<em><u>The least amount of money you would need to invest per month is; $335</u></em>
<em><u>The anticipated rate of return on your investments is; 7%</u></em>
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- Amount to have been saved at the end of 10 years ≥ $40,000
Number of years of savings = 10 years.
- We want to find out the least amount to be invested per month.
There are 12 months in a year. Number of months in 10 years = 10 × 12 = 120 months.
- Thus, amount to be saved monthly = 40000/12 = $333.33
- Since the minimum amount he wants to save after 10 years is $40000, then we need to approximate the monthly savings in order.
Thus;
Monthly savings ≈ $335
- Now, for the anticipated rate of return on the investment, we know from S & P's that the benchmark on good rate of return for investment is a minimum of 7%.
- From online calculator, the worth of the investment after 10 years based on 7% rate of return yearly would be $57626.
Read more at; brainly.com/question/9187598
<h3>Y
ou have the correct answer</h3><h3>Interest rate = 21.5%</h3>
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Work Shown:
i = P*r*t .... simple interest formula
i = simple interest
i = 2075-1000 = 1075
P = 1000 = amount borrowed (principal)
r = unknown interest rate
t = 5 = time in years
So,
i = P*r*t
1075 = 1000*r*5
1075 = 5000r
5000r = 1075
r = 1075/5000
r = 0.215
r = 21.5%
Answer:
no solution
Step-by-step explanation:
p-4=-9+p
p=-5+p
0=-5
Answer:
The border will be 18.6 inches wide
Step-by-step explanation:
<em>Let the width be w</em>
<em>The length = 43 inches</em>
<em>Total wood = 800 square inches</em>
Formula for area of rectangle = length x width
<em>800 = 43 x w</em>
<em>w = 800/43</em>
w = 18.6 inches
Therefore, the border will be 18.6 inches wide.
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Answer:
The answer to this is: 132
Step-by-step explanation:
