Answer:
Future Value= $17,170.12
Step-by-step explanation:
Giving the following information:
Monthly deposit (A)= $70
Interest rate (i)= 0.04/12= 0.0033
Number of periods (n)= 15*12= 180 months
<u>To calculate the future value (amount saved), we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
FV= {70*[(1.0033^180) - 1]} / 0.0033
FV= $17,170.12
Answer: 2 sticks.
Step-by-step explanation:
Given statement: You need 3 sticks of butter for every 24 cookies you bake.
Using unitary method , the number of sticks of butter used to bake 1 cookie=
Then the number of sticks of butter used to bake 1 cookie=
Hence, the number of sticks of butter used to bake 16 cookies= 2