Answer:
$712.
Step-by-step explanation:
We have been given that a fund earns a nominal rate of interest of 6% compounded every two years. We are asked to find the amount that must be contributed now to have 1000 at the end of six years.
We will use compound interest formula to solve our given problem.
, where,
A = Final amount,
P = Principal amount,
r = Annual interest rate in decimal form,
n = Number of times interest is compounded per year,
t = Time in years.

Since interest is compounded each two years, so number of compounding per year would be 1/2 or 0.5.







Therefore, an amount of $712 must be contributed now to have 1000 at the end of six years.
Heya user
we have
7x - 6y and x + y
according to the question
( 7x - 6y ) + ( x + y )
→ 7x - 6 y +x + y
→ 8x - 5y
Hope This helps you
Answer:
48 months
Step-by-step explanation:
first take how much you need and add how much you want to leave, so 2500+500=3000. Then delete 600 from 3000, which will give you $2400. divide $2400 by 50 which gives you 48. it will take 48 months to get enough money to purchase a car at $2500 and leave $500 in the account.
Answer:
To be Honest I Really Don't know What are the Answers?
Answer:
its 5 Obviously :)
Step-by-step explanation:
get it