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natita [175]
3 years ago
12

Jennifer wants to take a trip around the world. She plans to deposit $125 at the beginning of each month into an investment with

a 3.75 interest rate, compounded monthly. How much will she have in the account in 8 years?
A. 13, 969.10
B.14, 012.75
C. 110, 885.27
D. 115, 043.47
Mathematics
2 answers:
andre [41]3 years ago
4 0
The formula of the future value of annuity due is
A=p [(1+r/k)^(kn)-1)/(r/k)]×(1+r/k)
A future value of annuity due
P payment 125
R interest rate 0.0375
K compounded monthly 12
N time 8 years
Solve for A
A=125×(((1+0.0375÷12)^(12
×8)−1)÷(0.0375÷12))×(1
+0.0375÷12)
=14,012.75
Helga [31]3 years ago
3 0
The answer to that is 14012.75
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3 years ago
2/4 + 3/9 in Modeling Fractions?
horrorfan [7]

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Step-by-step explanation:

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5 0
2 years ago
Use the multiplier method to decrease £27 by 8%. You must show your working.
Nitella [24]

Answer:

decrease by 2.16

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3 0
2 years ago
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What is 6.34 when the 34 is repeating as a fraction
lana [24]

ANSWER:

6_34/99

STEP:

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Proof:

10x=6.6...

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