How much money should be deposited today in an account that earns 8% compounded monthly so that it will accumulate to 13,000 tho
usand and three years? PLEASE HELP
1 answer:
Answer:
$10,234.31
Step-by-step explanation:
A suitable financial calculator or spreadsheet can evaluate the future value function for you. It will tell you that $10,234.31 must be deposited today to have $13,000 in three years, when interest is 8% compounded monthly.
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You are solving for P:
13000 = P(1 +0.08/12)^(12×3)
P = 13000/(1 +0.08/12)^36 ≈ 10,234.31
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Answer:
a) Not parallel to y-axis
b) Not parallel to y-axis
c) Parallel to y-axis
Step-by-step explanation:
The best way to check whether a line passing through two points is parlle to y-axis is by plotting them on graph.
The equation of line:
a) The line joining the points (4,12) and ( 6,12) is not parallel to y-axis.
It is parallel to x-axis. Another two points that can lie on this line are : (5,12) and (,12).
b) The line joining the points is not parallel to y-axis.
Equation of line:
Another points that could be lie on this line are (0.6,2) and (0.25,1.475)
c) The line joining the points is parallel to y-axis because points have the same x-coordinate.
Another points that could be lie on this line are (0.8,2) and (0.8,2.1)
The sequence will be
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