Tometeo wants to have $50,000 saved 15 years from now. How much must he deposit every month into an account that pays 2.8% interest, compounded monthly?

Step-by-step explanation:

The annuity formula is used for this.

  A = P((1+r/12)^(12t) -1)/(r/12)

gives the balance A resulting from payments P being compounded monthly at annual rate r. (Payments are made at the end of the month.)

  50,000 = P((1 +.028/12)^(12·15) -1)/(0.028/12) ≈ 223.378772P

  P ≈ 50,000/223.378772 ≈ 223.84

To achieve the desired balance, Tometeo must deposit $223.84 at the end of every month.

If Tometeo makes his deposits at the beginning of the month, then the amount is less by the interest earned for the month:

  $223.84/(1 +.028/12) ≈ $223.31 . . . . beginning of the month deposit amount

3

step-by-step explanation:

in standard form:

a= dictionaries

b= maps

you have to buy 3 dictionaries, so put a 3 next to the a (dictionaries) so that you can multiply them by each other.

a3+b= 60 (the amount of money you have)

we already know the cost of a=15 so replace a with $15

($15 x 3)+b=60

multiply 15 and 3 to get $45 and replace it with $45

45+b=60

and then replace b with 15 to get the total:

45+15=60

that means you have $15 left after buying 3 dictionaries.

15 divided by the cost of a map ($5) equals 3.

so you can buy 3 maps.

sorry if it was confusing!

step-by-step explanation:

if you meant, "on the way from (3, 2) to (3, 14):

x does not change; y increases by 12.

ensure that you have copied down this problem correctly.   .