Answer: No, the money won't be enough to buy the car
Step-by-step explanation:
you plan on buying yourself a new $20,000 car on graduation day and graduation day is 24 months time. If you invest $300 a month for the next 24 months.
The principal amount, p = 300
He is earning 4% a month, it means that it was compounded once in four months. This also means that it was compounded quarterly. So
n = 4
The rate at which the principal was compounded is 4%. So
r = 4/100 = 0.04
It was compounded for a total of 24 months. This is equivalent to 2 years. So
n = 2
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount that would be compounded at the end of n years.
A = 300(1 + (0.04/4)/4)^4×2
A = 300(1 + 0.01)^8
A = 300(1.01)^8
A = $324.857
The total amount at the end of 24 months is below the cost of the car which is $20000. So he won't have enough money to buy the car
Answer:
7 students.
Step-by-step explanation:
10% of 70 is 7.
Answer:
10
Step-by-step explanation:
abolute value= distance from zero 10 is 10 away from 0
Answer: (A) 10
<u>Step-by-step explanation:</u>
<u>Value</u> <u>Quantity</u> = <u>TOTAL Value</u>
dimes: .10 Q + 5 = .10(Q = 5)
quarters: .25 Q = .25Q
Dimes + Quarters = $4.00
.10(Q + 5) + .25Q = 4.00
.10Q + .50 + .25Q = 4.00
.50 + .35Q = 4.00
.35Q = 3.50
Q = 10
Quarters = 10
Dimes = Q + 5
= 10 + 5
= 15
