Saturday

December 20, 2014

December 20, 2014

Posted by **Doran** on Tuesday, November 15, 2011 at 9:02pm.

$413.01

$7032.70

$319.14

$375.46

- math 140 -
**Steve**, Wednesday, November 16, 2011 at 12:48amno. of months in 17 years = 204

monthly interest rate = annual rate/12 = 0.44%

So, now just plug in your handy dandy interest formula:

123875 = P*(1.00416666)^204

and solve for P

- math 140 -
**tchrwill**, Wednesday, November 16, 2011 at 11:16amThis is an ordinary annuity where R dollars is deposited in a bank at the end of each month and earning interest compounded monthly.

S(n) = R[(1+i)^n - 1]/i

where R = the monthly deposit, S(n) = the ultimate accumulation, n = the number of periods the deposits are made and i = the decimal interest paid each period.

Therefore, with

S(n) = $123,875

N = 17(12) = 204 and

i = 5.3/(100)12 = .0044166

R = $375.46

- math 140 -
**Anonymous**, Wednesday, August 29, 2012 at 5:01pmfind the sum: 1+2+3+...+40

- math 140 -
**Anonymous**, Wednesday, August 29, 2012 at 5:03pmfind the sum: 1+2+3+...+450

**Answer this Question**

**Related Questions**

math - you intend to create a college fund for your baby. if you get an interest...

maths - An estate agency purchases a machine for R85000 and realize they will ...

calculus - The proprietor of Carson Hardware Store has decided to set up a ...

Math - A deposit of $10,000 is made in a trust fund that pays 4.9% interest, ...

math - 4. You have $55000 to invest, and two funds you would like to invest in. ...

math - 1. You have $55000 to invest, and two funds you would like to invest in. ...

math - 1. You have $55000 to invest, and two funds you would like to invest in. ...

Math - The management of Gibraltar Brokerage Services anticipates a capital ...

math - The management of Gibraltar Brokerage Services anticipates a capital ...

Math - A company contributes $170 per month into a retirement fund paying 4.20% ...