Answer:
A is the answer
Step-by-step explanation:
Since he is investing the same amount monthly, we have to apply annuity formula. And it is planned for the future. So that, we'll apply future value annuity formula. The formula is
![FV=A[ \frac{(1+ \frac{r}{s})^{Ns} -1 }{r} ]](https://tex.z-dn.net/?f=FV%3DA%5B%20%5Cfrac%7B%281%2B%20%5Cfrac%7Br%7D%7Bs%7D%29%5E%7BNs%7D%20-1%20%7D%7Br%7D%20%5D)
, where A is the monthly payment, r is the percentage rate, s is 12 (monthly compound) and N is the time, which is 30. Plugging the numbers into the formula, we write that
![FV=155[ \frac{(1+ \frac{0.037}{12} )^{12*30} - 1 }{0.037} ]](https://tex.z-dn.net/?f=FV%3D155%5B%20%5Cfrac%7B%281%2B%20%5Cfrac%7B0.037%7D%7B12%7D%20%29%5E%7B12%2A30%7D%20-%201%20%7D%7B0.037%7D%20%20%5D)
= $8485.450857
That’s the answer ❤️❤️❤️Hope that helps!!!
Compose an equation
2/5x=3/20
Then solve
8/20x=3/20
8x=3
x=3/8
I might be wrong
1=3
2=6
3=8
you put any number into x
2(1)+2=3
2(2)+2=6
and so on