Suppose you want to accumulate $25,000 as down payment on a house and the best you can do is to put aside $200 a month. If you deposit this amount at the beginning of each month in an account that credits 0.75% interest monthly, how long will it take you to attain your goal?

Answers

Answer 1

Answer:

It will take 88.2 months to accumulate the amount

Step-by-step explanation:

Given;

Future value of money, FV = $25,000

investment per compound period, P = $200

interest rate, i = 0.75% x 12 = 9%

The number of monthly installments required to amount to FV is given by;

[tex]n = \frac{ln(FVi +cp)-ln(cp)}{ln(c+i)-ln(c)}\\\\ n = \frac{ln(25000*0.09 +200*12)-ln(200*12)}{ln(12+0.09)-ln(12)}\\\\n = \frac{8.4446 -7.7832}{2.4924-2.4849}\\\\n = 88.2 \ months[/tex]

Therefore, it will take 88.2 months to accumulate the amount.


Related Questions

6h + 20 is greater than for equal to 100 in a real world problem

Answers

Answer:

im sorry whats the question

Step-by-step explanation:

Answer:

Example:

John has 6 baskets that contain "h" amount of apples. His mom gives 20 more apples to him. The sum of John's dad's apples is 100. Write an inequality showing how many baksets of apples John needs in order to have more apples than his dad.

simplify
the 6 is an exponent
(3x5)^6

Answers

11390625
Pls mark brainliest

Answer:

1/225

Step-by-step explanation:

I need the formula for calculating interest in APR.

Will give Brainliest

Answers

Answer:

To calculate APR, you can follow these 5 steps:

1. Add total interest paid over the duration of the loan to any additional fees.

2. Divide by the amount of the loan.

3. Divide by the total number of days in the loan term.

4. Multiply by 365 to find annual rate.

5. Multiply by 100 to convert annual rate into a percentage.

Don't know if you still need this, but thought I could help!

Jeremy is saving $250 per month for his vacation . How much will Jeremy save up for his vacation in 1 year and 6 months?

Answers

Answer:

The expression shows the number of dollars he will have saved by the end of the year is given by 35(7)+40(5)=\$44535(7)+40(5)=$445

Step-by-step explanation:

Since we have given that

Amount he saved per month over the first 7 months = $35

Amount he saved per month over the next 5 months = $40

So, total saving by the end of the year is given by

\begin{gathered}35\times 7+40\times 5\\\\=\$245+\$200\\\\=\$445\end{gathered}

35×7+40×5

=$245+$200

=$445

Hence, the expression shows the number of dollars he will have saved by the end of the year is given by

35(7)+40(5)=\$44535(7)+40(5)=$445

What is the value of (-5) the power of 4

Answers

Answer:

625

Step-by-step explanation:

(-5)^4 = 625

Which set of numbers does NOT contain 75?

Answers

Answer:

The one that doesn't contain 75

Step-by-step explanation:

uhh don't know

1400 = 2P x 52 x 7
Find the value of p.

Answers

Answer:

The answer is 25/13

Step-by-step explanation:

Answer:

1.923=p If you are rounding you can round to 1.9

Step-by-step explanation:

We must simply get P alone.

1400 = 2p*52*7

First we can multiply the integers

1400 = 2p*364

To get P alone we can divide by 364 on both sides

1400/364 = 2p

3.846 = 2p

Divide by 2 on both sides

3.846/2 = p

1.923 = p

4x - 12 +7x
4 is a(n) ___________________
x is a(n) ___________________
12 is a(n) __________________

How many terms are in the above expression?

Answers

Answer: 4 is a coefficient, because it's in front of a variable. x is a variable, because it's an unknown value. 12 is a constant, because it's just a value by itself. There are three terms: 4x, -12, and 7x.

Step-by-step explanation:

0=5y-x+5 in slope intercept form

Answers

Answer:

y=1/5x-1

Step-by-step explanation:

SI form is Y=mx+b

Answer: 1/5x-1
Hope it’s correct

18 less than a number

Answers

Answer:

Step-by-step explanation:

The answer is simple

18 - 1 = 17

Answer:

18<b

Step-by-step explanation:

b can repersent any number and you can use any letter in replace of b.

Hope this helps!

2. Tom Johnson worked 32 hours this week for $9.25 per hour. What is Tom’s gross pay for the week?

Answers

His pay for the week is 296

Answer:

$296.

Step-by-step explanation:

Gross pay is total pay without deductions, and none were mentioned anyways so $9.25 × 32 = $296.


Tim's mother, using the odometer in the car,
measured the distance between their house and
Tim's school to be 12.8 miles. Tim then
converted the distance in miles to inches, there
are 63,360 inches in each mile.
Which of the following values would be an
approximate and appropriate representation of
the distance in inches that Tim calculated?
A. 811,008 inches
B. 811,000 inches
C. 810,000 inches
D. 800,000 inches

Answers

Answer:

A

Step-by-step explanation:

the reason for this equations answer to be A is because if you take the inches in one mile 63,360 and multiple it by the miles that it takes to get the school 12.8 you'll get 811,008.  

A half marathon is a distance of 13.1 miles. Your teachers decides to run a half marathon and it takes about 2 hours. What is the average speed of your teacher?

Answers

Answer:

its 7

Step-by-step explanation:

GUYS WILL U PLS HELP ME I AM IN DESPERATE NEED OF iT!!!!!!!
Your Assignment
The most massive planet in the solar system, Jupiter, has a mass of about 1,898,000,000,000,000,000,000,000,000 kg.

The least massive planet is Mercury, which has a mass of about 330,000,000,000,000,000,000,000 kg.

How many times more massive is Jupiter than Mercury? Answer the questions to find out.

1. Estimate Jupiter's mass using a one-digit whole number times a power of 10. Be sure to include units.


Write your answer in the space below.















2. Estimate Mercury's mass using a one-digit whole number times a power of 10. Be sure to include units.


Write your answer in the space below.















3. Use your estimates to find out how many times more massive Jupiter is than Mercury. Express your answer in standard form (without using a power of 10). Show your work.


Write your answer in the space below.

Answers

Answer:

1)2 x 10^27 kg

2)3.30 x 10^23 kg

3)Jupiter is 5,751.51 times more massive than Mercury

Step-by-step explanation:

1)Mass of Jupiter is 2 x 10²⁷ kg.

2)Mass of mercury is 3.30 x 10²³ kg.

3)Jupiter is 5,751.51 times more massive than Mercury.

What is scientific notation?

Numbers that are either too large or too little to be conveniently stated in decimal form can be expressed using mathematical symbols.

1. Jupiter, has a mass of about 1,898,000,000,000,000,000,000,000,000 kg.

The scientific notation is:- 2 x 10²⁷ kg.

2. Mercury, has a mass of about 330,000,000,000,000,000,000,000 kg.

The scientific notation is:- 3.30 x 10²³ kg.

Divide Jupiter's mass by the mass of mercury.

Jupiter / Mercury =  2 x 10²⁷  / 3.30 x 10²³

Jupiter / Mercury = 5,751.51

To know more about scientific notations follow

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Finding the Zeroes of a Quadratic Function

x f(x) = −x2 + x + 6

−2 a

−1 4

0 b

1 6

2 c

a =


b =


c =

Answers

Answer:

-2 a

Step-by-step explanation:

 

Answer: stay steez up twin

· 100 · (0.7)3. (1 - 0.7)5-3?

Answers

Answer:
100•(0.7)3•(1-0.7)5-3
100•0.7•3•0.3•5-3
315-3
312

A field in the shape of a square has an area of 8,100 square feet . What is the length of 1 side of the field ?

Answers

Answer:

A) Find the square root of 8,100.

Step-by-step explanation:

Answer is above

what are the common factors of 24 and 36
a. 1,3,4,9,18
b. 1,2,3,4,6,12
c. 1,2,3,4,6,8,12
d .1,2,4,6,12

Answers

the answer is a i think

If 7x +10 = 44, what is the vallue of 7x – 50?

Answers

Answer:

7x-50 = -16

Step-by-step explanation:

7x + 10 = 44

x = 34/7

7(34/7) - 50 = -16


If f(x) = 2x + 1 and
g(x) = -(x - 1)² + 3 what is the smallest solution for f(x)=g(x)?

Answers

Answer:

The smallest solution is x=-1

Step-by-step explanation:

Quadratic Equation

We have:

[tex]f(x)=2x+1[/tex]

[tex]g(x)=-(x-1)^2+3[/tex]

We'll find the solutions of f(x)=g(x), or:

[tex]2x+1=-(x-1)^2+3[/tex]

Operating:

[tex]2x+1=-(x^2-2x+1)+3[/tex]

[tex]2x+1=-x^2+2x-1+3[/tex]

Rearranging all terms on the left side:

[tex]2x+1+x^2-2x+1-3=0[/tex]

Simplifying:

[tex]x^2-1=0[/tex]

Since the term with the x is missing, we can solve for x:

[tex]x^2=1\qquad\Rightarrow x=\sqrt{1}=\pm 1[/tex]

There are two solutions:

x=1, x=-1

The smallest solution is x=-1

How many planes pass through three or more vertices of a regular octahedron?

Answers

Answer:

The total number of planes = 23 planes

Step-by-step explanation:

The number of planes are give as follows;

The number of planes with three points, given that any three points of an octahedron forms a plane are ₆C₃ = 20

The number of distinct planes that has 4 points in the octahedron = 3

Therefore, the total number of planes are 20 + 3 = 23 planes.

Priya bought these items at the grocery store. Find each unit price. A. 12 eggs for $3. How much is the cost per egg? B. 3 pounds of peanuts for $7.50. How much is the cost per pound? C. 4 rolls of toilet paper for $2. How much is the cost per roll? D. 10 apples for $3.50. How much is the cost per apple?

Answers

Answer: A. Cost per egg = $4 .

B. Cost per pound = $ 2.5

C. Cost per roll = $ 0.5

D. Cost per apple = $0.35

Step-by-step explanation:

Formula: cost per item = (total cost) ÷ (number of items)

A. 12 eggs for $3.

Cost per egg = $ (12÷3) = $4

So, Cost per egg = $4 .

B. 3 pounds of peanuts for $7.50

Cost per pound of peanuts = $ (7.50 ÷ 3)= $ 2.5

So, Cost per pound = $ 2.5

C. 4 rolls of toilet paper for $2.

Cost per roll = $ (2 ÷4 ) = $ 0.5

So, Cost per roll = $ 0.5

D.  10 apples for $3.50.

Cost per apple = $ (3.50 ÷ 10)= $ 0.35

So,  Cost per apple = $0.35

a 4.5 pound of apples costs $22.50. how many pounds for a dollar?

Answers

Answer:

.2 lbs

Step-by-step explanation:

4.5/22.5

0.2 pounds as 4.5 / 22.5 = 0.2

Please help. I do not understand and I have limited time to do so

Answers

Answer:

D would be the answer

Step-by-step explanation:

since you have a positive 12 at the end of your equation(thats your y intercept 0,12) then you can eliminate A, B. Next you would plug in (-3,0) in your equation and see if it would work and it did so thats your answer. ( i know thats not the formal way to do it but its a shortcut i like to use ;)

A group of workers can plant 56 acres in 7 days what is their rate in acres per day?

Answers

The answer should be 8

Please help! I need to multiply these with step by step work (x^2+2x+8)(x^2-x+1)

Answers

Answer:

x^4+x³+7x²-6x+1

Step-by-step explanation:

(x²+2x+8)(x²-x+1)

distribute

x²(x²-x+1)

x^4-x³+x²

2x(x²-x+1)

2x³-2x²+2x

8(x²-x+1)

8x²-8x+1

x^4-x³+x²+2x³-2x²+2x+8x²-8x+1

combine like terms

x^4+x³+7x²-6x+1

F (2) =
(please give an explanation i'm confused)

Answers

Answer:

I think it would be like f x2 so you would reorder the term and get 2f

Step-by-step explanation:

w=4u + 3
Find the value of w when u=8

Answers

Answer:

35 You need to put 8 as w=4(8)+3 then you times 4 and 8 which equals 32 then you are going to add 32 with 3 to get 35

The value of W is 35 if we put u = 8 in the equation W = 4u + 3.

What is an equation?

An equation is a mathematical statement in algebra that consists of an equal symbol between two algebraic expressions with the same value.

How to solve this problem?

Given that W = 4u + 3.

In order to get the desired value, we have to put u = 8 in this equation.

Then W = 4 × 8 + 3 = 32 + 3 = 35

Therefore, the value of W is 35 if we put u = 8 in the equation W = 4u + 3.

Know more about equations here -

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what is f(x) = -2?

a. 3
b.8
c.4
d.0

Answers

Answer:

the answer is a.3!

Step-by-step explanation:

You can find this by finding the value -2 on the graph (x axis) and find what the corresponding y value is! in this case, it is 3.

I hope this helps let me know if you have any questions!

Kyree can run ⅓ of a mile in 2 minutes. How long does it take Kyree to run 1 mile?

Answers

Answer:

6 mins

Step-by-step explanation:

1 = 3/3

3/3 / 1/3 = 3/1 = 3

3 x 2 = 6

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