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Degger [83]
4 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]4 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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Simplify y^-3 <br><br> a.3/y<br> b.1/y^3<br> c.-3y<br> d.-1/y^3
nignag [31]

Answer:

b. \frac{1}{y^3}

Step-by-step explanation:

Here we are given  y^{-3} and are asked to simplify it. We are going to apply the law of exponents which says that

a^{-n}=\frac{1}{a^n}

Hence applying this rule in our problem we get, where a=y and n=3

y^{-3}=\frac{1}{y^3}

Hence our C) Option is correct

3 0
3 years ago
its question #2 my son and I cannot figure out how to do this other than dividing. however, when u divide 59 into 422, are you s
anyanavicka [17]
Honestly I can see an argument for 7 shelves or for 8 shelves. 

When you do the calculation; \frac{422}{59}=7.15 You get 7.15 shelves. Clearly you cannot have .15 of a shelf so the logician in me wants to say you need 8 shelves! 

But if the assignment is aimed estimation skills, (Which is what I assume is being implied by the title of the assignment), then the easier calculation of \frac{420}{60}=7 is probably what the teacher was hoping for.

You might have been accidentally been calculating \frac{59}{422} =.139. Remember division is NOT communitive! i.e.1\div2\neq2\div1.

From the image;
The first step was to see that 59 can not go into 4..resulting in the zero above the 4, multiplying 0 by 59 and subtracting 0 from 4. 

The second step begins by bringing down the 2, seeing that 59 can not go into 42..resulting in the zero above the 2, multiplying 0 by 59 and subtracting 0 from 42.

The third step begins by bringing down the 2, seeing that 59 can go into 422 7 times (I tested this on the right by a short multiplication problem)..resulting in the 7 above the 2, multiplying 7 by 59 and subtracting 413 from 42.

This process continues....

8 0
3 years ago
Read 2 more answers
The prime factorization of a number n can be written as n=pr whose p and r are distinct primes. how many factors does n have not
GenaCL600 [577]
It has 3 factors, p, r, and n.
8 0
3 years ago
A quadrilateral has 4 right angles, 2 pairs of sides of equal length,2 pairs of opposite sides that are parallel. The pairs of o
tekilochka [14]
That is describing a rectangle! The only quadrilaterals with 4 right angles are squares and rectangles. Squares have equal sides but rectangles have one pair of parallel sides that is longer than the other. Hope this helps! If you get more than one answer and see it fit to do so, please mark me Brainliest Answer! Thank you!
6 0
4 years ago
How do I find the slope to this equation ?<br> 2х-Зу = 12
evablogger [386]

Answer:

slope = \frac{2}{3}

Step-by-step explanation:

The equation of a line in slope- intercept form is

y = mx + c ( m is the slope and c the y- intercept )

Given

2x - 3y = 12 ( subtract 2x from both sides )

- 3y = - 2x + 12 ( divide all terms by - 3 )

y = \frac{2}{3} x - 4 ← in slope- intercept form

with slope m = \frac{2}{3}

3 0
3 years ago
Read 2 more answers
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