WILL GIVE BRAINLIEST IF ANSWERED PROPERLY :
1 answer:
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Given:
• Amount to save, A = $28,000
,• Time, t = 6 years
,• Interest rate, r = 5.3% ==> 0.053
,• Number of times compounded = quarterly = 4 times
Let's find the amount that must be deposited into the account quarterly.
Apply the formula:
Where:
FV is the future value = $28,000
r = 0.053
n = 4
t = 6 years
Thus, we have:
Let's solve for P.
We have:
Solving further:
Divide both sides by 28.0384237:
Therefore, the amount that must be deposited quarterly into the account is $998.60
ANSWER:
$998.60
Answer:
$42
Step-by-step explanation:
This is an example of a percentage decrease.
To work out the percentage decrease you would first need to convert the percentage of 25% into a decimal. You can do this by dividing the percentage of 25 by 100, this gives you 0.25. This is because percentages are out of 100.
The next step is to minus 0.25 from 1, this gives you 0.75. This is because we are working out the percentage decrease.
To work out the discounted price you would multiply the amount of $56 by 0.75, this gives you $42.
1) Divide 25 by 100.
2) Minus 0.25 from 1.
3) Multiply $56 by 0.75.