Six years from today you need $10,000. you plan to deposit $1,500 annually, with the first payment to be made a year from today, in an account that pays an 8% effective annual rate. your last deposit, which will occur at the end of year 6, will be for less than $1,500 if less is needed to reach $10,000. how large will your last payment be?

Answers

Answer 1
Like this variation of the problem! :)

We calculate the future value of the 6 annual deposits of $1500 at 8%:
F=1500(1.08^6-1)/(0.08)=11003.89
Since the last payment is due on the day of withdrawal, he would have paid $1500 to get back $11003.89, i.e. with an excess of 1003.89.
Therefore his last payment is 1500-1003.89=$496.11
Answer 2

Amount of last payment is approximately $497

Given that;

Number of year = 6 year

Annual deposit = $1,500

Annual rate = 8% = 0.08

Find:

Amount of last payment

Computation:

[tex]Future\ value = Annual\ deposit[(1+r)^n - 1]/r[/tex]

[tex]Future\ value\ of\ the\ 6\ annual\ deposits = 1500[\frac{(1+0.08)^6 - 1}{0.08}][/tex]

[tex]Future\ value\ of\ the\ 6\ annual\ deposits = 1500[(1.08)^6 - 1]/0.08\\\\Future value of the 6 annual deposits = 1500[0.58687]/0.08[/tex]

Future value of the 6 annual deposits = 11,003.25

Future value of the 6 annual deposits = $11,003 (Approx.)

Extra payment = 11,003 - 10,000

Extra payment = $1,003

So,

Amount of last payment = 1,500-1,003

Amount of last payment = $497

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Related Questions

Use the direct variation equation y=x/4 to solve for x when y =60

Answers

We have to solve for x when the equation is y = x / 4 and y = 60. We will charge y = 60 into the function:
60 = x / 4
or:
60 = x : 4
x = 60 * 4
Answer:  x = 240

For his long long distance phone service Chris pays a $6 monthly fee plus 8 cents per minute. Last month, Chris's long distance bill was $11.52. For how many minutes was Chris billed

Answers

total bill would be X=6.00 +0.08m

where m = minutes

X = total bill

so 11.52 = 6.00+0.08m

subtract 6 from each side

5.52 = 0.08m

 now divide both sides by 0.08

5.52/0.08 = 69

 he was billed for 69 minutes.


Identify each statement as true or false, show how you would rewrite it to make it a statement.

Answers

1. false= 3•2+3•4
2. true
3. false= 7•20+7•8
4. false= 4•5+4•10
5. true

Traveling at 65 miles/hour, how many feet can you travel in 22 minutes? How do you know?

Answers

65 miles per hour


feet in a mile: 5,280 ft


65 divided by 60= 1.08 miles per minute

22 x 1.08 = 23.76 miles

23.76 mi x 5,280 ft = 125,452.8 ft in 22 minutes
keeping in mind that there are 5280 feet in 1 mile, and 60 minutes in 1 hour.

[tex]\bf \cfrac{65~\underline{miles}}{\underline{hr}}\cdot \cfrac{5280~ft}{\underline{miles}}\cdot \cfrac{\underline{hr}}{60~min}\implies \cfrac{65\cdot 5280~ft}{60~min}\implies \cfrac{343200~ft}{60~min} \\\\\\ 5720\frac{ft}{min}[/tex]

now, if you can do 5720 feet in 1 minute, how many can you travel in 22 minutes?

well, just 22 * 5720.

Look at the quadratic equation below. x2 - 10x + 16 = -5 What is this quadratic equation written in standard form? A.5x2 + 10x - 16 = 0 B.5x2 - 10x + 16 = 0 C.x2 - 10x + 11 = 0 D.x2 - 10x + 21 = 0

Answers

ax^2+bx+c=0 is the standard form, so we add 5 to both sides to get 

1*x^2+(-10)x+21=0

car rental in Thailand cost $35 per day when booked in advance. If rented locally you would be charged 1800 bahts per day. If the exchange rate is 40 bahts equals $1 how much cheaper is it to book in advance

Answers

40 bahts = $ 1.....so 1800 bahts = 1800/40 = $ 45

book in advance = $ 35

so it is (45 - 35) = $ 10 bucks cheaper to book in advance

Answer:

advance booking is cheaper by 400 bahts or $10.

Step-by-step explanation:

Car rental cost in advanced booking = $35 per day

and

when the rented locally it is charged = 1800 bahts per day

it is given that,

$1 is equal to 40 bahts.

now,

Car rental cost in advanced booking =  35  × 40

                                                              = 1400 bahts

hence, when booking is done advance

  the cost is cheaper  by  1800 - 1400 = 400 bahts

hence, advance booking is cheaper by 400 bahts or $10.

What are the domain and range of f(x)=1/5x

Answers

Domain: -∞<x<∞
Range: -∞<y<∞

(-) stands for negative

Draw a quadrilateral with the given description

A rhombus with 6-centimeter sides and two 80 degree angles

Answers

By definition, a quadrilateral is a general term for a parallelogram and a rhombus. They are both 4-sided two-dimensional shapes with two sets of parallel sides. However, a rhombus is a special case. It has equal sides. Consequently, all its angles are equal. Therefore, the resultant drawing is alike to what's in the attached picture. But technically, all its sides are equal to 6 cm and all its angles are equal to 80°.

Answer:

Step-by-step explanation:

By definition, a quadrilateral is a general term for a parallelogram and a rhombus. They are both 4-sided two-dimensional shapes with two sets of parallel sides. However, a rhombus is a special case. It has equal sides. Consequently, all its angles are equal. Therefore, the resultant drawing is alike to what's in the attached picture. But technically, all its sides are equal to 6 cm and all its angles are equal to 80°.

You have $36,948.61 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your account totals $280,000. you expect to earn 11% annually on the account. how many years will it take to reach your goal? round your answer to two decimal places at the end of the calculations.

Answers

Current amount in account
P=36948.61

Future value of this amount after n years at i=11% annual interest
F1=P(1+i)^n
=36948.61(1.11)^n

Future value of $3000 annual deposits after n years at i=11%
F2=A((1+i)^n-1)/i
=3000(1.11^n-1)/0.11

We'd like to have F1+F2=280000, so forming following equation:
F1+F2=280000
=>
36948.61(1.11)^n+3000(1.11^n-1)/0.11=280000

We can solve this by trial and error.


The rule of 72 tells us that money at 11% deposited will double in 72/11=6.5 years, approximately.
The initial amount of 36948.61 will become 4 times as much in 13 years, equal to approximately 147800 by then.
Meanwhile the 3000 a year for 13 years has a total of 39000.  It will only grow about half as fast, namely doubling in about 13 years, or worth 78000.
Future value at 13 years = 147800+78000=225800.
That will take approximately 2 more years, or 225800*1.11^2=278000.

So our first guess is 15 years, and calculate the target amount
=36948.61(1.11)^15+3000(1.11^15-1)/0.11
=280000.01, right on.

So it takes 15.00 years to reach the goal of 280000 years.

4^2(2^3-3)^1+8(2-1)^10

Answers

Hello Brainly User.

You must use PEMDAS 
4^2(2^3-3)^1+8(2-1)^10
4^2(5)^1+8(1)^10
16(5)+8(1) 
80+8
88

Feel free to contact me with your questions. I am more than happy to help. :)

Which of the following nonlinear inequalities is graphed below? Picture included below!! PLEASE HELP ASAP!

Answers

I think it is A, cause the horizontal axis is 4 (x), and the vertical axis is 8 (y)
and then the <= means that it is inside the ellipse

Answer:

The correct option is A.

Step-by-step explanation:

The general form of an ellipse is

[tex]\frac{x^2}{a^2}+\frac{y^2}{b^2}=1[/tex]

Where, (0,0) is the center of ellipse, (±a,0) are x-intercepts and (0,±b) are y-intercepts.

From the given graph it is clear that the center of ellipse is (0,0), (±2,0) are x-intercepts and (0,±4) are y-intercepts. So, the equation of ellipse is

[tex]\frac{x^2}{(2)^2}+\frac{y^2}{(4)^2}=1[/tex]

[tex]\frac{x^2}{4}+\frac{y^2}{16}=1[/tex]

The shaded region is inside the ellipse, (0,0) lie in the solution set and the points lie on the ellipse are included in the solution set, therefore the sign of inequality is ≤.

[tex]\frac{(0)^2}{4}+\frac{(0)^2}{16}\leq 1[/tex]

[tex]0\leq 1[/tex]

This statement is true. The required inequality is

[tex]\frac{x^2}{4}+\frac{y^2}{16}\leq 1[/tex]

Therefore, the correct option is A.

A manufacturer knows that their items have a normally distributed lifespan, with a mean of 2.4 years, and standard deviation of 0.7 years. the 8% of items with the shortest lifespan will last less than how many years? give your answer to one decimal place.

Answers

To solve this problem, we make use of the z statistic. We are to look for the bottom 8% who has the shortest lifespan, this is equivalent to a proportion of P = 0.08. Using the standard distribution tables for z, the value of z corresponding to this P value is:

z = -1.4

 

Now given the z and standard deviation s and the mean u, we can calculate for the number of years of the shortest lifespan:

x = z s + u

x = -1.4 (0.7) + 2.4

x = -0.98 + 2.4

x = 1.42 years

 

Therefore the life span is less than about 1.42 years

Which system is equivalent to
y= 9x^2
x+y=5
?

Answers

Answer : Option A

Explanation:

we can clearly see that from x+ y=5 we can substitute  y = 5-x in y = 9x^2

Option B is clearly incorrect  x can not be y -5

Option C  is incorrect because y can not be 5 +x

Option D is incorrect because  its y = 9x^2 not y^2 =9x^2 so y can not be 3x

if its y^2 = 9x^2 then  only  implies y =  3x

Answer:

Option 1st is correct

[tex]5-x= 9x^2[/tex]

[tex]y = 5-x[/tex]

Step-by-step explanation:

Given the equations:

[tex]y = 9x^2[/tex]      .....[1]

[tex]x+y = 5[/tex]         .....[2]

We can write equation [2] as:

[tex]y = 5-x[/tex]

Now, substitute this y value in [1] we have;

[tex]5-x= 9x^2[/tex]

Therefore, the system which is equivalent to the given system equation is,

[tex]5-x= 9x^2[/tex]

[tex]y = 5-x[/tex]

How to factor 4(x+5)^3(x-1)^2-(x+5)^4 • 2 (x-1) by grouping?

Answers

[tex]\bf 4(x+5)^3(x-1)^2-(x+5)^4\cdot 2(x-1) \\\\\\ 4(x+5)^3(x-1)^2-2(x-1)(x+5)^4 \\\\\\ \underline{2}\cdot 2\underline{(x+5)^3}(x-1)\underline{(x-1)}~-~\underline{2}\underline{(x-1)}(x+5)\underline{(x+5)^3}\leftarrow \begin{array}{llll} notice~the\\ common\\ \underline{factors} \end{array} \\\\\\ 2(x+5)^3(x-1)~[~2(x-1)-(x+5)~] \\\\\\ 2(x+5)^3(x-1)~[2x-2-x-5]\implies 2(x+5)^3(x-1)(x-7)[/tex]

if 3×1=34 2×3=65 6×1=67 5×4=209 then 6×3=

Answers

189.

3*1=34 --> split this into two parts. 3*1 is 3 and 3+1 is 4 so put them together and you get 34.

Answer:

189 is the answer

Step-by-step explanation:

find the sum
5^71+5^72+5^73=?

Answers

OK: 1312901068244165525555899876053445041179656982421875
What is the purpose??

A teacher has 3 hours to grade all the papers submitted by the 35 students in her class. She gets through the first 5 papers in 30 minutes. How much faster does she have to work to grade the remaining papers in the allotted time/4347395/f56da09a?utm_source=registration

Answers

The current grading rate is
(30 minute)/(5 papers) = 6 minutes/paper.

She has 3 hours (or 180 minutes) to grade 35 papers.
She now has 180 - 30 = 150 minutes left, and she has  35- 5 = 30 papers left.

The remaining grading rate is
(150 minutes)/(30 papers) = 5 minutes/paper

Therefore she must work at 1 minute/paper faster to complete grading 35 papers in 3 hours.

Answer: She should work faster at an increased rate of  1 minute per paper.

24x2+25x−47=(−8x−3)(ax−2)−53

Answers

hello : 
the question is : find : a 
24x²+25x−47=(−8x−3)(ax−2)−53
                      = -8ax²+16x-3ax +6-53
                       =  -8ax²+16x-3ax  - 47

24x²+25x−47= -8ax² + (16-3a)x -47
so : -8a = 24
       16-3a =25
a = 24/-8 = -3
16-3(-3) =25...right
conclusion : a = = -3

Sixty dash fivesixty-five percent of households say they would feel secure if they had? $50,000 in savings. you randomly select 88 households and ask them if they would feel secure if they had? $50,000 in savings. find the probability that the number that say they would feel secure is? (a) exactly? five, (b) more than? five, and? (c) at most five.

Answers

 To solve the following problems, we use the binomial probability equation:

P (r) = [n!/(n-r)! r!] p^r q^(n-r)

where,

n = total number of households = 8

r = number of sample

p = probability of success = 65% = 0.65

q = probability of failure = 0.35

 

A. r = 5

P (r=5) = [8! / 3! 5!] 0.65^5 0.35^3

P (r=5) = 0.28

 

B. r >5

P (r=6) = [8! / 2! 6!] 0.65^6 0.35^2

P (r=6) = 0.26

P (r=7) = [8! / 1! 7!] 0.65^7 0.35^1

P (r=7) = 0.14

P (r=8) = [8! / 0! 8!] 0.65^8 0.35^0

P (r=8) = 0.03

Therefore total is:

P (r>5) = 0.26 + 0.14 + 0.03 = 0.43

 

C. r ≤ 5

P (r ≤ 5) = 1 - P (r>5)

P (r ≤ 5) = 1 – 0.43

P (r ≤ 5) = 0.57

 

 

A plane flew for 4 hours heading south and for 6 hours heading east. If the total distance traveled was 3,370 miles, and the plane traveled 45 miles per hour faster heading south, at what speed was the plane traveling east?

Answers

We know the total distance and individual times, so we can sum and equate total distance.

Let
E=speed heading east
E+45=speed heading south
then
4(E+45)+6E=3370 miles
Solve for E:
4E+180+6E=3370
10E=3370-180=3190 mph
E=319 mph.

The plane was traveling at 319 miles per hour heading east. This was determined by setting up equations for the distances covered in both directions, considering the speed difference, and solving for the eastward speed.

To find the speed at which the plane was traveling east, we need to set up two equations based on the given information.

Let's denote the speed of the plane heading east  [tex]v_e[/tex] and the speed of the plane heading south [tex]v_s[/tex]. According to the problem, [tex]v_s[/tex] = [tex]v_e[/tex] + 45 mph. We also know that the plane flew south for 4 hours and east for 6 hours, covering a total distance of 3,370 miles.

To represent the sum of distances covered in both directions, we use the equation:

4[tex]v_s[/tex] + 6[tex]v_e[/tex] = 3,370

Substituting [tex]v_s[/tex] with [tex]v_e[/tex] + 45 in the equation yields:

4([tex]v_e[/tex] + 45) + 6[tex]v_e[/tex] = 3,370

By simplifying and solving for [tex]v_e[/tex], we find the speed of the plane traveling east. Let's solve it step by step:

4[tex]v_e[/tex] + 180 + 6[tex]v_e[/tex] = 3,370

10[tex]v_e[/tex] + 180 = 3,370

10[tex]v_e[/tex] = 3,190

[tex]v_e[/tex] = 319 mph

Therefore, the plane was traveling at 319 miles per hour heading east.

Identify the domain of the exponential function shown in the following graph: (2 points) Exponential graph starting at point 0, 30000 and approaching the x axis as it moves left to right. Select one: a. all real numbers b. x ≥ 0 c. 0 ≤ x ≤ 30,000 d. 7 ≤ x ≤ 30,000

Answers

b. x>=0
You don't say it terminates but goes to infinity, therefore all values of x>=0 is the domain

Answer: b. [tex]x\geq 0[/tex] , where x is the positive real numbers.

Step-by-step explanation:

We Know that, The Set of all Possible values of independent variable is called Domain of the function.

Since, Exponential graph starting at point (0, 30000),

Thus, the initial value of value of independent variable is 0.

Also,  The given exponential function is approaching the x axis as it moves left to right.

Therefore, The Domain must contain the all positive real numbers.

Thus, the Domain of the given function is [tex]x\geq 0[/tex] , where x is the positive real numbers.

Therefore, Option b is correct.

for 2 hours, Lia drove at the speed of 60 mph ,and for the next 3 hours,at the speed of 50mph.What was Lia's average speed during this trip

Answers

[tex]\bf \begin{array}{ccllll} hours&speed\\ \text{\textemdash\textemdash\textemdash}&\text{\textemdash\textemdash\textemdash}\\ 1&60\\ 2&60\\ 3&50\\ 4&50\\ 5&50 \end{array}\qquad \textit{average speed}\implies \cfrac{60+60+50+50+50}{5}[/tex]

How can you use integers to represent the velocity and the speed of an object?

Answers

1)The SPEED of an object tells us how fast this object is moving, bit it doesn't indicate the direction of :
Speed = distance/time

2) The VELOVITY of an object tells us how fast this object is moving and in which direction it's moving ( If UP, then it's positive. If DOWN, then it's negative. Same logic for moving right (+) or left (opposite to right, then -) 
Velocity = distance/time

In short te absolute value of Velocity = Value of speed:

| Velocity | = Speed 

Find the area of the shaded segment. Round your answer to the nearest square centimeter. Will make brainliest answer if correct :)

Answers

First find the area of the circle using A=pi*r^2
pi*36
Then divide this by 4 because the shaded region is 1/4 of the circle
(36*pi)/4=9*pi
Final answer: B

A salesperson earns a base salary of $36,000 plus 2 1/2% commission on sales. His total sales for one year was $500,000. Find the salesperson's total pay for that year.

Answers

The answer would be 48,500. 
Final answer:

To calculate the salesperson's total annual pay, we add the commission earned from the total sales to the base salary. The commission is $12,500, and the base salary is $36,000, resulting in a total pay of $48,500.

Explanation:

The question asks us to determine the total pay for a salesperson with a base salary and a commission percentage on total sales. To find the salesperson's total pay for a year, we calculate the commission earned from total sales and add it to the base salary. The salesperson's commission is 2 1/2% of $500,000, which can also be written as 0.025. We calculate the commission by multiplying 0.025 by $500,000, which equals $12,500. Therefore, the total pay for the salesperson for that year is the sum of the base salary of $36,000 plus the commission of $12,500, which gives us $48,500.

Mr. Wu is going to stock the concession stand for the Little League playoffs. He knows he will need at least twice as many hamburger buns as hotdog buns. Hamburger buns cost $0.45 each, and hotdog buns cost $0.40 each. He cannot spend more than $60 on buns. If x = the number of hamburger buns and y = the number of hotdog buns, which system of inequalities could be used to determine how many of each kind of bun Mr. Wu should purchase for the stand?

Answers

x = burger buns and y = hot dog buns

0.45x + 0.40y < = 60
x > = 2y

The system of inequalities to determine the number of hamburger and hotdog buns Mr. Wu should purchase is x \\geq 2y for the quantity requirement, and 0.45x + 0.40y \\leq 60 for the budget constraint.

To determine how many hamburger buns (x) and hotdog buns (y) Mr. Wu can purchase for the concession stand, we need to set up a system of inequalities based on the given conditions. Since he needs at least twice as many hamburger buns as hotdog buns, we can express this requirement as an inequality: x \\geq 2y. Additionally, considering the cost of hamburger buns is $0.45 each and hotdog buns are $0.40 each, the total spending should not exceed $60. This gives us a budget constraint inequality: 0.45x + 0.40y \\leq 60. Therefore, the system of inequalities that can be used to determine the number of each kind of bun Mr. Wu should purchase is:

x \\geq 2y0.45x + 0.40y \\leq 60

jane drinks 3 1/2 pints of milk a day. how much is this in cups?

Answers

Hey there!

So what we need to know first is how many cups are in a pint...

1 pint = 2 cups 

So now we can set this up as a ratio or a fraction... then give the value of cups a variable (x)

1:2 = 3.5:x
x = 7 cups      <----- That's your answer!  

I hope this helps! :D

Please vote me for Brainliest if there is a second answer! ^__^

Find the quotient of 3 1/8 and 1 2/7 .

Answers

The answer is 2 because you have to 3 1/8 and 1 2/7

Jean-pierre consumes only apples and bananas. he prefers more apples to less, but he gets tired of bananas. if he consumes fewer than 28 bananas per week, he thinks that one banana is a perfect substitute for one apple. but you would have to pay him one apple for each banana beyond 28 that he consumes. the indifference curve that passes through the consumption bundle with 31 apples and 40 bananas also pass through the bundle with x apples and 23 bananas, where x equals:

Answers

Bundle (31 , 40) has 40 bananas.
So 40 - 28 = 12 bananas
These 12 banana give the consumer negative utility which will be balance one for one apple.
So we have to need 12 apple to balance it.
So the final utility of apples and banana is 28 + (31 - 12) = 28 + 19 = 43
In second bundle (X , 23) has 23 bananas. We need to get the same utility 43.
Which we will get from 43 - 23 = 20 apples.
So X equal to 23.

Reducing the original price of an item is often called

Answers

Should be markdown, but if you have other options let me know and I'll tell you which it is.  But if markdown is one of your choices, or if this is fill-in, it's markdown.

Answer:

Price reduction.

Step-by-step explanation:

The act of reducing the selling price of products in order to attract costumers is called Price Reduction. This comprehends a marketing strategy.

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