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Snowcat [4.5K]
2 years ago
7

The day you were born your Grandparents started to save money for your future education. They decided to deposit $3,000 at the e

nd of each year, for eighteen years, in a savings account that pays 7.5% per year, compounded annually.
On your 19th birthday you get admission into university for a four-year degree course. You calculate that you require approximately $35,000, for your fees, books and living expenses for each year. Assuming you keep the money in the bank accruing the same interest, and withdraw $ 35,000, at the beginning of each year.

a) Calculate the total value of this investment at the end of the term?

b) Determine the total interest earned?

Will your inheritance last you for the full tenure of your four years at the university?
​
Mathematics
1 answer:
cestrela7 [59]2 years ago
5 0

The total value of the investment is $107,032.16.

The total interest earned is $53,032.16

The inheritance would last the tenure of the university.

<h3>What is the total value of the investment?</h3>

The formula that can be used to determine the future value of the 18-year annuity is: annuity factor x amount deposited yearly

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

Where:

  • r = interest rate
  • n = number of years

$3000 x [(1.075^18 - 1) / 0.075] = $107,032.16

Amount deposited in the course of 18 years = (3000 x 18) = 54,000

Interest earned = 107,032.16 - 54,000 = $53,032.16

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

#SPJ1

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Eight beads are strung in a necklace with a clasp, how many ways<br> can the beads be arranged?
Elena L [17]

Answer:

Number of total arrangement of beads = 2,520

Step-by-step explanation:

Given:

Number of beads in necklace = 8 beads

Find:

Number of total arrangement of beads

Computation:

Changing beads is a cyclic permutation,

So,

Formula to find number of total arrangement in cyclic permutation

(n-1)!/2 , where n = number of item

So,

(n-1)!/2

Number of total arrangement of beads = (8-1)!/2

Number of total arrangement of beads = (7)!/2

Number of total arrangement of beads = (7 x 6 x 5 x 4 x 3 x 2 x 1) / 2

Number of total arrangement of beads = 5,040 / 2

Number of total arrangement of beads = 2,520

7 0
3 years ago
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cricket20 [7]

Answer:

the answer should be B -3

Step-by-step explanation:

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6 0
3 years ago
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Suppose that fanf g are continuous functions,
shtirl [24]

The required result based on given continuous functions is: 207. See the explanation for same below.

<h3>What are continuous functions?</h3>


A continuous function in mathematics is one in which a continuous variation (that is, a change without a jump) of the argument causes a continuous variation of the function's value.

<h3>What is the calculation for the above solution?</h3>

Since G and F are continuous functions,

\int_{12}^{28}) \, f(x) dx = 19

\int_{12}^{28}) \, f(x) dx = 35

Therefore,

\int_{12}^{28}) \, [K g(x) - 2 f(x)] dx

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So, given that K = 7, we have

7 x 35 - 2 x 19
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7 0
1 year ago
How can you minimize the risk from your Investments
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A table saw is on clearance for 20% off. If the sale price of the table saw is $380, what was the original price? Justify your s
Nikolay [14]

20% off means it is selling for 80% of the original price ( 100% - 20% =80%)

Divide the sale price by 80% as a decimal:

380/0.80 = 475

The original price was $475

Justify:

Multiply the original price by 20% and subtract:

475 x 0.20 = 95

475-95 = $380 which is the sale price.

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3 years ago
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