Step 3:
14/7x-6/3=5
2x-2=5
2x=5+2
2x=7
x=7/2
Answer:
thats is the answer write it yourself and learn math
First convert 5 1/3 into a fraction which is 16/3.
16/3 divided by 7/8 is the same as 16/3 multiplied by 8/7. So you multiply the fractions together to get 128/21.
The effective annual interest rate is:
i = (1 + 0.064/12)^12 - 1 = 0.066
In year 1: the interest is $613.80 (multiple $9300 by 0.066)
In year 2: the interest is $654.31 (add interest from year 1 to $9300 and multiply by 0.066)
In year 3: the interest is $656.98 (do the same as year 2)
In year 4: the interest is $657.16
The total interest is: $2582.25
The present worth of this amount is:
P = 2582.23 / (1 + 0.066)^4 = $1999.72
The answer is $1999.72.
