Correct Answer: Option APrincipal Amount = P = $23,400
Interest rate = r = 3% = 0.03
Time = t = 10
Number of compounding periods in a year = n = 2
Compounded amount = A = ?
Formula for compound interest is:
Using the values, we get:
Option A is the closest one, so its the correct answer
Answer:
she can buy 3 with a total of six dollars remaining after she bought the three video games
Step-by-step explanation:
200-134 =66
66 -60=3
By applying the formulas of present and future values of annuity we can solve this problem. In this mortgage problem, first we have to find loan amount after the down payment. It is 699,000 - 699,000 * 0.2 = 559,200$. We have to set it as PV (Present Value) of annuity. Using the PV formula ![PV = A \frac{[1- \frac{1}{(1+r)^{N}}]}{r}](https://tex.z-dn.net/?f=%20PV%20%3D%20A%20%5Cfrac%7B%5B1-%20%5Cfrac%7B1%7D%7B%281%2Br%29%5E%7BN%7D%7D%5D%7D%7Br%7D%20)
, we first find A, which is an annual payment. Exact calculation with mortgage calculator gives us A = 33,866.56$. After finding it, plugging this number into FV (Future Value) formula ![FV = A\frac{[(1+r)^{N}-1]}{r}](https://tex.z-dn.net/?f=%20FV%20%3D%20A%5Cfrac%7B%5B%281%2Br%29%5E%7BN%7D-1%5D%7D%7Br%7D%20%20%20)
, we find the value of the future value and it is 1,185,329.66$. And the total financial charge is 1,185,329.66 - 559,200 = 626,129.66$
Answer:
D
Step-by-step explanation:
this is a "strategic" guess
Answer:
A. Y-68=-5(x-14)
Step-by-step explanation:
Mary is spending money at the average rate of $5 per day. After 14 days she has $68 left. The amount left depends on the number of days that have passed. write an equation for the situation
We find the equation using the point slope equation of a line. This is given as:
y - y1 = m(x-x1)
The slope intercept form will be
y = -5x + b
since the amount decreases by $5 per day...
Our slope is -5 so m=-5
We have a point (x1,y1) = (14, 68)
Hence, we have:
y-68 = -5(x-14)
Option A is correct
