If Dain wants $50,000 after 3 years to make a down payment on a house, how much does he need to invest every quarter, into an ac
count that pays 6% compounded quarterly?
1 answer:
Answer:
P = $41,820.01
Step-by-step explanation:
A = P(1 + r/n)^nt
P = A / (1 + r/n)^nt
Where,
P = principal
A = future value = $50,000
n = number of periods = 4
r = interest rate = 6% = 0.06
t = time = 3 years
P = A / (1 + r/n)^nt
= 50,000 / (1 + 0.06/4)^4*3
= 50,000 / (1 + 0.015)^12
= 50,000 / (1.015)^12
= 50,000 / 1.1956
= 41,820.01
P = $41,820.01
You might be interested in
Answer:
<h2>
75 km per hour</h2>
Step-by-step explanation:
divided by two is 
.
Point slope equation for point (h,k) and slope m is given by
y-k=m(x-h)
compare given equation with formula
we get h=-7, k=3
so the required point is (-7,3)
Probability of getting a subject that is not diabetic, given that the result is negative is 90.3%
Answer:
r ≥ -9
Step-by-step explanation:
So C/D=.34 And D=.11, now just plug D into the first equation.
C/.11=.34 Divide by .11
C=3.09090909
Now this rounded two decimal places is 3.09!
Hope this helps
