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Andreas93 [3]
3 years ago
11

Present Value Hoew much shuold be deposited in an account paying 7.8% interest compounded monthly in order to have a balance of

$21,000 after 4 years?
Mathematics
1 answer:
Alisiya [41]3 years ago
6 0

Answer: $15385 should be deposited.

Step-by-step explanation:

The principal was compounded monthly. This means that it was compounded 12 times in a year. So

n = 12

The rate at which the principal was compounded is 7.8%. So

r = 7.8/100 = 0.078

It was compounded for 4 years. Therefore,

t = 4

The formula for compound interest is

A = P(1+r/n)^nt

A = total amount in the account at the end of t years. The total amount is given as $21000. Therefore

21000 = P (1+0.078/12)^12×4

21000 = P (1+0.078/12)^48

21000 = P (1+0.0065)^48

21000 = P (1.0065)^48

P = 21000/1.365

P = $15385

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In a computer instant messaging​ survey, respondents were asked to choose the most fun way to​ flirt, and it found that ​P(D) =0
ikadub [295]

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P(Dᶜ )=0.41

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5 0
3 years ago
A circle with radius 16 centimeters is inscribed in a square.Which is the area of the shaded region? A. 804.25 square feet B. 10
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<u><em>Answer:</em></u>

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<u><em>Explanation:</em></u>

The diagram associated with this question is shown in the attached image

Unit in diagram is ft, so I'll use this unit in the answer

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<u>This means that:</u>

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Area of a square is the square of its side length

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5 0
3 years ago
Question 1
nevsk [136]

Answer:  " n = - 4 " .
<u>__________</u>

<u>Step-by-step explanation</u>:

<u>Given</u>:
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Subtract "8" from each side of the equation:

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to get:
 -n = 4 ;

Which is the same as:
 -1n = 4 ;

Divide each side of the equation by "-1" ; to isolate "n" on one side of the equation; and to solve for "n" :

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 to get:
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_______________

Now, let's check our answer:
_______________
→
by plugging in our value obtained for "n" ; which is " - 4 " ;
_______________
-(-4)  +  8 ≟  12 ?? ;
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From the "left-hand sign" of the equation:
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 " - (-4) = ⁺ 4 " ;  
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<u>Note</u>:  The opposite of negative value; or the negative of a negative value; is equal to that very positive value.
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⇒ " 4  +  8  ≟  12 ? ;

⇒ " 12  ≟  12 ? ;   Yes!

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Hope this helps!  Best wishes!
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