You have to create your own word problem based off what Uu guys learned in class
Answer:
$12,137.39
Step-by-step explanation:
Use the Compound Amount formula:
A = P (1 + r/n)^(nt), where r is the interest rate as a decimal fraction, n is the number of times the interest is compounded each year, and t is the number of years.
Here, A = $9000(1 + 0.075/12)^(12*4), or
= $9000(1.3486) = $12,137.39
Answer:
The answer of this question is 50
<span>Since Jeff is paying an annual amount of $744 he needs to set aside 12 monthly payments for the year. To figure out how much each payment would be you divide the total for the year 744 by the number of months 12. $744/12=$62 Each monthly payment would be $62</span>
