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NikAS [45]
3 years ago
12

44. Skiing A skier is trying to decide whether or not to buy a

Mathematics
1 answer:
finlep [7]3 years ago
5 0
$67 x 6 = 402
402 + (25 x 6) = 552

$350 + (25 x 6) = 500

the skier would have to go skiing for 6 days in order to make the season pass less expensive than the daily pass.
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Find the amount of each payment to be made into a sinking fund which earns 9​% compounded quarterly and produces ​$43 comma 000
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Answer:

$2647.18

Step-by-step explanation:

Formula : A[\frac{1+(\frac{r}{n})^{n}-1 }{(\frac{r}{n} )}]

Future value = $43,000

r = rate of interest = 9% = 0.09

t = 3.5 years (compounded quarterly)

n = number of compounding (3.5 × 4) = 14

Now put the values into formula :

43000 = A[\frac{1+(\frac{0.09}{4})^{14}-1 }{(\frac{0.09}{4} )}]

43000=A(\frac{(1+0.0225)^{14}-1}{\frac{0.09}{4}})

43000=A(\frac{(1.0225)^{14}-1}{0.0225})

43000=A(\frac{0.365483427}{0.0225})

43,000 = A(16.243708)

A = \frac{43000}{16.243708}

A = $2,647.17883 ≈ $2647.18

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