Heather and Alyssa are saving money for summer break. Heather currently has $50 in her savings account and she will save $25 per
2 answers:
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We are asked to determine the present value of an annuity that is paid at the end of each period. Therefore, we need to use the formula for present value ordinary, which is:
Where:
Since the interest is compounded semi-annually this means that it is compounded 2 times a year, therefore, k = 2. Now we need to convert the interest rate into decimal form. To do that we will divide the interest rate by 100:
Now we substitute the values:
Now we solve the operations, we get:
Therefore, the present value must be $39462.50
Answer:
12 miles
Step-by-step explanation:
Alyssa takes part in the triathlon. She cycles 4/5 of the route, runs 1/8 of the route, and swims the rest of the way. She swims 0.9 miles. Find the total distance of the triathlon route.
Total distance Alyssa cycled and ran =
=
Distance she swam = 1 - 37/40 = 3/40
3/40 of the distance is 0.9
the total distance = 40/3 x 0.9 = 12 miles