Answer:
Results are below.
Step-by-step explanation:
Giving the following information:
Monthly deposit= $100
Interest rate= 0.06/12= 0.005
Number of periods= 12*5= 60 months
<u>a)</u>
<u>To calculate the future value, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
FV= {100*[(1.005^60) - 1]} / 0.005
FV= $6,977
b) <u>If the deposit is at the beginning of the month, the interest is compounded one more period</u>. We need to use the following formula:
FV= {A*[(1+i)^n-1]}/i + {[A*(1+i)^n]-A}
FV= 6,977 + {[100*(1.005^60)] - 100}
FV= 6,977 + 35
FV= $7,012
Step-by-step explanation:
Below is an attachment containing the solution
Answer:
t = d/S
Step-by-step explanation:
S = d/t
Cross multiply
S x t = d
Divide both sides by S
S/S x t = d/S
t = d/S
Answer:
10.35 am
Step-by-step explanation:
Find the LCM
LCM = 275 minutes ÷ 60 minutes to change into hours
= 4hrs 35 min
6.00am + 4hrs 35min
= 10.35 am
Answer:
y=0x+4
Step-by-step explanation:
