Suppose that a family wants to start a college fund for their child. If they can get a rate of 7. 5%, compounded monthly, and want the fund to have a value of $75,000 after 18 years, how much should they deposit monthly? Assume an ordinary annuity and round to the nearest cent. A. $164. 98 b. $165. 30 c. $166. 21 d. $167. 52.

Answers

Answer 1

The amount that should deposit monthly is $164.98

The formula for calculating the compound amount is expressed as:

[tex]A=P(1+\frac{r}{n} )^{nt}[/tex]

P is the amount investedA is the amount after 18 years = $75000r is the rate = 7.5% = 0.075t is the time in years = 18 yearsn is the compounding time = 12 (monthly)

Substitute the given values into the formula to have:

[tex]75000=P(1+\frac{0.075}{12} )^{12(18)}\\75000 = P(1.00625)^{216}\\75000 =P(3.84125)\\P = \frac{75000}{3.84125}\\P= \$19,524.89[/tex]

Hence the amount of money they started with is $19,524.89.

Amount to deposit monthly = 19,524.89/120

Amount to deposit monthly = $164.98

Hence the amount that should deposit monthly is $164.98

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Related Questions

what is 24% of 80 plzz help

Answers

Answer:19.2

Step-by-step explanation:

a homeowners association charges a 4.65 fee for each day your payment is late if a bill was originally 103.55 and paid 22 days late then how much is owed to the home owners?

Answers

Answer:

207.1

Step-by-step explanation:

4.65×22=102.3

103.55+102.3= 207.1

Use difference tables to determine whether the data represents a linear or quadratic relationship.

Answers

Answer:

Its not linear

Step-by-step explanation: Linear means it travels in a perfect line

Evaluate the equation:



4z = 10

z =

Answers

Answer:

z = 2.5

Step-by-step explanation:

4z = 10

----  -----

4      4

z = 2.5

hope this helps! :D

have a miraculous day, and brainliest is immensely appreciated!! <3

The diameter of the sun is about is about 1 390 000 km;

use scientific
notation to represent this diameter.

Answers

Answer:

1.39×10^6

Step-by-step explanation:

Hide 1 then count how many numbers are after it(6 numbers), that will be the power/exponent you will use

Luciano can type 190 words in 5 minutes. Which of the following ratios are in a proportional relationship with Luciano's typing speed?

Select all that apply.


38/1

74/2

230/45

290/105

570/15

950/25

Answers

Answer:

38/1570/15950/25

Step-by-step explanation:

The given rate, in words per minute, is ...

  (190 words)/(5 min) = 38 words/min

The offered ratios are ...

  38/1 = 38 . . . . proportional

  74/2 = 37 . . . . NOT proportional

  230/45 ≈ 5.11 . . . NOT proportional

  290/105 ≈ 2.76 . . . NOT proportional

  570/15 = 38 . . . . proportional

  950/25 = 38 . . . . proportional

Please helpppppppppp
Explain the steps in solving 2.14x-12.18=-576 , and write the solution to the equation.

Answers

Answer:

add 12.18 to both sides and the divide by 2.14 on both sides until its x equal whatever you get

Order the expressions by choosing >,

Answers

Answer:

1. 3^4 x 3^3 < 3^12

2. 3^3 x 4^3 < 12^4

3. 3^4 x 4^3 > 12^3

Evaluate the function f(x) = â€""2x2 â€"" 3x 5 for the input value â€""3. â’22 â€""4 2 32.

Answers

The equivalent value of the function f(x) = –2x^2 – 3x + 5 if x = -3 is -4

We are to evaluate the function f(x) = –2x2 – 3x + 5 for the input value –3.

Given the function:

f(x) = –2x^2 – 3x + 5

For x = -3, we will have to substitute x = -3 into the expression to have:

f(-3) = –2(-3)^2 – 3(-3) + 5

f(-3) = -2(9) + 9 + 5

f(-3) = -18 + 14

f(-3) = -4

Hence the equivalent value of the function f(x) = –2x^2 – 3x + 5 if x = -3 is -4

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NEED ANSWER VERY BAD BAD

Answers

5x + 18 + 81 + 4x = 180
Like terms
9x + 99 = 180

9x = 81

X = 9

Hope this helps!
Brainliest is much appreciated

FREE BRAINLESS THE FIRST PERSON WHO ANSWER THIS
leo spends $5 per week on music. write an equation that equation that determines the dollars spend D per week.
A. d=5w
b. d=5+w
c. w=5d
d. w=5+d

Answers

ANSWER: C

EXPLANATION

you’re multiply they amount of mint by the number of weeks

Hope this help :)

-8y + 1 = -9y. solve for y.

Answers

Answer: y = -1

Step-by-step:

-8y + 1 = -9y

Subtract 1 from both sides
-8y = -9y-1

Add 9y to both sides to isolate y
y = -1

Simplifying
8y + -1 = 9y

Reorder the terms:
-1 + 8y = 9y

Solving
-1 + 8y = 9y

Solving for variable 'y'.

Move all terms containing y to the left, all other terms to the right.

Add '-9y' to each side of the equation.
-1 + 8y + -9y = 9y + -9y

Combine like terms: 8y + -9y = -1y
-1 + -1y = 9y + -9y

Combine like terms: 9y + -9y = 0
-1 + -1y = 0

Add '1' to each side of the equation.
-1 + 1 + -1y = 0 + 1

Combine like terms: -1 + 1 = 0
0 + -1y = 0 + 1
-1y = 0 + 1

Combine like terms: 0 + 1 = 1
-1y = 1

Divide each side by '-1'.
y = -1

Simplifying
y = -1

if -5 is less than 0 what is the opposite of -5?
A. 0
B. 8
C. 5
D. 25

Answers

Answer: opposite of -5 is positive 5 so it’s choice C

Answer:

it’s choice C

Step-by-step explanation: hope this helps bestie

P(x)=3x 4 −2x 3 +2x 2 −1P, left parenthesis, x, right parenthesis, equals, 3, x, start superscript, 4, end superscript, minus, 2, x, cubed, plus, 2, x, squared, minus, 1 What is the remainder when P(x)P(x)P, left parenthesis, x, right parenthesis is divided by (x+1)(x+1)left parenthesis, x, plus, 1, right parenthesis?

Answers

The remainder when the polynomial is divided by x + 1 is 2

Given the function P(x)=3x^4 −2x^3 +2x^2 −1, to get the rmainder if the polynomial is divided by x + 1, we will substitute x = - 1 into the function to have:

P(-1) = 3(-1)^4 −2(-1)^3 +2(-1)^2 −1

P(-1) = 3(1) - 2 + 2(1) - 1

P(-1) = 1 + 1

P(-1) = 2

Hence the remainder when the polynomial is divided by x + 1 is 2

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Answer:

6

Step-by-step explanation:

:)

Using the equation F = 1.8C + 32, find the temperature in °C if it is 92°F. Round your answer to the nearest whole number if necessary.

Giving brainliest to the CORRECT answer! (Whoever answers with the explanation of how you got your answer will get brainliest but it HAS to be a correct answer)

Answers

Answer:

  33 °C

Step-by-step explanation:

Put 92 where F is in the equation, and solve for C.

  92 = 1.8C +32 . . . . substitute for F

  60 = 1.8C . . . . . . . . subtract 32

  60/1.8 = C ≈ 33.33 ≈ 33 . . . . . divide by the coefficient of C, round the result

The temperature is about 33 °C.

Solve. 2/3x+5/6=3 1/3 Enter your answer as a mixed number in simplest form in the box.

Answers

Answer:15/4 I think

Step-by-step explanation:sorry I don’t know

Answer:

3 3/4

Step-by-step explanation:

Hope this helps!

Brainliest pls

Have a great day!

20(d – 4) + 4d *less than sign and a line under it* 8

Answers

Answer:

the anser od 20(d-4)+4d is5

If School starts at 7:15 and I take 6 periods of class but I stay in 1-4 period each for 47 minutes and stay in 5th and 6th period for 97 minutes. What time will it be after 4 periods? Hint: This is clock wise!!!

Answers

Answer:

10:24

Step-by-step explanation:

if school starts at 7:15 and you stay in the first 4 periods for 47 minutes each, that totals 3 hours, 8 minutes

7:16 + 3 hrs, 8 min = 10:24

A jet travels 590 miles in 5 hours at this rate how far could the jet fly in 10 hours

Answers

Answer:

1180 miles

Step-by-step explanation:

590 x 2. If 590 miles in 5 hours then in ten it would be double. 590x2=1180.

So 1180 miles

Hope this helps

FURNITURE A modern table is constructed with four legs made
of concrete cubes with cube-shaped notches.
a. Define one or more variables and write an expression that
represents the volume of one table leg.

b. Marisol determined that she will use 12,636 cubic inches of
concrete to construct the four table legs. If the sides of the
notches are 40% of the sides of the legs, how long are the sides of the legs?

Answers

The volume of a shape is the amount of space in it.

The expression that represents the volume of one table leg is: [tex]V = l^3 + n^3[/tex]The sides of the legs is 14.37 inches long

(a) The volume of one table leg

Represent the side length of the leg with l, and the side length of the notch with n.

So, the expression that represents the volume of one table leg is:

[tex]V = l^3 + n^3[/tex]

(b) The length of the sides

From the question, we have:

[tex]n = 40\% \times l[/tex]

Express 40% as decimal

[tex]n = 0.40 \times l[/tex]

[tex]n = 0.4l[/tex]

Substitute 0.4l for n in [tex]V = l^3 + n^3[/tex]

[tex]V =l^3 + (0.4l)^3[/tex]

[tex]V =l^3 + 0.064l^3[/tex]

[tex]V =1.064l^3[/tex]

The volume of the 4 legs is given as: 12636

So, the volume of one leg would be 12636/4

So, we have:

[tex]1.064l^3 = \frac{12636}{4}[/tex]

[tex]1.064l^3 = 3159[/tex]

Divide both sides by 1.064

[tex]l^3 = 2968.985[/tex]

Take cube roots of both sides

[tex]l = 14.37[/tex]

Hence, the sides of the legs is 14.37 inches long

Read more about volumes at:

https://brainly.com/question/1972490

2. Use the Distributive Property to simplify the expression (1 point)
4(2x - 4)
8x + 4
8x - 4
8x - 16
4x – 16

Answers

Answer:

  (c)  8x -16

Step-by-step explanation:

The outside factor multiplies each of the terms inside parentheses.

  4(2x -4) = 4(2x) +4(-4) = 8x -16

_____

Additional comment

You can think of parentheses as a "bag". The factor outside tells you how many bags you have. When you dump that many bags (eliminate parentheses), you find that the number of each of the kinds of contents is the number in one bag, multiplied by the number of bags.

If you have 4 bags that each have 2 apples and 4 oranges, your total is 8 apples and 16 oranges.

can somebody help me put them in the right spot?

Answers

Step 1: Divide both sides by two.

(As shown where 12x - 6 = 10 becomes halved to become 6x – 3 = 5)

Step 2: Add 3 to both sides.

(The 3 is brought to the other side to add to 5, becoming 8)

Step 3: Multiply both sides by 1/6.

(aka dividing both sides by 6, to get the fraction 8/6 which can be simplified to 4/3.)

One electrician charges his customers a $60 service fee plus $35 per hour.
Another electrician charges her customers $65 per hour. How many hours must the
electricians work in order for the total cost of an eelectrician to be the same? What is
the total cost?

Answers

Answer:

2 hours; $130

Step-by-step explanation:

We can do this by setting up an equality since we are finding when they are the same. Say x is the number of horus:

65 * x = 60 + 35* x

30 * x = 60

x = 2 hours

The cost will be the same at two hours, and plugging it in, we can get 65*2=130.

What is the exact value of sin(-5 π/3)

Answers

Answer:

√3/2 is the correct answer. I hope this helps ^^

Step-by-step explanation:

Help due in 2 mins!!!!
What is the value of the expression below???

Answers

Answer:

A. 4

Step-by-step explanation:

Answer:

A

Step-by-step explanation:

How do u slove this for y intercept?


(4, 1); slope=3/2

Answers

Answer:

y-intercept=-5

Step-by-step explanation:

y=mx+b  m/slope=3/2 the point is (x,y)/(4,1)

1=3/2(4)+b

1=12/2+b

1=6+b

-6-6

-5=b

Calculate the speed of a car that travels 50 km (kilometers) in 30 min (minutes). Question 1 options: 1. 6 km/min (kilometers per minute) 1. 6 miles/hour 1,500 km/min (kilometers per minute) 1,500 miles/hour.

Answers

The speed of this car is equal to 1.6 km/min.

Given the following data:

Distance = 50 kilometers.Time = 30 minutes.

To calculate the speed of this car:

Speed can be defined as the distance travelled by an object per unit time and it is usually measured in meter per seconds (m/s). Also, speed has magnitude but no direction and as such it is a scalar quantity.

Mathematically, speed is given by the formula;

[tex]Speed = \frac{distance}{time}[/tex]

Substituting the given parameters into the formula, we have;

[tex]Speed = \frac{50}{30}[/tex]

Speed = 1.6 km/min.

Read more: https://brainly.com/question/13102821

find the perimeter of the polygon​

Answers

32 is the answer i believe

Type the correct answer in each box. Use numerals instead of words. If necessary, use / for the fraction bar(s).

Answers

Step-by-step explanation:

complementary angles mean that together they have 90°.

that means that sin(A) = cos(C) and vice versa.

so, the values are the same

cos(C) =24/25

sin(A) = 20/29

please !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Joe purchases a tray of 48 flowers to plant in his garden. He plants 3 flowers every minute. He can plant the entire tray in 16 minutes.

When setting up a graph to model how many flowers he plants over time, what would be an appropriate scale for the x-axis (horizontal axis)?

Question 10 options:

0 - 48


0 - 3


16 - 48


0 - 16

Answers

Answer:

B im very sorry if im wrong <3

Step-by-step explanation:

Answer:48

Step-by-step explanation:Required equation is y - 36 = (24 - 36)/(2 - 1) (x - 1)

y - 36 = -12(x - 1)

y - 36 = -12x + 12

12x + y = 12 + 36

12x + y = 48

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