The answer is <u><em>0.76075</em></u>!
<em>Hope this helps!</em>
3x + y = 3
7x + 2y = 1
First isolate one of the variables (x or y) in one of the equations.
Isolate "y" in the first equation(because it is the easiest to isolate) and substitute it into the second equation.
3x + y = 3 Subtract 3x on both sides
3x - 3x + y = 3 - 3x
y = 3 - 3x
7x + 2y = 1
7x + 2(3 - 3x) = 1 [since y = 3 - 3x, you can substitute (3-3x) for "y"]
Multiply/distribute 2 into (3 - 3x)
7x + (3(2) - 3x(2)) = 1
7x + 6 - 6x = 1
x + 6 = 1 Subtract 6 on both sides
x = -5
Now that you know "x", substitute it into one of the equations (I will do both)
3x + y = 3
3(-5) + y = 3 [since x = -5, you can plug in -5 for "x"]
-15 + y = 3 Add 15 on both sides
y = 18
7x + 2y = 1
7(-5) + 2y = 1
-35 + 2y = 1 Add 35 on both sides
2y = 36 Divide 2 on both sides
y = 18
x = -5, y = 18 or (-5, 18)
It is: you use distribution method to solve the problem.
14m + 42 + 56m
Then you combine like terms:
14m + 56m + 42
Then you add
70m + 42 is your answer
Like this variation of the problem! :)
We calculate the future value of the 6 annual deposits of $1500 at 8%:
F=1500(1.08^6-1)/(0.08)=11003.89
Since the last payment is due on the day of withdrawal, he would have paid $1500 to get back $11003.89, i.e. with an excess of 1003.89.
Therefore his last payment is 1500-1003.89=$496.11
