Answer:
Results are below.
Step-by-step explanation:
Giving the following information:
Monthly deposit= $100
Interest rate= 0.06/12= 0.005
Number of periods= 12*5= 60 months
<u>a)</u>
<u>To calculate the future value, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
FV= {100*[(1.005^60) - 1]} / 0.005
FV= $6,977
b) <u>If the deposit is at the beginning of the month, the interest is compounded one more period</u>. We need to use the following formula:
FV= {A*[(1+i)^n-1]}/i + {[A*(1+i)^n]-A}
FV= 6,977 + {[100*(1.005^60)] - 100}
FV= 6,977 + 35
FV= $7,012
Answer:
a) 160 minutes per day
b) Find the graph attached
c) on 10th week Maria would be walking 2560 minutes per day
Step-by-step explanation:
Week 1 - 5 minutes per day
Week 2 - 10 minutes per day
Week 3 - 20 minutes per day
Week 4 - 40 minutes per day
Week 5 - 80 minutes per day
Week 6 - 160 minutes per day
a) 160 minutes per day
b) Find the graph attached
c) on 10th week Maria would be walking 2560 minutes per day
Correlation coefficient is always between -1 and +1. So it cannot be +2.3