Answer:
- value: $66,184.15
- interest: $6,184.15
Step-by-step explanation:
The future value can be computed using the formula for an annuity due. It can also be found using any of a variety of calculators, apps, or spreadsheets.
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<h3>formula</h3>
The formula for the value of an annuity due with payment P, interest rate r, compounded n times per year for t years is ...
FV = P(1 +r/n)((1 +r/n)^(nt) -1)/(r/n)
FV = 5000(1 +0.06/4)((1 +0.06/4)^(4·3) -1)/(0.06/4) ≈ 66,184.148
FV ≈ 66,184.15
<h3>calculator</h3>
The attached calculator screenshot shows the same result. The calculator needs to have the begin/end flag set to "begin" for the annuity due calculation.
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<h3>a) </h3>
The future value of the annuity due is $66,184.15.
<h3>b)</h3>
The total interest earned is the difference between the total of deposits and the future value:
$66,184.15 -(12)(5000) = 6,184.15
A total of $6,184.15 in interest was earned by the annuity.
Answer:
(a, 0)
Step-by-step explanation:
As S is on the x-axis, its y-coordinate will be zero.
And since this is a right trapezoid, ∠QPS and ∠PSR are right angles, so S and R will have the same x-coordinate, which is a.
Therefore, the coordinate of Point S is (a, 0)
Answer:
Equation to be solved: 2+3x=15.5
The solution we want is: 4.5 million
The solution for p is: p=4.5
Step-by-step explanation:
The problem says:
15.5 million is 2 million more than 3 times the population in 1950.
We can write this as an equation like this:
15.5 million = 2 million + 3(x million).
Each term contains the factor of million so if we divide both sides by a million the equation can actually be written as:
15.5 =2 + 3(x)
15.5 =2 + 3x
So the equation we need to solve is:
15.5=2+3x
We want to isolate 3x. To do this we need to subtract 2 on both sides:
15.5=2+3x
-2 -2
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13.5= 3x
Divide both sides by 3:
13.5/3 = 3x/3
Simplifying both sides gives:
4.5=x
So 4.5 million is the population in 1950's.
Answer:
Step-by-step explanation:
Bx+Hy=M
Bx=M-Hy