Answer:
Step-by-step explanation:
Jacob and Mark started taking a test at the same time. Jacob finished his test 10 minutes before Mark. Which equation represents
2 answers:
Answer:
j=m-10
Step-by-step explanation:
If j respresentst he time Jacob spent in the test and m the time Mark spent on the test. We can write an expression that shows the amount of Time Jacob spent on the test compare to Jacob:
We know that Jacob finished the test 10 minutes before Mark.
Let j equal the Total time Jacob spent in terms of Marks time is:
Jacob spends m-10 on the test compared to Mark
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Given:
• Amount to save, A = $28,000
,• Time, t = 6 years
,• Interest rate, r = 5.3% ==> 0.053
,• Number of times compounded = quarterly = 4 times
Let's find the amount that must be deposited into the account quarterly.
Apply the formula:
Where:
FV is the future value = $28,000
r = 0.053
n = 4
t = 6 years
Thus, we have:
Let's solve for P.
We have:
Solving further:
Divide both sides by 28.0384237:
Therefore, the amount that must be deposited quarterly into the account is $998.60
ANSWER:
$998.60