Answer:
Annual deposit= $3,474.39
Explanation:
Giving the following information:
You want to have $60,000 in your savings account 12 years from now, and you’re prepared to make equal annual deposits into the account at the end of each year. The account pays 6.4 percent interest.
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (60,000*0.064)/[(1.064^12)-1]= $3,474.39
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Answer:
x +(2x + 3) = 33
Step-by-step explanation:
two equations can be derived from the question
c = 3 + 2x equation 1
c + x = 33 equation 2
where :
c = cappuccinos
x = lattes
make c the subject of the formula in equation 2
c = 33 - x equation 3
equate 3 and 1
x +(2x + 3) = 33
