For this, we have to calculate how much money has to be invested at 2.3% interest compounded continuously to achieve $41,000 after 17 years
Formula: A= P * ( 1+r)^t
A= $41,000
r=0.023
t= 17
<span>41,000= P * (1+0.023)^17
</span>41,000= P * (1.023)^17
41,000= P * 1.4719
P= 41,000 : 1.4719
P= $27,731.59
Therefore, the answer is C. $27,731.59
I checked by doing the opposite, and I got $41,000.01, which is the closest to the question<span>
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N+(n+1)+(n+2)+(n+3)+(n+4)+(n+5)=270
We use these terms to represent the first six consecutive integers in the sequence
Now we group like terms:
6n+15=270
Minus 15 from both sides of the equation
6n=255
n=42.5 which is not an integer
Is this a joke question?
Besides that, the 2nd number will be 43.5
1) A translation 2 units right
2) A reflection over the x-axis
I'm assuming the funds earn 5% yearly?
Call x the amount he saves every year. The first year's deposit will be multiplied by 1.05 three times, the next will be multiplied by 1.05 twice, the third will be multiplied by 1.05 once, and the fourth will not generate interest (as it will immediately be used to buy the car).
Therefore, x(1.05^3+1.05^2+1.05+1)=21000, so 4.31x=21000. Dividing by 4.31, we see that x is approximately equal to 4872.
