What is the solution to the equation One-fourth x minus one-eighth = Start Fraction 7 Over 8 End Fraction + one-half x? x = negative 5 x = negative 4 x = 4 x = 5.

Answer:

  b) $17,400

  d) $33,517.20

Step-by-step explanation:

a) $28,482.19 . . . . future value of all deposits

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b) The initial deposit was $3000, and there were 144 deposits of $100 each, for a total of ...

  $3000 +144×100 = $17,400 . . . . total deposited

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c) $558.62

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d) 60 monthly withdrawals were made in the amount $558.62, for a total of ...

  60×$558.62 = $33,517.20 . . . . total withdrawn

_____

Additional information about (a) and (c)

(a) The future value of the initial deposit is the deposit multiplied by the interest multiplier over the period.

  A = P(1 +r/n)^(nt) = 3000(1 +.066/12)^(12·12) = 3000·1.0055^144 ≈ 6609.065

The future value of $100 deposits each month is the sum of the series of 144 terms with common ratio 1.0055 and initial value 100.

  A = 100(1.055^144 -1)/0.0055 ≈ 21,873.123

So, the total future value is ...

  $6609.065 +21873.123 ≈ $28482.188 ≈ $28,482.19

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(c) The withdrawal amount can be found using the same formula used for loan payments:

  A = P(r/n)/(1 -(1 +r/n)^(-nt)) = $28482.19(.0055)/(1 -1.0055^-60) ≈ $558.62

Final answer:

The total amount deposited in the account was $17,400 including an initial investment of $3,000 and subsequent monthly payments of $100 for 12 years. The total amount withdrawn was equal to the final balance after the last deposit.

Explanation:

Let's tackle each question one by one:

1. You've mentioned that you have already figured out part (a) and (c), so let's move on to part (b).
2. (b) How much was deposited?The individual started with an initial deposit of $3,000. After that, they deposited $100 at the end of each month for 12 years. That's 12 years * 12 months/year * $100/month, for a total of $14,400. So, if you add the initial deposit, the total amount deposited over the whole period is $3,000 + $14,400 = $17,400.
3. (d) What is the total amount withdrawn?The total amount withdrawn is the same as the final balance of the account after the last deposit, as the question states the account balance will be zero after the withdrawals. Since you have already figured out part (a) which is the account balance after the last deposit, the total amount withdrawn corresponds to that sum.

Learn more about Compound Interest here:

brainly.com/question/34614903

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Given:

• There are two savings accounts - account A has $150 and account B has $300 to begin with.
• Malorie deposits $16 in account A and $12 in account B every month.

To Find:

The number of months where the balance of both is equal and the balance itself.

Solution:

In 37.5 months, the account balances in both accounts will be equal.

This balance will be equal to $750 in both account A and B.

Calculation:

Let x be the number of months where both the accounts have equal balance.

So, at the end of x months, 16x is the amount of money that will be added to account A (since $16 is added every month).

And the total amount at the end of x months will therefore be $(150+16x)

Similarly, at the end of x months, 12x is the amount of money that will be added to account B (since $12 will be added every month).

And the total amount at the end of x months will therefore be $(300+12x)

By our assumption, x is the number of months it will take for both the accont balances will be equal. Therefore, we have the equation

Therefore, in 37.5 months, the account balances in both accounts will be equal.

This balance will be equal to i.e. $750 will be the balance in both account A and B.

Answer:

7√ , 25√ , 42√

Answer:

Rounding to the next dollar, the total amount of interest paid by Jake is $ 923.00

Step-by-step explanation:

1. Let's review the information given to us to answer the question  correctly:

Gaming system and equipment cost = $ 2,200

Annual interest rate = 28%

Monthly payment = $ 100

2. What is the total amount of interest based on the APR?

Using Excel, we calculated the total number of months to pay the gaming system and the total interest, as you can read below.

Rounding to the next dollar, the total amount of interest paid by Jake is $ 923.00

Answer: $922

Step-by-step explanation:

I just did it and got it right. make sure to put $ or you will get it wrong