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worty [1.4K]
2 years ago
12

Aaron currently earns $1,400 per month working. Each year he will get a $150 per month raise. How much money will Aaron earn per

month in 7 years?
Mathematics
2 answers:
Gre4nikov [31]2 years ago
8 0

the correct answer is 10290000

ira [324]2 years ago
3 0

Answer:

130,200

Step-by-step explanation:

Earnings for 7yrs= $1,400 × 12 months × 7yrs

= $117,600

Raise for 7 yrs= $150 × 12 months × 7yrs

=$ 12,600

Earnings in 7yrs= $117,600 + $12,600

= 130,200

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Question 9 of 10 Which of these groups of values plugged into the TVM Solver of a graphing calculator will return the same value
hodyreva [135]

The TVM solver is a tool found in graphing calculators, that solve Time Value of Money problems.

The group of values that will return the same value as the given expression is;

D. N = 24; I% = 3.6; PV =; PMT = -415; FV = 0; P/Y = 12; C/Y = 12; PMT :END

<h3>What is Present Value?</h3>

Present value (PV) formula finds application in finance to calculate the present day value of an amount that is received at a future date.

In the TVM solver, we have;

I = The annual percentage rate

N = n × t

t = The number of years

PV = Present value

PMT = Payment

P/Y = Number of payments per year = n

C/Y = Number of compounding periods per year = n

The formula for monthly payment is presented as follows;

P = \frac{M[(1+r/n)^{nt} - 1]}{(r/n)(1+r/n)^{nt}}

M = \frac{P.(r/n)(1+ r/n)^{nt} }{(1+ r/n)^{nt} - 1}

Therefore, we get;

Where;

M = PMT = -415

P = PV

r = I

P/Y = n = 12

Therefore;

0.003 = I/12

I = 0.003 X 12 = 3.6%

N = n X t = 24

The value of the equation is the present value, PV = ?

When payment are made based on the PV, we have FV = 0

The group of values the same value as the expression

P = \frac{(415)[(1+0.003)^{24}-1]}{(0.003)(1+0.003)^{24}}

when plugged into the TVM solver of a calculator is;

D. N = 24; I% = 3.6; PV =; PMT = -415; FV = 0; P/Y = 12; C/Y = 12; PMT :END

Learn more about Present Value Solver from:

brainly.com/question/1759639

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7 0
2 years ago
Which expression is equivalent to 1/5m − 20
levacccp [35]
<span>It's 1/5(m-100). What you do is 1/5 and connect it with what is in the parenthesis and your answer will be -20 just like when you do 1/5m-20</span>
4 0
2 years ago
Write 2.04 × 10 ⁴ as an ordinary number
ivann1987 [24]

Answer:

20400

Step-by-step explanation:

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8 0
2 years ago
Please refer to the image.
Citrus2011 [14]

Answer:2.7

Step-by-step explanation:multiply 3 x 1.8 then divide by 2

8 0
3 years ago
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What is the purpose of simultaneous equations?
sveta [45]

Answer:

a set of two or more equations, each containing two or more variables whose values can simultaneously satisfy both or all the equations in the set, the number of variables being equal to or less than the number of equations in the set.

Step-by-step explanation:

It works because of two properties of equations: Multiplying (or dividing) the expression on each side by the same number does not alter the equation. Adding two equations produces another valid equation: e.g. 2x = x + 10 (x = 10) and x − 3 = 7 (x also = 10).

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