3. Sam has purchased a $30,000 car for his business. The car depreciates 30% every year. Depreciation means the value of the car goes down by that percent each year. What will be the value of the car after the 5th year? Note: The car is 0 years old when purchased so the first year is the second entry in the sequence.

Q: 1-year after a car is sold an owner finds it is worth 60% of the original price. If it is now worth…

A: 1-year after a car is sold an owner finds it is worth 60% of the original price. If it is now worth…

Q: If you have been hired at an annual salary of $23000 and expect to recieve annual increases of 5%.…

A: Solution

Q: You think you need $1.5 million and your retirement advisor thinks you will average 6% a year on…

A: NOTE: Refresh your page if you can't see any equations. . here we have FV=1.5million=1500000 n=1 for…

Q: In a 7 years, you want to have $3,120 worth of remodeling done to your house bathroom. How much…

A:

Q: (a) Find the amount in the account at the end of 1 year. $0 (b) Find the amount in the account at…

A:

Q: $102 is invested in an annuity at the end of every month at 8.5%.  Find the value of the annuity at…

A:

Q: Labors wants to buy a boat five years from today. She will need $40,000. Lanita wants you to…

A: Step 1: Given Value for Calculation Compound = Semiannually = 2Time = t = 5 * 2 = 10Future Value =…

Q: Bob has $45 deducted from his paycheck at the end of each month and put into a savings…

A:

Q: Mary deposits $9,000 in a bank account that guarantees a simple interest rate of 7.5% per year. How…

A:

Q: Suppose you spent $800 on clothing in the past six months. Suppose you save this same 20% each year…

A: Given that, The total cost of clothing is $800. Now, saving 20% of $800 in a year is, 20100×800=$160

Q: At age 18, someone sets up an IRA (individual retirement account) with an APR of 8%. At the end of…

A: Deposit at the end of each month

Q: 2. You purchase a CD for $1000 on which you will earn 2.4% simple interest for each year of the…

A:

Q: Suppose you want to buy a new car that costs ​$32, 900. You have no cash only your old​ car, which…

A: A new car costs $32, 900. You have no cash only your old​ car, which is worth $3000 as a​ trade-in.…

Q: Consider an investment of $1,500 for four years at 3.75% simple interest. a. Find the amount of…

A:

Q: Sam deposits $400 at the end of every 6 months in an account that pays 7%, compounded semiannually.…

A: ANSWER :

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

A:

Q: A bond was purchased on January 1, 2016 for $750. If its value increases by 8.2 % every year, how…

A:

Q: 2. Simone bought her house for $150,000 in 2000 and sold it for $725,000 in 2020. What are the total…

A:

Q: You got an awesome job at Starbucks! You will work there FOREVER! You are promised $900 the first…

A:

Q: Calculate the amount of SIMPLE interest earned on an investment of $1000 at 4% for 6 years

A:

Q: You deposit $800 every six months into an account that pays 7% p.a interest compounded…

A: Given query is to find the amount of interest earned in 30 years.

Q: Sophie graduates from college and gets a job and rents an apartment.  She knows that eventually she…

A: Annual interest rate = 6% Monthly interest rate = 6/12 = 0.5% Time period = 5 years Saving per month…

Sequence and Series

A sequence is defined as a collection of things. Series is defined to sum the things one by one in the sequence.  It was invented by German mathematician Carl Friedrich Gauss.