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
Viktor [21]
1 year 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]1 year 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

You might be interested in
Simplify the following expression:<br><br> 7472
Rainbow [258]

Answer:

7^2

Step-by-step explanation:

i hope this helps :)

7 0
2 years ago
Read 2 more answers
What is the value of x?
melisa1 [442]

Answer:

x=71

Step-by-step explanation:

38+x+x=180

x+x=142

2x=142

x=71

3 0
3 years ago
For the graph of the function, identify the axis of symmetry, vertex and the formula for the function.
snow_tiger [21]
We know that this is a parabola, as the equation is denoted by the x^2 term.

We can see that the symmetry is seen at the point -0.5, therefore making the axis of symmetry the vertical line -0.5.

The vertex is found in quadrant three. In other words, it will shift by a negative value both horizontally and vertically. The vertex is therefore (-0.5, -0.5).

We can verify this in the equations by using the formula (-b/2a) to find the vertex. The only quadratic equation that satisfies this is -2x^2 + 2x -1.

To sum it up, the answers are:

-2x^2 + 2x - 1.

AoS: x = -0.5

Vertex: (-0.5, -0.5).
7 0
3 years ago
Circle V is shown. Line segment T V is a radius with length 14 feet.
lawyer [7]

We have been given graph of circle V with radius 14 feet. We are asked to find the area of the circle V.

We will use area of circle formula to solve our given problem.

A=\pi r^2, where r represents radius of circle.

Upon substituting r=\text{14 ft} in above formula, we will get:

A=\pi(14\text{ ft})^2

A=\pi(14)^2\text{ ft}^2

A=\pi\cdot 196\text{ ft}^2

A=196\pi\text{ ft}^2

Therefore, the area of the circle V is 196\pi square feet and option 'c' is the correct choice.

5 0
3 years ago
Arianna invests $2,000 into an ETE which earns 2% per year. In 10 years, how much will Arianna's investment be worth if interest
Alchen [17]

Answer:

$2040

Step-by-step explanation:

3 0
2 years ago
Other questions:
  • The measure of 13 of the 14 angles of a 14-gon add up to 2012 degrees. What must the fourteenth angle measure be
    12·1 answer
  • Angelina has 5 cakes. She
    10·1 answer
  • how wants to carpet a 12footby 18foot rectangular living room and a square bedroom. one side length of the square bedroom is 12f
    6·1 answer
  • Craig is tiling the floor of his bathroom. He wants 1/4 of the tiles to be brown. What other fractions can represent the part of
    5·1 answer
  • Visitors to a cinema are either children, adults or pensioners. The ratio for children to adult viewers is 1 : 2 The ratio of ad
    12·1 answer
  • Combine the like terms to create an equivalent expression:<br> −3x−6+(−1)
    9·2 answers
  • You are selling books for $4 each to raise money for a trip. You have to pay $10 for the table. Write a rule for the amount of b
    13·1 answer
  • Can you find a strategy for splitting any number so that you always get the largest product?
    12·1 answer
  • I dont understand if anybody can help me i would be happy​
    15·2 answers
  • In a one-tail hypothesis test where you reject h0 only in the upper tail, what is the p-value if z-stat= 1. 70?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!