Answer:
Results are below.
Step-by-step explanation:
Giving the following information:
Monthly deposit= $100
Interest rate= 0.06/12= 0.005
Number of periods= 12*5= 60 months
<u>a)</u>
<u>To calculate the future value, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
FV= {100*[(1.005^60) - 1]} / 0.005
FV= $6,977
b) <u>If the deposit is at the beginning of the month, the interest is compounded one more period</u>. We need to use the following formula:
FV= {A*[(1+i)^n-1]}/i + {[A*(1+i)^n]-A}
FV= 6,977 + {[100*(1.005^60)] - 100}
FV= 6,977 + 35
FV= $7,012
Answer:
20 meters
Step-by-step explanation:
The track is circular so it means that after Patrick raced the entire track he is back at the starting point. In other words, every 440 meters he is back to the beginning.
So we would have that, if he races round the track twice, he would run 440(2) = 880 meters and he would be back at the starting point.
The problem asks us how far is he from the starting point at the 900 meter mark. If at 880 meters he is at the starting point, then at 900 meters he would be
meters from the starting point.
Answer:
16/15
Step-by-step explanation:
Answer:
add up c
Step-by-step explanation:
Answer:
6
−
30
x
, 8
−
4
x
Step-by-step explanation:
hopefully this helps