Cube root of 30:
Equivalent to 30^(1/3) = <span>3.10723250595
Approximately rounded to 3.12.</span>
<u>Answer-</u>
<em>You need to deposit $337.62 each month, to reach this goal.</em>
<u>Solution-</u>
We know that,
![\text{FV of annuity}=P[\frac{(1+r)^n-1}{r}]](https://tex.z-dn.net/?f=%5Ctext%7BFV%20of%20annuity%7D%3DP%5B%5Cfrac%7B%281%2Br%29%5En-1%7D%7Br%7D%5D)
Where,
P = periodic payment
r = rate per period
n = number of period
Here,

Putting the values,
![\Rightarrow 2500000=P[\frac{(1+\frac{9}{1200})^{540}-1}{{\frac{9}{1200}}}]](https://tex.z-dn.net/?f=%5CRightarrow%202500000%3DP%5B%5Cfrac%7B%281%2B%5Cfrac%7B9%7D%7B1200%7D%29%5E%7B540%7D-1%7D%7B%7B%5Cfrac%7B9%7D%7B1200%7D%7D%7D%5D)
![\Rightarrow P=\frac{2500000}{[\frac{(1+\frac{9}{1200})^{540}-1}{{\frac{9}{1200}}}]}](https://tex.z-dn.net/?f=%5CRightarrow%20P%3D%5Cfrac%7B2500000%7D%7B%5B%5Cfrac%7B%281%2B%5Cfrac%7B9%7D%7B1200%7D%29%5E%7B540%7D-1%7D%7B%7B%5Cfrac%7B9%7D%7B1200%7D%7D%7D%5D%7D)



Hey there!
Since we don't know how many hours it took, we'll say 9 mph = 3 miles/x hours. To solve, we multiply both sides by x. 9x = 3 Dividing both sides by 9, we get that it took 3/9 hours or 1/3 hours. How many minutes are 1/3 hours? 20, so it took Derrick 20 minutes. Hope this helps! :)
Hugs!
- Nicole
Yup that's correct bc when we were leading this my teacher said that was correct