You expect to receive $34,000 at graduation in two years. you plan on investing it at 10 percent until you have $169,000.
how long will you wait from now?

You have to wait for 19 years

Step-by-step explanation:

expected money to be receive =  $34,000

rate of interest = 10 %

Amount to be received = $169,000

time = ?

taking log both side

t × ln (1.1) = ln (4.97)

t = 16.82

t = 17 (approx.)

so, he have to wait for 17 + 2 = 19 years .

answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

answer:

your answer is: c. 196 7/8 in^3.