Answer:
$110.37
Step-by-step explanation:
Assuming the monthly payment is made at the beginning of the month, the formula for the monthly payment P that gives future value A will be ...
... A = P(1+r/12)((1+r/12)^(nt) -1)/(r/12) . . . . n=compoundings/year, t=years
... 14000 = P(1+.11/12)((1+.11/12)^(12·7) -1)/(.11/12)
... 14000 = P(12.11)((1+.11/12)^84 -1)/0.11 ≈ P·126.84714 . . . . fill in the given values
... P = 14000/126.84714 = 110.37 . . . . . divide by the coefficient of P
They should deposit $110.37 at the beginning of each month.
Answer:
im on the same question and i dont know
Combine like terms to simplify an expression. For example, all terms with the variable x can be combined into one term. All constants can also be combined.
1) -4x - 10x = -14x
2) -r - 10r = -11r
3) -2x + 11 +6x = 4x + 11
4) 11r - 12r = -r
5) -v + 12v = 11v
6) -8x - 11x = -19x
7) 4p + 2p = 6p
8) 5n + 11n = 16n
9) n + 4 - 9 - 5n = -4n - 5
10) 12r + 5 + 3r - 5 = 15r (the 5 and -5 cancel each other out)
11) -5 + 9n + 6 = 9n + 1
