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sveticcg [70]
3 years ago
7

How many years does it take for an annuity of $ 1,000 to grow to $ 20,000, assuming k = 7%?

Mathematics
1 answer:
FromTheMoon [43]3 years ago
8 0
For an annual deposit of A=$1000 (at the end of the year) at an annual interest rate of i=7% compounded yearly, the future value 
F=\frac{A((1+i)^n-1)}{i}   where n=number of years
=>
20000=\frac{1000((1+.07)^n-1)}{.07}
on simplification
1.4=(1.07)^n-1
(1.07)^n=2.4
take logs and solve for n
n=log(2.4)/log(1.07)
n=12.939  years, to the nearest 0.001 year

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Larissa wants to inscribe a regular hexagon in a circle using only a compass and straightedge. She will construct a circle and f
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5 0
3 years ago
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What three consecutive integers equal -87?
olchik [2.2K]

Answer:

What three consecutive integers have a sum of 87? Which means that the first number is 28, the second number is 28 + 1 and the third number is 28 + 2. Therefore, three consecutive integers that add up to 87 are 28, 29, and 30. We know our answer is correct because 28 + 29 + 30 equals 87 as displayed above.

Step-by-step explanation:

Consecutive integers are as simple as 1, 2, 3!  

Integers are consecutive if one follows another.  How do we "jump" from one integer to the next?  We add 1, right?  7, 8 and 9 are three consecutive integers.  Add one to 7 to get 8 and add one more to get 9.

Now lets think about this in algebraic terms.  Lets name these consecutive integers , x, y and z.  

The problem tells us that their sum is -87.  (Recall, "sum" is just a fancy word for the answer when we add.)

x+y+z = -87  

Here is the trick!  We need to rewrite this equation so that we have only one variable.  Easy!

y is one more that x, so y= x+1

And z is one more than y, so z= y+1.  But y is also equal to (x+1)!  So z=y+1=(x+1)+1=x+2

Now we have a problem that we can solve!  x+(x+1)+(x+2)=-87.  

Combining term.:  3x+3=-87  

Subtract 3 from both sides of the equation:  3x=84

Divide each side of the equation by 3:  x=28

We have solved for x, but we are not done!  We need to find y and z.  I know you can do this.  Remember y is one more than x and z is one more than y.

Check your work!  Make sure these three consecutive numbers do in fact add up to -87.

4 0
3 years ago
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