MATHEMATICS COLLEGE

Trisha Long wants to buy a boat in five years. She estimates the boat will cost $15,000 at that time. What must Trisha deposit today in an account earning 5% annually to have enough to buy the boat in five years?

Answers

Answer 1
Answer:

We use the formula for compound growth to figure this problem out. Formula is:

P=P_(0)(1+(r)/(n))^(nt)

Where,

  • P is the future value
  • P_(0) is the initial deposite
  • r is the rate of interest annually
  • n is the number of times compounding occurs (n=1 for annual compounding, n=2 for semiannual compounding etc.)
  • t is time

Given P=15,000, r=5%=0.05 (in decimal), n=1 (since annual compounding), and t=5 years, we can solve:

15000=P_(0)(1+(0.05)/(1) )^((1)(5))\n15000=P_(0)(1+0.05)^(5)\nP_(0)=(15000)/((1+0.05)^(5))\nP_(0)=(15000)/(1.05^(5))\nP_(0)=11,752.89

So, Trisha Long needs to deposit $11,752.89 today in the account.


ANSWER: $11,752.89
Answer 2
Answer: \bf \qquad \textit{Compound Interest Earned Amount}\n\nA=P\left(1+(r)/(n)\right)^(nt)\qquad \begin{cases}A=\textit{compounded amount}\to &15000\nP=\textit{original amount deposited}\nr=rate\to 5\%\to (5)/(100)\to &0.05\nn=\begin{array}{llll}\textit{times it compounds per year}\n\textit{annually means, once}\end{array}\to &1\nt=years\to &5\end{cases}

solve for "P", to see how much Principal she should deposit today

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Answers

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−3×3×−3×−3

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Answers

Step-by-step explanation:

A - 3×3×-3×-3×-3 = 243

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Answers

Answer:

20

Step-by-step explanation:

mean is average

add all numbers get 160

divide by number of numbers (8) and get 20

Answer:

when you find the mean of a data set, you add all the numbers up then you divide the sum by the numbers in total. the sum is 160, you then divide by total of number which is 8 . your answer is 20. not sure if that made sense lol

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Answers

Answer:

7. 56

8. 117

Step-by-step explanation:

7.

Add the lengths of the sides. Each square on the grid has side 2 units.

9 + 4 + 4 + 8 + 11 + 3 + 2 + 15 = 56

8.

Find the lengths of the bases and the height of the trapezoid. Each square on the grid is 2 units.

Area of trapezoid = (1/2)(b1 + b2)h

area = (1/2)(15 + 11)(9) = 117

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Answers

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Answers

The graph show\ing the demand (D) and supply (S = MC) curves in the market for hot dogs indicate: Competitive market.

Competitive market

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Based on the graph the market equilibrium price will be $1.50 per hot dog while on the other hand the market equilibrium quantity will be 250 hot dogs which  is the point were demand and supply intersect.

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Learn more about competitve market here:brainly.com/question/25717627

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