Answer:
Yolanda will have a balance of $34,043.10 in 14 years.
Step-by-step explanation:
This is an Ordinary annuity question where you pick the hint from the equal and recurring monthly payment.
To find the Future value of Yolanda's savings after 14 years, use Future value of annuity formula FVA = ![\frac{PMT}{r}[1-(1+r)^{-t} ]\\](https://tex.z-dn.net/?f=%5Cfrac%7BPMT%7D%7Br%7D%5B1-%281%2Br%29%5E%7B-t%7D%20%5D%5C%5C)
PMT= recurring payment = $300
r = discount rate; monthly rate in this case = 6% / 12 =0.5% or 0.005 as a decimal.
t = total duration ; 14 *12 = 168 months
Next, plug in the numbers into the FVA formula;
FVA = ![\frac{300}{0.005} [ 1-(1+0.005)^{-168} ]](https://tex.z-dn.net/?f=%5Cfrac%7B300%7D%7B0.005%7D%20%5B%201-%281%2B0.005%29%5E%7B-168%7D%20%5D)
FVA = 60,000 * 0.5673849
FVA = 34,043.0969
Therefore, Yolanda will have a balance of $34,043.10 in 14 years
Answer:
download a graphing calc it helps a lot, just put the points and it tells u the slope and all that :)
Step-by-step explanation:
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Answer:
d
Step-by-step explanation:
i think
Answer:
66 cups of fruit juice will be required .
Step-by-step explanation:
According to the question ,
90 Cups of fruit juice is required for making of 210 cups of punch .
So,
For making of one cup of punch ,
= 
cups of fruit juice will be required ,
Thus,
For making of 154 cups of punch ,
Total number of cups of fruit juice required will be ×154.
= 66 cups.
Thus a total of 66 cups of fruit juice will be required.
