Answer:
$265.07
Step-by-step explanation:
The formula for the future value of an annuity is applicable.
A = P((1+r)^n-1)/r . . . . where r is the monthly interest rate and n is the number of months. P is the monthly payment, and A is the amount of the future value.
800 = P(1.006^3 -1)/(.006) = 3.018036P
P = 800/3.018036 ≈ 265.07
Sarafina's monthly payments need to be $265.07.
_____
This is about $1.60 less than the 266.67 she would deposit if she simply divided the desired balance by the number of months.
Because this number is rounded down, Sarafina will have a balance after 3 months of $799.99.
Answer:
23)
a)0.6
b)7.6
As 1 large sq =1 therefore i rectangular line =1/10
and 1 small square=1/100
Lcm of denominators = 3,6= 6
2x2/3x2 + 1/6
(4/6+1/6=5/6
Sum is 5/6
8 . 25 % is equal to 0.0825 as a decimal fraction
Final Bill = 450 + 0.0825 * 450
= $487.13 answer
