12. Ronnie Cox just inherited $27,000. How much of this money should he set aside today to have $17,000 to pay cash for a Ventur
1 answer:
Answer:
Amount to be kept separately for having $17,000 at year end = $16,715.83
Step-by-step explanation:
As it is provided, that annual return = 1.7% compounded annually.
We need to calculate the amount to be invested today, to get a total of $17,000 at year end.
Since the interest is compounded annually, it is a simple interest if the term is of 1 year.
Therefore,
Investment + Investment 1.7% = $17,000
Investment + 0.017 Investment = $17,000
1.017 Investment = $17,000
Investment =
Therefore, Investment today = $16,715.83
You might be interested in
Answer:
The third picture
Step-by-step explanation:
Solve for x in both equations
2x<6
Divide both sides by 2:
x<3
3x+2>-4
Subtract 2 from both sides:
3x>-6
Divide both sides by 3:
x>-2
There is this trick you can use when x is on the left side of the equation to find out which way to shade in you graph. Keep in mind this is only for the left side, it will not work if your variable is on the right.
When the symbol is facing left < then shade left, imagine it is pointing which way to shade. x<3 is represented by the 3 picture on the left. When the symbol is facing right > then shade right, again it is pointing which way to shade. x>-2 is represented by the 3 picture on the right.
The circles are not filled in because the symbol is < and > rather than . When it is greater than or equal to or less than and equal to (represented by the line under the symbol), then the circle is shaded in.