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4 years ago

I get $5 every 10 seconds how much would I have in 500 mins

Mathematics

2 answers:

Marysya12 [62]4 years ago

7 0

$15,000. There is $30 in one minute then you multiply that by 500 which gives you 15,000

zloy xaker [14]4 years ago

4 0

You would earn $15,000 in 500 mins

First you want to find how many “10 seconds” are in 500mins. To do this convert 500 mins to seconds by multiplying 500 by 60 which will give you 30,000. Next divide 10 by 30,000 which will be 3,000. With that you can multiply by 5 to get how much you would earn in 500 mins. 5*3,000=15,000.

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4 years ago

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To offer scholarships to children of employees, a company invests $13,000 at the end of every three months in an annuity that pa

Andreyy89

Annuities

Suppose a fixed investment R is done every fixed number of periods m per year for t years at a constant rate r.

The final value of the investments plus the interest is calculated as follows:

$FV=R\cdot\frac{(1+i)^n-1}{i}$

Where:

n = number of total periods of the investment.

n = m*t

$i=\frac{r}{m}$

The company invests R = $13,000 for t = 10 years at the end of every quarter (3 months), thus m = 4. The interest rate is r = 9% = 0.09.

The interest rate compounds quarterly.

Calculate:

n = 4*10 = 40

i = 0.09 / 4 = 0.0225

$\begin{gathered} FV=\$13,000\cdot\frac{(1+0.00225)^{40}-1}{0.0225} \\ FV=\operatorname{\$}13,000\times\frac{(1.00225)^{40}-1}{0.0225} \\ FV=\operatorname{\$}13,000\times\frac{2.435188965-1}{0.0225} \\ FV=\operatorname{\$}13,000\cdot63.786176 \end{gathered}$

Calculating:

FV = $829,220

The company will have $829,220 in scholarship funds

b. The interest can be found by subtracting the final value and the initial value. We have to calculate the latter:

$\begin{gathered} A=FV(1+i)^{-n} \\ A=\$829,220(1.0225)^{-40} \\ A=\$340,516 \end{gathered}$

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welcI = $829,220 - $340,516

I = $488,704

The interest is $488,704

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3 years ago

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3 years ago

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Black_prince [1.1K]

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3 years ago

Read 2 more answers

I get $5 every 10 seconds how much would I have in 500 mins​

I get $5 every 10 seconds how much would I have in 500 mins