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Ugo [173]
3 years ago
12

Your goal is to create a college fund for your child. Suppose you find a fund that offers an APR of 7 %. How much should you dep

osit monthly to accumulate ​$88 in 18 ​years? You should invest​$ nothing each month.
Mathematics
1 answer:
Yanka [14]3 years ago
5 0

Answer:

You shoud invest $0.204, it is an small amount each month.

The formula to calculate the monthly saving is

PP= \frac{A(APR/n)}{(1+(APR/n))^{nY}-1}

with PP: periodic payments, A: amount desired, n: number of payments in one year, Y: number of years.

In this case A = 88, n= 12 (the payments are monthly), Y=18, APR=7%.

Replacing in the formula you obtain that PP \approx 0.204

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3 years ago
33 124:2 + 123 - 104 x<br>[624 : 2 + (1,3 025 - 1 375):5:5] + (5 040 - 1350): 3 =<br>COMEX<br>e​
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3 years ago
Look at this system of equations.<br> 2x +5 =9.5<br> 3x + 5y =10.5<br> What is the value of x+y
stiv31 [10]

Answer:

x = 2.25 y = 0.75

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x = 4.5 ÷ 2

x = 2.25

know we now what is x so in the second one we evaluate x

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that's it !

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3 years ago
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