Answer: 429.88
Step-by-step explanation:
The first 40 hours is at 9.50
40 *9.50 =380
The remaining hours is at 9.50 * 1.5 or 14.25
43.5 -40 = 3.5
3.5 * 14.25
49.875 = 49.88 ( rounding to the nearest cent)
Add together
380+49.88 =429.88
Answer:
future value = $49163.8
so required amount will be $491200 nearest $100
Step-by-step explanation:
given data
annual interest rate = 6 %
annuity = $300 per month
time period = 10 years
to find out
how much money will they have for the college expenses
solution
we know that effective rate will be
effective rate = 
effective rate = 5 × 
number of payment = 12 × 10 = 120
so future value will be express as
future value = annuity ×
.........1
future value = 300 × 
future value = 300 × 163.8793
future value = $49163.8
so required amount will be $491200 nearest $100
Answer:11
Step-by-step explanation: