The answer is 12.
since we also know that jack is 2 times lucy now then the entire formula would be 2x - 6 = 18 to solve we add 6 to both sides 2x - 6 + 6 = 18 + 6 the 6s on the left cancel because when you have a positive and negative of the same number it always = 0 we get 2x = 24 then divide both sides by 2 to get the answer 2x / 2 = 24 / 2 the 2s on the left cancel and you get
Answer:
$110.37
Step-by-step explanation:
Assuming the monthly payment is made at the beginning of the month, the formula for the monthly payment P that gives future value A will be ...
... A = P(1+r/12)((1+r/12)^(nt) -1)/(r/12) . . . . n=compoundings/year, t=years
... 14000 = P(1+.11/12)((1+.11/12)^(12·7) -1)/(.11/12)
... 14000 = P(12.11)((1+.11/12)^84 -1)/0.11 ≈ P·126.84714 . . . . fill in the given values
... P = 14000/126.84714 = 110.37 . . . . . divide by the coefficient of P
They should deposit $110.37 at the beginning of each month.
