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
anzhelika [568]
3 years ago
6

In your budget, you plan on putting a $3000 deposit on a car in 4 years. You currently have some extra money that you could put

into a savings account. If that savings account earns you 4% interest, compounded monthly, how much would you need to deposit today to have $2000 in 4 years?
Please show me proper work and give a good explanation on how you got your answer.
Mathematics
1 answer:
Elodia [21]3 years ago
6 0

Answer:

1704.74 = P

Step-by-step explanation:

The formula for compound interest is

A = P(1+r/n) ^nt  where

A is the amount in the account

P is the principle

r is the interest rate

n is the number of times the interest is compounded per year

t is the time in years

2000 = P (1+.04/12)^12*4

2000 = P (1.003333333)^48

Divide each side by (1.003333333)^48

2000/  (1.003333333)^48= P (1.003333333)^48/ (1.003333333)^48

1704.74110 = P

Rounding to the nearest cent

1704.74 = P

You might be interested in
A dress shop bought material for £4.65 a metre and sold it for £6.90 a metre. How much
stepladder [879]

Answer:

  £67.50

Step-by-step explanation:

On each metre of material, the shop makes a profit of ...

  £6.90 -4.65 = £2.25

So, for 30 metres, the profit will total ...

  30 × £2.25 = £67.50

A profit of £67.50 would be made on a 30-metre roll of material.

8 0
3 years ago
8 classmates share 4 pizzas each person receive 4 eights right<br> ...?
Jet001 [13]
For the given question above, if you divide the 4 pizzas up between the 8 people you get the fraction 4/8. So this is TRUE.
<span>You then reduce the fraction by a common factor (in this case 2), giving you 1/2. </span><span>So each person gets 1/2 of a pizza. </span>
6 0
3 years ago
Consider the following table. Is the relationship proportional? Explain your answer.
SpyIntel [72]

Answer:

No

Step-by-step explanation:

a proportional relationship must have a constant ratio to another quantity.

have a nice day and mark me brainliest! :)

8 0
3 years ago
Read 2 more answers
I don't know how to work this out
Serhud [2]
Hope that helped I use this when I'm doing math. It's called cymath it explain how they got the answer.

8 0
3 years ago
PLEEEEEAAAASEEE HELPPPPPP<br><br> simplify the polynomial <br> 3a(6a^2-4ab^2)+8a^2b^2-2b^3
ZanzabumX [31]

Answer:

Simplified: -4a²b²+18a³-2b³

3a(6a²-4ab²)+8a²b²-2b³

Multiply 3a by 6a² and-4ab²

18a³-12a²b²+8a²b²-2b³

combine like terms (-12a²b² and 8a²b²)

-4a²b²+18a³-2b³

Hope this helps

7 0
2 years ago
Other questions:
  • Find the sum of 89,24,17
    14·1 answer
  • Kevin and Randy Muise have a jar containing 92 coins, all of which are either quarters or nickels. The total value of the coins
    12·1 answer
  • An isosceles triangle has its vertex at the origin and its base parallel to the x-axis with the vertices above the axis on the c
    6·1 answer
  • Hassan predicted that he would sell 178 postcards. He actually sold 142 postcards. What are the values of a and b in the table b
    12·1 answer
  • What is 6285 divided by 89?
    15·2 answers
  • Suppose that many large samples were taken from population A, which is normally distributed, and population c, which is not norm
    15·2 answers
  • What is the slope-intercept equation of the line whose y-intercept is<br> 8 with slope -5?
    9·1 answer
  • Find the area of each figure. Pls, this is urgent, I will award brainliest.
    12·1 answer
  • Does anyone know the answer to this ?
    8·2 answers
  • solve each linear-quadratic system graphically. if necessary, round to the nearest integer. please show work
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!