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Answer:
a. −1973700x
b. 0.12
c. 1344
d. −
36.2
Step-by-step explanation:
The amount that will be in the account after 30 years is $188,921.57.
<h3>How much would be in the account after 30 years?</h3>
When an amount is compounded annually, it means that once a year, the amount invested and the interest already accrued increases in value. Compound interest leads to a higher value of deposit when compared with simple interest, where only the amount deposited increases in value once a year.
The formula that can be used to determine the future value of the deposit in 30 years is : annuity factor x yearly deposit
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- r = interest rate
- n = number of years
$2000 x [{(1.07^30) - 1} / 0.07] = $188,921.57
To learn more about calculating the future value of an annuity, please check: brainly.com/question/24108530
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<span>6.89 + t = 8.00</span><span>
t = 8 - 6.89
t = 1.11
tips = $1.11
</span>answer
a.6.89 + t = 8.00
The recursive formula that models the amount owed is
an = a(n-1) -75; a1 = 600.
This formula is for AFTER the first month of payment, this is why the first term is 700-100 = 600. This also means that n > 1.
