Aaron contributes $3,000 annually toward an IRA. A projected annual return is 7.2%. What is the future value in 5 years? $15,000.00
$17,321.20
$41,666.67
$108,000.00

FV= $17,321.20

Step-by-step explanation:

Giving the following information:

Annual deposit (A)= $3,000

Number of periods (n)= 5 years

Interest rate (i)= 7.2% = 0.072

To calculate the future value (FV), we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {3,000*[(1.072^5) - 1]} / 0.072

FV= $17,321.20

step-by-step explanation:

12: 00 p.m. to 7: 00 p.m. is a total of 7 hours.

4: 00 p.m. to 7: 00 p.m. is a total of 3 hours.

this means that from 4: 00 p.m to 7: 00 p.m. this represents 3/7 of what was lost from 12: 00 p.m. to 7: 00 p.m.

after knowing this, after doing 11,600 - 6,800 = 4,800

4,800 represents 3/7 of what was lost for 7 hours.

we then divide 4,800 by 3 which gets 1,600.

because we know that 1,600 represents 1/7 of how much water was lost, we just have to multiply by 7, which gets 11,200.   after adding 11,200 to how much water was left at 7: 00 p.m. which was 6,800. 11,200 + 6,800 = 18,000

this means that the pool originally had 18,000 gallons in the pool.

you can also check your work by doing 18,000 - 4(1600), which becomes           1800 - 6400 which gets you 11,600.

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step-by-step explanation:

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