Jimmy needs to rent a banquet hall for a charity dinner. Facility A charges customers a one-time fee of $500 plus $15 for every
1 answer:
You might be interested in
We have been given that miss Roxanne is 25 years old and she puts 1800 dollars per quarter that returns 6% interest.
(a) We need to figure out how much will be in the account when she turns 65 years old. When she turns 65 years old, the number of years during which she made deposits would be 40. Since she made quarterly deposits. She made a total of 160 deposits. We can now figure out the final amount in the account using future value of annuity formula.
We have the values P=1800, r=6/4% = 1.5% = 0.015 and n=160.
Therefore, the amount in the account would be:
Therefore, miss Roxanne will be 1179415.39 dollars in her account when she turns 65 years old.
(b) In this part we need to figure out the total amount she deposited.
The total amount she deposited would be .
(c) We can find the interest earned by subtracting her contribution from the answer of part (a).
Interest earned =
2 + d = 2 - 3(d- 5) - 2
First, cancel 2 on both sides. / Your problem should look like:
Second, expand. / Your problem should look like:
Third, simplify -3d + 15 - 2 to get -3d + 13. / Your problem should look like:
Fourth, add 3d to both sides. / Your problem should look like:
Fifth, add d + 3d to get 4d. / Your problem should look like:
Sixth, divide both sides by 4. / Your problem should look like:
Answer as fraction:
Answer as decimal:
First, cancel 2 on both sides. / Your problem should look like:
Second, expand. / Your problem should look like:
Third, simplify -3d + 15 - 2 to get -3d + 13. / Your problem should look like:
Fourth, add 3d to both sides. / Your problem should look like:
Fifth, add d + 3d to get 4d. / Your problem should look like:
Sixth, divide both sides by 4. / Your problem should look like:
Answer as fraction:
Answer as decimal: