<span>Moxie wants to have $5000. how much money does she have to deposit in an account at 6% interest, compounded 3 times per year, in order to have $5000 at the end of 6 years? The formula for compound interest AMOUNT is
A = P (1 + r/n)^(nt),
where P is the principal and must be calculated here; A is the amount Moxie wants to have after 6 years, and is $5000; r is the annual interest rate, expressed as a decimal fraction: 0.06; n is the number of compounding periods per year, which here is 3; and t is the time, in years, here equal to 6.
Solve the following for P: $5000 = P (1 + 0.06/3)^(3*6)
Hint: $5000 = P (1.02)^18
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Answer:
-Ella have enough money($16,188.21) saved in six years to buy her home.
-It will take just over 10 yrs(10.24 yrs) for Ella’s account balance to exceed $20,000.
Step-by-step explanation:
#5% interest, compounded monthly, we calculate the effective annual interest rate:

The principal amount is $12,000 and the desired term is 6yrs. We calculate the compounded amount after 6yrs at
:

Hence, Ella wont be able to make a down-payment at the end of 6 yrs since her investment of $16,188.21 <$20,000
To get how long she will be able to make the down-payment, we equate and make n the subject of the formula:

Hence, it will take just over 10 yrs for Ella’s account balance to exceed $20,000.
Answer:
5
Step-by-step explanation:
The total number of gifts = x+y.
The inequality is:

Key chains cost $1, Magnets $0.50
Total Cost = x + 0.5y
Inequality is:

Without graphing you can solve system by using substitution:

This is one solution where the maximum x value is given.
So the most keychains that can be purchased is 16. However, because magnets are cheaper, more can be purchased as long as cost remains under 20.
If you solve both inequalities for "y", you get the upper and lower bounds for how many magnets can be purchased given a quantity of keychains.

This is complete solution which gives all possible combinations.
(Graph is Attached)