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dem82 [27]
4 years ago
5

You have researched your dream around-the-world vacation and determined that the total cost of the vacation will be $39,000. You

feel you can earn an APR of 10.5 percent compounded monthly and plan to save $485 per month until you reach your goal. How many years will it be until you reach your goal and enjoy your well-deserved vacation?
Mathematics
1 answer:
wel4 years ago
5 0

Answer:

41.8 years

Step-by-step explanation:

From

A = P(1+r/n)^{nt}

A= 39000

r = 10.5%

P = $ 485

n=12

t = the unknown

t= [ ln(A) - ln(P) ] / n[ln(1 + r/n)]

t= ln 39000 - ln 485/ 12[ln(1+0.105/12)]

t= 10.57 - 6.18/0.105

t= 41.8 years

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8 0
3 years ago
Read 2 more answers
Which of shakina's statements regarding acceleration and velocity is false? "when the acceleration is negative, the velocity can
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Let's start by imagining a rock being thrown to the air.
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The acceleration is pointing down (because of gravity) so it's always negative. While the rock is going up, it's velocity/speed is positive, but the acceleration is negative.
While the rock is going down, both acceleration and speed are negative.
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7 0
3 years ago
Solve for x. 7 + 11x + 60 = -13 + 3x
Snowcat [4.5K]

Answer:

x = -10

Step-by-step explanation:

Step 1: Write equation

7 + 11x + 60 = -13 + 3x

Step 2: Solve for <em>x</em>

  1. Combine like terms: 11x + 67 = -13 + 3x
  2. Subtract 3x on both sides: 8x + 67 = -13
  3. Subtract 67 on both sides: 8x = -80
  4. Divide both sides by 8: x = -10

Step 3: Check

<em>Plug in x to verify it's a solution.</em>

7 + 11(-10) + 60 = -13 + 3(-10)

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3 years ago
Adam and Brianna plan to install a new tile floor in a classroom. Adam works at a constant rate of 50 tiles per hour, and Briann
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Answer:

t≅13.33h

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Adam (A) works at constant rate of 50tiles/h

Briana (B) works at constant rate of 55tiles/h, this means that A=50 tiles per hour and B=55 tiles per hour, then A+B = 105tiles/h together, but the floor consists of 1400tiles, so if 105 tiles are installed in one hour, then 1400 tiles in how long they will be installed?

t = 1400tiles*h/105tiles≅ 13.33 h

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Jackson has a credit card with a balance of $6,999. What will his minimum payment be if it is 3.5% of the balance?
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Answer:

244.965

Step-by-step explanation:

it is what it is

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