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11111nata11111 [884]
3 years ago
5

Jeff's father is planning to open a savings account to pay for Jeff's college education. He has found a bank that will pay 5 per

cent interest compounded daily. How much will he need to deposit initially so that in 14 years the balance will be $199,000?
Mathematics
1 answer:
jeka57 [31]3 years ago
5 0

Answer:

P = $183.14

Step-by-step explanation:

Given:

Rate of interest = 5% daily =0.05

Number of year = 14

Balance = $199,000

Computation:

Assume;

Number of days in a year = 365

199,000 = p[1+(0.05/365)]¹⁴⁽³⁶⁵⁾

199,000 = p[1+(0.001369)⁵¹¹⁰

199,000 = p[1086.59]

P = $183.14

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Step-by-step explanation:

Probability:

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Help please!! i need this last one to finish!!!! 44 points!!
AleksandrR [38]

Answer:

The point is at about (4.5, 100).

Step-by-step explanation:

Minka's line is p = 22t, which has a y-intercept of 0.

Kenji's line is p = 50 + 11t, which has a y-intercept of 50.

Find the line with y-intercept at 0 and the line with y-intercept at 50. Follow the two lines until they intersect. The point of intersection is about (4.5, 100).

You can find this point by setting the two equations equal to each other:

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Subtract 11t from both sides.

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