1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Elena L [17]
2 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]2 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

You might be interested in
Help with question 4 please
Juliette [100K]

Answer:     y=5                           x=11

abc=def                                      

ab=de                                         <b=<e

17y-8=12+13y                              11x-4=117

-13y        -13y                                  +4   +4

4y-8=12                                      11/11x=121/11

  +8  +8                                           x=11

4/4y=20/4

y=5

7 0
2 years ago
Find another way to make<br> to make<br> Move a<br> Way<br> Ways to make 6/10
Step2247 [10]
Hiiiiiiiiiiiiiiiii guys
4 0
2 years ago
find real numbers a, b, and c so that the graph of the function y=ax^2+c contains the points (-1,6), (2,7), and (0,1)
Paraphin [41]
This gives you three simultaneous equations:

6 = a + c
7 = 4a + c
1 = c
 
<u>c = 1
</u>
<u /><u />
If c =1,

6 = a + 1
<u>a = 5
</u>
<u /><u />
This doesn't work in the second equation, so the quadratic that goes through these points is not in the form y = ax^2 + bx + c
Was there supposed to be a b in the equation?




5 0
3 years ago
What is the difference between -93 and 114 on a number line?
zhenek [66]
Distance:  7-(-3)=10 Midpoint:  (7+(-3))=4/2=2 hahaha haha thats right


3 0
2 years ago
A resturant bill comes to 28.35. find the total cost if the tax is 6.25 percent and a 20 percent tip is left on the amount
olya-2409 [2.1K]
28.35x 0.0625 = 1.772 (tax) 28.35 *0.2 = 5.67 (tip) 28.35+1.772+5.67 = ....
6 0
3 years ago
Other questions:
  • The formula for electrical power is P, is P= I^2 R, where I is current and R is resistance. The formula for I in terms of. P and
    13·2 answers
  • Can you help me with this problems
    13·1 answer
  • ANSWER THIS PLEASE!!!!!!!!!!!!
    14·1 answer
  • I have a quiz on this tomorrow and i'm completely lost someone please help
    8·1 answer
  • 5(x−2)+3(2−x). simplify
    6·1 answer
  • LAST QUESTION...ILL GIVE BRAINLESS FOR BEST EXPLANATION​
    13·1 answer
  • The total amount, (a) in dollars that Mitra earns is a = 14.6 h, where ( h ) is the number of hours that she works. What is the
    8·1 answer
  • PLEASE IT DUE IN 1 HR :(((((( During the month of February, Fabulous Feet Shoe Mart sold 30 pairs of red loafers. After an ad ca
    11·2 answers
  • - x(x + 7 (x - 5)<br> Graph this
    7·1 answer
  • Which fraction equals the ratio of rise to run between the points (-3,-4) and (0, 0)?
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!