Answer: No, the money won't be enough to buy the car
Step-by-step explanation:
you plan on buying yourself a new $20,000 car on graduation day and graduation day is 24 months time. If you invest $300 a month for the next 24 months.
The principal amount, p = 300
He is earning 4% a month, it means that it was compounded once in four months. This also means that it was compounded quarterly. So
n = 4
The rate at which the principal was compounded is 4%. So
r = 4/100 = 0.04
It was compounded for a total of 24 months. This is equivalent to 2 years. So
n = 2
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount that would be compounded at the end of n years.
A = 300(1 + (0.04/4)/4)^4×2
A = 300(1 + 0.01)^8
A = 300(1.01)^8
A = $324.857
The total amount at the end of 24 months is below the cost of the car which is $20000. So he won't have enough money to buy the car
Answer:
Step-by-step explanation:
Given that among 500 freshmen pursuing a business degree at a university, 315 are enrolled in an economics course, 213 are enrolled in a mathematics course, and 123 are enrolled in both an economics and a mathematics course.
From the above we find that
a) either economics of Math course is
Out of 500 students 405 have taken either Math or Economics
Hence
c) student who have taken neither = 
Exactly one course is either math or economics - both
= 
Use the formula i = p*r*t:
$456
$456 = $1600*r*6. Solving for r, r = ----------------- = 0.0475, or 4 3/4%
($1600)(6)
Answer
S=3
Step-by-step explanation:
add 24 to both sides, then you subtract -42+24 take sign of the larges which is negative and youll get -6s=-18 divide -6 to both sides and you will get S=3
