The formula of the future value of annuity due is
A=p [(1+r/k)^(kn)-1)/(r/k)]×(1+r/k)
A future value of annuity due
P payment 125
R interest rate 0.0375
K compounded monthly 12
N time 8 years
Solve for A
A=125×(((1+0.0375÷12)^(12
×8)−1)÷(0.0375÷12))×(1
+0.0375÷12)
=14,012.75
3/(x-1) - 1/(x^2-1) = 5/(x-1)
Subtract 3/(x-1) from both sides
-1/(x^2-1) = 2/(x-1)
Factor x^2 - 1
-1/[(x-1)(x+1] = 2/(x-1)
Multiply by (x-1)(x+1) on both sides
-1 = 2 (x+1)
-1 = 2x + 2
Subtract 2 from both sides
-3 = 2x
Divide by 2 on both sides
-3/2 = x
Answer:
x=75
Step-by-step explanation:
Answer:
$30
Step-by-step explanation:
If the CD paid back 3% interest of the money you put in, all you have to find is what 3% of $1000 is.
3% = 0.03.
0.03 x 1000 is $30.
You earned $30 in interest.
