Answer:
The first coin will be worth $137.16 more than the second coin.
Step-by-step explanation:
Interest formula = i = prt
For coin #1:
p = 1270
r = 0.061
t = 18
i = (1270)(0.061)(18)
The first coin will be worth $2664.46 after 18 years.
For coin #2:
p = 1270
r = 0.055
t = 18
i = (1270)(0.055)(18)
The second coin will be worth $2527.30 after 18 years.
Subtract the value of coin #2 from coin #1.
2664.46 - 2527.30 = 137.16
In conclusion, the first coin will be worth $137.16 more than the second coin after 18 years.
Answer:
3
Step-by-step explanation:
y=-1/3x-6, for this line, the slope (m) is -1/3.
This is because the equation is in the slope intercept form: y = mx + b.
The perpendicular line to one with m = -1/3, is the negative reciprocal of m, we'll call it m2.
m2 = --3/1 = +3/1 = 3
Answer:
$557.51
Step-by-step explanation:
A financial calculator tells you the payments are ...
on $80,000 at 4.75%: $417.32
on $20,000 at 7.525%: $140.19
Then the total monthly payment is ...
$417.32 +140.19 = $557.51
_____
You can use the amortization formula to find the payment (A) on principal P at interest rate r for t years to be ...
A = P(r/12)/(1 -(1+r/12)^(-12t))
I find it takes fewer keystrokes to enter the numbers into a financial calculator. Both give the same result.
If it was one quarter of the price, you multiply 1000 by 0.25 (1/4) to get 250 a month.
Answer:x=1 /5
Step-by-step explanation:
