Name 21 and 22 another way.

Mathematics

1 answer:

galben [10]2 years ago

6 0

Answer:

Step-by-step explanation:

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Vitek1552 [10]

To solve this we are going to use the future value of annuity due formula: $FV=(1+ \frac{r}{n} )*P[ \frac{(1+ \frac{r}{n})^{kt}-1 }{ \frac{r}{n} } ]$
where
$FV$ is the future value
$P$ is the periodic deposit
$r$ is the interest rate in decimal form
$n$ is the number of times the interest is compounded per year
$k$ is the number of deposits per year

We know for our problem that $P=420$ and $t=15$ . To convert the interest rate to decimal form, we are going to divide the rate by 100%: $r= \frac{10}{100} =0.1$ . Since Ruben makes the deposits every 6 months, $k=2$ . The interest is compounded semiannually, so 2 times per year; therefore, $k=2$ .
Lets replace the values in our formula:

$FV=(1+ \frac{r}{n} )*P[ \frac{(1+ \frac{r}{n})^{kt}-1 }{ \frac{r}{n} } ]$
$FV=(1+ \frac{0.1}{2} )*420[ \frac{(1+ \frac{0.1}{2})^{(2)(15)}-1 }{ \frac{01}{2} } ]$
$FV=29299.53$

We can conclude that the correct answer is <span>$29,299.53</span>

8 0

3 years ago

Joel can drive his car 450 miles at a steady speed using 15 gallons of gasoline. Making rate table showing the number of miles y

harkovskaia [24]

I hope this helps!! Don’t mind the 20 mph at the top. That was from another problem I was helping someone else on.