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motikmotik
3 years ago
11

Your mother has asked for your help. She would like to save up $30,000 to take your family on a trip in 3 years. She wants to ma

ke monthly deposits into an account that she thinks will pay 6%. How much must she invest each month to reach her goal
Mathematics
2 answers:
Damm [24]3 years ago
6 0

Answer:

The answer to the question is

She must invest $251.85 each month to reach her goal

Step-by-step explanation:

Future value of an annuity is the amount a given stream of cash flows will be worth after a specified period. The future value represents the cumulative accumulation of payments made or borrowed and their respective interest made or interest charged.

The future value is given by

FV = PMT\frac{(1+r)^{n}-1 }{r}

Where

FV = Future value =$30,000

PMT = Payment =

r = Interest rate for a given period = 6 % monthly

n = Number of periods of payments = 3 years or 36 months

Therefore we have

30000=PMT\frac{(1+0.06)^{36} -1}{(0.06)}  = PMT×119.12

Therefore PMT = 30000÷119.12 = $251.85

Therefore She would have to save $251.85 monthly to make up $30,000 in three years

Aleonysh [2.5K]3 years ago
5 0

Answer:

$50 per month

Step-by-step explanation:

Given

Total amount needed=$30,000

Deposits 3 years= 36 months

6% of the total amount

=6/100×$30,000

= 0.06×$30,000

=$1,800

She wants to make deposits if $1,800 over a period of 36 months

=$1,800/36

=$50 per month

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Step-by-step explanation:

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Kersha has two jobs. During the day she works as an office clerk, and in the evening she works as a cashier. Her office job pays
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3 0
3 years ago
State the degree and leading coefficient of each polynomial in one variable.if it is not a polynomial in one variable explain wh
valina [46]

Answer:

  2. degree 3; leading coefficient 8

  4. degree 6; leading coefficient 7

  6. not a polynomial

Step-by-step explanation:

The "leading coefficient" is the coefficient of the highest-degree term in the sum of terms that makes up a polynomial.

These expressions all have one variable, so the number of variables in not an issue in any case. All of the exponents are positive integers, so that is not an issue in any case. However, the variable appears in the denominator in the expression of problem 6, so that sum is not a polynomial.

__

2. In order to put this into the form we recognize as a polynomial, the expression must be "simplified' by performing the multiplication of the two factors:

 = 8x³ -4x² +6x -3

The leading coefficient is the coefficient of the highest-degree term, which is the product of the highest-degree terms of the factors. That product is ...

  (2x)(4x²) = 8x³

so the leading coefficient is 8. The variable is to the 3rd power, so the degree is 3.

You don't actually have to do the rest of the multiplication in order to find the required answer.

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4. The expression is already written as a sum, so we only need to find the term of highest degree. That is the last one: 7y^6. Its degree is 6 and its leading coefficient is 7.

__

6. Variables are not allowed in the denominator of a polynomial. This expression is not a polynomial.

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<em>Comment on degree</em>

The degree of a term is the exponent of the variable. If there is more than one variable, the degree of the term is the sum of their exponents. For example, the polynomial ...

  x² +xy +y²

has three terms, each of degree 2.

If this example were one of your problems, it would be rejected as "not a polynomial in one variable," since two variables are involved.

7 0
3 years ago
Ava invested $470 in an account in the year 2000, and the value has been growing
algol13

I’m pretty sure $1,800 Because if you subtract 660 by 470 you get 190 and it you multiply 190 by 6 years you get 1140 and if you add 1140 and 660 you get 1,800

6 0
2 years ago
Read 2 more answers
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