Answer:
<em>$7,196.42 </em>
Step-by-step explanation:
Using the compound interest formula to fins the amount after 10years;
A = P(1+r)^n
Principal P = $400,000
Rate r = 8% = 0.08
Time t = 10 years
Substitute
A = 400,000(1+0.08)^10
A = 400,000(1.08)^10
A = 400,000(2.1589)
A = 863,569.99
A ≈ 863,570
Hence the amount after 10 years is $863,570
Monthly deposit = $863,570/120 (10 years is equivalent to 120months)
Monthly deposit = 7,196.42
<em>Therefore he will have to deposit $7,196.42 into his account monthly</em>
Like terms are when numbers with and without variables can be combined. ex: 4x+6-8x+=32
you would first combine 4x and -8x because they are the same.
Answer:
360
Step-by-step explanation:
Answer:
Cost =$3
Amount = 8 gallons and 17 gallons
Step-by-step explanation:
Given
24 + 51
Required
Simplify to show the cost and amount of gas bought by each individual
24 + 51
[Factorize]
3(8 + 17)
The above can't be factored any further.
Since the cost of gas for both individuals is the same, we can conclude the following.
Cost = $3
This is so because it applies to both numbers in brackets
Amount of Gas = 8 gallons and 17 gallons respectively by both individuals
Doesn't everyone? lol what can I help you with?
