Please help I will give Brantley if right Question 1 (5 points)

If Betty makes monthly deposits at the end of each month in an account that earns 8% interest compounded monthly,

Svetlanka [38]

9514 1404 393

Answer:

(a) $254.08

(b) $767.34

(c) $12,449.36

Step-by-step explanation:

These questions are best answered by a financial calculator or app. Such are available for your phone or tablet. A spreadsheet also has built-in functions for making these calculations.

(a) FV = $40,000, i = 8% per year, n = 9 years (108 months), compounding 12 times per year. The monthly deposit needs to be $254.08.

__

(b) Payment = $254.08, n = 3 months, i = 8%/year, compounding 12 times per year. FV = $767.34.

__

(c) The sum of 108 payments of $254.08 is ...

108 × $254.08 = $27,440.64

The interest earned is enough to bring the account value to $40,000, so is ...

$40,000 -27,440.64 = $12,559.36

_____

Additional comment

The amount $254.08 is rounded down to the nearest cent, so the balance after 9 years will be $39,999.70, which is $0.30 short of $40,000. We used $40,000 as the final account balance, so overestimated the interest by $0.30.

There may be additional small changes in the values if you round interest to the nearest cent each month the way a financial institution would. It is hard to tell in these problems how accurate you're intended to be in your calculations.

4 0

2 years ago

Amy has $1,000 in a savings account at the beginning of the fall. She wants to have at least $500 in the account by the end of t

LuckyWell [14K]

Answer:

D. $1000 - 100w \geq 500; w \leq 5$

Step-by-step explanation:

Given:

Initial amount in the bank = $1000

Money withdrawn each week = $100

Final amount should be at least $500.

Now, let the number of weeks the money is withdrawn be 'w'.

Therefore,

Money withdrawn in 'w' weeks = $\textrm{Money withdrawn each week}\times w$

Total Money withdrawn in 'w' weeks = $100w$

Now, final amount after 'w' weeks is equal to the difference between initial amount and total withdrawal amount. Therefore,

Final amount = Initial amount - Total withdrawal amount

Final amount = $1000 - 100w$

Now, final amount must be greater than or equal to $500. So,

$\textrm{Final amount}\geq500\\\\1000-100w\geq500$

Therefore, the inequality that represents the inequality for the number of weeks Amy can withdraw money is:

$1000-100w\geq500$

Now, let us solve for 'w'.

Adding -500 and 100w both sides, we get:

$1000-500-100w+100w\geq500-500+100w\\\\500\geq100w\\\\\textrm{The above inequality is reversed when taking 100w on the left side}\\\\100w\leq500\\\\w\leq\frac{500}{100}\\\\\therefore w\leq5$

Therefore, the correct option is (D).

7 0

3 years ago

Which values of k are solutions to the inequality |-k-2|<18? Check all that apply -40

LenaWriter [7]

Answer:

any number except -20

Step-by-step explanation:

$|-k-2|$

$-k-2$ $-k-2>18$

$-k$ $-k>18+2$

$-k$ $-k>20$

Multiply by -1 to make the k positive. This will alter all the terms which means 20 will become negative. NOTE: When multiplying or dividing by negative numbers, the inequaliy sign flips.

$k>-20$ $k$

k must be either greater than -20 but not including it or fewer than -20 but not including it; therefore, any number between negative infinity and -21 and -19 and postive infinity

6 0

3 years ago

Read 2 more answers

A culture of bacteria obeys the law of uninhibited growth. if 500 bacteria are present initially, and there are 800 after 1 hour

lesantik [10]

Since this culture of bacteria obeys the law of uninhibited growth. Given that 500 bacteria are present initially, and there are 800 after 1 hour, a growth rate of 0.470003629246 (k value) has been calculated. 5243 will be present after 5 hours.

8 0

3 years ago

Read 2 more answers

(a^-3bc^0)^-2/(ab^3c^4)^5

mr Goodwill [35]

6b6
——— (hope this helps)
ac2

5 0

3 years ago