Answer:
<em>$7,196.42 </em>
Step-by-step explanation:
Using the compound interest formula to fins the amount after 10years;
A = P(1+r)^n
Principal P = $400,000
Rate r = 8% = 0.08
Time t = 10 years
Substitute
A = 400,000(1+0.08)^10
A = 400,000(1.08)^10
A = 400,000(2.1589)
A = 863,569.99
A ≈ 863,570
Hence the amount after 10 years is $863,570
Monthly deposit = $863,570/120 (10 years is equivalent to 120months)
Monthly deposit = 7,196.42
<em>Therefore he will have to deposit $7,196.42 into his account monthly</em>
I hope this helps you
6. (-7).a^2+4.b^1+7
-42.a^6.b^8
20 • 12 is 240
1/2 • 12 • 4 is 24
so 264
That's false.
Let's see an instance:
10% of 300=30
20% of 100=20
It doesn't work here so it's false
