The balance after one year if you deposit one $50 envelope each month, all year is $613.95.
<h3>What is the balance after one year?</h3>
The balance after 1 year can be determined using this formula:
Amount deposited monthly x annuity factor
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- r = interest rate = 5% /12 = 0.417%
- n = number of years = 1 x 12 = 12
Annuity factor = 1.004167^12 - 1 / 0.00417 = 12.279082
Balance = 12.279082 x 50 = $613.95
To learn more about annuities, please check: brainly.com/question/24108530
Answer: I don't Know
Step-by-step explanation: Thanks for the point tho :)
Answer:
f(x)=-3x+4
Step-by-step explanation:
just took the test
answer:
y = 10 - x²
step-by-step explanation:
the y value is means the y value is equal to meaning the first part of our equation is y =
10 decreased means 10 minus so the next part of our equation is y = 10 -
the square of the x value means x squared so the last part of our equation is y = 10 - x²
It would be 3:00 pm in Boston
