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

how do I solve this triangle problem!!!​

Answers

Answer:

Angles 1 and 2 are both 60, and angle 3 is 120

Step-by-step explanation:

Answer:

The total if a triangle is 180, for a right angle so 180 subtract the number u have and 90 plus the number u have and the number u got

Ann and Bob split some money in the ratio 4:2. Ann got £4 more than Bob. How much did Bob get?​

Answers

Answer:

$4

Step-by-step explanation:

A 4:2 ratio is the same as a 2:1 ratio, so Ann receives double what Bob gets.

If Ann gets 8 dollars and Bob gets 4, then Ann would have $4 more than Bob, and it would follow the appropriate ratio.

True or False?
If you multiply two matrices and obtain the identity matrix, it can be assumed the matrices are inverses of one another.
Explanation:​

Answers

Answer:

False

Step-by-step explanation:

This is all I can think of.

Multiply two matrices and obtain the identity matrix, it can be assumed the matrices are inverses of one another. so, this statement is true.

Inverse of matrix is a matrix derived from another matrix such that if you multiply the two you get a unit matrix. Square matrices with a an inverse are called non singular matrices while those without an inverse are called singular matrices (determinant is zero). Inverses and determinant are only calculated for square matrices.

Two matrices are said to be inverse of each other.

If A B = B A = I, where I is the identity matrix.

So, the matrices are inverses of one another if the product of two square matrices is the identity matrix.

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Mai and Noah each leave their houses at the same time and ride their bikes to the park.

Here are the equations that you found that might help you:
_____________________________________________

Noah -> $$
and $$

Mai -> $$
and $$
______________________________________________
How long in minutes will it take Noah to reach the park?
How long in minutes will it take Mai to reach the park?
Who will arrive at the park first?

Noah
Mai

Answers

Answer : I think it’s Noah
But I might be wrong

a dolphin in a aquaruim is 12 feet long. A scale model of the dolphin is 3 1/2 in long. What is the scale factor of the model

Answers

Answer:The scale factor= 1 : 41.14

Step-by-step explanation:

I did research on it

what is 1/10 of 0.02

Answers

Answer:

0.002

Step-by-step explanation:

You just move the decimal over one place. This is the same as dividing by 10. Hope this helps!

ljfehhgsdddzcSDJCHjgsDdlhfcgadscbsdhcSDMlnSBDZx

Answers

Answer:

?

Step-by-step explanation:

Read the excerpt from "Myths About the Founding Fathers This is the truth Revere did ride from Boston to Lexington to warn Hancock and Adams, but he didn't go alone William Dawes took a different route to Lexington, joining Revere and Dr. Samuel Prescott. All three had been spreading the word that the regulars are coming along the way. There may have been as many as forty others who helped.

How do these sentences contribute to the development of ideas in the passage?

It explains how myths about Paul Revere came to

It highlights the importance of lessons to be learned from myths

It provides evidence that Revere's actions were exaggerated in myths

It shows that this are often based on real events​

Answers

Answer: it shows that myths are often based on real events. Hope it helps

Step-by-step explanation:

i took the test on the k-12 site and the was the answer cuz i got it correct.

Determine the slope of the line passing through the points (5, 8) and (-3, 10).

1. -1/2
2. -1/4
3. 1/2
4. -4

Answers

Answer:

The answer is option 2

Step-by-step explanation:

The slope of a line given two points can be found by using the formula

[tex]m = \frac{ y_2 - y _ 1}{x_ 2 - x_ 1} \\ [/tex]

From the question we have

[tex]m = \frac{10 - 8}{ - 3 - 5} = \frac{2}{ - 8} = - \frac{2}{8} = - \frac{1}{4} \\ [/tex]

We have the final answer as

[tex] - \frac{1}{4} \\ [/tex]

Hope this helps you

Answer:

-1/4. ..................,..

Hadley paddled a canoe 2 miles in 1/9 of
an hour How far could Hadley paddle in
1 hour?

Answers

Answer: 18 miles

explanation: set up a proportion. (2 over 1/9 = x over 1). cross multiply, 2x1=2, then divide 2/(1/9)=18.

Find the value of x
(8x - 23)
34

Answers

Answer: 12

34 + 2(8x -23) = 180
34 + 16x - 46 = 180
16x = 180 + 46 - 34
16x = 192
x = 12

In the given triangle, the value of x is 12.

What is a triangle?

A triangle is a geometric figure with three edges, three angles and three vertices. It is a basic figure in geometry.

The sum of the all three angles of a triangle is always 180°

In the given Triangle ABC,

AB= AC,

∠A = 34° and ∠C = (8x-23)°

Since, two sides of a triangle are equal, therefore their corresponding angle will be equal,

Implies that ∠C=∠B

The sum of all three angles of a triangle is 180°.

⇒∠A+∠B+∠C = 180°

⇒34+8x-23+8x-23 = 180

⇒16x-12=180

⇒16x=192

⇒x=12

The value of x is 12.

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I need to find the slope.​

Answers

Answer:

The slope is 3/2

Answer :
3/2

Rise 3
Run 2

Graph the lines in standard form 2x+y=9

Answers

Answer:

to graph this all you need to do is plot the y-intercerpt which is 9 in this case. then use the slop (-2) which means go two down from the y intercept and one to the right. all you need to do then is connect the points with a line.

9514 1404 393

Answer:

  see attached

Step-by-step explanation:

A graphing calculator produces a graph very nicely.

__

Setting x=0, you have the equation y=9, so you know the y-intercept.

Setting y=0, you have the equation 2x=9, so you know the x-intercept is 9/2 = 4.5. It can be easier to set y=1 to find the corresponding point x=(9-1)/2 = 4.

Through the points (0, 9) and (4, 1), you can draw the line representing the relation.

josie walks 3/4 miles in 1/5 hour. what is josie’s speed in miles per hour

Answers

Answer:

3 miles per hour

Step-by-step explanation:

3 times 5 is 15 15 divided by 4 is 3

Josie's speed will be 15/4 miles per hour.

What is Division method?

Division method is used to distributing a group of things into equal parts. Division is just opposite of multiplications.

For example, dividing 20 by 2 means splitting 20 into 2 equal groups of 10.

Given that;

Josie walks 3/4 miles in 1/5 hour.

Now,

The distance = 3/4 miles

The time = 1/5 hour

Since, We know that;

Speed = Distance / Time

Substitute all the values, we get;

Speed = 3/4 miles / 1/5 hour

          = 3 x 5 / 4

          = 15/4 miles per hour

Thus, Josie's speed will be 15/4 miles per hour.

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Why is this the answer can u show work please

Giving extra points

Answers

Please mark brainliest!

What is the equation?

Answers

Answer: y= 2x + 2

Step-by-step explanation:

Yeah she is correct

find the third side in simplest radical form.

Answers

Answer: i like hot dogs

Step-by-step explanation: real good

Answer:

C=11.3

Step-by-step explanation:

8(2)+8(2)=C(2)

8×8=64 8×8=64

64+64=128

128=C(2)

On the caculator press 2nd then x2 then add in 128.

11.31=11.3

C=11.3

.............................................

.

Answers

Answer:  Thank you for the points!!:)

Step-by-step explanation:

btw Can i have brainliest?

write an equation that passes through points (-6,1) (4,3)

Answers

[tex]y=mx+b[/tex]

First, we find the slope.

[tex]m=\frac{y_2-y_1}{x_2-x_1} \\m=\frac{3-1}{4+6} \\m=\frac{2}{10}\\m=\frac{1}{5}[/tex]

Second, we know the slope. Substitute any ordered pairs that are given in the equation.

[tex]y=mx+b\\y=\frac{1}{5}x+b\\[/tex]

I'll use the ordered pairs (4,3) as I substitute x = 4 and y = 3.

[tex]3=\frac{1}{5}(4)+b\\3=\frac{4}{5}+b\\15=4+5b\\15-4=5b\\11=5b\\\frac{11}{5}=b[/tex]

Therefore, the equation is [tex]y=\frac{1}{5}x+\frac{11}{5}[/tex]

{ first 6 square numbers}​

Answers

Answer:

{ 1, 4, 9 , 16 , 25, 36}

Step-by-step explanation:

hope that will help you

$600 7) Nika puts 42 beads in each necklace. Which is the best way to use rounding numbers to estimate the number of beads Nika needs for 2 necklaces? 25 x 45 O 30 x 30 O 20 x 40 O 30 x 40​

Answers

Answer:

20 X 40 = 800 (split into 2 fourths) = 40

Step-by-step explanation

20 x 40 = 800;

For 2 necklaces she can split 800 into fourths.

800 - 40 = 80. (1 fourth)

80 - 40 = 40 (2 fourths)

40 - 40 = 0 (3 fourths)

She could split 800 into 2 fourths to get a number more than 0 and less then 42.

The best estimate of rounding 42 is 40. Because 40 is closer to 42.

Which of the following is NOT one of the three types of cash discounts?
A. ordinary dating
B. POS
C. EOM
D. ROG

Answers

A is the correct answer

Answer:

B. POS

Step-by-step explanation:

It states in chapter 27 that the three types of cash discounts are: ordinary dating method, end of month (EOM), and receipt of goods (ROG) discounts it doesn't mention POS.

On a map, 12 inch represents 45 mile.

What distance on the map represents 1 mile?


​ 25 ​ in.

​ 58 ​ in.

​ 135 ​ in.

​​ 212 ​ in.


I'll give brainlyest.

Answers

Answer:  5/8 inch represents 1 mile

Step-by-step explanation:

to get 1, multiply 4/5 by its reciprocal, 5/4

Then multiply 1/2 by 5/4

1/2 × 5/4 = 5/8

Answer: The correct answer is 5/8

Step-by-step explanation: Answer verified as correct on test

What is the percentage of y=2200(1.074)^x

Answers

7.4% percentage rate of change
7.4% should be the answer!

AABC~ AQRS
Find the missing side length, m.
AR
В B.
h 7.2.
6
10
12.
А.
"C с
3
m
S
ol

Answers

Find the scale factor then multiply 3 by scale factor to find m. Scale factor is found by dividing larger side by smaller side. In this example, divide 10 by 6. (10 / 6 = 1.66666...) This means the larger triangle is 1.6x bigger than the smaller one. Then multiply 3 by 1.6666.. to find m. Hope this helps! :)


Btw your answer would be m = 5 but I didn’t want to give that away right away.

28 divided by a number s

Answers

Answer:

28/s

Step-by-step explanation:

I assume that you are wanting an algebraic expression written. if not, please let me know!

When we divide numbers by each other, we write them as a fraction, the number being divided over the number it's divided by. in this case, the number we're dividing is 28, and the number we're dividing it by an unknown factor s.

Hi ZVAID!! The answer is if you’re looking for the quotient then the answer is 28/s=x, x being the variable in the problem. Hope this helps. And I just want to say thank you for your help. On my question.

Geometry
What is the range of possible values for x? The diagram is not to scale.

Answers

Where is the diagram? How do we answer without it?

What sample size is necessary such that a 98% confidence interval for the mean, using σ = 3, has a width of pm±0.5?

Answers

Answer:

n = 195

Step-by-step explanation:

What sample size is necessary such that a 98% confidence interval for the mean, using σ = 3, has a width of pm±0.5?

We solve using Margin of error formula

= z × Standard deviation/√n

Margin of error = ± 0.5

Standard deviation = 3

n = ??

z = 2.326

Hence,

±0.5 = 2.326 × 3/√n

Cross Multiply

±0.5 × √n = 6.978

√n = 6.978/±0.5

√n = ±13.956

Square both sides

n = (±13.956)²

n = 194.769936

Approximately = 195 samples

Round 2,795 to the nearest ten

Answers

Answer:

2,800

Step-by-step explanation:

Answer:

2,800

Step-by-step explanation:

95 rounded up is 100

so its 2,800

Find the value of x and y.
12x and 9y

Answers

There is not enough information to find the value of 12x and 9y.

you have to give us more information, send a picture please
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