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Molodets [167]
3 years ago
13

Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 2.5%/year compounde

d monthly. If the future value of the annuity after 10 years is $60,000, what was the size of each payment? (Round your answer to the nearest cent.) $
Mathematics
1 answer:
Kisachek [45]3 years ago
6 0

Answer:

Monthly payment= $440.71

Step-by-step explanation:

Giving the following information:

Mothly interest rate (i)= 0.025/12= 0.00208

Number of periods (n)= 12*10= 120 months

Future Value (FV)= $60,000

<u>To calculate the monthly payment, we need to use the following formula:</u>

Monthly payment= (FV*i) / [(1+i)^(n) - 1]

Monthly payment= (60,000*0.00208) / [(1.00208^120) - 1]

Monthly payment= $440.71

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If someone could help me out with this, I would greatly appreciate it!!
kati45 [8]

We are given that revenue of Tacos is given by the mathematical expression -7x^{2}+32x+240.

(A) The constant term in this revenue function is 240 and it represents the revenue when price per Taco is $4. That is, 240 dollars is the revenue without making any incremental increase in the price.

(B) Let us factor the given revenue expression.

-7x^{2}+32x+240=-7x^{2}+60x-28x+240\\-7x^{2}+32x+240=x(-7x+60)+4(-7x+60)\\-7x^{2}+32x+240=(-7x+60)(x+4)\\

Therefore, correct option for part (B) is the third option.

(C) The factor (-7x+60) represents the number of Tacos sold per day after increasing the price x times. Factor (4+x) represents the new price after making x increments of 1 dollar.

(D) Writing the polynomial in factored form gives us the expression for new price as well as the expression for number of Tacos sold per day after making x increments of 1 dollar to the price.

(E) The table is attached.

Since revenue is maximum when price is 6 dollars. Therefore, optimal price is 6 dollars.


7 0
3 years ago
2|3x + 5| = -10 how break it down
iren2701 [21]
2|3x + 5| = -10 . Divide both sides by 2:

|3x + 5| = -5 ===>3x+5=-5 & -3x-5=-5 In both cases x=0 
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3 years ago
Which color uses the most wrapping paper<br>​
choli [55]

Answer: I'm pretty sure its the green rectangle

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Use the Zero Product Property to find the x-intercepts for y=3(x−5)(2x+3)
Tanzania [10]

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3 years ago
how to wrok out a rate of 15 orders every 5 hours. At this rate, how many hours will it take to ship 156 orders
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Answer:

52 hours

Step-by-step explanation:

Given that it takes 15 orders every 5 hours.

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With that we find that the answer is 52 hours

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3 years ago
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