Answer:
Sqrt 29
Step-by-step explanation:
<span>At simple interest:
10% = 5,000, 000 x 10/100 = 5,000,000 x (1/10) =$500,000
spread over 8 years = 8 x $62,500
monthly interest payment = $62,500/12=$5208.33
Smart decision: has to at least break-even, if not generate more than the total interest repayment. </span>
Answer:
Step-by-step explanation:
This is an Annuity question. It is asking for recurring monthly payment(PMT). <em>You can use a financial calculator to solve it. I am using (Texas Instruments BA II plus)</em>
Since the payments occur monthly , adjust the interest rate to monthly rate and multiply 40 years by 12 since we have 12 months in a year<em>.</em>
Total duration of investment ; N = 40*12 = 480
Interest rate; I/Y = 5.75% /12 = 0.4792%
Future value; FV = 6,000,000
Present value ; PV = 0
then CPT PMT = 3,222.912
Therefore $3,222.91 should be deposited each month to achieve the goal.
Answer:
11/25
Step-by-step explanation:
V=(1/4)³
V=1/16 ft³
volume of 4 cubes= (1/16)·4=4/16= 1/4 ft³