Explanation Given: Average monthly cell phone bill, PMT = $ 70 Annual percentage rate, APR = 4 % Formula used: The annual saving is calculated by the formula A = PMT × [ ( 1 + APR n ) n Y − 1 ] ( APR n ) Here, A is accumulated saving plan balance PMT is regular payment rate APR is annual percentage rate n is number of payment period per year Y is number of years Calculation: The women started saving when she was 20 years old, and she continues saving upto the age of 65 years. The number of years she continues saving is Y = 65 − 20 = 45 years She monthly saves $ 70 therefore number of payment periods per year is n = 12

Using & Understanding Mathematics: A Quantitative Reasoning Approach (7th Edition)

7th Edition

ISBN: 9780134705187

Author: Jeffrey O. Bennett, William L. Briggs

Publisher: PEARSON

See similar textbooks

Concept explainers

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 …

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experime…

Videos

Question

Chapter 4.C, Problem 68E

To determine

Money saved by the student by giving up the usage of mobile phone

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 4.C, Problem 67E

Chapter 4.C, Problem 69E

Students have asked these similar questions

A marketing professor has surveyed the students at her university to better understand attitudes towards PPT usage for higher education. To be able to make inferences to the entire student body, the sample drawn needs to represent the university’s student population on all key characteristics. The table below shows the five key student demographic variables. The professor found the breakdown of the overall student body in the university’s fact book posted online. A non-parametric chi-square test was used to test the sample demographics against the population percentages shown in the table above. Review the output for the five chi-square tests on the following pages and answer the five questions: Based on the chi-square test, which sample variables adequately represent the university’s student population and which ones do not? Support your answer by providing the p-value of the chi-square test and explaining what it means. Using the results from Question 1, make recommendation for…

Question 9 1 5 4 3 2 1 -8 -7 -05 -4 -3 -2 1 1 2 3 4 5 6 7 8 -1 7 -2 -3 -4 -5+ 1-6+ For the graph above, find the function of the form -tan(bx) + c f(x) =

Question 8 5 4 3 2 1 -8 -7 -6 -5/-4 -3 -2 -1, 1 2 3 4 5 6 7/8 -1 -2 -3 -4 -5 0/1 pt 3 98 C -6 For the graph above, find the function of the form f(x)=a tan(bx) where a=-1 or +1 only f(x) = = Question Help: Video Submit Question Jump to Answer

Chapter 4 Solutions

Using & Understanding Mathematics: A Quantitative Reasoning Approach (7th Edition)

Ch. 4.A - By evaluating your monthly budget, you can learn...Ch. 4.A - The two things you must keep track of in order to...Ch. 4.A - A negative monthly cash flow means that Your...Ch. 4.A - When you are making your monthly budget, what...Ch. 4.A - For the average person, the single biggest...Ch. 4.A - According to Figure 4.1, which of the following...Ch. 4.A - Which of the following in necessary if you want to...Ch. 4.A - Sandy’s automobile insurance policy has an annual...Ch. 4.A - Suppose you have a health insurance policy with an...Ch. 4.A - Thomas receives a bill for $2700 for an...

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.