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MAXImum [283]
3 years ago
14

Ricky Bobby wants to buy a new automobile for $55,000 in 8 years. How much money must Ricky's original investment be if he makes

a single deposit into an account with monthly compounding and an annual interest rate of 3.90% in order to reach his goal? Round your answer to the nearest cent.
Mathematics
1 answer:
laila [671]3 years ago
4 0

Answer:

PV= $40,279.36

Step-by-step explanation:

Giving the following information:

Number of periods= 8*12= 96 months

Interest rate= 0.039/12= 0.00325

Future value (PV)= $55,000

<u>To calculate the initial investment, we need to use the following formula:</u>

PV= FV/(1+i)^n

PV= 55,000 / (1.00325^96)

PV= $40,279.36

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I need help on this question so if u actually can answer it correctly and show how you got it that would be helpful thx
Sedaia [141]

\rm \looparrowright -  \frac{1}{4} (8 - 4 + 20x)

Subtract the numbers

\rm \looparrowright -  \frac{1}{4} (4+ 20x)

Factor out 4 from the expression

\rm \looparrowright   - \frac{1}{ \cancel4}  \times  \cancel4(1 + 5x)

\rm \looparrowright   - (1 + 5x)

When there is a - in front of an expression in parentheses, change the sign of each term in the expression to -

\rm \looparrowright   - 1  -  5x

  • <em>Thus, Options A and F are correct!!~</em>
6 0
3 years ago
I need help im gonna post 3 more different questions pls answer them.
Arisa [49]

Answer:

15

Step-by-step explanation:

x³ - (3 + x)²

4³ - (3 + 4)²

8 0
3 years ago
What is the value of y in the following system?<br> Y= 3x-5<br> 6x + 3y= 15
nalin [4]
X = 2
y = 1

You can get this by replacing the y in the second equation with the 3x - 5 from the first. Then solve for x. Once you have that value, you can solve for y. 
7 0
3 years ago
Easyy I need help guys...(easy fractions)
Ivanshal [37]

1a. 5/10 can be simplified to 1/2. (5 divided by 5 is one, 10 divided by 5 is 2.)

1b. 9/12 can be simplified to 3/4. (9 divided by 3 is 3, 12 divided by 3 is 4.)

1c. 12/18 can be simplified to 2/3. (12 divided by 6 is 2, 18 divided by 6 is 3.)

1d. 9/24 can be simplified to 3/8. (9 divided by 3 is 3, 24 divided by 3 is 8.)

1e. 27/90 can be simplified to 3/10. (27 divided by 9 is 3, 90 divided by 9 is 10.)

1f. 40/48 can be simplified to 5/6. (40 divided by 8 is 5, 48 divided by 8 is 6.)

8 0
3 years ago
Read 2 more answers
What is 863.141 in expanded form
tiny-mole [99]
800.000+60.000+3.000+100+40+1
8 0
3 years ago
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