4 years ago

Please help mee to figure out who is right

Mathematics

1 answer:

lina2011 [118]4 years ago

7 0

Let me see if I am correct I will get back to u

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Jim Tree will drive from his home in Jackson Heights to Jones City. The distance on the map measures 3 1/2 inches. The scale on

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You want $5000 4 years from nowfor a down payment for a car. How much money must be deposited monetly into an account earning 4.

timama [110]

Answer:

$95.5090 must be deposited monthly

Step-by-step explanation:

From the information given:

The annual interest rate (r) = 4.2% = 0.042

Let assume that an amount Y is deposited, then after one month, it will increase to:

$Y ( 1+ \dfrac{0.042}{12})$

The total amount after 4 years will be:

$= Y ( 1+ \dfrac{0.042}{12})^{48}+Y ( 1+ \dfrac{0.042}{12})^{47} +Y ( 1+ \dfrac{0.042}{12})^{46} +...+ Y ( 1+ \dfrac{0.042}{12})$

$= Y ( 1.0035)^{48}+Y ( 1.0035)^{47} +Y( 1.0035)^{46} +...+ Y( 1.0035)$

Using the sum of a geometric progression:

$= Y (1.0035) \dfrac{ (1.0035^{48}-1)}{(1.0035-1)}$

$= Y (1.0035) \dfrac{ (1.0035^{48}-1)}{0.0035}$

The above amount is then equal to $5000

i.e

$= Y (1.0035) \dfrac{ (1.0035^{48}-1)}{0.0035} = 5000$

$Y = \dfrac{5000\times 0.0035}{(1.0035)(1.0035^{48}-1)} \\ \\ \mathbf{Y = \$95.5090}$

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3 years ago

What number is ten thousand less than 842719

almond37 [142]

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3 years ago