Ricky Bobby wants to buy a new automobile for $55,000 in 8 years. How much money must Ricky's original investment be if he makes a single deposit into an account with monthly compounding and an annual interest rate of 3.90% in order to reach his goal? Round your answer to the nearest cent.

Answers

Answer 1

Answer:

PV= $40,279.36

Step-by-step explanation:

Giving the following information:

Number of periods= 8*12= 96 months

Interest rate= 0.039/12= 0.00325

Future value (PV)= $55,000

To calculate the initial investment, we need to use the following formula:

PV= FV/(1+i)^n

PV= 55,000 / (1.00325^96)

PV= $40,279.36


Related Questions

A scientist needs 80 liters of a 30% solution of alcohol. She has a 20% solution and a 60% solution available. How many liters of the 20% solution and how many liters of the 60% solution should she mix to make the 30% solution?

Answers

Answer:

60 liters of 20% solution & 20 liters of 60% solution

Step-by-step explanation:

80*0.3=.2x+0.6(80-x)

24=0.2x+48-0.6x

-24=0.2x-0.6x

-24=0.4x

24=0.4x

60=x

Hope this helps!! This is step by step btw!

Not quite sure about the answer but it seems simple. Please answer!​

Answers

Answer:

Its A

Step-by-step explanation:

Rainfall was 6 inches in September and 4.9 inches in October. What was the difference in rainfall?

Answers

Answer:

1.1

Step-by-step explanation:

6-4.9=1.1

Hope I helped!

Please mark Brainliest!!!

Answer:

1.1

Step-by-step explanation:

it's easy you just subtract.

Consider the feasible region in the xy-plane defined by the following linear inequalities.
x≥0
y ≥0
x ≤ 10
x +y≥ 5
x + 2y ≤ 18
Part 2 Exercises:
1. Find the coordinates of the vertices of the feasible region. Clearly show how each vertex is determined and which lines form the vertex.
2. What is the maximum and the minimum value of the function Q = 60x+78y on the feasible region?

Answers

Answer:

1. (0,5), (0,9), (10,4), (10,0), (5,0)

2. [tex]Q_{max}=912[/tex]

[tex]Q_{min}=300[/tex]

Step-by-step explanation:

1.

In order to determine the coordinates of the vertices of the feasible region, we must first graph each of the inequalities. The feasible region is the region where all the inequalities cross each other. In this case it's the region shaded on the attached picture.

The first point is the intercept between the equations x=0 and x+y=5 so in order to find this first coordinate we need to substitute x=0 and solve for y.

0+y=5

y=5

(0,5)

The next point is the intercept between the equations x=0 and x+2y=18, so again, we substitute x for zero and solve for y:

0+2y=18

[tex]y=\frac{18}{2}[/tex]

y=9

(0,9)

The next coordinate is the intercept between the lines x=10 and x+2y=18, so we substitute x for 10 and solve for y:

10+2y=18

2y=18-10

2y=8

[tex]y=\frac{8}{2}[/tex]

y=4, so the oint is

(10,4)

The next point is the intercept between the lines x=10 and y=0, so the point is:

(10,0)

The final point is the intercept between the equations: y=0 and x+y=5. We substitute y for zero and solve for x:

x+0=5

x=5

so the point is:

(5,0).

2. In order to determine the maximum and minimum value of the function Q=60x+78y on the feasible region, we must evaluate it for each of the points found on part 1.

(0,5)

Q=60(0)+78(5)

Q=390

(0,9)

Q=60(0)+78(9)

Q=702

(10,4)

Q=60(10)+78(4)

Q=912

(10,0)

Q=60(10)+78(0)

Q=600

(5,0)

Q=60(5)+78(0)

Q=300

So now we compare the answers and pick the minimum and maximum results.

We get that:

[tex]Q_{max}=912[/tex]

when x=10 and y=4

and

[tex]Q_{min}=300[/tex]

When x=5 and y=0

The feasible region is the possible set of a constraint

The vertices are: [tex]\mathbf{(x,y) \to (0,5), (0,9), (5,0)}[/tex]The maximum and the minimum values are 702 and 300, respectively.

(a) The coordinates of the vertices at the feasible region

The constraints are given as:

[tex]\mathbf{x \ge 0}[/tex]

[tex]\mathbf{y \ge 0}[/tex]

[tex]\mathbf{x \le 0}[/tex]

[tex]\mathbf{x + y\ge 5}[/tex]

[tex]\mathbf{x + 2y\ge 18}[/tex]

See attachment for the graph of the constraints

From the graph, the vertices are:

[tex]\mathbf{(x,y) \to (0,5), (0,9), (5,0)}[/tex]

(b) The minimum and the maximum values of objective function Q

The objective function is:

[tex]\mathbf{Q=60x +78y}[/tex]

Substitute [tex]\mathbf{(x,y) \to (0,5), (0,9), (5,0)}[/tex] in Q

[tex]\mathbf{Q=60(0) +78(5) = 390}[/tex]

[tex]\mathbf{Q=60(0) +78(9) = 702}[/tex]

[tex]\mathbf{Q=60(5) +78(0) = 300}[/tex]

Hence, the maximum and the minimum values are 702 and 300, respectively.

Read more about feasible regions at:

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A jogger is running home. His distance from home, as a function of time, is modeled by y=-7x +8.
Which statement best describes the function?
A. The function is nonlinear.
B. Not enough information is given.
C. The function is linear at some points and nonlinear at other points.
D. The function is linear.

Answers

Answer: the function is a liner

Step-by-step explanation: trust

The price of a technology stock was $9.66 yesterday. Today, the price fell to $9.55. Find the percentage decrease.

Answers

So the decrees would be 0.11 because if you add 9.55 with 0.11 you would get 9.66 then to make sure it’s right you subtract 9.66 by 0.11 and you would get 9.55. So the answer is 0.11

Write the fractional equivalent (in reduced form) to each number
10
0.125 =
0.16

Answers

10 —> 10/1
0.125 —> 1/8
0.16 —> 4/25

You finance a $500 car repair completely on credit, you will just pay the minimum payment each month for the next three months. The APR is 18.99% and the minimum payment each month is 4% of the balance. Determine the finance charge, carry-over balance, and minimum payment required for each of the next two months, and the starting balance for month 2 in the table below.

Answers

Answer:

Determination of the Finance Charge, Carry-over balance, Minimum Payment for each of the next two months:

Finance Charge:

First month = $7.91

Second month = $7.72

Carry-over balance:

First month = $487.59

Second month = $475.50

Minimum Payment:

First month = $20.32

Second month = $19.81

Starting balance (Carry-over balance + Finance charge):

First month = $507.91

Second month = $495.31

Step-by-step explanation:

a) Data and Calculations:

Credit Finance = $500

APR = 18.99%

Minimum monthly payment = 4% of the balance

Monthly rate of interest = 0.1899/12 = 0.015825

Finance Charge:

First month = $7.91 ($500 * 0.015825)

Second month = $7.72 ($487.59 * 0.015825)

Carry-over balance:

First month = $487.59($507.91 - $20.32)

Second month = $475.50 ($495.31 - $19.81)

Minimum Payment:

First month = $20.32 ($507.91 * 4%)

Second month = $19.81 ($495.31 * 4%)

Starting balance (Carry-over balance + Finance charge):

First month = $507.91 ($500 + $7.91)

Second month = $495.31 ($487.59 + $7.72)

Juan got grades of 68 and 73 on his first two math tests. What grade must he get on the third test if all were weighted equally and he wants to raise his grade to a 75 average?

Answers

Answer: 84

Step-by-step explanation: Multiply 75 by 3. That is 225, and is the value the three numbers must add up to. 73+68=141. 225-141 is 84.

A computer manufacturer built a new facility for assembling computers. There were construction and new equipment costs. The company paid for these costs and made combined profits of $40 million after 4 years, while profits increased $30 million per year. Select the correct graph of this function. (2 points)

A)There is a graph of a line that has a y intercept that is approximately $80 million and passes through the point of approximately x equals 2 years and y equals $140 million.

B)There is a graph of a line that has a y intercept that is approximately negative $80 million and an x intercept that is approximately 2.7 years.

C)There is a graph of a line that has a y intercept that is approximately negative $45 million and an x intercept that is approximately 2 years.

D)There is a graph of a line that has a y intercept that is approximately negative $45 million and an x intercept that is approximately 0.6 years.

Answers

Answer:

I am not really good at this but...if I had to choose the ones that make sense

A and B

Step-by-step explanation:

Your are incresing the amount is going up, so if you go backwards you woild have to the negatuves.

Then again I woild not trust my math for the second answer cause I am no good at math.

Mrs.Rodriquez is purchasing trophies for each child that plays little league she wants to spend no more than $7.00 per thropy ​

Answers

Answer:

7 trophies for $49.00

5 trophies for $30.00

-----------------------------------

Explination:

It says that she wants to pay no more than 7 dollars for each trophy she buys, which means 7 and less. So we have to multiply 7 x the number of trophies, And if it gives you the excact number or less its correct.

So we multiply

7 x 7 = 49 (The excact number, correct)

9 x 7 = 63 (The price they are selling it at is higher, incorrect)

12 x 7 = 84 (The price they are selling it at is higher, incorrect)

5 x 7 = 35 (Paying less, Correct)

3 x 7 (The price they are selling it at is higher, incorrect)

---------------------------------------------------------------------------------------

Its really easy if you put your mind into it! Goodluck <3

Andre looks at a box of paper clips. He says: "I think the number of paper clips in the box is less than 1,000."

Lin also looks at the box. She says: "I think the number of paper clips in the box is more than 500."

Choose an inequality to show Andre's statement, using LaTeX: p
p
p
for the number of paper clips.

Group of answer choices

p > 1000

1000 > p

Answers

Answer:

Andre says: "I think the number of paper clips in the box is less than 1000.

The equality that shows Andre's statement, or information:

p p p (for the number of clips)

So,

p>1000

1000>p

Hope that helps...

A XYZ is translated left 4 units to form the image A X'Y'Z'.

What are the coordinates of the vertices of A X'Y'Z' ?

Enter your answer by filling in the boxes.
Plz Help

Answers

Answer:

y(1,6) x(-4,6) z(1,1)

Step-by-step explanation:

Answer:

X(-8,6)Y(-3,6)Z(-3,1)

Step-by-step explanation:

just moving the coordinate over to the left 4 times

What is the decimal expansion for 14 over 33?

Answers

Hi! I believe your answer is 0.42, (simplified form of 0.42424242424) which is 14/33 (or [tex]\frac{14}{33}[/tex] ) as a decimal. I hope this helps you! Good luck and have a great day. ❤️✨


Find the amount that results from investing $5000 at 3% compounded continuously for 5 years. Round your
answer to two decimal places.

Answers

Answer:

The amount that results from investing $5000 at 3% compounded continuously for 5 years is $5800

Step-by-step explanation:

We are given:

Principal Amount (P) = $5000

Years (t) = 5

Rate (r) = 3% or 0.03

We need to find New Amount (A)

The formula used is: [tex]A=P(1+\frac{r}{n})^{nt}[/tex]

Since amount is compounded continuously so n=1

Putting values and finding A

[tex]A=P(1+\frac{r}{n})^{nt}\\A=5000(1+\frac{0.03}{1})^{1*5}\\A=5000(1+0.03)^5\\A=5000(1.03)^5\\A=5000(1.16)\\A=5800[/tex]

So, New Amount (A) = $5800

The amount that results from investing $5000 at 3% compounded continuously for 5 years is $5800

ion f (x) = -2(x+8)+11
Standard form

Answers

-2x-5 is your answer I believe

Solve the inequality 8y - 3(y - 2)< 2y + 4(2y + 4) write solution in interval notation

Answers

Answer: y>-2

Step-by-step explanation:

8y-3(y-2) < 2y+4(2y+4)

8y-3y+6 < 2y+8y+16

6-16<2y+8y-8y+3y

-10<5y

y>-2

Answer:

(−∞,−2)

Step-by-step explanation:

Start by simplifying each side as much as possible by distributing and combining like terms to get

8y−3(y−2)8y−3y+65y+6>2y+4(2y+4)>2y+8y+16>10y+16

Subtract 10y from both sides to collect the variables on the left, then subtract 6 from both sides to collect all the constants on the right.

5y+65y+6−10y−5y+6−5y+6−6−5y>10y+16>10y+16−10y>16>16−6>10

Divide each side by −5 to solve for y. Since −5<0, the inequality changes direction.

−5y−5y−5y>10<10−5<−2

In interval notation, we write this as (−∞,−2).

-4x+6y=-7
-13x-2y=-4
Elimination or substitution

Answers

Answer:

substitution

Step-by-step explanation:

A train travels at 45 mph for 3 h and then increases its speed to 55 mph for 2 more hours. How far does the train travel in the 5-hour period

Answers

Answer:

245miles

Step-by-step explanation:

Step one:

given that the first 3 hours the train travels at a speed of 45 mph.

i.e Time = 3 hours

    speed =45 mph

    distance=?

we know that speed = distance/time

distance= speed*time

distance= 45*3

distance=135miles

Step two:

For the nex two hours it travels at 55 mph

i.e time= 2hours

   speed= 55mph

  distance=?

distance= speed*time

distance= 2*55

 distance= 110mile

Step three:

Hence for a total of 5 hours drive, the total distance covered is

135+110= 245miles

Consider the limaçon with equation r = 3 + 4cos(θ). How does the quotient of a and b relate to the existence of an inner loop?

Answers

A polar graph that is a limacon has a formula similar to [tex]r=a+bcos\theta[/tex]

Option B is correct.

A  limacon has a formula similar to [tex]r=a+bcos\theta[/tex]

Case 1 .  If  a < b  or  [tex]\frac{b}{a}>1[/tex]

Then the curve is limacon with an inner loop.

Case 2.  If  a>b   or   [tex]\frac{b}{a}<1[/tex]

Then the limacon does not have an inner loop.

Here, given that,  [tex]r=3+4cos\theta[/tex]

It is observed that,  a < b  or [tex]\frac{b}{a}>1[/tex]

Therefore, the curve is limacon with an inner loop.

Hence, option B is correct.

Learn more:

https://brainly.com/question/10381605

Katie played 5 consecutive games of soccer without being taken off the field. Then, after a single game on the sidelines, she played another 7 consecutive games. What is the percent of increase in the number of consecutive games she played?

Answers

skeirirhhrhfdkfifndjvjfjcidjdjcjcjcjcjcjkkc

Consider the system of equations below. What could be the first step in solving by elimination?

Answers

Answer:

The first step would be to multiply the bottom equation by -1 to eliminate x, then you would combine like terms, like 5y + 2y, and 16 + 10.

Answer:

Subtracting the 2 equations

Step-by-step explanation:

3x + 5y = 16

3x + 2y = 10

Subtract it;

3y = 6

Divide both sides b 3;

y = 2

Substitute y;

3x + 5y = 16

3x + 5(2) = 16

3x + 10 = 16

Subtract 10 from both sides;

3x = 6

Divide both sides by 3;

x = 2

(x, y) = (2, 2)

simplify (3x+2) (y-2) - (7y+3) (y-3)

Answers

Answer:

3 x y − 7 y 2 − 6 x + 20 y + 5

Step-by-step explanation:

S= √3+2√3+3√3+...10√3
write S as a√3

Answers

Answer:

S = 55√3

Step-by-step explanation:

S=

√3+2√3+3√3+...10√3 =√3( 1 + 2 + 3+...+ 10) =√3(1/2)(10)(10 + 1) =√3(55) =55√3

S = 55√3

Answer:

s=✓3(1+2+3+...10)

s=✓3[10/2×(10+1)]

here, applying sum of 1st n natural number is n/2×(n+1)

so, s=✓3×5×11

hence, s=55✓3.

What is the answer to
5 + 3 x 3x -2 X=2

Answers

Answer:

x = 1/6

Step-by-step explanation:

If 1 inch represents 10 miles on a map then how many inches will represent 120 miles ?

Answers

Answer:

12 inches

Step-by-step explanation:

We can write this as a proportion:

inches/miles = inches/miles

1/10 = x/120

Solving for x, we get 12 inches.

If I work four days from 6-4:30 and earn $600. How much of taxes is being taken off my check

Answers

Answer:

80$

Step-by-step explanation:

Does anyone know the solution to this question

Answers

Answer:

Graph A

Step-by-step explanation:

3x+y=5

y=-3x+5

4x-y=2

-y=-4x+2

4=2x-2

graph a is correct. hope this helps

Suppose that $2000 is placed in a savings account at an annual rate of 4.6%, compounded quarterly. Assuming that no withdrawals are made, how long will it take for the account to grow to $3000? Do not round any intermediate computations, and round your answer to the nearest hundredth.

If necessary, refer to the list of financial formulas.

Answers

Answer:

It will take 35.46 quarters for the account to grow to $3000.

Step-by-step explanation:

Since the annual rate is compounded quarterly, this can be calculated using the formula for calculating the future value as follows:

FV = PV * (1 + r)^n ............................ (1)

Where;

FV = future value or the amount the deposit expected to grow to = $3,000

PV = Present value or the amount place in the savings = $2,000

r = Quarterly rate = Annual rate / 4 = 4.6% / 4 = 0.046 / 4 = 0.0115

n = number of quarters it will take for the loan to grow to $3000 = ?

Substituting the values into equation (1) and solve for n, we have:

$3,000 = $2,000 * (1 + 0.0115)^n

$3,000 / $2,000 = (1.0115)^n

1.50 = (1.0115)^n

Loglinearise both sides, we have:

log(1.50) = n log(1.0115)

0.176091259055681 = n * 0.00496588710682352

n = 0.176091259055681 / 0.00496588710682352

n = 35.4601816891322

Rounding to the nearest hundredth, which also implies to rounding to 2 decimal places, we have:

n = 35.46

Since the the annual rate is compounded quarterly, it will therefore take 35.46 quarters for the account to grow to $3000.

Suppose that $2000 is placed in a savings account at an annual rate of 4.6%, compounded quarterly. Assuming that no withdrawals are made, it will take him 8.86 years for the account to grow to $3000

From the information given:

The principal amount placed in the savings account (P) = 2000The annual interest rate = 4.6%number of times interest is compounded n = 4

By using the compound interest formula:

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

replacing the values from above, we have:

[tex]\mathbf{3000= 2000( 1+\dfrac{0.046}{4})^{4t}}[/tex]

[tex]\mathbf{\dfrac{3000}{2000}= ( 1+\dfrac{0.046}{4})^{4t}}[/tex]

[tex]\mathbf{\dfrac{3000}{2000}= ( 1+0.0115)^{4t}}[/tex]

[tex]\mathbf{\dfrac{3000}{2000}= ( 1.0115)^{4t}}[/tex]

[tex]\mathbf{log(\dfrac{3000}{2000})= 4t \times log ( 1.0115)}[/tex]

[tex]\mathbf{0.17609= 4t \times0.004966}[/tex]

[tex]\mathbf{t = \dfrac{0.17609}{4 \times 0.004966 }}[/tex]

t = 8.86 years to the nearest hundredth.

Learn more about compound interest here:

https://brainly.com/question/14295570?referrer=searchResults

Liam had a container of oatmeal that contained 5 and one-half cups of oatmeal. Liam ate StartFraction 4 over 9 EndFraction cup of oatmeal every morning before school for a week. Which is the best estimate of the number of cups of oatmeal that Liam had left in the container at the end of the five-day week?
2 and one-half
3
3 and one-half
5

Answers

3 and two half I hope you get a good answer

Answer:

3

Step-by-step explanation:

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