Answer:
<em>$7,196.42 </em>
Step-by-step explanation:
Using the compound interest formula to fins the amount after 10years;
A = P(1+r)^n
Principal P = $400,000
Rate r = 8% = 0.08
Time t = 10 years
Substitute
A = 400,000(1+0.08)^10
A = 400,000(1.08)^10
A = 400,000(2.1589)
A = 863,569.99
A ≈ 863,570
Hence the amount after 10 years is $863,570
Monthly deposit = $863,570/120 (10 years is equivalent to 120months)
Monthly deposit = 7,196.42
<em>Therefore he will have to deposit $7,196.42 into his account monthly</em>
Answer:
Step-by-step explanation:
18 miles..................60 min
18/60= 0.30 miles/ min
10 minutes 0.30*10=3 miles
Answer:
The second one (2) is a lie
Step-by-step explanation:
The quantities are all proportional, with 4 donuts costing one dollar being consistant. With this, we can multiply the amount of donuts to 40, and through what we know, we can find that the donuts will cost 10 dollars. This leaves only (2) left.
Nickels = x
dimes = x + 4
quarters = x
Value of coins:
nickel = 5 cents
dime = 10 cents
quarter = 25 cents
5x + 10(x + 4) + 25x = 3.20
5x + 10x + 40 + 25x = 320
40x = 320 - 40
40x = 280
x = 280/40
x = 7
There are 7 quarters, 7 nickels and 11 dimes.
Answer: 2 - 4x = 6
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