Mathematics, 19.07.2019 14:00 shradhwaip2426
In order to accumulate enough money for a down payment on a house, a couple deposits $300/month into an account paying 6% compounded monthly. if payments are made at the end of each period, how much money will be in the account in 5 years? what formula is required to complete this problem?
Answers: 1
![\bf ~~~~~~~~~~~~\textit{Future Value of an ordinary annuity}\\ ~~~~~~~~~~~~(\textit{payments at the end of the period}) \\\\ A=pymnt\left[ \cfrac{\left( 1+\frac{r}{n} \right)^{nt}-1}{\frac{r}{n}} \right]](/tpl/images/0108/1035/2fdf9.png)
![\bf A=300\left[ \cfrac{\left( 1+\frac{0.06}{12} \right)^{12\cdot 5}-1}{\frac{0.06}{12}} \right]\implies A=300\left[ \cfrac{(1.005)^{60}-1}{0.005} \right] \\\\\\ A=300(\stackrel{\approx}{69.770030509863214)}\implies A\approx 20931.009152958964](/tpl/images/0108/1035/96467.png)
Another question on Mathematics
Mathematics, 21.06.2019 12:50
What is the value of y in the solution to the system of equations? ïŋžx + ïŋžy = 12x â 3y = â30a. â8b. â3c. 3d. 8
Answers: 1
Mathematics, 21.06.2019 15:10
Can (2,3 and square root 10) be sides ona right triangle?
Answers: 1
Mathematics, 21.06.2019 22:00
Asquare and an equilateral triangle have the same perimeter. each side the triangle is 4 inches longer than each side of the square. what is the perimeter of the square
Answers: 1
Mathematics, 21.06.2019 22:30
Given that y varies directly to the square root of (x + 1), and that y = 1 when x = 8,(a)express y in terms of .x,(b)find the value of y when x = 3,(c)find the value of x when y = 5.
Answers: 1
You know the right answer?
In order to accumulate enough money for a down payment on a house, a couple deposits $300/month into...
Questions
History, 04.11.2021 19:50
Mathematics, 04.11.2021 19:50
Mathematics, 04.11.2021 19:50
English, 04.11.2021 19:50
Mathematics, 04.11.2021 19:50
Mathematics, 04.11.2021 19:50
Computers and Technology, 04.11.2021 19:50
Mathematics, 04.11.2021 19:50
Chemistry, 04.11.2021 19:50
