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Sidana [21]
11 months ago
6

To offer scholarships to children of employees, a company invests $13,000 at the end of every three months in an annuity that pa

ys 9% compounded quarterlya. How much will the company have in scholarship funds at the end of ten years?b. Find the interestClick the icon to view some finance formulasa. The company will have $ in scholarship funds,(Do not round until the final answer. Then round to the nearest dollar as needed)b. The interest is $(Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.)h
Mathematics
1 answer:
Andreyy8911 months ago
5 0

Annuities

Suppose a fixed investment R is done every fixed number of periods m per year for t years at a constant rate r.

a.

The final value of the investments plus the interest is calculated as follows:

FV=R\cdot\frac{(1+i)^n-1}{i}

Where:

n = number of total periods of the investment.

n = m*t

i=\frac{r}{m}

The company invests R = $13,000 for t = 10 years at the end of every quarter (3 months), thus m = 4. The interest rate is r = 9% = 0.09.

The interest rate compounds quarterly.

Calculate:

n = 4*10 = 40

i = 0.09 / 4 = 0.0225

\begin{gathered} FV=\$13,000\cdot\frac{(1+0.00225)^{40}-1}{0.0225} \\ FV=\operatorname{\$}13,000\times\frac{(1.00225)^{40}-1}{0.0225} \\ FV=\operatorname{\$}13,000\times\frac{2.435188965-1}{0.0225} \\ FV=\operatorname{\$}13,000\cdot63.786176 \end{gathered}

Calculating:

FV = $829,220

The company will have $829,220 in scholarship funds

b. The interest can be found by subtracting the final value and the initial value. We have to calculate the latter:

\begin{gathered} A=FV(1+i)^{-n} \\ A=\$829,220(1.0225)^{-40} \\ A=\$340,516 \end{gathered}

Thus, the interest is:

welcI = $829,220 - $340,516

I = $488,704

The interest is $488,704

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agasfer [191]

Answer:

  • E = { (4,1) , (3,2) , (2,3) , (1,4) }
  • P(E)=\frac{1}{9}
  • P(F|E)=\frac{1}{4}

Step-by-step explanation:

Let's start writing the sample space for this experiment :

S= { (1,1) , (1,2) , (1,3) , (1,4) , (1,5) , (1,6) , (2,1) , (2,2) , (2,3) , (2,4) , (2,5) , (2,6) , (3,1) , (3,2) , (3,3) , (3,4) , (3,5) , (3,6) , (4,1) , (4,2) , (4,3) , (4,4) , (4,5) , (4,6) , (5,1) , (5,2) , (5,3) , (5,4) , (5,5) , (5,6) , (6,1) , (6,2) , (6,3) , (6,4) , (6,5) , (6,6) }

Let's also define the event E ⇒

E : '' The sum of the two dice is 5 ''

We can describe the event by listing all the favorables cases from S ⇒

E = { (4,1) , (3,2) , (2,3) , (1,4) }

In order to calculate P(E) we are going to divide all the cases favorables to E over the total cases from S. We can do this because all 36 of these possible outcomes from S are equally likely. ⇒

P(E)=\frac{4}{36}=\frac{1}{9} ⇒

P(E)=\frac{1}{9}

Finally we are going to define the event F ⇒

F : '' The number of the first die is exactly 1 more than the number on the second die ''

⇒

F = { (2,1) , (3,2) , (4,3) , (5,4) , (6,5) }

Now given two events A and B ⇒

P ( A ∩ B ) = P(A,B)

We define the conditional probability as

P(A|B)=\frac{P(A,B)}{P(B)} with P(B)>0

We need to find P(F|E) therefore we can apply the conditional probability equation :

P(F|E)=\frac{P(F,E)}{P(E)}   (I)

We calculate P(E)=\frac{1}{9} at the beginning of the question. We only need P(F,E).

Looking at the sets E and F we find that (3,2) is the unique result which is in both sets. Therefore is 1 result over the 36 possible results. ⇒

P(F,E)=\frac{1}{36}

Replacing both probabilities calculated in (I) :

P(F|E)=\frac{P(F,E)}{P(E)}=\frac{\frac{1}{36}}{\frac{1}{9}}=\frac{1}{4}=0.25

We find out that P(F|E)=\frac{1}{4}=0.25

6 0
3 years ago
Let x1 = 12, y1 = 15, and y2 = 3. Let y vary inversely with x. Find x2.
Ostrovityanka [42]
We have that an inverse variation in a function is given by:
 y = k / x

 We must find the value of the constant k.
 To do this, we substitute the values of x1 = 12, y1 = 15.
 We have then:
 15 = k / 12

 Clearing k we have:
 k = (15) * (12)

k = 180
 Substituting the value of k we have that the inverse variation is:
 y = 180 / x

 For y2 = 3 we have:
 3 = 180 / x2

 Clearing x2 we have:
 x2 = 180/3
 x2 = 60
 Answer:
 
x2 = 60
3 0
3 years ago
What are the solutions of the quadratic equation 0 = 4(x - 3)2 - 16?
erastovalidia [21]

Answer:

 x = 5, x = 1

Step-by-step explanation:

The quadratic equation 0 = 4(x - 3)2 - 16.

Using binomial theorem, (a - b)2 = a2 - 2ab + b2 to expand (x - 3)2.

0 = 4(x2 - 6x + 9 ) - 16.

Using distributive property to multiply 4 by x2 - 6x + 9.

0 = 4x2 - 24x + 36 - 16.

Subtract 16 from 36 to get 20.

0 = 4x2 - 24x + 20.

4x2 - 24x + 20 = 0.

Divide both sides by 4.

x2 - 6x + 5 = 0.

To solve the equation, factor and rewrite as x2 + ax + bx + 5

a + b = -6, ab = 1(5) = 5.

a = -5, b = -1.

Rewriting x2 - 6x + 5 as

(x2 - 5x) + (-x + 5)

Factor x in the first and -1 in the second group.

x(x - 5) - (x - 5)

Factor out common term

(x - 5)(x - 1)

By solving the above, we get

x = 5, x = 1

8 0
2 years ago
A straight line is to a ruler as an angle is to: A. cosine B. two rulers C. protractor D. calculator
Lelechka [254]

Answer:

Protractor

Step-by-step explanation:

You use a ruler to draw a straight line.

You use a protractor to draw an angle.

8 0
3 years ago
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2 more because im going broke lol
mart [117]

Answer:

thanks again man!!!! wooo

3 0
2 years ago
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