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Lelechka [254]
2 years ago
6

A young couple wants to save $40,000 over the next 5 years and then use this money as a down payment on a home. How much money m

ust they deposit at the end of each quarter in an account that earns 5% compounded quarterly?
Mathematics
1 answer:
saul85 [17]2 years ago
5 0

5% of 40,000 is 2,000

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Part A

Let's say point P is the starting point and point Q is the endpoint

x = one-way distance from P to Q, and vice versa

The goal is to find x, then compute 2x to find the round trip distance traveled.

We'll use this idea

distance = rate*time

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So when going from P to Q, the driver is going 70 mph and travels x miles

So the driver does this for distance/time = x/70 hours.

When going back, the driver slows down to 55 mph so the time taken here is x/55 hours.

The total time values add to x/70 + x/55 hours

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x = 215.6 which is the one-way distance in miles

which then means,

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Therefore, the total distance traveled is 431.2 miles

<h3>Answer: 431.2 miles</h3>

=========================================================

Part B

To find the duration of each trip, we simply need to evaluate x/70 and x/55. Those are the durations when going 70 mph and 55 mph respectively. These durations are measured in hours.

x/70 = (215.6)/70 = 3.08

x/55 = (215.6)/55 = 3.92

Note how 3.08+3.92 = 7 to help verify the answers.

<h3>Answers:</h3>
  • When going 70 mph, it takes about 3.08 hours
  • When going 55 mph, it takes about 3.92 hours
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