Using the digits 2,6,3, and 4, write the greatest 4-digit number and the least 4-digit number. Use each digit once.
1 answer:
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Since he is investing the same amount monthly, we have to apply annuity formula. And it is planned for the future. So that, we'll apply future value annuity formula. The formula is ![FV=A[ \frac{(1+ \frac{r}{s})^{Ns} -1 }{r} ]](https://tex.z-dn.net/?f=FV%3DA%5B%20%5Cfrac%7B%281%2B%20%5Cfrac%7Br%7D%7Bs%7D%29%5E%7BNs%7D%20-1%20%7D%7Br%7D%20%5D)
, where A is the monthly payment, r is the percentage rate, s is 12 (monthly compound) and N is the time, which is 30. Plugging the numbers into the formula, we write that ![FV=155[ \frac{(1+ \frac{0.037}{12} )^{12*30} - 1 }{0.037} ]](https://tex.z-dn.net/?f=FV%3D155%5B%20%5Cfrac%7B%281%2B%20%5Cfrac%7B0.037%7D%7B12%7D%20%29%5E%7B12%2A30%7D%20-%201%20%7D%7B0.037%7D%20%20%5D)
= $8485.450857
Answer:
The answer is about 1.732, the exact form being .
Step-by-step explanation:
The square root of 12 is 3.4641. You then divide this by 2 and you get approximately 1.732. This in the exact form is .