Answer:
$976,578.71
Step-by-step explanation:
We assume the deposits are made at the <em>beginning</em> of each quarter. The quarterly interest rate is 6%/4 = 1.5%. The number of quarterly payments is 15×4 = 60. The future value of an annuity due is ...
A = P(1+r)((1+r)^n -1)/r
where r is the quarterly interest rate, n is the number of payments, and P is the payment amount.
A = $10000(1.015)(1.015^60 -1)/.015 ≈ $976,578.71
The future value is $976,578.71.
A sequence is a set of numbers, called terms, arranged in some particular order. An arithmetic sequence is a sequence with the difference between two consecutive terms constant. The difference is called the common difference. A geometric sequence is a sequence with the ratio between two consecutive terms constant.
Don’t let the letter scare you, imagine this as a simple cross product!
(32 × 1) ÷ 8 = m
32 ÷ 8 = m
4 = m
There you go, the solution to this equation is that m = 4!
I really hope this helped, if there’s anything just let me know! ☻
Answer:
replied in the wrong place whoops the answer is 34.7
Step-by-step explanation:
