Jaime's refrigerator loan statement said that he would pay $1,026 as interest after 4 years at an interest rate of 13.5%. How mu
1 answer:
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Answer:
The price is x = $2.779
Step-by-step explanation:
From the question we are told that
The revenue is
The cost of production is
Generally at break even point the cost of production is equal to the revenue
So
=>
Using the quadratic formula to solve this equation we have that
x = $2.779
Answer:
The expression to compute the amount in the investment account after 14 years is: <em>FV</em> = [5000 ×(1.10)¹⁴] + [3000 ×(1.10)⁸].
Step-by-step explanation:
The formula to compute the future value is:
PV = Present value
r = interest rate
n = number of periods.
It is provided that $5,000 were deposited now and $3,000 deposited after 6 years at 10% compound interest. The amount of time the money is invested for is 14 years.
The expression to compute the amount in the investment account after 14 years is,
The future value is:
Thus, the expression to compute the amount in the investment account after 14 years is: <em>FV</em> = [5000 ×(1.10)¹⁴] + [3000 ×(1.10)⁸].