Ask question

Ask question

All categories

3 years ago

11

$450 is deposited monthly for 11 years at 5% per year FV=

1 answer:

Ivanshal [37]3 years ago

6 0

1) montly rate, r = 5% / 12 = 0.416% = 0.00416

2) capital, C = $ 450 = present value

3) time = 11 years => number of periods = 11 * 12 = 132

4) Formula: FV = C * (1 + r) ^ (number of periods)

5) Calculation: FV = $450 * ( 1 + 0.00416)^(132) = $ 779.07

Answer: $ 779.07

You might be interested in

Help..................................

butalik [34]

Answer:

c

Step-by-step explanation:

6 0

2 years ago

Read 2 more answers

The cost of a parking permit consists of a one-time administration fee plus a monthly fee. a permit purchased for 12 months cost

julsineya [31]

let

x--------> the monthly fee

y--------> the administration fee

we know that

$660=y+12x$ --------> equation $1$

$810=y+15x$ --------> equation $2$

Multiply by $-1$ equation $1$

$-660=-y-12x$ ------> equation $3$

Adds equation $2$ and equation $3$

$810=y+15x\\-660=-y-12x\\---------\\ 810-660=15x-12x\\ 3x=150\\ x=50\ dollars$

Find the value of y

$660=y+12x\\ 660=y+12*50\\ y=660-600\\ y=60\ dollars$

therefore

the answer is

the administration fee is equal to $60\ dollars$

4 0

2 years ago

Read 2 more answers

Tina uses 50$ gift certificate to buy a pair of pajamas for 17.97, a necklace for 25.49, and 3 pairs of socks that each cost the

Gwar [14]

17.97 + 25.49 + 3x = 50.33
17.97 + 25.49 + 3x - 17.97 - 25.49 = 50.33 - 17.97 - 25.49
3x = 6.87
3x/3 = 6.87/3
x = 2.29 per pair of socks

8 0

3 years ago

Read 2 more answers

A box has 200 socks, 20 are blue and the rest are red. A person draws socks at random from the box, hoping to find a pair of blu

Sonbull [250]

Ummm i don't know what the pmf would be but the probability of grabbing a blue sock would be 10 out of 100...

3 0

2 years ago

Need help finding the side length, thank you! please try and show work or you can

Tasya [4]

Answer: x=16

Step-by-step explanation:

For this problem, we can set a proportion to find the side length of the smaller rectangle.

$\frac{15}{24}=\frac{10}{x}$ [cross multiply]

$15x=240$ [divide both sides by 15]

x=16

8 0

3 years ago