Dave will have $12,728 after 15 years, if he has $8000 to invest for 15 years. He finds a bank that offers an interest rate of 3.1% compounded monthly.
Step-by-step explanation:
The given is,
Investment = $ 8000
No. of years = 15 years
Interest rate, i = 3.1 %
( compounded monthly )
Step:1
For for calculating future value with compound interest monthly,
.................(1)
Where,
A = Future amount
P = Initial investment
r = Rate of interest
n = Number of compounding in a year
t = Time period
Step:2
From given values,
P = $8000
r = 3.1%
t = 15 years
n = 12 ( for monthly)
Equation (1) becomes,





A = $ 12728.48
Result:
Dave will have $12,728 after 15 years, if he has $8000 to invest for 15 years. He finds a bank that offers an interest rate of 3.1% compounded monthly.
Answer:
24.5025
Step-by-step explanation:
4.95 x 4.95=24.5025
Hope I helped!
Answer:
Graph the function and its parent function. Then describe the transformation. 7.9(x) = x + 4. 8. f(x) = x - 6. 4. 8 x. -4. 48 x ... Write a function g whose graph represents the indicated transformation of the graph of f. ... 96)= 14x+31+2 -2 = 14x+3| ... 33. f(x) = x; translation 3 units down followed by a vertical shrink by a factor of.
Step-by-step explanation:
Hope this helps!
The best answer is "The buyer paid over 20% of the sales price of the home as a down payment." This indicates that not only is the buyer paying above the minimum down payment, which means he/she has more cash than the minimum needed to purchase the home, but also that the monthly payments, interest, and total loan will be lower. All of this indicates a less risky prospective borrower.