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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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statuscvo [17]

Step-by-step explanation:

4x^2-9

=(2x)^2 -3^2

=(2x+3) (2x-3)

Hope this helps you.

3 0
3 years ago
Sasha is filling a rectangular box with ribbon and wants to know the amount of space in the box. A prism has a length of 12 inch
lbvjy [14]

Answer:

82

Step-by-step explanation:

8 0
3 years ago
Read 2 more answers
OK SO HERES THE PROBLEM. MY BRAIN HURTS. PLZZZ help me with this math problem
jeka57 [31]

Oh Foxy, Foxy, how totally debilitated you must be !  Try to relax.  Nobody
enjoys a painful brain, and believe me, this problem is not worth it.

Let me put it to you this way:  What if the problem said . . .

-- Demarcus has $8 more than his sister.
-- His sister has $4.
-- How much money ' M ' does Demarcus have ?

If your brain didn't hurt, you could quickly solve this right in there.
You would know that Demarcus' money ' M ' = 8 + 4 .

That's <em>almost </em>exactly what the problem <em>does</em> say. 
Except it doesn't say he has "$8 more than his sister",
it says he has "at least" that much.
So you know that ' M ' is not exactly = 8 + 4, but that's the <u>least</u> it could be.
The actual amount of ' M ' is <u>more</u> than that.

Surely you can handle it from here, even with half of your brain
tied behind your back.

Take a good hard look at ' A ', and then go lie down.


7 0
3 years ago
On a coordinate plane, a line goes through (0, negative 3) and (3, negative 2). A point is at (negative 4, 2).
bulgar [2K]

Answer:

Correct option: first one -> y = (1/3)x + (10/3)

Step-by-step explanation:

The linear function that represents a line is:

y = ax + b

Where a is the slope and b is the y-intercept.

First we need to find the slope of the line that goes through (0, -3) and (3, -2).

Using both points, we can find the equation of the line:

x = 0 -> y = -3

-3 = a*0 + b

b = -3

x = 3 -> y = -2

-2 = 3a - 3

3a = 1

a = 1/3

The parallel line needs to have the same slope as the line, so we can model the parallel line with the following equation:

y = (1/3)x + b

The parallel line goes through the point (-4, 2), so we have:

x = -4 -> y = 2

2 = (1/3)*(-4) + b

b = 2 + (4/3)

b = 10/3

So the equation of the parallel line is:

y = (1/3)x + (10/3)

Correct option: first one

5 0
3 years ago
Some equations have the form y=kx, where k is a number. Which equation CANNOT be written in the form y=kx?
kumpel [21]

Answer:

Any equation of the form

y = kx + b,

with b different from zero

Step-by-step explanation:

For example

y = 5*x +3

cannot be written in the form

y = k*x, because there is a term that shifts the graph upwards.

5 0
3 years ago
Read 2 more answers
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