Answer: B
Step-by-step explanation:
Let's solve the given equation. Then we can see which other equation has the same answer.
-5n+31=-14n-5
36=-9n
n=-4
We need to fina another equation that gives n=4 as the answer.
A. Incorrect
3-6n+3n=-3+4-4n
3-3n=1-4n
n=-2
B. Correct
C. Incorrect
1=0.75n+3.25
-2.25=0.75n
n=-3
D. Incorrect
-1-22n=-20n-9
8=2n
n=4
Given:
• Amount to save, A = $28,000
,• Time, t = 6 years
,• Interest rate, r = 5.3% ==> 0.053
,• Number of times compounded = quarterly = 4 times
Let's find the amount that must be deposited into the account quarterly.
Apply the formula:
Where:
FV is the future value = $28,000
r = 0.053
n = 4
t = 6 years
Thus, we have:
Let's solve for P.
We have:
Solving further:
Divide both sides by 28.0384237:
Therefore, the amount that must be deposited quarterly into the account is $998.60
ANSWER:
$998.60