Answer:
V=129659.9491≈129659.95
Step-by-step explanation:
Answer:
$976,578.71
Step-by-step explanation:
We assume the deposits are made at the <em>beginning</em> of each quarter. The quarterly interest rate is 6%/4 = 1.5%. The number of quarterly payments is 15×4 = 60. The future value of an annuity due is ...
A = P(1+r)((1+r)^n -1)/r
where r is the quarterly interest rate, n is the number of payments, and P is the payment amount.
A = $10000(1.015)(1.015^60 -1)/.015 ≈ $976,578.71
The future value is $976,578.71.
3x+4y=11
4y=11-3x
Substituting this into x+4y=9
X+11-3x=9
-2x=9-11
-2x=-3
2x=3
X=3/2
Substituting this into x+4y=9
3/2+4y=9
4y=9-3/2
4y=18/2-3/2
4y=15/2
Y=15/2/4
Y=15/8
X=1 1/2
Y=1 7/8
A = P(1+r%)ⁿ , where P = initial value, A= new value, n = number of years and
r% is the growth or depreciation rate, depending on its sign:
If it's a depreciation, the formula becomes:
A = P(1 - r%)ⁿ
500 = 15000(1-0.3)ⁿ
500/15000 = (0.7)ⁿ
0.033333 = 0.7ⁿ
ln(0.03333) = n.ln(0.7)
n = ln(0.03333)/ln(0.7)
n = 9.5 years
