Find the size of each of 66 payments made at the end of each year into a 88% rate sinking fund which produces $36000 at the en
1 answer:
Answer: $7787.99
Step-by-step explanation:
We know that the formula to find the periodic payment on an annuity is given by :-
, where PV is the present value , r is the rate of interest ( in decimal ) and n is the number of payments.
Given : Present value : $36000
Rate of interest = 8%=0.08
Time period = 6 years
Then , the periodic payment will be :-
Hence, the payment size is $7787.99.
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Answer:
25 one-dollar coins, 16 half-dollar coins, and 164 quarters
Step-by-step explanation:
First, set up equations based on the information given:
Then, substitute <em>q</em> in the first equation with the expression from the third equation:
Next, substitute <em>h</em> in that equation with the expression from the second equation:
Solve for <em>d</em>, the number of one-dollar coins:
Substitute 25 for <em>d</em> in the second equation to find <em>h</em>, the number of half-dollar coins:
Substitute 25 for <em>d</em> and 16 for <em>h</em> in the third equation to find <em>q</em>, the number of quarters:
Then, verify that the coins total $74:
Next, verify that the number of half-dollar coins is one more than three-fifths of the number of one-dollar coins:
Finally, verify that the number of quarters is four times the number one-dollar and half-dollar coins together:
Answer:
<h2>x = -8 or x = 2</h2>Step-by-step explanation: