Mathematics, 04.07.2019 20:30 lucky1940
Rae started saving money at an early age (10 years old). each month her mom put the money in an account that compounded annually at 5.75%. now rae is 23 and has $6936.72. how much did she save each month? (assume she saved for a full 13 years) use the fv or pmt functions in excel.
Answers: 1
![\text{FV of annuity}=P[\frac{(1+r)^n-1}{r}]](/tpl/images/0051/5010/238f8.png)
![\Rightarrow 6936.72=P[\dfrac{(1+\frac{5.75}{1200})^{156}-1}{{\frac{5.75}{1200}}}]\\\\\\\Rightarrow P=\dfrac{6936.72}{[\frac{(1+\frac{5.75}{1200})^{156}-1}{{\frac{5.75}{1200}}}]}\\\\\\\Rightarrow P=\dfrac{6936.72}{\frac{2.107947-1}{0.004792}}\\\\\\\Rightarrow P=\dfrac{6936.72}{\frac{1.107947}{0.004792}}\\\\\\\Rightarrow P=30](/tpl/images/0051/5010/2a36d.png)
Another question on Mathematics
Mathematics, 21.06.2019 18:00
Name each raycalculation tip: in ray "ab", a is the endpoint of the ray.
Answers: 2
Mathematics, 21.06.2019 20:50
A. what is the area of the base? use complete sentences to explain your reasoning. b. what is the volume of the prism? use complete sentences to explain your reasoning.
Answers: 1
Mathematics, 22.06.2019 01:10
Which has the greater energy, light of wavelength 519 nm or light with a frequency of 5.42 x 10^8 sec^-1?
Answers: 2
You know the right answer?
Rae started saving money at an early age (10 years old). each month her mom put the money in an acco...
Questions
Mathematics, 12.04.2021 16:20
Mathematics, 12.04.2021 16:20
Mathematics, 12.04.2021 16:20
English, 12.04.2021 16:20
Biology, 12.04.2021 16:20
Biology, 12.04.2021 16:20
Health, 12.04.2021 16:20
Mathematics, 12.04.2021 16:20
Biology, 12.04.2021 16:20
Business, 12.04.2021 16:20
Chemistry, 12.04.2021 16:20
Arts, 12.04.2021 16:20
