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tangare [24]
3 years ago
9

Michael wants to save $46,000.00 for a down payment on a home. How much will he need to invest in an account with 6.1% APR, comp

ounding daily, in order to reach his goal in 7 years? Round the answer to the nearest cent
Mathematics
2 answers:
lisabon 2012 [21]3 years ago
8 0

Answer:

i.d.k

Step-by-step explanation:

sorry

peace

...

really sorry my friend

Rufina [12.5K]3 years ago
5 0

Step-by-step explanation:

Simple Interest

Discussing interest starts with the principal, or amount your account starts with. This could be a starting investment, or the starting amount of a loan. Interest, in its most simple form, is calculated as a percent of the principal. For example, if you borrowed $100 from a friend and agree to repay it with 5% interest, then the amount of interest you would pay would just be 5% of 100: $100(0.05) = $5. The total amount you would repay would be $105, the original principal plus the interest.

four rolled-up dollar bills seeming to grow out of dirt, with a miniature rake lying in between them

SIMPLE ONE-TIME INTEREST

I

=

P

0

r

A

=

P

0

+

I

=

P

0

+

P

0

r

=

P

0

(

1

+

r

)

I is the interest

A is the end amount: principal plus interest

P

0

is the principal (starting amount)

r is the interest rate (in decimal form. Example: 5% = 0.05)

EXAMPLES

A friend asks to borrow $300 and agrees to repay it in 30 days with 3% interest. How much interest will you earn?

Show Solution

The following video works through this example in detail.

One-time simple interest is only common for extremely short-term loans. For longer term loans, it is common for interest to be paid on a daily, monthly, quarterly, or annual basis. In that case, interest would be earned regularly.

For example, bonds are essentially a loan made to the bond issuer (a company or government) by you, the bond holder. In return for the loan, the issuer agrees to pay interest, often annually. Bonds have a maturity date, at which time the issuer pays back the original bond value.

EXERCISES

Suppose your city is building a new park, and issues bonds to raise the money to build it. You obtain a $1,000 bond that pays 5% interest annually that matures in 5 years. How much interest will you earn?

Show Solution

Further explanation about solving this example can be seen here.

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Eliza started her savings account with $100. Each month she deposits $25 into her account. Determine the average rate of change
Afina-wow [57]
First, lets create a equation for our situation. Let x be the months. We know four our problem that <span>Eliza started her savings account with $100, and each month she deposits $25 into her account. We can use that information to create a model as follows:
</span>f(x)=25x+100
<span>
We want to find the average value of that function </span>from the 2nd month to the 10th month, so its average value in the interval [2,10]. Remember that the formula for finding the average of a function over an interval is: \frac{f(x_{2})-f(x_{1})}{x_{2}-x_{1} }. So lets replace the values in our formula to find the average of our function:
\frac{25(10)+100-[25(2)+100]}{10-2}
\frac{350-150}{8}
\frac{200}{8}
25

We can conclude that <span>the average rate of change in Eliza's account from the 2nd month to the 10th month is $25.</span>
6 0
3 years ago
Please help me with this!!
Troyanec [42]

Answer:

As the height increases, the temperature decreases.

It is decreasing 5°C per kilometer.

At the height 8 km the temperature is 0°.

5 0
3 years ago
Help.........................<br><br>​
garri49 [273]
<h3>Answer: Choice A</h3>

x^2\left(\sqrt[4]{x^2}\right)

=====================================================

Explanation:

The fourth root of x is the same as x^(1/4)

I.e,

\sqrt[4]{x} = x^{1/4}

The same applies to x^10 as well

\sqrt[4]{x^{10}} = \left(x^{10}\right)^{1/4}

Multiply the exponents 10 and 1/4 to get 10/4

\sqrt[4]{x^{10}} = \left(x^{10}\right)^{1/4} = x^{10*1/4} = x^{10/4}

\sqrt[4]{x^{10}} = x^{10/4}

-----------------------

If we have an expression in the form x^(m/n), with m > n, then we can simplify it into an equivalent form as shown below

x^{m/n} = x^a\sqrt[n]{x^b}

The 'a' and 'b' are found through dividing m/n

m/n = a remainder b

'a' is the quotient, b is the remainder

-----------------------

The general formula can easily be confusing, so let's replace m and n with the proper numbers. In this case, m = 10 and n = 4

m/n = 10/4 = 2 remainder 2

We have a = 2 and b = 2

So

x^{m/n} = x^a\sqrt[n]{x^b}

turns into

x^{10/4} = x^2\sqrt[4]{x^2}

which means

\sqrt[4]{x^{10}} = {x^2} \sqrt[4]{x^2}

7 0
3 years ago
When I evaluate m=2 , h=1 then what would mh+3 would be?
Andrei [34K]

Answer:5

Step-by-step explanation: since you know that m=2, and h=1, mh is the same as m × h, or 2×1. Which is equal to 2, you then add 3 to get your answer

7 0
3 years ago
I need help I need to be tutored for middle school I need to be a straight A student ​
Yuri [45]

Answer:

ok

Step-by-step explanation:

3 0
3 years ago
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