Adam wishes to have $16,000 available in 18 yrs to purchase a new car for his son. to accomplish this goal, how much should adam invest now in a cd that pays 1.24% interest compounded monthly?

Amount Adam need to invest = $12,802.04

In the question,

Amount Adam want to have in 18 years = $16,000

Time, t = 18 years

Rate of interest, r = 1.24% (compounded monthly)

So,

Effective rate of return, R = 1.24/12=0.1033%

Effective time, T = 18 x 12 = 216 years

Now,

Let us say the amount invested in the CD is = x

So,

Using the formula of Compound Interest, we can say that,

Therefore, the amount Adam need to invest in the CD to achieve the Goal is,

$ 12,802.04.

b. x- 48 =120

step-by-step explanation:

x= -3 and

step-by-step explanation:

to find the roots of a cubic, use division or factoring to find the factors then set equal to 0. as this is a difference of cubes, it factors into

where a is the cube root of .

here   this is 27 and the cube root of 27 is 3. so we write using the form:

.

set each factor to 0 and solve for x.

x-3=0

x=3

the quadratic expression does not factor and must be solved using the quadratic formula.

where a = 1, b=3, and c=9

this cubic has two complex roots.