1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Rus_ich [418]
3 years ago
14

Use your TVM Solver to determine the future balance in a mutual fund account (a type of investment account) if you make weekly p

ayments of $50 into an account that pays 2.0% interest compounded monthly. You open the account with $500 and pay into the account for 15 years.

Mathematics
1 answer:
Paladinen [302]3 years ago
5 0

Answer:

  $46,141.71

Step-by-step explanation:

This looks about right, based on weekly deposits for the duration. However, I cannot vouch for it entirely, as the number of weekly deposits in 15 years will actually be 782.

_____

Computing this by hand doing the initial balance separately from the weekly deposits, I get a total of $46,252.10 using 782 weekly deposits. For that purpose, I tried to figure an equivalent weekly interest rate given monthly compounding and the fact there are 52 5/28 weeks in a year on average.

I suspect the only way to get this to the cent would be to build a spreadsheet with payment dates and interest computation/payment dates. Some months, there would be 5 deposits between interest computations; some years there would be 53 deposits.

You might be interested in
Let P(x) be the statement"x= x2", If the domain consists of the integers, what are these truth values? (a) P(0) (b) P(1) (c) P(2
jeka57 [31]

Answer: i guess the problem is with P(x) => "x = x^{2}", then P(x) is true if that equality is true, and is false if the equality is false.

so lets see case for case.

a) x = 0, and 0^{2} = 0. So p(0) is true.

b) x = 1 and 1^{2} = 1, so P(1) is true.

c) x = 2, and 2^{2} = 4, and 2 ≠ 4, then P(2) is false.

d) x= -1 and 1^{2} = 1, and 1 ≠ -1, so P(-1) is false.

6 0
3 years ago
Divide 2.875x10^6by2.3x10^3
DerKrebs [107]

Answer:

1875L = 1.875x10^6 mL

multiply by density to get 2.14x10^6

multiply by percentage to get 6.63x10^4 g of NaCl (66.3 kg)

Step-by-step explanation:

8 0
2 years ago
Read 2 more answers
Can someone please explain to me how to do this
muminat

Step-by-step explanation:

u should:

7t = t + 48 » 7t - t = 48 » 6t = 48 » t = 8

and another one is:

2u + t + 13 = 10t + u - 44» 2u + 8 + 13 = 80 + u - 44»

» 2u + 21 = u + 36 » 2u - u = 36 - 21 » u = 15

8 0
3 years ago
Final question!!!!!!!!!
Novay_Z [31]

Im pretty sure the Correct answer is D

I Could be Wrong Tho.

5 0
3 years ago
Read 2 more answers
Given that θ=<img src="https://tex.z-dn.net/?f=cos%5E%7B-1%7D%20%28%5Cfrac%7B3%7D%7B5%7D%20%29" id="TexFormula1" title="cos^{-1}
GalinKa [24]

What? Can you re-type this?

5 0
3 years ago
Other questions:
  • How do you find the solution
    5·1 answer
  • Help with math question plz. 12th grade
    8·1 answer
  • A certain recipe calls for 2/3 cup of flour. A Chef is making an amount that is 3/5 of the recipe how much flour should chef use
    10·1 answer
  • 25 POINTS + BRAINLIEST IF YOU EXPLAIN ANSWER
    6·2 answers
  • Write the following equation in slope-intercept from y-5=3(x+2)
    9·1 answer
  • 3-3[6-(3-7)]+3(7-4) evaluate the expression
    6·1 answer
  • 4 quarts = how many cups
    11·2 answers
  • You insurance policy on your car costs $600 a year. If you total your vehicle, you insurance company will pay $25,000 towards a
    6·1 answer
  • 7.<br> State the slope of the line.<br><br> A. –2<br><br> B. 0<br><br> C. undefined<br><br> D. 1
    12·2 answers
  • 54=/3<br><br> r= unknown <br><br> WRONG ANSWERS REPORTED<br> RIGHT ANSWERS ARE BRAINLIEST
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!