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
Maslowich
3 years ago
5

Lauren plans to deposit $6000 into a bank account at the beginning of next month and $225/month into the same account at the end

of that month and at the end of each subsequent month for the next 4 years. If her bank pays interest at a rate of 3%/year compounded monthly, how much will Lauren have in her account at the end of 4 years?
Mathematics
1 answer:
IgorC [24]3 years ago
3 0

Answer:

$18206.5

Step-by-step explanation:

Considering,  r = interest rate

    n = number of intervals

    t = duration of the payment

    A = monthly installment  

   PV = Present Value

   FV = Final Value

Using the formula

FV=PV (1+ r/n)^{nt-1 + a((1+ r/n)^{nt-1/\frac{r}{n})

FV=6000(1+ \frac{0.03}{12} )^{(12)(4)-1} +225\frac{(1+0.03/12)^{(12)(4)}-1 )}{0.03/12}

FV= 6747 + 11459.5

FV=18206.5

Her balance in 4 years is $18206.5

You might be interested in
What is the measure of x?
emmasim [6.3K]
The measure of x is 24 degrees
One straight line is 180 degrees
We already have another line that forms an angle with the straight line and it gives u 156
So just subtract 156 from 180 to see what remains and that’s the answer
4 0
3 years ago
Read 2 more answers
PLEASE HELP ME......
Yuri [45]
D. 2,575 yd^2
Hope this helps Issarealqueen! :D
6 0
3 years ago
How do I graph this?
Harrizon [31]

Answer:

So, in order to solve this, you need to know slope. Slope is equal to rise (up/down) over run (left/right). The number at the end, which in this case is 2, is the y-intercept. So, first, graph a point on the y-axis, which is 2. Next, you can place any other point on the line, as long as it follows your slope, which is 3/5. If you need a better explanation, just graph (0, 2) on the y-axis and also graph the point (3, 5).

Have a good one,

Philip

BRAINLIEST IS ALWAYS APPRECIATED! <3

4 0
3 years ago
Find the values of x1 and x2 where the following two constraints intersect.
Arte-miy333 [17]

Answer: x1 = 251/26, x2 = -111/26

Step-by-step explanation:

Hi!

As you can see in the figure, the point you are looking for is the intersection of two lines.

The intersection point is found solving this system of linear equations (the point must satisfy both equations):

9x_1 +7x_2=57\\4x_1 + 6x_2 = 13

You can solve it, for example, by the method of substitution:

\text{solve for x1 in the first equation:}\\x_1 = \frac{1}{9}(57 - 7x_2)

Then plug x1 into equation 2, and solve for x2:

\frac{4}{9}(57-7x_2) + 6x_2 = 13\\\text{doing the algebra you get:}\\x_2 = \frac{-111}{26}

Then you use the value of x2 to get x1:

x_1 = \frac{1}{9}(57 - 7x_2)= \frac{1}{9}(57 + 7*\frac{111}{26}) = 251/26\\

4 0
4 years ago
You buy some beads and string from a student on campus to make a bracelet for yourself. You valued the materials at $11 but were
Mumz [18]

Answer: the surplus is 12$

Step-by-step explanation:

You only need to calculate what you bought it for and what you sold it for

You bought the materials for eight dollars and sold the materials/bracelet for 20, 20-8 means you have a surplus of 12 dollars

5 0
4 years ago
Other questions:
  • Find the surface area 12cm 15cm 14cm 14cm
    7·1 answer
  • If f(x)=3x and g(x)=2x what is (gof)(x)?
    14·2 answers
  • Plz help
    12·2 answers
  • Please please answer this with the right answer and thanks for your help???<br><br>14 POINTZ!!<br>​
    13·2 answers
  • what is the algebraic expression for the following word phrase: the quotient of 8 and the difference of x and y?
    14·1 answer
  • WILL GIVE BRAINLIEST
    15·1 answer
  • Miguel sold 184 tickets to the school fair. What is an expression that adds the value of each digit, beginning with the greatest
    13·2 answers
  • A candy bar in the shape of a triangular prism has a length of 11 inches. The area of the base of the candy is 1.5 square inches
    12·1 answer
  • Factors of the number 81 as 1,3,27,81
    14·2 answers
  • A group of words that includes a subject and verb and makes sense on its own is a
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!