Lemme think bout it....no
The correct answer is true:)
Given:
• Amount to save, A = $28,000
,
• Time, t = 6 years
,
• Interest rate, r = 5.3% ==> 0.053
,
• Number of times compounded = quarterly = 4 times
Let's find the amount that must be deposited into the account quarterly.
Apply the formula:
Where:
FV is the future value = $28,000
r = 0.053
n = 4
t = 6 years
Thus, we have:
Let's solve for P.
We have:
Solving further:
Divide both sides by 28.0384237:
Therefore, the amount that must be deposited quarterly into the account is $998.60
ANSWER:
$998.60
<span>We know that OB bisects EC where they intersect would be at point O,
so the two lengths EO and OC must be equal.
2x - 20 = 70 - x
</span>[adding x + 20 to each side]
2x - 20 + x + 20 = 70 - x + x + 20
[simplifying]
<span>3x = 90
</span>[dividing each side by 3]
<span>
x = 30 would be the answer</span>