3 years ago

-12/5+3/10/11/14-(-9/14)

Mathematics

1 answer:

jok3333 [9.3K]3 years ago

7 0

Answer:

-6/5

Step-by-step explanation:

I hope it helps, bye

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Q1: Payments of $ 670 are being made at the end of each month for 5 years at an interest of 8% compounded monthly. Calculate the

zhuklara [117]

Answer:

$50,281.04

Step-by-step explanation:

5 years is equivalent to (5 × 12) = 60 months

Now, the first payment $670 is compounded for 60 months at the rate of $\frac{8}{12} = 0.667$ % monthly interest.

So, it will become $670(1 + \frac{0.667}{100})^{60} = 670(1.0067)^{60}$ .

Similarly the second payment of $670 will become $670(1.0067)^{59}$

Therefore, in this way after 60 months i.e. 5 years the total sum will be

= $670 + 670(1.0067)^{1} + 670(1.0067)^{2} + 670(1.0067)^{3} + ........ + 670(1.0067)^{59} + 670(1.0067)^{60}$

= $670[1 + (1.0067) + (1.0067)^{2} + (1.0067)^{3} + ....... + (1.0067)^{59} + (1.0067)^{60} ]$

= $670[1 \times \frac{(1.0067)^{61} - 1 }{1.0067 - 1} ]$

= $50,281.04 (Answer)

{Since, the sum of the G.P. series $1 + r + r^{2} + r^{3} + .......... + r^{n} = 1 \times \frac{r^{n + 1} -1}{r - 1}$ }

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3 years ago

Read 2 more answers