Business, 25.11.2020 01:00 reginaldlegette

You are saving money for a down payment on a new house. You intend to place $7,500 at the end of each year for three years into an account earning 5% per year. At the end of the fourth year, you will place $10,000 into this account. How much money will be in the account at the end of the fourth year?

Answers: 1

Show answers

Answers

Answer from: Tenika1

$37,848.9

Explanation:

We can use the interest rate formula to figure out how much is in the account after the first 3 years. The interest rate formula is show below:

A = P (1 + r)^t

Let me delineate what each part of this equation means:

A = The total amount

P = The initial amount of money put into the account

R = the interest rate

T = Time

The equation gives us the following:

You place $7,500 each year for three years The interest rate is 5%At the end of the 4th year $10,000 will be placed in the account

First, let's calculate the P in the equation.

You put $7,500 each year for 3 years, so multiply 7,500 by 3.

(7,500) * (3) = 22,500

Next, let's start putting everything into the equation, like this:

A = 22,500(1 + .05)^3

(When doing interest rate you have to move the decimal over twice)

Now that we have the equation, let's solve it!

$A = 22,500(1.05)^3\\A = 22,500(1.15763)\\A = 26,046.6$

After 3 years $26,046.6 is in the account.

But, don't forget the last part of the question!

But you have a fourth year too!

Add the $10,000 onto the $26,046.6

That equals $36,046.6.

Lets plug this back into the equation for the final year

$A = 36046.6(1.05)^1\\A = 37848.9$

Thus, the final answer will be $37,848.9

Hope this helps!

- Kay :)

Answer from: Quest

explanation:

Answer from: Quest

bd = 9 cm

step-by-step explanation:

in a 30°-60°-90° triangle, the ratio of side lengths is 1 : √3 : 2. that is, the longest side (hypotenuse) is twice the length of the shortest side.

all of the triangles in your geometry are 30°-60°-90° triangles. ac is the hypotenuse of δacd, and the short side of δabc.

the short side ad of δacd will be half the length of ac, so 3 cm. the hypotenuse ab of δabc will be twice the length of ac, so 12 cm. segment bd is the difference of the lengths ab and ad, so is

bd = ab -ad

bd = 12 cm - 3 cm = 9 cm

comment on side length ratios

you can figure the ratios of side lengths in a 30°-60°-90° triangle by considering the trig ratios of the angles. or you can figure the length of the altitude of an equilateral triangle of side length 2 using the pythagorean theorem.

Another question on Business

Business, 22.06.2019 11:00

The following information is available for ellen's fashions, inc. for the current month. book balance end of month $ 7 comma 000 outstanding checks 700 deposits in transit 4 comma 500 service charges 120 interest revenue 45 what is the adjusted book balance on the bank reconciliation?

Answers: 2

Answer

Business, 22.06.2019 17:50

Abc factory produces 24,000 units. the cost sheet gives the following information: direct materials rs. 1,20,000direct labour rs. 84,000variable overheads rs. 48,000semi variable overheads rs. 28,000fixed overheads rs. 80,000total cost rs. 3,60,000presently the product is sold at rs. 20 per unit.the management proposes to increase the production by 3,000 units for sales in the foreign market . it is estimated that semi variable overheads will increase by rs. 1,000. but the product will be sold at rs. 14 per unit in the foreign market. however, no additional capital expenditure will be incurredq-1. what is present profit of the company ? q-2. what is proposed profit of the company in new market? q-3.what is suggestion for new makret proposal whether proposal accept or not

Answers: 1

Answer

Business, 22.06.2019 20:10

With signals from no-claim bonuses and deductibles, a. the marginal cost curve for careful drivers lies to the left of the marginal cost curve for aggressive drivers b. auto insurance companies insure more aggressive drivers than careful drivers because aggressive drivers have a greater need for the insurance c. the market for car insurance has a separating equilibrium, and the market is efficient d. most drivers pay higher premiums than if the market had no signals

Answers: 1

Answer

Business, 22.06.2019 22:40

Utilization will always be lower than efficiency because: a. effective capacity is greater than design capacityb. expected output is less than actual output.c. effective capacity equals design capacity.d. effective capacity is less than design capacity.e. expected output is less than rated capacity.

Answers: 3

Answer

You know the right answer?

You are saving money for a down payment on a new house. You intend to place $7,500 at the end of eac...

Questions