X=$7 | 1 Ticket= x | 1 Ticket = $7
5x+2y = 20
For every hardcover book (x) you will be charged 5$.
For every paperback book (y) you will be charged 2$.
The amount of both types of books you buy has to be under or equal to 20$
Answer:
PV= $40,279.36
Step-by-step explanation:
Giving the following information:
Number of periods= 8*12= 96 months
Interest rate= 0.039/12= 0.00325
Future value (PV)= $55,000
<u>To calculate the initial investment, we need to use the following formula:</u>
PV= FV/(1+i)^n
PV= 55,000 / (1.00325^96)
PV= $40,279.36
