Today is your 10th birthday, and you decide to start saving for your college education. You will begin college on your 20th birthday and will need to pay ksh144,000 at beginning of first in a 4- year program. Fees will increase at inflation rate of 10% per year. You will make a deposit 1 year from today in an account paying 12% (percent) annually and continue to make an identical deposit each year up to and including the year you begin college. What should be the size of your deposit?

Answers

Answer 1

Answer:

The size of your deposit should be $13,023.92.

Step-by-step explanation:

First, the real interest has to be calculated using the following formula:

r = [(1 + i) / (1 + inf)] - 1 ..................... (1)

Where;

i = market interest rate = Interest rate on the account = 12%, or 0.12

r = real interest rate = ?

inf = inflation rate = 10%, or 0.10

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

r = [(1 + 0.12) / (1 + 0.10)] - 1 = 0.0181818181818183

Since you will need to pay ksh144,000 at beginning of first in a 4- year program, this implies that the relevant to use in calculating the size of the deposit is the formula for calculating the Future Value (FV) of an Annuity Due as follows:

FV = P * (((1 + r)^n - 1) / r) * (1 + r) ................................. (2)

Where,

FV = Future value or the amount needed to pay on the 20th birthday = ksh144,000

P = Fixed annual payment or size of the deposit = ?

r = real interest rate = 0.0181818181818183

n = number of years = 20 - 10 = 10 (Since you will make a deposit 1 year from today annually and continue to make an identical deposit each year up to and including the year you begin college.)

Substituting the values into equation (2) and solve for P, we have:

144,000 = P * (((1 + 0.0181818181818183)^10 - 1) / 0.0181818181818183) * (1 + 0.0181818181818183)

144,000 = P * 10.8591414092614 * 1.0181818181818183

144,000 = P * 11.0565803439752

P = 144,000 / 11.0565803439752

P = $ 13,023.92

Therefore, the size of your deposit should be $13,023.92.


Related Questions

Can someone plz help me plz and thank u

Answers

Here you go
I divided by 4 because it’s 1/4 of a cylinder

Math 2 5.3 Triangle worksheet 1-8

Answers

1) m<DCB = <D + <C + <B

180 = 25 + 90 + <C  (Angle Sum Property)

180 = 115 + <C

180 - 115 = <C

65 = <C

can someone help me figure this out?

Answers

Answer:

Step-by-step explanation:

i dont know this I am sorry :(

Answer:

Tree C

Step-by-step explanation:

each of the charts/tables/paragraphs are talking about a different tree.

Tree A started with 5 inches, as it says.

Tree B started with 3 inches, as you can see under the 0 months.

Tree C, at the month 0 mark, has a height of 10 inches, so it started with 10.

10>5 and 10>4, so Tree C is the biggest

Why are 1997 pennies worth almost twenty dollars

Answers

Answer:  Most 1997 pennies in circulated condition are only worth their face value of $0.01. These coins can only sell for a premium in uncirculated condition. The 1997 penny with no mint mark and the 1997 D penny are each worth around $0.30 in uncirculated condition with an MS 65 grade. unless you have an very rare 1997 penny thats then when it would become worth 20$

Someone help me please

Answers

Answer:

This is the answer48 cm²

Answer:

A = 44 cm²

Step-by-step explanation:

The area (A) of a trapezoid is calculated as

A = [tex]\frac{1}{2}[/tex] h (b₁ + b₂ )

where h is the perpendicular height and b₁, b₂ the parallel bases

We require to find the missing segment of b₁

Using the tangent ratio in the right triangle

tan45° = [tex]\frac{opposite}{adjacent}[/tex] = [tex]\frac{4}{adjacent}[/tex] = 1 , so

adjacent = 4

Then

b₁ = 4 + 8 + 2 = 14 , b₂ = 8 and h = 4 , then

A = [tex]\frac{1}{2}[/tex] × 4 × (14 + 8) = 2 × 22 = 44 cm²

The area of the triangle is 42 square inches. Determine the length of the height, by applying the formula of area of triangle.

Answers

Answer:

The answer is height=7

Step-by-step explanation:

Formula needed for this problem is Area= Base times Height divided by 2.

The first step to solving this problem is to do the exact opposite of this formula. since we already know the area we will multiply that by two to get 84. Then 84 will be divided by 12 to get 7. If anything confuses you on this problem please feel free to ask!

The drama club is running a lemonade stand to raise money for its new production. A local grocery store
donated cans of lemonade and bottles of water. Cans of lemonade sell for $2.50 each and bottles of water
sell for $1.25 each. The club needs to raise at least $600 to cover the cost of renting costumes. The students
can accept a maximum of 460 cans and bottles.
Write a system of inequalities that can be used to represent this situation.
The club sells 144 cans of lemonade. What is the least number of bottles of water that must be sold to cover
the cost of renting costumes? Justify your answer.

Answers

Answer:

Part A

x + y ≤ 460...(1)

2.5·x + 1.25·y ≥ 600...(2)

Part B

The number of bottles of water the student must sell ≥ 192 bottles of water

Step-by-step explanation:

The given parameters are;

The selling price of each can of lemonade = $2.50

The selling price of each bottle of water = $1.25

The amount of money the club needs to raise = $600

The maximum number of cans and bottles the students can accept = 460

Part A

Let 'x' represent the number of cans of lemonade the students accept, and let 'y' represent the number of bottles the student accept, the system of inequalities that can be used to represent the situation can be presented as follows;

x + y ≤ 460...(1)

2.5·x + 1.25·y ≥ 600...(2)

Part B

The number of cans of lemonade the club sells, x = 144

The number of bottles of water the student must sell to cover the cost of costumes, 'y', is given from the second inequality as follows;

2.5 × 144 + 1.25·y ≥ 600

1.25·y ≥ 600 - 2.5 × 144 = 240

1.25·y ≥ 240

y ≥ 240/1.25 = 192

y ≥ 192

The number of bottles of water the student must sell = 192 bottles of water

pls answer this question correctly pls .

Answers

Answer:

Step-by-step explanation:

Fraction              Decimal                Percentage

  [tex]\frac{19}{100}[/tex]                      [tex]0.19[/tex]                           [tex]19 \%[/tex]

  [tex]\frac{3}{10}[/tex]                        [tex]0.3[/tex]                            [tex]3 0\%[/tex]

  [tex]\frac{49}{100}[/tex]                      [tex]0.49[/tex]                           [tex]49 \%[/tex]

  [tex]\frac{7}{100}[/tex]                      [tex]0.07[/tex]                            [tex]7 \%[/tex]

Answer:

First row: 19%

Decimal for 3/10: 0.3

Fraction for 0.49: 49/100

Percentage for 0.49: 49%

Decimal for 7/100: 0.07

Fraction for 7/100: 7&

Also 3% should be 30%. Just to point that out :)

Plzz I beg someone to finish ALL of this :(. I’ve stayed up all night to do this but I couldn’t figure all of them out. Pls pls pls!!! ill mark you brainliest n I can give you a thank you such as 5 Stars in return. Please take your time and I hope you all have a amazing day!
(Spam/same words/diff pics/)

Answers

Answer:

17: 6:48

18: 9:45

19: 85 minutes or 1 hour and 25 minutes

20: 165 minutes or 2 hours and 45 minutes

Step-by-step explanation:

Answer:

Step-by-step explanation:

1)

6:05

+ 0:43

6:48  is the answer

2)

8:00

+1:45

9:45  is the answer

3)

7:55

-6:30

1:25  answer

4)

8:20

-5:35

2:45 answer

Which of the following is a solution to the quadratic equation below?
X2 + 14x +45=0
O A. 4
O B. -9
O C. 15
O D. 59

Answers

Answer:

B. -9

Step-by-step explanation:

X² + 14x +45=0

(x+9)(x+5)=0

x = -9 or x = -5

x = -9 is the answer

Answer:

B. -9

Step-by-step explanation:

X^2 + 14x +45=0

Factor

What two numbers multiply to 45 and add to 14

5*9 = 45

5+9 = 14

(x+5)(x+9) = 0

Using the zero product property

x+5 =0  x+9=0

x+5-5 =0-5    x+9-9 = 0-9

x = -5            x=-9

the area of a triangle is 84cm,if the base is 14cm. find the height​

Answers

Answer:

12

Step-by-step explanation:

(B x H)/2 = Area

do the inverse of this with the answer to find the result

84x2 = 168

168/14 = 12

H = 12

Answer:

[tex]height=12cm[/tex]

Step-by-step explanation:

[tex]height=2*area/b[/tex]

[tex]height=2*84/14[/tex]

[tex]height=2*6[/tex]

[tex]height=12cm[/tex]

hope this helps.....

XYZ is a right triangle Angle z is a right angle, XZ=10 YZ= √60 What is XY

Answers

Answer:

XY = [tex]4\sqrt{10}[/tex]

Step-by-step explanation:

Hope this helps u !!

What is the length of the diagonal of a 3 by 6 rectangle

Answers

Answer:

The diagonal is 6.7082 ≈ 6.71

Step-by-step explanation:

Let the diagonal be x :

To find the diagonal of a 3 by 6 rectangle

We can use the Pythagorean Theorem:

[tex]x^{2} = 3^{2} + 6^{2}[/tex]

⇒ [tex]x^{2} = 9 +36[/tex]

⇒ [tex]x^{2} = 45[/tex]

⇒ [tex]x=\sqrt{45}[/tex]

∴ [tex]x =6.7082[/tex] ≈ [tex]6.71[/tex] (corrected to 2 d.p.)

Please help! I'll give brainliest

Answers

Answer:

Step-by-step explanation:

We need a system of equations to help us solve this. One of the equations in the system is about the number of cultures bought, and the other one is about the money spent on the cultures. They are 2 very different things!

The #'s equation says that the number of cultures (c) plus the number of vials (v) totaled 57. The equation that puts that together is

c + v = 57

Now for the money part. Each culture costs $8, so the expression for that is 8c; each vial costs $1, so the expression for that is 1v; we know the amount of money spent in total was $106. The equation for that is

8c + 1v = 106

There's our system. 2 unknowns need 2 equations. Go back to the first one and solve it for either c or v. I'll solve for c, just because:

c = 57 - v. Now sub that value for c into the money equation:

8(57 - v) + v = 106 and

456 - 8v + v = 106 and

-7v = -350 so

v = 50. There are 50 vials of fruit flies. To find c, plug that into the first equation:

c + 50 = 57 so

c = 7.

contruct triangle LMN with LM=6cm,MM=9cm and LN =5cm ​

Answers

Answer:

LNM are quations the answer

Step-by-step explanation:

L=5x3 5,8 M=9x8x3+40-9 N=23-90)+90

If there are 26 students in each third-grade class and 3 third-grade classes in the school, how many students will attend an assembly for third graders if a total of 4 students are absent?

students

Answers

Answer:

The answer is 74

Step-by-step explanation:

First you need to find the number of student in total so just multiply 26 by 3 which is 78.

Then after since there are 4 students absent subtract 4 from 78 which is 74.

If AGHJ ~ ALMK, with a scale factor of 5:6,
find the perimeter of AGHJ.

Answers

Answer:

35

Step-by-step explanation:

Perimeter of LMK = 14 + 11 + 17

Perimeter of LMK = 42

Perimeter GHJ/ Perimeter LMK = 5/6

Perimeter GHJ / 42 = 5/ 6                      Cross Multiply

6*Perimeter GHJ = 42 * 5

6*Perimeter GHJ = 210                           Divide by 6

Perimeter GHJ = 210/6

Perimeter GHJ = 35

Pls help me no files just type it in thank you<333

Answers

Answer:

[tex] \large{ \tt{❃ \: EXPLANATION}} : [/tex]

We're provided - Number of kids playing soccer = 8 , Number of kids playing basketball = 16. Total number of kids at the park = 8 + 16 = 24. Now , divide 24 by 2 , you'll get 12 and that's your final answer.

[tex] \boxed{ \boxed{ \large{ \tt{۵ \: OUR \: FINAL \:ANSWER : \underline{ \tt{12}}}}}}[/tex]

-Yey! We're done ツ

▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁

find the value of x and y, (5x-3y, 3x-y) = (16, 12)

Answers

Answer:

x = 10 / 7 (or) 1.43 <rounded to 2 decimal place>

y = - 54 / 7 (or) -7.71 <rounded to 2 decimal place>

Step-by-step explanation:

Another way to rewrite (5x-3y, 3x-y) = (16, 12),

5x - 3y = 16 -- (1)

3x - y = 12 -- (2)

Rewriting (1), y = -5/3x - 16/3 -- (1)'

Substituting (1)' into (2),

3x + 5/3x + 16/3 = 12

14/3x = 20/3

x = 10 / 7 -- (3)

Substituting (3) into (2),

3(10/7) - y = 12

30/7 - y = 12

-y = 54 / 7

y = - 54/7-- (4)

Therefore,

x = 10 / 7 (or) 1.43 <rounded to 2 decimal place>

y = - 54 / 7 (or) -7.71 <rounded to 2 decimal place>

if this helps you, please mark brainliest!

The width, w , of a rectangle is 4 less than 6 times the length, r that would find the area.

Answers

Answer:

Width = w

Length = 4w + 6

Area = 130 in2

Area = W X L = 130

So, w X (4w + 6) = 130

4w2 + 6w = 130  by distributing

-130           -130

4w2 + 6w - 130 = 0

Step-by-step explanation:

Answer:

Area = 6L² - 4L

Step-by-step explanation:

Let length be L

Given Width, w is 4 less than 6 times length :

That is ,

6 times length = 6 L

4 less than 6 times length means = 6L - 4

Therefore Length  =  L

               Width = 6L - 4

Area = Length x Width

       = L x ( 6L - 4)

       = 6L² - 4L

Joel has an MP3 player called the Jumble. The Jumble randomly selects a song for the user to listen to. Joel's Jumble has 222 classical songs, 131313 rock songs, and 555 rap songs on it.
What is \text{P(rock song or rap song})P(rock song or rap song)start text, P, left parenthesis, r, o, c, k, space, s, o, n, g, space, o, r, space, r, a, p, space, s, o, n, g, end text, right parenthesis?

Answers

ANSWER

0.9

Step-by-step explanation:

no.of favourable outcome/no.of.possible outcome  

13+5=18 favourable outcome and 20 possible outcome 18/20=0.9

Answer:0.9

Step-by-step explanation: khan academy

Which table shows a function that is decreasing only over the interval (–1, 1)?

Answers

Answer:

A

Step-by-step explanation:

first graph

Answer:

A

Step-by-step explanation:

first graph

Hihi , please help if able.

Answers

Answer:

B

Step-by-step explanation:

B because all the numbers listed inside this set are equal or less than -5 which is exactly what the question is asking.

फरक परेछ? A person deposited Rs. 80,000 in bank 'P' for 2 years at the rate of 10% annual compound interest. But after one year bank has changed the policy and decided to pay semi-annual compound interest at the same rate. What is the percentage difference between compound interests of the first year and second year? Give reason with calculation, ​

Answers

Answer:

you nepali me nepali all are nepalese nepalese are only unintelligent

can I have help and pls don't answer if you don't know

Answers

Answer:

I think its A

Step-by-step explanation:

Question 2
What are the lengths of AD, DB, AE, and EC? Measure and record them.

Answers

is there a picture of a graph or something?

is there a picture of a graph or chart or something?

The diagram below is a kite. Find the slope of each side of the kite then use that information to explain why the kite is NOT a
parallelogram
Your answer might look like this (you can copy-paste the sentences below and fill in the blanks)
The slope of the side AB is The slope of the side CD is_
The slope of the side BC is
The slope of the side AD is
Finding the slopes tell me that the kite is NOT a parallelogram because

Answers

Step-by-step explanation:

the answer is in the above image

please give me brainliest

10 POINTS!!!! no work needed so just answer this 2 question hurry.

Answers

Answer:

Q19 - x = 7

Q20 - x = 24

Step-by-step explanation:

Q19.

75 + x + 8 = 90°

83 + x = 90°

x = 90 - 83

x = 7

{CHECK: 75 + 7 + 8 = 90°}

Q20.

3x - 6 + x = 90°

4x - 6 = 90°

4x = 96

x = 96 / 4

x = 24

{CHECK: 3(24) - 6 + 24 = 90°}

hope this helps...

have a great day ahead ;)

Please help me with these three questions...
I will be really thankful for help​

Answers

Answer:

1. Terminating

2. 60

3. I don't know

Step-by-step explanation:

Consider the linear function that is represented by the equation Y =-10x+6 and the linear function that is represented
by the equation Y-36 = 8(x-4). Which statement is correct regarding their slopes and y-intercepts?
O The function that is represented by the equation y=-10x+6 has a steeper slope and a greater y-intercept.
O The function that is represented by the equation y=-10x+6 has a steeper slope, and the function that is
represented by the equation Y-36 = 8(x-4) has a greater y-intercept.
O The function that is represented by the equation Y-36 = 8(x-4) has a steeper slope, and the function that is
represented by the equation Y = -10x+6 has a greater y-intercept.
O The function that is represented by the equation Y-36 = 8(x-4) has a steeper slope and a greater y-intercept.

Answers

9514 1404 393

Answer:

  (a) The function that is represented by the equation y=-10x+6 has a steeper slope and a greater y-intercept

Step-by-step explanation:

If we take the "steepness" of the slope to be the absolute value of the slope, then the line y=-10x +6 has a slope with a steepness of 10.

The line y -36 - 8(x -4) has a slope with a steepness of 8, so the first line is steeper.

The line y=-10x+6 has a y-intercept of 6. The line y-36 =8(x -4) has a y-intercept of 4, so the first line has a higher y-intercept.

The appropriate description of the two lines is ...

  The function that is represented by the equation y=-10x+6 has a steeper slope and a greater y-intercept

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