1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sdas [7]
3 years ago
12

(1 point) In 7 years Harry and Sally would like to have $14000 for a down payment on a house. How much should they deposit each

month into an account paying 11% compounded monthly?
Answer = $____________
Mathematics
1 answer:
den301095 [7]3 years ago
6 0

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.

You might be interested in
Which of the sets of equations represent the two lines graphed?
Oksi-84 [34.3K]

Answer:

B) y = x + 2 and y = -x - 4

Step-by-step explanation:

Let the equation of a straight line with x-intercept 'a' and y-intercept 'b' be

\frac{x}{a}  +  \frac{y}{b}  = 1

The line with positive slope has x-intercept a=-2 and y-intercept b=2.

Its equation is:

\frac{x}{ - 2}  +  \frac{y}{2}  = 1

Multiply through by 2

- x + y = 2

Solve for y,

\boxed {y = x + 2}

For the line with a negative slope,

the x-intercept is a=-4 and the y-intercept is b=-4

Its equation is

\frac{x}{ - 4}  +  \frac{y}{ - 4}  = 1

Multiply through by -4

x + y =  - 4

Solve for y

\boxed {y =  - x - 4}

4 0
3 years ago
PLEASE HELP ASAP PLEASE
Juliette [100K]

Answer: #20, x = 3

              #21,  x = 1/2

Step-by-step explanation:

#20) x + 4 + x + 2+ x + 5  = x + 3 +x+3+x+1+x+1

3x + 11 = 4x + 8

<u>-3x           -3x</u>

      11= x + 8

  <u>   - 8       - 8</u>

     3   =   x

#21)  12x(5) = 6x + 9 + x + 10 + x + 7

         60x =8x + 26

       <u>   -8x    -8x</u>

         52x = 26

 divide both sides by 52

         x = 1/2

3 0
2 years ago
Mandy was flying in a helicopter at an altitude of 500 feet. The helicopter descended 450 feet. What is Mandy's altitude now
Anika [276]
500-450=50. 50 feet altitude.
6 0
3 years ago
Read 2 more answers
Express 56 as a product of its prime factors write prime factors in ascending order
Vadim26 [7]
2,2,2,7.............or
{2}^{3}  \times 7
5 0
3 years ago
Read 2 more answers
What is 2.5 % of 16 ?
kupik [55]
Multiply .025 by 16. You always move the decimal to the left two places to turn a percentile to a decimal.
5 0
3 years ago
Read 2 more answers
Other questions:
  • R(r1+r2)=r1r2 solve for R
    7·2 answers
  • A scalene triangle is a right triangle
    15·1 answer
  • Does anyone know the answer to this problem 8q-3=4q+9
    9·1 answer
  • If cose &lt; 0 and cote &gt; 0, then the terminal point determined by e is in:
    12·1 answer
  • please answer will mark brainalist .the area of a triangle of altitude 15 m is 225 sq.m.whatbis the length of its base please sh
    11·1 answer
  • Simplify 3x2y4 x 2x6y
    12·1 answer
  • I need help this is due in 5 min
    5·2 answers
  • At the Italian deli, the sandwich maker cut 4 2/3 lb of turkey and 9 3/5 of roast beef. How many more pounds of roast beef were
    14·1 answer
  • Eric orders 3 large cheese pizzas. There is a $2 delivery fee for each pizza.He pays a total of $42.Which equation can be used t
    8·1 answer
  • Original price of television is $729 , 18%of the original price , 6% tax applied after discount
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!