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seropon [69]
3 years ago
10

A person is planning to open a savings account with the intent to buy a house in 5 years. They will invest an equal amount each

month for 5 years. This account will earn 6% per year(.5% per month)and will have $300,000 at the end of 5 year term. What is the amount of the monthly investment?
A. 4169

B. 4435

C. 4300

D. 5296
Business
1 answer:
lisov135 [29]3 years ago
3 0

Answer:

The correct answer is C: $4300

Explanation:

Giving the following information:

They will invest an equal amount each month for 5 years.

This account will earn 6% per year(0.5% per month)and will have $300,000 at the end of the 5-year term

We need to use the following formula:

final value= {A[(1+i)^n-1]}/r

A= cuota

i= monthly interest

n= 60 months

Isolating A:

A= (FV*i)/[(1+i)^n-1]

A= (300000*0.005)/[(1.005^60)-1]

A= 1500/0.34885= 4300

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A student has 4 mangos, 2 papayas, and 3 kiwi fruits. if the student eats one piece of fruit each day, and only the type of frui
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There are 210 ways that he can consume fruits. This can determined using the concept of factorial in mathematics.

Factorial, in mathematics, the product of all positive int or numbers less than or equal to a given positive int or number and denoted by that integer and an interjection point. therefore, factorial seven is written seven!, meaning one × 2 × 3 × 4 × 5 × six × seven.

Factorial zero is defined as equal to one.

Here, we have given the student has three mangoes, two papayas and two kiwi fruits.

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