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Degger [83]
3 years ago
5

Suppose you want to accumulate $25,000 as down payment on a house and the best you can do is to put aside $200 a month. If you d

eposit this amount at the beginning of each month in an account that credits 0.75% interest monthly, how long will it take you to attain your goal?
Mathematics
1 answer:
Sunny_sXe [5.5K]3 years ago
7 0

Answer:

It will take 88.2 months to accumulate the amount

Step-by-step explanation:

Given;

Future value of money, FV = $25,000

investment per compound period, P = $200

interest rate, i = 0.75% x 12 = 9%

The number of monthly installments required to amount to FV is given by;

n = \frac{ln(FVi +cp)-ln(cp)}{ln(c+i)-ln(c)}\\\\ n = \frac{ln(25000*0.09 +200*12)-ln(200*12)}{ln(12+0.09)-ln(12)}\\\\n = \frac{8.4446 -7.7832}{2.4924-2.4849}\\\\n = 88.2 \ months

Therefore, it will take 88.2 months to accumulate the amount.

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Part 2: Solve the following word problem. Show all work to receive full credit..
lys-0071 [83]

The numerical representation and final elevation of the fish relative to sea level are :

  • Final position = -13.52 + 7.8
  • Final position = - 5.72

<u>Given the Parameters</u> :

Initial depth of fish = - 13.52

Change in elevation of fish = 7.8 feets

Positions below sea level are represented as negative values (-) ;

Hence, initial position of fish = - 13.52

Change in position = Rise in depth of 7.8 feets

<u>The numerical representation of the final position of the </u><u>fish</u><u> </u><u>can</u><u> </u><u>be</u><u> written thus</u> :

  • Final position = Initial position + change in position

  • Final position = - 13.52 + 7.8

Hence, the final position of the fish will be :

  • Final position of fish = -13.52 + 7.8 = - 5.72

Learn more : brainly.com/question/18109354

6 0
2 years ago
Read 2 more answers
−7=y7 please help me out
Yuri [45]

Answer:

Step-by-step explanation:

y=-1

7 0
2 years ago
Read 2 more answers
Rearrange the formula, a=1/2bh , to solve for b in terms of A and h.
Kryger [21]
Multiply both sides by 2 to cancel out the 1/2 and you get 2a=bh then divide both sides by h to isolate b and you get (2a)/h=b
7 0
2 years ago
Please answer this correctly
Aleks04 [339]

To get the volume, you need the area of the sides of the square.

The total surface area is 96, with 6 sides. To get the surface area of just one side, divide 96 by 6, which gets you 16. The surface area of a single square is 16. To get one side of the square, divide that by 4 because there are 4 sides.

Now, multiply 16 by 4 to get the volume.

The volume is 64 cubed milllimeters.

brainlieest?

Also i hope this helped

6 0
3 years ago
If the cost of a 2.5 meter cloth is $30.5. What will be the cost of 22 meters ?
alisha [4.7K]

Answer:

268.40

Step-by-step explanation:

We can write a ratio to solve

2.5 meters        22 meters

-----------------  = --------------

30.5 dollars       x dollars

Using cross products

2.5 * x = 30.5 * 22

2.5x =671

Divide each side by 2.5

2.5x / 2.5 = 671/2.5

x =268.4

8 0
2 years ago
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