Answer:
Atleast $13611.7 at 8% interest rate compounded anually
Explanation:
A=P(1+r/n)^nt
A: Total amout
P: Principal amount or amount to be invested
r: interest rate
n: number of times interest is applied in a time period
t: total time period
Thlema must have atleast $20,000 after 5 years
20000=P×(1+ 0.08/1)^5
P= $ 13611.7
Answer:
Attractiveness and Identification
Explanation:
Answer:
$71,644.27
Explanation:
Future value of the deposit in 19 years = Monthly deposit * [(1 + interest rate/12)^12*No. of years - 1] / (interest rate/12
= $90 * [(1 + 10%/12)^12*19 - 1] / (10%/12)
= $90 * [6.63346333924 - 1] / 0.008333
= $90 * 6.63346333924/0.008333
= $90 * 796.0474
= $71644.269835
= $71,644.27
Answer:
desktop cost $2433.33
laptop cost $2633.33.
Explanation:
Let x = desktop price
let y = laptop price
from the information given in the question, laptop price is 200 more than the desktop price.
which mean, y = x + 200.
R_1 = Rate of interest on desktop.
R_2 = Rate of interest on laptop.
R_1 = 0.05 * x
R_2 = 0.07 * y
The total finance charges for one year is 350.
therefore
R_1 + R_2 = 350
0.05x + .07y = 350.
since y = x + 200,
.05x + .07(x+200) = 306.
.05x + .07x + 14 = 306
0.12X = 292
X = $2433.33
We know that
since y = x + 200,
therefore y = $2633.33.
desktop cost $2433.33
laptop cost $2633.33.