Answer:
what is the question?
Step-by-step explanation:
Answer:
-6x-4
Step-by-step explanation:
Answer:
Results are below.
Step-by-step explanation:
Giving the following information:
Monthly deposit= $100
Interest rate= 0.06/12= 0.005
Number of periods= 12*5= 60 months
<u>a)</u>
<u>To calculate the future value, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
FV= {100*[(1.005^60) - 1]} / 0.005
FV= $6,977
b) <u>If the deposit is at the beginning of the month, the interest is compounded one more period</u>. We need to use the following formula:
FV= {A*[(1+i)^n-1]}/i + {[A*(1+i)^n]-A}
FV= 6,977 + {[100*(1.005^60)] - 100}
FV= 6,977 + 35
FV= $7,012
D. people do not have to have a good or service that another person wants
Reason: Money gives people a universal unit of value. For example, If I needed a toothbrush and I have a pair of scissors, In order for me to get a tooth brush is to trade my scissors with someone else who has a tooth brush and wants scissors. As you can see, this isn't practical. If I had money, I will only need to find someone who has a tooth brush.
Answer:
Well you can try to use a calculator, like the one on google. I can try to help if you really need it.
Step-by-step explanation:
