Hence, the answer is

Ordinary annuity = 4058, annuity due = 4545, annuity due is better because it compounds for one more year.

Since payments are made at the beginning of the year

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Answer:

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Step-by-step explanation:

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