Answer:
Yolanda will have a balance of $34,043.10 in 14 years.
Step-by-step explanation:
This is an Ordinary annuity question where you pick the hint from the equal and recurring monthly payment.
To find the Future value of Yolanda's savings after 14 years, use Future value of annuity formula FVA =
PMT= recurring payment = $300
r = discount rate; monthly rate in this case = 6% / 12 =0.5% or 0.005 as a decimal.
t = total duration ; 14 *12 = 168 months
Next, plug in the numbers into the FVA formula;
FVA =
FVA = 60,000 * 0.5673849
FVA = 34,043.0969
Therefore, Yolanda will have a balance of $34,043.10 in 14 years
Answer:
x = 5
z =2
y =4.4
Step-by-step explanation:
y varies directly as x
y = kx
and inversely as z
y = kx/z
Putting in the numbers in the first line of the table, we can solve for k
13.75 = k * 25/4
Multiply by 4
13.75*4 = 25k
55 =25k
Divide by 25
55/25 = 25k/25
2.2 = k
Now we can fill in the table
y = 2.2 x/z
Row 2 we need to find x
1 = 2.2 x/11
Multiply by 11
11 = 2.2 x
Divide by 2.2
11/2.2 = 2.2x
5 =x
Row 3 we need to find z
18.7 = 2.2 *17/z
18.7 = 37.4 /z
Multiply by z
18.7z = 37.4
Divide by 18.7
18.7/18.7z = 37.4/18.8
z =2
Row 4 we need to find y
y = 2.2 *10/5
y = 22/5
y =4.4
Lisa had $32.4 in her savings before going to the bakery
Step-by-step explanation:
Let's assume that the amount of money Lisa had: x
Amount of money Lisa spent: $14.20
Amount of money Lisa brings home: more than $2.00 or >$2
<em>To find the amount of money Lisa had before, add the amount that Lisa spent and the amount she had left approximately and multiply it by two since she only brought half of her savings</em>
Total amount Lisa had > 2 (Amount of money Lisa spent + Amount of money Lisa brings home)
x > 2 (14.2 + 2)
x > 16.2 x 2
x > 32.4
The total amount that Lisa had in her savings before going to the bakery is more than $32.4.
Keyword: Inequality
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