1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
VikaD [51]
3 years ago
11

A series of equal quarterly payments of $10,000 for 15 years is equivalent to what future worth amount at an interest rate of 6%

compounded at the given intervals?
Mathematics
1 answer:
kogti [31]3 years ago
6 0

Answer:

  $976,578.71

Step-by-step explanation:

We assume the deposits are made at the <em>beginning</em> of each quarter. The quarterly interest rate is 6%/4 = 1.5%. The number of quarterly payments is 15×4 = 60. The future value of an annuity due is ...

  A = P(1+r)((1+r)^n -1)/r

where r is the quarterly interest rate, n is the number of payments, and P is the payment amount.

  A = $10000(1.015)(1.015^60 -1)/.015 ≈ $976,578.71

The future value is $976,578.71.

You might be interested in
What is minimal completion time for the activities in the graph below? In a complete sentence, explain how you got your answer
kupik [55]
The minimal completion time for the activities is the shortest possible time for all the activities to be finished. In doing this, we look at the path that would require the greatest amount of time. At the START node, we choose the path that would take the longest which is 7 days leading to ACTIVITY D. Next, we choose the path leading to ACTIVITY B which takes 5 days. Then, we move to ACTIVITY C taking 5 days and finally, reach the END which would take 6 days. So, the minimal completion time is:
7 + 5 + 5 + 6 = 23 days
6 0
3 years ago
15% of the parking spaces at a school are reserved. The school has 12 reserved spaces. How many parking spaces are there in tota
Strike441 [17]

Answer: 76

Step-by-step explanation:

well, we know that 15% of the X is 12, so we first use 6 15%, which is 90% 6X12=72. next, we would use 12/3, which is 4. 72+4=76.

3 0
2 years ago
Read 2 more answers
If a plumber charges $80/hr for labor, w, and $60 for parts, write an equation that would describe the scenario of hiring a plum
Nadusha1986 [10]
Can you show the full question?
6 0
3 years ago
Could yall help me PLEASE
klasskru [66]

Answer: 3.6

Step-by-step explanation:

(Not the best at math but I am an above level student)

C= pi x diameter

C= pi x 1.205

C= 3.7

3 0
2 years ago
This is a question in statistics. Please answer with an explanation, thanks!
Liula [17]

Answer:

ewfd

Step-by-step explanation:

ewxd

4 0
3 years ago
Other questions:
  • Please help me! I need help.
    11·1 answer
  • Solve y + (-18) = -12
    8·2 answers
  • What is the answer to X+4x=-2 and show your work
    15·2 answers
  • On the distant planet Cowabunga, the weights of cows have a normal distribution with a mean of 479 pounds and a standard deviati
    14·1 answer
  • There are 20 teachers and 705 students in Corey's school. What is the ratio of teachers to students
    11·2 answers
  • X²+y²-6x+14y-1=0<br> and please show your work so I can learn
    11·1 answer
  • Find the area of this circle. Use 3 for pi
    9·2 answers
  • Mom used 1/2 package of pepperoni putting an equal amount on each of the three pizza she made what fration of the package of pep
    8·1 answer
  • Cody rented a bike from John's Bikes. It
    5·1 answer
  • Find the coordinates that will make this equation true? PLEASE HELP!!!
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!