Answer:
<em>$7,196.42 </em>
Step-by-step explanation:
Using the compound interest formula to fins the amount after 10years;
A = P(1+r)^n
Principal P = $400,000
Rate r = 8% = 0.08
Time t = 10 years
Substitute
A = 400,000(1+0.08)^10
A = 400,000(1.08)^10
A = 400,000(2.1589)
A = 863,569.99
A ≈ 863,570
Hence the amount after 10 years is $863,570
Monthly deposit = $863,570/120 (10 years is equivalent to 120months)
Monthly deposit = 7,196.42
<em>Therefore he will have to deposit $7,196.42 into his account monthly</em>
Answer:
c) (6,0)
Step-by-step explanation:
The formula to find a slope is y=mx-b where m is the slope (to find the slope you find the change in y and the change in x) which in this case is -3. The change in y is -3 and the change in x is -1. If you put it on a graph the line is going down from left to right and it intersects the y-axis at 18 meaning if you keep sloping down in a straigt line it intersects the x-axis at (6,0).
It’s %25 off think about it 40-10=30 and that’s %25 of it hope I help you have a good day
