The accumulated (future) value is given by the formula
F=P(1+i)^n
where
P=amount of deposit (made at the beginning of the first period)
i=monthly interest, APR/12 = 3%/12 =0.0025
n=number of periods (month)
For example, the future value for the 6th month is
F(6)=1000(1.0025^6)=1015.09 (to the nearest cent)
Here is a schedule of the values,
i=month
F(i) = value at the end of month i.
i F(i)
0 1000.0
1 1002.5
2 1005.01
3 1007.52
4 1010.04
5 1012.56
6 1015.09
7 1017.63
8 1020.18
9 1022.73
10 1025.28
11 1027.85
12 1030.42 + $50 deposit = 1050.42
All values are rounded to the nearest cent.
Answer:
B
Step-by-step explanation:
an additional hour of walking is associated with an additional 0.7 mile walk
Answer:
Step-by-step explanation:
Answer:
7
Step-by-step explanation:
