1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nordsb [41]
2 years ago
8

Suppose if, instead of depositing the $600 all at once, you deposit nothing at the beginning and you divide up the $600 into 12

envelopes each with $50. Find the balance after one year if you deposit one $50 envelope each month, all year, into an account that pays 5% APR with monthly compounding.
Mathematics
1 answer:
AlekseyPX2 years ago
7 0

The balance after one year if you deposit one $50 envelope each month, all year is  $613.95.

<h3>What is the balance after one year?</h3>

The balance after 1 year can be determined using this formula:

Amount deposited monthly x annuity factor

Annuity factor = {[(1+r)^n] - 1} / r

Where:

  • r = interest rate = 5% /12 = 0.417%
  • n = number of years = 1 x 12 = 12

Annuity factor = 1.004167^12 - 1 / 0.00417 = 12.279082

Balance = 12.279082 x 50 = $613.95

To learn more about annuities, please check: brainly.com/question/24108530

You might be interested in
Huddson has practiced a 360-back flip for months. This week, he did it perfectly 24 out of 54 times. At this rate, how many time
iris [78.8K]
Let x = perfect flips out of nine
\frac{24}{54}  =  \frac{x}{9}
54x = 216
x = 4
4 flips
5 0
3 years ago
Dan says he ran twice as far as Karim what possiblities for the distance they each could run
Lelechka [254]
If Karim ran one mile, Dan ran two miles.
If Karim ran three miles, Dan ran six miles.
5 0
3 years ago
Let's Check In
crimeas [40]

Answer:

I need more info about the shape were making but I think C is the answer.

Step-by-step explanation:

I'll be honest Im confused. Im going to assume  your finding the third side of triangle and if so here is my answer.

Side GH must be between 3.5 and 23.1 not inclusive because 13.3+9.8= 23.1 and that would be the length if the line is a straight line, and the minimum is 13.3-9.8= 3.5 and that is only if the lines overlap. That only leaves C as the answer within the range.

8 0
3 years ago
Standard form. (x+8)(x−6)
vovikov84 [41]

Answer:

x² + 2x - 48

Step-by-step explanation:

( x + 8 ) ( x - 6 )

=  x ( x - 6 ) + 8 ( x - 6 )

= x*x - 6*x + 8*x + 8*( - 6 )

= x² - 6x + 8x  - 48

= x² + 2x - 48

4 0
1 year ago
Read 2 more answers
As fast as possible before today
andrezito [222]

I am writing answers directly.

<h3>1. 5×5=5 {}^{2}</h3><h3>2. -5×-5×-5×-5 = ( - 5) {}^{4}</h3><h3 /><h3>3. 2×2×2=2 {}^{3}</h3><h3>4. n×n×n×n×n×n=n {}^{6}</h3>
6 0
2 years ago
Other questions:
  • Robert buys 4 pounds of cauliflower at $0.85 a pound. He also buys 4 pounds of brussels sprouts. If he spends $6.40 on the veget
    8·2 answers
  • Solve the inequality showing all steps needed to justify your answer. State your solution in interval notation
    12·1 answer
  • Given the triangle below, which of the following is a correct statement?
    10·2 answers
  • What's the vertex of the following equation<br> x² - 6x + 5
    10·1 answer
  • Simplify 7^6 ⋅ 7^5
    15·2 answers
  • Salma bought  n  packs of pencils. Each pack has  15  pencils. Write an equation to represent the total number of pencils  p  th
    8·1 answer
  • W+w+w+6/3+4(-3/4w+7)=9w-(3w-10)<br> What is w?
    15·1 answer
  • Hi! I'm 12 years old trying to move up in maths, does anyone have any tips about any one of these topics?
    12·1 answer
  • Joaquin and Trisha are playing a game in which the lower median wins the game. Their scores are shown below. Joaquin’s scores: 7
    10·1 answer
  • The Copper river school district collected data about class size in the district.The table shows the class sizes for five random
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!