You want to purchase a new car in 6 years and expect the car to cost $94.000. Your bank offers a plan with a guaranteed APR of 55% if you make regular monthly deposits. How much should you deposit each month to end up with $94.000 in 6 years?

Monthly deposit= $1,120.81

Step-by-step explanation:

Giving the following information:

Future value= $94,000

Number of periods= 6*12= 72

i= 0.05/12= 0.0042

To calculate the monthly deposit, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (94,000*0.0042) / [(1.0042^72) - 1]

A= $1,120.81

70

step-by-step explanation:

2*5=10

4*15=60

60+10=

70

proportions are fractions that equal to each other. so if two fractions are the same, they are proportional.

let's check the answers to see if they are proportional.

question a is not proportional because you can't turn 1.5/3 to 3/9. if you try to multiply 1.5/3 by 2 or 3, you wont get 3/9. it's impossible to make the fractions the same.

question b is not proportional because you can't turn 22/33 to 4/6. 33 can't go into 6.

question c is proportional because when you multiply 2 and 3 by 71, you would get 142/213, and those fractions equal to each other

question d is proportional because when you divide 14 and 7 by 2, you would end up with 7/3.5, and those fractions equal to each other.