Assuming Jerry calculates that if he makes a deposit of $6 each month at an APR of 4.8%, then at the end of two years the correct balance will be: $158.5
First step is to determine Jerry total deposit
over the two years
Total deposit = 24×$5
Total deposit= $144
Now let determine what the correct balance will be at end of two years
Using this formula
Maximum Amount=Principal (1+r)^t
<em>Where</em>:
Principal=$144
r=4.8%/12 = 0.4% or 0.004
t=24 months
Let plug in the formula
Maximum Balance = $144 (1.004)^24
Maximum Balance = $158.5
Based on the above calculation both Jerry $100 and Benny $163 balance are eliminated or rule out because the correct balance after two years is $158.5
Inconclusion Assuming Jerry calculates that if he makes a deposit of $6 each month at an APR of 4.8%, then at the end of two years the correct balance will be: $158.5
Learn more here:
brainly.com/question/3658861
Answer:
Step-by-step explanation:
2(5-4g) + 3g - 11 = 5(g-3) - 12 - 3g (remove the parantheses)
10 - 8g + 3g - 11 = 5g - 15 - 12 -3g (Calculate and collect like terms)
-1 - 5g = 2g - 27 (move the terms)
-5g -2g = 27 + 1 (collect like terms and calculate)
-7g = -26 (divide both sides)
so G = 26/7
That would be 8. first parenthesis, then multiply, then subtract.
Answer:
0.105263158
Step-by-step explanation:
