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WARRIOR [948]
3 years ago
7

An investment company pays 7​% compounded semiannually. You want to have $24000 in the future. ​ How much should you deposit now

to have that amount 5 years from​ now?
Mathematics
1 answer:
PtichkaEL [24]3 years ago
3 0

Answer: You should deposit about $17014 or little more

Step-by-step explanation:

use the compound interest formula.

A= p( 1 + r/n)^nt

Where A is the amount you will save over some  years .

p is the principal or start up  amount mostly known as the initial fee.

r is the interest rate represent by a decimal so 7% will be 0.07.

n is the number of times the interest is being applied annually. Semiannually means  twice.  So n will be 2.

T is the time the money will elapsed. So in 5 years the money will elapse. Now input the values into the formula and solve for p the principal.

24,000 = p( 1 + 0.07/2)^2*5

24,000= p( 1 + 0.035)^10

24000 = p( 1.035)^10

24000 = p( 1.41059876062)  Divide both sides by 1.41059876062

p = 17104  

Which means you should deposit about $17014 or little more

You might be interested in
CCSS Math 7
Andre45 [30]

Answer:

1.

a = 112

b = 68

c = 68

2.

a = 127

3.

a=35

b=40

c=35

d=70

4.

a= 30

b=70

c = 30

d=70

e = 130

I'll help you with the rest later

Step-by-step explanation:

a = 112 because of allied angles rule

b and c = 68 because of angles at a point

360-112-112 ÷2

2. a = 127 because of angles on a straight line rule.

180-38-15

3. d= 70, vertically opposite angle

using angles on a straight line, 180 - 70 - 40 ÷ 2

we now have the two angles and because they are vertically opposite a and c = 35

b = 40 because of vertically opposite angles

4. a=30 because 90-70

since a=30, take 90 - 30 to get b, 70

d= 70, vertically opposite angles

e = 130 because a+b+c, vertically opposite angles

7 0
2 years ago
What number would you add to the equation below to complete the square?x2 - 11x = 0?
nekit [7.7K]

2x - 11 = 0
2. 2
8 0
3 years ago
Kendra is putting up a new fence around a rectangle or playground that measure 25 feet by 37 feet. If fencing costs 75.00 per fo
34kurt

Answer: She will have $700 left over.

Step-by-step explanation: Since we know that a rectangle has two sides with the measurement, we can add the sides. 37+37+25+25=124. The fencing in 124 feet in total. Multiply the 124 feet by the price per foot. 124 x 75 =9,300. Subtract the price from your total amount of money. 10,000 - 9,300 = $700. She will have $700 left over.

6 0
3 years ago
Need the answer showing work thank you.
fgiga [73]

Answer:

6 without repetition

27 with repetition

Step-by-step explanation:

without repetition, you have 3 digits to choose from initially, then only 2, then only one, i.e.:

3×2×1 = 6

with repetition, you have 3 digits to choose from for every spot:

3×3×3 = 27

4 0
3 years ago
Write the equation of each line in slope intercept form (If possible please show work)
Igoryamba

Answer:

y= -2/3 x - 9

Step-by-step explanation:

The slope intercept form is

y = mx+b where m is the slope and b is the y intercept

y = -2/3 x+b

We have a point to substitute into the equation

-5 = -2/3(-6) +b

-5 = 4 +b

Subtract 4 from each side

-5-4 = 4-4+b

-9 = b

y= -2/3 x - 9

8 0
3 years ago
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