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pentagon [3]
3 years ago
14

Tom wants to have $50,000 saved sometime in the future. How much must he deposit every month into an account that pays 1.45% int

erest, compounded monthly to reach the goal in 5 years?
Mathematics
1 answer:
TEA [102]3 years ago
3 0

Answer:

$ 809.78

Step-by-step explanation:

Given that

F = future value = $50,000

Interest rate = r = 1.45% = 0.0145

Number of period per year = 12months

Time expressed in years = 5years

The present value of a periodic deposit

P =( F ×r/n)/{ (1+r/n)^nt} -1

Substituting the values into the above formula

P = (50000× 0.0145/12)/(1+0.0145/12)^12×5}-1

= 50000×0.001208/(1+0.0012)^60}-1

= 60.4/1.0012)^60}-1

60.416/1.074608-1

60.4/0.07460

= $ 809.779

His monthly deposit will be $ 809.78

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Scrat [10]

Answer:

q = 2

Step-by-step explanation:

0.5-0.125q=(q-1)/4

At first, we have to multiply both the sides by 4.

4 × (0.5 - 0.125q) = q - 1

or, 2 - 0.5q = q - 1

now, we change the side by taking constant into the right side and the number into the left side.

2 + 1 = q + 0.5q

or, 3 = q (1 + 0.5)

or, 3 = 1.5 q

or, 1.5 q = 3

or, \frac{1.5q}{1.5} = (3 ÷ 1.5) [Dividing both the sides by 1.5]

or, q = 2

Therefore, q = 2

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3 years ago
Julia is five years older than her sister Babs, and their ages add up to 31. How old is Babs?
Tresset [83]
<span>Julia is X+5

</span><span>x+x+5=31
</span>
Now we just solve the equation 

2x=31-5
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and we know that julia is 5 years older this gives us the conclusion that. 

13+18=31
4 0
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nlexa [21]

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