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Find the savings plan balance after 3 years with an APR of 7% and monthly payments of $150.

Citrus2011 [14]

Answer:

The balance is $5989.5

Step-by-step explanation:

The savings plan balance is given by the following formula:

$A = P*\left[\frac{(1 + \frac{APR}{n})^{n*Y} - 1}{\frac{APR}{n}}\right]$

In which A is the savings plan balance, P is the monthly payment, APR is the annual percentage rate(decimal), n is the number of payments per year and Y is the number of years.

In this problem, we have that

Find the savings plan balance after 3 years with an APR of 7% and monthly payments of $150.

So we have to find A when $P = 150, APR = 0.07, n = 12, Y = 3$ .

So

$A = P*\left[\frac{(1 + \frac{APR}{n})^{n*Y} - 1}{\frac{APR}{n}}\right]$

$A = 150*\left[\frac{(1 + \frac{0.07}{12})^{12*3} - 1}{\frac{0.07}{12}}\right]$

$A = 5989.5$

The balance is $5989.5

3 0

3 years ago

Is 7,849 a reasonable number for 49x49

AleksAgata [21]

Well 49x49= 2,401 so not really

5 0

4 years ago

The cost of 4 cartons of fresh cream is $7.96. What is the cost of 14 cartons WHOEVER ANSWERS FIRST IS BRAINLIEST

podryga [215]

Answer:1.99*14= 27.86 Monies

Step-by-step explanation:

3 0

2 years ago

Giving 100 points for anyone who works the entire page.

xeze [42]

Answer:

It’s not 100 points btw

Step-by-step explanation:

Just do scan and solve

4 0

3 years ago

A system of identifying call letters uses call letters that begin either with E or W. Some have a total of 2 letters, and others

Klio2033 [76]

Answer:

If repetition is allowed then the different call letters possible are 1404.

If repetition is allowed then the different call letters possible are 1250.

Step-by-step explanation:

The call letter are of either 2 letter or 3 letters.

And for them to be identified they should start with either E or W.

If Repetition is allowed:

Consider the call letters with 2 letter:

Possible number of call letters starting with E : E _

The second place can be filled any of the 26 letters.

Possible number of call letters starting with W : W _

The second place can be filled any of the 26 letters.

Consider the call letters with 3 letter:

Possible number of call letters starting with E : E _ _

The second place and third place can be filled with any of the 26 letters.

Possible number of call letters starting with W : W _ _

The second place and third place can be filled with any of the 26 letters.

Total number of possible letters: 26 + 26 + (26)² + (26)² = 1404

Thus, if repetition is allowed then the different call letters possible are 1404.

If Repetition is not allowed:

Consider the call letters with 2 letter:

Possible number of call letters starting with E : E _

The second place can be filled any of the 25 letters.

Possible number of call letters starting with W : W _

The second place can be filled any of the 25 letters.

Consider the call letters with 3 letter:

Possible number of call letters starting with E : E _ _

The second place can be filled with any of the remaining 25 letters and the third can be filled with the remaining 24 letters.

Possible number of call letters starting with W : W _ _

The second place can be filled with any of the remaining 25 letters and the third can be filled with the remaining 24 letters.

Total number of possible letters: 25 + 25+ (25 × 24) + (26 × 24) = 1250

Thus, if repetition is allowed then the different call letters possible are 1250.

5 0

3 years ago