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Viktor [21]
2 years ago
7

You want to buy a new car, but you don’t want to have a huge car loan payment every month, so you want to pay half of the $24,00

0 cost. How much money would you need to save each month at 2% annual interest compounded monthly to have $12,000 in the account after 2 years?
Mathematics
1 answer:
Sindrei [870]2 years ago
5 0

The amount I would need to save each month is $500.29.

<h3>How much should I save each month?</h3>

The formula that can be used to determine the amount I should save each month is : future value / annuity factor

Annuity factor = {[(1+r)^n] - 1} / r

Where:

  • r = interest rate = 2% / 12 = 0.17%
  • n = number of years = 2 x 12 = 24

Annuity factor =[ (1.0017)^(12 x 2) ] - 1 / 0.0017 = 23.99

Monthly savings = 12,000 / 23.99 = $500.29

To learn more about annuities, please check: brainly.com/question/24108530

#SPJ1

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Which of the pairs of events below is mutually exclusive?
Nady [450]

Answer:

Drawing an ace of spades and then drawing another ace of spades without replacement from a standard deck of cards.

Step-by-step explanation:

Given four pair of events:

1. Drawing an ace of spades and then drawing another ace of spades without replacement from a standard deck of cards

2. Drawing a 2 and drawing a 4 with replacement from a standard deck of cards

3. Drawing a heart and then drawing a spade without replacement from a standard deck of cards

4. Drawing a jack and then drawing a 7 without replacement from a standard deck of cards

To find:

Which of the pairs is mutually exclusive?

Solution:

First of all, let us have a look at the definition of mutually exclusive events.

Mutually exclusive events do not have any case in common.

In other words, two events are known as mutually exclusive when both the events can not occur at the same time.

Now, let us have a look at the given options one by one:

1. Drawing an ace of spades and then drawing another ace of spades without replacement from a standard deck of cards.

We know that there is only one ace of spades in a standard deck.

Therefore, the two events can not occur one after the other, so these are mutually exclusive events.

2. Drawing a 2 and drawing a 4 with replacement from a standard deck of cards.

The two events can occur one after the other, so these are not mutually exclusive.

3. Drawing a heart and then drawing a spade without replacement from a standard deck of cards.

Separate cards are drawn one after the other, so not mutually exclusive.

4. Drawing a jack and then drawing a 7 without replacement from a standard deck of cards.

Separate cards are drawn one after the other, so not mutually exclusive.

3 0
3 years ago
What is the answer !​
kondor19780726 [428]

Answer:

m∠OKG = 95°

Step-by-step explanation:

In the given question,

Angle OKL and angle OKG are the linear pairs.

And we know that sum of linear pair of angles is 180°.

Therefore, m∠OKL + m∠OKH = 180°

85° + m∠OKH = 180°

m∠OKH = 180° - 85°

              = 95°

Therefore, measure of angle OKG = 95° will be the answer.

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Step-by-step explanation:

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