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Elena L [17]
3 years ago
7

Morgan Bowie is trying to determine the amount to set aside so that he will have enough money on hand in 3 years to overhaul the

engine on his vintage used car. While there is some uncertainty about the cost of engine overhauls in 3 years, by conducting some research online, Morgan has developed the following estimates.
Engine Overhaul Estimated Cash Outflow Probability Assessment
$390 10%
570 30%
750 50%
790 10%


How much should Keith Bowie deposit today in an account earning 6%, compounded annually, so that he will have enough money on hand in 6 years to pay for the overhaul?
Mathematics
1 answer:
Nostrana [21]3 years ago
6 0

Answer:

$468.09

Step-by-step explanation:

first we must calculate the expected future value of the engine overhaul:

($390 x 10%) + ($570 x 30%) + ($750 x 50%) + ($790 x 10%) = $39 + $171 + $375 + $79 = $664

now we must determine the present value of $664 using a 6% interest rate:

PV = FV / (1 + r)⁶ = $664 / 1.06⁶ = $468.09

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Find the measure of FG.
Mashutka [201]

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26

Step-by-step explanation:

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3 years ago
If $8259 principal is invested in a savings account that pays 5.25% interest compounded continuously how much money will be in t
VMariaS [17]

Answer:

A(10) = $13,961.50

Step-by-step explanation:

First, convert R as a percent to r as a decimal

r = R/100

r = 5.25/100

r = 0.0525 rate per year,

Then solve the equation for A

The formula is given as:

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t = 10 years.

Hence,

A = 8,259.00 × e^(0.0525×10)

A = $13,961.50

Therefore, the money that will be in the account after 10 years is $13,961.50

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3 years ago
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weeeeeb [17]

Answer:

13) 25 and 17

14) cupcakes = $5

brownies = $3

Step-by-step explanation:

13)  you can set this up as equations

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What equation models the data in the table if d = number of days and c = cost?
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Answer:

c=3d

Step-by-step explanation:

What equation models the data in the table if d = number of days and c = cost? Days Cost 2 6 3 9 5 15 6 18

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Given that:

Days  Cost

2          6

3          9

5         15

6         18

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