Homework Help: Math

Posted by Anonymous on Monday, November 14, 2011 at 12:43pm.

Raising Maine magazine's August 5,2009, Home GREEN Home" article about going green discusses ways to improve a home's energy efficiency while keeping conservation in mind. From an efficient floor plan, to a house plan maximizing sunlight, triple-pane glass windows, radiant floor heating, and the use of recycled materials, the goal is to reduce the amount of fossil fuels consumed. Jim and Sonja Tanner were inspired by the article and are beginning the planning process for updating their home to reduce its environmental footprint. They received an initial quote of $23,500. What payment must they make at the end of each quarter at 8 % compounded quarterly for five years to reach their goal of $23,500?

Math - Reiny, Monday, November 14, 2011 at 1:52pm
solve for P , the payment

P(1.02^20 - 1)/.02 = 23500

(I got P =967.18 )

Answer this Question

Related Questions

English - I urgently need you to check the following sentences. Thank you,...
English Grammar - When we talk about staying somewhere, we use the preposition &...
English - Native speakers - Hello! I am trying to figure out one of the most ...
math - Alfonso knows that the distance across the field from his home to Carla&#...
math - To purchase your first home, you may be required to borrow funds from a ...
science - advanteges and disadvanteges of fossil fuels Check this site. http://...
english - 16. How could you combine the following two sentences into one ...
home inspection - Which of the following is the main purpose of home inspection ...
home inspection - which of the following statements is true? A.most home ...
home economics - name four areas of study of home enonomics Cooking, Sewing, ...

For Further Reading

First Name:
School Subject:
Answer: