How much would you need to deposit in an account now in order to have $2000 in the account in 15years? Assume the account earns 8% interest compounded monthly.

Answers

Answer 1

Answer:

P = $1341.53

Step-by-step explanation:

A(t) = amount in t years

P = Principal (original investment)

r = annual interest rate (in decimal form)

n = number of times that interest is compounded each year

A(t) = P(1 + r/n)nt

Substitute in the given values:  2000 = P(1 + 0.04/12)12(10)

2000 = P(1.490832682)

P = $1341.53


Related Questions

5^-2 x ³√8

answer as a decimal

Answers

Answer: We can start by simplifying the cube root of 8:

³√8 = 2

Next, we can rewrite 5^-2 as 1/5^2:

1/5^2 x 2 = 1/25 x 2 = 2/25

So the answer, as a decimal, is 0.08 (or 0.08 rounded to two decimal places).

Emma brought $23.75 to the art supply store. She bought a brush, a sketchbook, and a paint set. The brush was 1 /4 as much as the sketchbook, and the sketchbook cost 2/ 3 the cost of the paint set. Emma had $4.50 left over after buying these items.

Answers

Emma bought a brush for $1.75, a sketchbook for $7, and a paint set for $10.5.

How to solve for the cost

B = 1/4 * S

S = 2/3 * P

B + S + P = 23.75 - 4.50

Emma spent 23.75 - 4.50 = $19.25 on the brush, sketchbook, and paint set.

Now we have the equation:

B + S + P = 19.25

Substitute the expressions from relationships 1 and 2 into the equation:

(1/4 * S) + S + (3/2 * S) = 19.25

Now combine the terms:

(1/4 * S) + (4/4 * S) + (6/4 * S) = 19.25

(11/4 * S) = 19.25

Now, to solve for S, multiply both sides of the equation by the reciprocal of the fraction (4/11):

S = (4/11) * 19.25

S = 7

The sketchbook cost $7. Now we can find the costs of the brush and the paint set using relationships 1 and 2:

B = 1/4 * S = 1/4 * 7 = 1.75

P = 3/2 * S = 3/2 * 7 = 10.5

Emma bought a brush for $1.75, a sketchbook for $7, and a paint set for $10.5.

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Complete question

Emma brought $23.75 to the art supply store. She bought a brush, a sketchbook, and a paint set. The brush was 1 /4 as much as the sketchbook, and the sketchbook cost 2/ 3 the cost of the paint set. Emma had $4.50 left over after buying these items. What is the total cost for each item

Helpppppppp pleaseeeeee

Answers

The value of the product of -4  row one and row 3 is [90    -9     -1]

What is the product of a matrix?

A matrix is a rectangular array or table of numbers, symbols, or expressions, arranged in rows and columns, which is used to represent a mathematical object or expression.

The given matrix is

[tex]\left[\begin{array}{ccc}1&2&1\\0&4&-2\\4&-1&6\end{array}\right] \left[\begin{array}{ccc}-5&\\3\\-8&\end{array}\right][/tex]

the product is given as

-4[1    2    1]  + [4    -1     3]

= [ -4 -8   -4]   +  [  4   -1    3]

= [90    -9     -1]

The sum of the product is [90    -9     -1]

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6. Ari, a gardener, estimates the cost of seeding a 150 m by 210 m area with grass seed. He needs 3 pounds of seed per 100 000 square feet. How many pounds of seed will Ari need?​

Answers

Ari will need 3.6 pound of seed.

We are Given that total number of pounds of grass seed needed

9

Let number of pounds of Bermuda seeds is x

Let number of pounds of Fescue seeds is y

Then sum of both gives equation:

x+y=9

y=9-x...(i)

Given that cost of 1 pound of Bermuda seed = $4.80

Then cost of x pound of Bermuda seed = $4.80x

The cost of 1 pound of Fescue seed = $3.50

Then cost of y pound of Fescue seed = $3.50y

The total cost will be 4.80x + 3.50y

Now combining all three parts, we get equation:

4.80x+3.50y=4.02 x 9

4.80x+3.50y=36.18...(ii)

4.80x+3.50y=36.18

4.80x+3.50(9-x)=36.18

4.80x+31.5-3.50x=36.18

4.80x-3.50x=36.18-31.5

1.3x=4.68

x=3.6

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0.6/(-0.9- -0.5 x -0.3)

Answers

The value of the expression is -0.8

What is PEDMAS?

PEDMAS can be described as a mathematical acronym that is used for the representation of arithmetic operations on the basis of how they are to be carried out sequentially in an equation.

The alphabet represents different operations. They are;

P represents parenthesesE represents exponentsD represents divisionM represents multiplicationA represents additionS represents subtraction

From the information given, we have that;

0.6/(-0.9- -0.5 x -0.3)

Multiply the values

0.6/(-0.9 +0. 15)

add the values

0.6/0. 75

Now, divide the values

-0.8

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In AJKL, m/J = (8x - 7), m/K = (x + 7)°, and m/L= (2x + 15)°. What
is the value of x?

Answers

Therefore, the equation for that value x = 6, and m(A) = 90.

What is a formula or equation?

A mathematical equation expresses two things as being equal to one another, or as having the same value and worth. A specific equation that expresses a significant link between variables and numbers is called a formula.

The fact that the sum of a triangle's angles is 180 degrees must be used to determine the value of x. Angles J, A, and K in the triangle AJK allow us to write:

m(J) + m(A) + m(K) = 180

We can substitute the given angle measures into this equation:

(8x - 7) + m(A) + (x + 7) = 180

Simplifying this equation, we get:

9x + m(A) = 180 - 7 - 7

9x + m(A) = 166

We can use the same reasoning for triangle AJL:

m(J) + m(A) + m(L) = 180

Substituting the given angle measures, we get:

(8x - 7) + m(A) + (2x + 15) = 180

Simplifying this equation, we get:

10x + m(A) = 172

The two unknowns in our current set of equations are x and m(A). By removing the first equation from the second, we can find m(A):

10x + m(A) = 172

(9x + m(A) = 166)

x = 6

Now that we know x, we can substitute it into either equation to find m(A):

8x - 7 + m(A) + x + 7 = 180

15x + m(A) = 180

m(A) = 180 - 15x

Substituting x = 6, we get:

m(A) = 180 - 15(6) = 90

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El perímetro de un campo rectangular es 300 m . Si la longitud del campo es 88 , ¿cuál es su anchura?

Answers

Based on the above, the width of the field is 62 meters.

What is the width?

Based on the question, Let's say that the width of the field is  denoted with 'w'.

Note that the formula for the perimeter (P) of a rectangle is:

P = 2(l + w)

where"

l = length

w =  width.

Fixing the values into the equation, it will be:

300 = 2(88 + w)

So, Divide both sides by 2:

150 = 88 + w

Subtract 88 from both sides:

w = 150 - 88

w = 62

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Se text below

The perimeter of a rectangular field is 300 m. If the length of the field is 88 , what is its width?

For the graph of a function y​=f(x) shown to the​ right, find the absolute maximum and the absolute​ minimum, if they exist. Identify any local maxima or local minima.

Answers

Answer:

B) There is no absolute max for y=f(x)

Step-by-step explanation:

There is no absolute max as the function increases infinitely

However there is an absolute minimum at x=0

Consider the function f(x)=−4.6|x+2|+7.

About what line is the graph of the function symmetric?

Enter your answer in the box.

Answers

The graph of the function f(x)=−4.6|x+2|+7 is symmetric at x = -2

About what line is the graph of the function symmetric?

From the question, we have the following parameters that can be used in our computation:

The function f(x)=−4.6|x+2|+7.

The function f(x)=−4.6|x+2|+7 is an absolute value function

An absolute value function is represented as

f(x) = a|x - h| + k

Where the line of symmetry is

x = h

Using the above as a guide, we have the following:

Line of symmetry: x = -2

Hence, the graph of the function is symmetric at x = -2

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A graph is shown.
6987654321
10
0 1 2 3 4 5 6 7 8 9 10
Which ordered pair describes a point that should be removed from the graph so that the graph represents a function?

Answers

An ordered pair that describes a point that should be removed from the graph so that the graph represents a function include the following: A. (1, 1).

What is a function?

In Mathematics and Geometry, a function can be defined as a mathematical equation which is typically used for defining and representing the relationship that exists between two or more variables such as an ordered pair.

Based on the graph shown below, we can reasonably infer and logically deduce that it does not represent a function because the input values (domain or independent values) are not uniquely mapped to the output values (range or dependent values);

3  → 1

1 → 1

In this context, we can reasonably infer and logically deduce that either (3, 1) or (1, 1) must be removed from the graph in order to represent a function.

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Missing information:

The question is incomplete and the complete question is shown in the attached picture.

Suppose a city with population 500,000 has been growing at a rate of 4.3% per year. If this rate​ continues, find the population of this city in 10 years

In the Show Your Work box, must have the following:
- 1 pt- Formula used
- 1 pt- Variables and what they stand for
- 3 pts- Full solving process

Answers

Answer:

t = time in years

p(t) = population at time t

[tex]p(t) = 500000( {1.043}^{t} )[/tex]

[tex]p(10) = 500000( {1.043}^{10}) = 761751 [/tex]

In the diagram below, BE intersects AD at C, AB | DE. If CD = 4.2 and AB = 9.6, what is the length of
BC to the nearest tenth of a centimeter?

Dont mind the writing

Answers

The length of BC, to the nearest tenth of a centimeter, is calculated as: 12.6 centimeter.

How to Find the Length of the Indicated Side?

Recall that two similar triangles will always have side lengths that are proportional in length. The triangles shown are similar to each other, therefore, the proportion below would be true:

AC/CE = BC/CD

Given the following:

AC = 7.2 units

CE = 2.4 units

CD = 4.2 units

BC = ?

Plug in the values:

7.2/2.4 = BC/4.2

Cross multiply:

BC = 7.2 * 4.2 / 2.4

BC = 12.6 cm

Thus, the length of side BC in the similar triangles shown is approximately 12.6 cm.

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given h(t)=4t and k(t)=t+5t−1 , determine the expressions that are equal to these combinations of h(t) and k(t) . h(t)+k(t) h(t)−k(t) h(t)+k(t)h(t)−k(t) t2+t+4t2+9t−4 −t2+9t−4t2+t+4 t2+4t+4t2−1 −t2+t+4t2−t −t2+4t−6t2−1 t2+9t−4t2−t

Answers

The expressions are written as;

h(t)+k(t) = 10t - 1

h(t)−k(t) = -2t + 1

How to determine the expressions

Note that algebraic expressions are described as expressions that are made up of coefficients, variables, terms, constants and factors.

These expressions are made up of arithmetic operations, which includes;

AdditionMultiplicationDivisionBracketParenthesesSubtraction

From the information given, we have that;

h(t)=4t

k(t)=t+5t−1

To determine the value of h(t) + k(t), we have;

4t + t + 5t - 1

add the like terms, we get;

10t - 1

To determine h(t) = k(t)

4t- t - 5t + 1

add like terms

-2t + 1

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I NEED HELP WITH STATISTICS

Answers

The median of this data set is equal to 9.

The mean of this data set is equal to 13.7.

The number of mode that this data set have is zero modes.

How to calculate the mean for the set of data?

In Mathematics and Geometry, the mean for this set of data can be calculated by using the following formula:

Mean = [F(x)]/n

For the total number of data, we have;

Total, F(x) = 26+ 0 -1 + 33 + 2 + 31 + 10 + 21 + 7 + 8

Total, F(x) = 137

Mean = 137/10

Mean = 13.7.

Median = (8 + 10)/2

Median = 18/2

Median = 9.

In conclusion, the mode of the data set is non-existent or zero modes because all of the number have the same frequency.

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With workings please

Answers

The probability that he passes Math and does not pass Physics is given as follows:

0.28 = 28%.

How to calculate a probability?

A probability is calculated as the division of the desired number of outcomes by the total number of outcomes in the context of a problem/experiment.

The probabilities for each event is given as follows:

Passes Math: 0.7.Does not pass Physics: 1 - 0.6 = 0.4.

The events are independent, hence the probability that he passes Math and does not pass Physics is given by the multiplication of the probabilities of each event, as follows:

0.7 x 0.4 = 0.28 = 28%.

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A solution has a total mass of 400 g. If the solvent has a mass of 236 g of the total mass, what is the strength of the drug?

Answers

In a case whereby A solution has a total mass of 400 g. If the solvent has a mass of 236 g of the total mass, the strength of the drug  can be expressed as 41%.

How can the strength of the drug be calculated?

From the question, the total mass =400 g

The solvent mass = 236 g

Then the mass of the drug = 400-236

= 164

Then the mass percentage of the drug can be calculated as 164/400 * 100

= 41%

Therefore, the strenght of the drug can be expressed as  41%

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100 POINTS!!!!!! please answer will give brainliest If the length of each side of the right triangle shown on the grid is measured in cm; find the area of the triangle: 25 cm2 50 cm2 100 cm? 225 cm?'

Answers

Answer:

B) 50cm^2

Step-by-step explanation:

What's the answer to this problem

Answers

The function shows that the chairs and sofas the manufacturer should produce to earn that profit is C. (6, 12) P= 1,260

How to explain the function

The profit function is P = 50x + 80y.

In order to find the optimal production quantities that will maximize the profit function, we need to determine which vertex yields the highest profit.

From the given vertices, we can see that the profit at (0,0) is 0. The profit at (0,15) is 1,200, and the profit at (6,12) is 1,260.

Therefore, the manufacturer should produce 6 chairs and 12 sofas to earn a profit of 1,260.

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At a discount store,all DVDs have the same price. Chan bought 6 DVDs and paid a total of $62.87,which includes $2.99 in sales tax.What is the first step in finding the cost of one DVD? Complete the drip diagram to solve the first step. Please help!!!

Answers

Step-by-step explanation:

Answer

The price of 6 DVDs, including sales tax = $62.87

Sales tax = $2.99

Required:

The cost of one DVD.

Explanation:

Step 1: Price of 6 DVDs excluding sales tax.

The price of 6 DVDs excluding sales tax = $62.87 - $2.99 = $59.88

Step 2: Use the Unitary Method:

According to the question,

6 DVDs price = $59.88

1 DVD price excluding sales tax = $ 59.88/6

What is the measure of Zx?
Angles are not necessarily drawn to scale.
H
A
45
63
I
K

Answers

Applying the triangle sum theorem, the measure of angle x is calculated as: m<x = 72 degrees.

What is the Triangle Sum Theorem?

In a triangle, when all of its interior angles are added together, the triangle sum theorem states that we will get a sum of 180 degrees.

Therefore, we have:

m<AHI = 63 degrees [based on the corresponding angles theorem]

Considering triangle AHI, applying the triangle sum theorem, we will have the following:

m<x + m<AHI + m<A = 180°

Substitute:

m<x + 63 + 45 = 180°

m<x + 108 = 180°

m<x = 180 - 108 [subtraction property of equality]

m<x = 72 degrees.

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x+2y=5
4x+8y=20
I need help asap

Answers

Answer:

(x, -1/2x + 5/2) or infinitely many solutions

Step-by-step explanation:

We can solve the system of equations using substitution.  We can start by isolating x in the first equation.  Then, we can plug in the entire equation made from isolating for x in the second equation, which will allow us to find y:

Isolating:

x = -2y + 5

Plugging in and solving for y:

4(-2y + 5) + 8y = 20

-8y + 20 + 8y = 20

20 = 20

We see that we get a constant equal to another constant.  Whenever you get this as a solution to a system of equations, this means that there are infinitely many solutions. We can express the general rule for the solution in coordinate form by isolating y in at least one of the equations:

y = -1/2x + 5/2

Thus, the general rule for the solution to the system of equations is

(x, -1/2x + 5/2), so you can either put this general rule as the answer or write solution = infinitely many solutions

You can see that there are infinitely many solutions by plugging in any number for x into the two equations and see that you get 5 for the equation and 20 for the second equation.  Let's try 4 for x and 0 for x:

4 for x in first equation:

4 + 2(-1/2(4) + 5/2) = 5

4 + 2(0.5) = 5

4 + 1 = 5

5 = 5

4 for x in the second equation

4(4) + 8(-1/2(4) + 5/2) = 20

16 + 8(0.5) = 20

16 +4 = 20

20 = 20

0 for x in the first equation:

0 + 2(-1/2(0) + 5/2) = 5

0 + 2(2.5) = 5

5 = 5

0 for x in the second equation:

4(0) + 8(-1/2(0) + 5/2) = 20

0 + 8(2.5) = 20

20 = 20

Hypothesis testing question.

From a sample of 30 patients, Divoc Health Group found that the mean days for a patient to discharge is 25 days. The hospitalization duration was assumed to follow a normal distribution. Last year, the mean days for a patient to discharge was 20 days with a standard deviation of 5 days. Divoc Health Group suspects that the mean days for a patient to discharge has increased because of Covid-19 cases and other health-related issues. Divoc Health Group decides to carry out a hypothesis test.

a) State the null and alternative hypotheses.

b) At a 5% significance level, is there sufficient evidence to conclude that the mean days for a patient to discharge has increased? Show all steps clearly. [Express your answers up to 3 decimal places]

Based on the information, Divoc Health Group now samples an additional 10 clients. The mean days for a patient to discharge were 22 days.

c) Using the new information, construct a 95% confidence interval for the mean days for a patient to discharge. [Express your answers up to 3 decimal places]

d) What is the minimum sample size required if Divoc Health Group wants to estimate the mean days for a patient to discharge to within 2 days of error with a 99% confidence?

Answers

a) Null: Mean = 20 days; Alt: Mean > 20 days. b) supported by t-value 6.708 > critical value at α=0.05. c) 95% confidence interval for mean patient discharge time is between 20.528 and 23.472 days, d) 99% confidence, a minimum sample size of 67 patients is required.

a) The null hypothesis is that the mean days for a patient to discharge is still 20 days, while the alternative hypothesis is that the mean days for a patient to discharge has increased and is now greater than 20 days.

Null hypothesis: 0:  = 20

Alternative hypothesis: 1:  > 20

b) We can use a one-sample t-test to test the hypothesis. We will use a significance level of 0.05.

The test statistic is given by:

t = (x - ) / (s / √n)

where x is the sample mean,  is the hypothesized population mean, s is the sample standard deviation, and n is the sample size.

Here, x = 25,  = 20, s = 5, and n = 30. Plugging these values into the formula, we get:

t = (25 - 20) / (5 / √30) = 6.708

The degrees of freedom (df) for the t-distribution is n - 1 = 29. Using a t-table or calculator, the p-value for a one-tailed test with df = 29 and t = 6.708 is < 0.0001.

Since the p-value is less than the significance level of 0.05, we reject the null hypothesis. There is sufficient evidence to conclude that the mean days for a patient to discharge has increased.

c) To construct a 95% confidence interval for the mean days for a patient to discharge, we use the formula:

CI = x ± tα/2 * (s/√n)

where x is the sample mean, s is the sample standard deviation, n is the sample size, and tα/2 is the critical value for a t-distribution with df = n-1 and α = 0.05/2 = 0.025.

Here, x = 22, s = 5, and n = 40 (30 from the first sample + 10 from the second sample). The critical value for tα/2 with df = 39 is 2.022.

Plugging these values into the formula, we get:

CI = 22 ± 2.022 * (5/√40) = (20.528, 23.472)

Therefore, we can be 95% confident that the true mean days for a patient to discharge is between 20.528 and 23.472 days.

d) To find the minimum sample size required to estimate the mean days for a patient to discharge to within 2 days of error with a 99% confidence, we use the formula:

n = (zα/2 * s / E)²

where zα/2 is the critical value for a z-distribution with α = 0.01/2 = 0.005, s is the sample standard deviation (which we assume is the same as before, i.e., s = 5), and E is the desired margin of error (which is 2 days).

Plugging in the values, we get:

n = (2.576 * 5 / 2)² = 66.18

Therefore, the minimum sample size required is 67 patients.

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1 Soo divides a square into sixths. She colors one of the
equal parts red. What fraction of the square is red?

Answers

The fraction of the square that is red is 1/6.

Define fraction

A fraction is a number that represents a part or parts of a whole. It consists of two numbers separated by a horizontal or diagonal line, with the number above the line (numerator) representing the part and the number below the line (denominator) representing the whole. For example, the fraction 3/4 represents three parts out of a whole that is divided into four equal parts.

A square divided into six equal parts has six equal sixths.

If Soo colors one of these equal parts red, then she has colored one-sixth of the square red.

Therefore, the fraction of the square that is red is 1/6.

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How do you leave 6.92820323 in three significant numbers

Answers

Answer:

6.92

Step-by-step explanation:

When ever there are also of decimal places you must at least write the first 2 only.

Hope this helps

please mark me brainliest ♥️

6.92
that is the answer to your question

Help pleaseee


Expand the logarithm as much as possible


logy^10

Answers

The expanded form of log y^10 is either 10 log y or 10 ln y

Expanding the logarithm

Assuming that the base of the logarithm is not specified, we can use the change of base formula to expand the logarithm:

log y^10 = log (y^10) / log (base)

Since the base is not specified, we can use any base we like. For example, we can use base 10 or base e (natural logarithm).

Using base 10:

log y^10 = log (y^10) / log 10

= 10 log y / 1

= 10 log y

Using natural logarithm:

log y^10 = log (y^10) / log e

= 10 log y / 1

= 10 ln y

Therefore, the expanded form of log y^10 is either 10 log y or 10 ln y, depending on the base used.

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Transactions on Furnell's credit card are shown for the month of June. The interest rate is 1.4% per month.

June 1 Balance $352.12
June 4 Sears $331.89
June 8 eBay $81.58
June 15 Outback $30
June 18 Payment $200




Find the average daily balance $
184.89

Find the interest for the month $

Find the balance for the following month $

Answers

The balance for the following month is $598.18.

How to solve

The average daily balance for June is $184.89.

To calculate the interest for the month, multiply the average daily balance by the interest rate: $184.89 * 1.4% = $2.59.

To find the balance for the following month, add the initial balance, transactions, and interest, then subtract the payment: $352.12 + $331.89 + $81.58 + $30 + $2.59 - $200 = $598.18.

The balance for the following month is $598.18.


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The hanger image below represents a balanced equation. Select an equation that represents the image. Choose 1 answer: (Choice A) 45 = 3 + � , equals, 3, plus, z A 45 = 3 + � , equals, 3, plus, z (Choice B, Checked) 45 = 3 � equals, 3, z B 45 = 3 � equals, 3, z Find the value of � z that makes the equation true. � z, equals

Answers

The balanced equation of the hanger is 3z = 45 and the solution is z = 15

Selecting an equation that represents the image

From the question, we have the following parameters that can be used in our computation:

The hanger image

On the hanger image, we have the following

One side = z + z + z

The other side = 45

The expressions on either sides must be equal to have a balanced equation

So, we have

z + z + z = 45

Evaluate the like terms

3z = 45

Divide both sides of the equation by 3

z = 15

Hence, the balanced equation is 3z = 45 and the solution is z = 15

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The scale of this blueprint of an art gallery is 1 in 48 ft. find the actual lengths of the following walls.

Answers

The calculated values of the actual lengths of the walls are AB = 144 ft, CD = 288 ft, EF = 528 ft and EF = 240 ft

Finding the actual lengths of the walls.

From the question, we have the following parameters that can be used in our computation:

Scale of blueprint = 1 in : 48 ft

This means that

Scale = 48 ft/1in

Calculating the actual lengths of the walls, we have

AB = 3in * 48 ft/1in

AB = 144 ft

CD = 6in * 48 ft/1in

CD = 288 ft

EF = 11in * 48 ft/1in

EF = 528 ft

FG = 5in * 48 ft/1in

EF = 240 ft

Hence, the actual lengths of the walls are AB = 144 ft, CD = 288 ft, EF = 528 ft and EF = 240 ft

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Kelly bought a new SUV for $28,000. She made a down payment of $11,000 and has monthly payments of $332.63 for 5 years. She is able to pay off her loan at the end of 36 months. Using the actuarial method, find the unearned interest and payoff amount.

Answers

The unearned interest and the payoff amount is $11,022.12 and $18,784.87 respectively

Given data ,

Kelly bought a new SUV for $28,000. She made a down payment of $11,000 and has monthly payments of $332.63 for 5 years.

She is able to pay off her loan at the end of 36 months.

Now , Total interest = (monthly payment x number of months) - loan amount

Total interest = ($332.63 x 60) - $17,000

Total interest = $19,957.80

Next, we need to calculate the interest that has already been paid over the first 36 months of the loan. We can use the formula:

Interest paid = (monthly payment x number of months) - (loan amount - down payment)

Interest paid = ($332.63 x 36) - ($28,000 - $11,000)

Interest paid = $8,935.68

The unearned interest is the difference between the total interest and the interest paid so far:

Unearned interest = total interest - interest paid

Unearned interest = $19,957.80 - $8,935.68

Unearned interest = $11,022.12

To find the payoff amount, we need to add the remaining principal balance to the unearned interest:

Payoff amount = remaining balance + unearned interest

To calculate the remaining balance, we can use the formula for the present value of an annuity:

Remaining balance = monthly payment x (1 - (1 + r)^-n) / r

Where r is the monthly interest rate and n is the number of remaining months. We can solve for r by using the total interest calculated earlier:

r = (Total interest / loan amount) / 12

r = ($19,957.80 / $17,000) / 12

r = 0.0986%

Using this interest rate and n = 24 (the remaining 24 months of the loan), we can calculate the remaining balance:

Remaining balance = $332.63 x (1 - (1 + 0.0986%)^-24) / 0.0986%

Remaining balance = $7,762.75

Payoff amount = $7,762.75 + $11,022.12

Payoff amount = $18,784.87

Hence , the interest is solved

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Encik Halim bought 108 lemons to sell at his grocery shop. He packed 3 lemons in small packets and sold at the price of RM6.80 per packet. If he made a total profit of RM88.20, calculate the price of each lemon bought by him.​

Answers

Answer:

the price of each lemon bought by Encik Halim is RM1.45.

Step-by-step explanation:

Encik Halim bought 108 lemons and packed them into packets of 3 lemons each. So he made a total of 108/3 = 36 packets.

Let's assume that the cost of each lemon bought by Encik Halim is x RM.

The total cost of 108 lemons would then be 108x RM.

Encik Halim sold each packet at a price of RM6.80, so the total revenue he earned from selling 36 packets would be 36 x RM6.80 = RM244.80.

We are told that Encik Halim made a profit of RM88.20 from the sale of these packets, so his total cost would be:

Total cost = Total revenue - Profit

Total cost = RM244.80 - RM88.20

Total cost = RM156.60

We know that Encik Halim bought 108 lemons, so we can write:

Total cost = Number of lemons bought x Cost per lemon

RM156.60 = 108x

Therefore, the cost per lemon bought by Encik Halim is:

x = RM156.60/108

x = RM1.45

So the price of each lemon bought by Encik Halim is RM1.45.

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