Parents wish to have $130,000 available for a child's education. If the child is now 6 years old, how much money must be set asi
de at 4% compounded semiannually to meet their financial goal when the child is 18?
1 answer:
Answer:
Step-by-step explanation:
We know that:
FV = $130,000
r = 4% (semiannually )
We need to find number of periods (n) , the child is now 6 years old, until the child is 18 is 12 years. But it is the rate is compounded semiannually, so n = 12*2 = 24
We have the fomula to find out periodic payment (see the attached photo)
=> pmt = 3326.288
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Answer:
a) The hot tub can hold 90 cubic feet when completely full.
b) the Hot tub ca hold 667.62 gallons.
c) It will cost approximately $3.34 to fill the hot tub with water.
Step-by-step explanation:
Given:
Length of the tub = 6 feet
Width of the tub = 5 feet
Height of the tub = 3 feet.
a) We need to find how many cubic feet can the hot tub hold if it is completely full.
Now we will find the volume of the tub;
Now Volume of the tub is given by length times width times height.
framing in equation form we get;
Volume of the tub =
Hence The hot tub can hold 90 cubic feet when completely full.
b) Now we need to find how many gallons can it hold.
Given:
1 cubic foot = 7.418 gallons
90 cubic foot = number of gallons hot tub can hold.
By using Unitary method we get;
number of gallons hot tub can hold =
Hence the Hot tub ca hold 667.62 gallons.
c) Now we need to find how much will it cost to fill the hot tub if water costs $5 per 1000 gallons.
Now Given:
1000 gallons = $5
667.62 gallons = Cost to fill the hot tub with water.
By Using Unitary method we get;
Cost to fill the hot tub with water =
Hence It will cost approximately $3.34 to fill the hot tub with water.