Answer:
$110.37
Step-by-step explanation:
Assuming the monthly payment is made at the beginning of the month, the formula for the monthly payment P that gives future value A will be ...
... A = P(1+r/12)((1+r/12)^(nt) -1)/(r/12) . . . . n=compoundings/year, t=years
... 14000 = P(1+.11/12)((1+.11/12)^(12·7) -1)/(.11/12)
... 14000 = P(12.11)((1+.11/12)^84 -1)/0.11 ≈ P·126.84714 . . . . fill in the given values
... P = 14000/126.84714 = 110.37 . . . . . divide by the coefficient of P
They should deposit $110.37 at the beginning of each month.
F(4)=4(4)+5
Which equals
F(4)=21
Answer:
The interest rate for the given investment is 18%.
Step-by-step explanation:
We are given that,
The function representing the investment model is,
.
It is required to find the interest rate for the investment.
Since, the function can be re-written as,

i.e. 
So, on comparing with the formula for compound interest i.e.
, where 'r' is the interest rate.
We have that,
The interest rate for the given investment is 0.18 i.e. 18%.
Answer:
Step-by-step explanation:

Multiplication by 10ⁿ → move decimal n places to the right.
Multiplication by 10⁻ⁿ → move decimal n places to the left.
For n ∈ N