Answer:
If you're asking how much he deposited at the bank the answer would be 65.
Explanation:
88 - 23 = 65
Answer:
(a) The required recurrence relation for the salary of the employee of n years after 2009 is
.
(b)The salary of the employee will be $83421.88 in 2017.
(c) 
Step-by-step explanation:
Summation of a G.P series
(a)
Every year the salary is increasing 5% of the salary of the previous year plus $1000.
Let
represents the salary of the employee of n years after 2009.
Then
represents the salary of the employee of (n-1) years after 2009.
Then 



The required recurrence relation for the salary of the employee of n years after 2009 is
.
(b)
Given, 

Since 2017 is 8 years after 2009.
So, n=8.
∴ 



















≈$83421.88
The salary of the employee will be $83421.88 in 2017.
(c)
Given, 

We successively apply the recurrence relation






...............................
.................................







Answer:
$318,972.30
Step-by-step explanation:
The total of 360 payments will be $318,972.30.
___
A financial calculator or app is useful for answering questions like this. Most spreadsheets have functions that will serve the same purpose.
_____
You may be given a formula for computing the monthly payment (A) from the principal (P), the annual interest rate (r) and the number of years (t). It might look like this:
A = P·(r/12)/(1 -(1 +r/12)^(-12·t))
Filling in the given numbers, you get ...
A = 154,850·(0.0557/12)/(1 -(1 +0.0557/12)^-360) ≈ 886.034154
Then the value of 360 such payments is ...
P+I = 360·886.034154 ≈ 318,972.30
___
In practice, the final payment will be different from the rest, to make up for the fact that the value of each payment was rounded down to the nearest cent. Rather than try to figure the amount of that payment, we have used a more precise value for the monthly payment and have assumed that doing so will give approximately the same total as the sequence of actual payments. (Our number here is about $2.34 low.)
Original balance minus Minimum required= Transfer amount
$450 - $215= $235
You can transfer $235.
The answer is C) $235.
Hope this helps! :)
Answer:
Yes you did it correctly
Step-by-step explanation:
the answer is
