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Pie
4 years ago
15

____________ is the amount of a $3000.00 annuity due at 12 percent compounded semiannually for 3 years.

Mathematics
1 answer:
snow_tiger [21]4 years ago
5 0
Base on my calculations, the answer is not in the choices given. First, we have to acknowledge that the interest rate given is not the effective interest rate instead it is called the nominal interest rate therefore we have to convert it first to an effective interest rate. We use the following formula:
Effective Interest rate = [[1 + (r/m)]^m] - 1 where r is the nominal interest rate and m is the number of compounding times 
For this case, m is equal to 2 since it is compounded semianually.
Effective Interest rate = [[1 + (.12/2)]^2] - 1 = .1236
We then use the calculated effective interest rate to the formula for the Compound Interest Rate Formula.
Future Value = Present Value (1 + Effective interest rate)^(no. of years)Future Value = 3000 (1 + .1236)^( 3) = 4255.56 dollars
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irina [24]

Answer:

<em>x = 5</em>

Step-by-step explanation:

5(x + 4) - 8 = x + 32

5x + 20 - 8 = x + 32

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Hope this helped! :)

4 0
3 years ago
Find 2 numbers who product is 15 and sum is 16.​
Marizza181 [45]

Answer:

15 and 1

Step-by-step explanation:

x and y are two numbers.

Two equations:

x · y = 15

x + y = 16

Rearrange one of the equations (I'll rearrange the sum equation):

x + y = 16

x = 16 - y

Substitute that to the other equation and solve for y:

x · y = 15

(16 - y) · y = 15

16 - y · y = 15

16 - y² = 15

-y² = 15 - 16

-y² = -1

y² = 1

y = √1

y = 1

Now substitute that to any of the equation and solve for x (in here, I'll choose the multiplication one):

x · y = 15

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15 · 1 = 15

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This is correct

6 0
3 years ago
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3 years ago
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Sergio039 [100]

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Step-by-step explanation:

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7 0
3 years ago
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Answer:

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Step-by-step explanation:

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6 0
3 years ago
Read 2 more answers
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