Question

A person decides to invest money in fixed income securities to redeem it at the end of 3 years. In this way, you make monthly deposits of R$300.00 in the 1st year, R$400.00 in the 2nd year and R$500.00 in the 3rd year. Calculate the amount, knowing that compound interest is 0.6% per month for the entire period. The answer is 15,828.60

119

likes
593 views

Answer to a math question A person decides to invest money in fixed income securities to redeem it at the end of 3 years. In this way, you make monthly deposits of R$300.00 in the 1st year, R$400.00 in the 2nd year and R$500.00 in the 3rd year. Calculate the amount, knowing that compound interest is 0.6% per month for the entire period. The answer is 15,828.60

Expert avatar
Hester
4.8
116 Answers
Since the person decides to deposit 300 only for the first 12 months. then increased to 400 on the second year. and another 100 increase from 400 to 500 on the 3rd year then we can arrive to the following formula: FV=300\left(\frac{\left(1+0.006\right)^{12\left(3\right)}-1}{0.006}\right)+100\left(\frac{\left(1+0.006\right)^{12\cdot2}-1}{0.006}\right)+100\left(\frac{\left(1+0.006\right)^{12}-1}{0.006}\right) the total Future value is = 15828.60

Frequently asked questions (FAQs)
What is the median of a set with an odd number of values, if the mean and mode are both equal to 7?
+
Math question: Solve the inequality 3x + 5 ≀ 17 for x.
+
Math question: What is the vertex of the quadratic function f(x) = -2x^2 + 4x - 5?
+
New questions in Mathematics
Let f(x)=||x|βˆ’6|+|15βˆ’|x|| . Then f(6)+f(15) is equal to:
Solution of the equation y'' - y' -6y = 0
Simplify the expression sinΒ³(x)+cosΒ³(x), using trigonometric functions
Karina has a plot of 5000 square meters in which she has decided that 60% of it will be used to plant vegetables. Of this part, 12% will be dedicated to planting lettuce. How much surface area of the plot will be used to grow lettuce?
what is 3% of 105?
5) A family with a father, mother and 3 children must sit on five chairs in a row and the only restriction is that the mother must be at one end. In how many different ways can they be seated?
The length and breadth of my rectangular vegetable garden is 12,5m and 7,25m respectively. What is the perimeter of the garden?
The mean temperature for july in H-town 73 degrees fahrenheit. Assuming that the distribution of temperature is normal what would the standart deviation have to be if 5% of the days in july have a temperature of at least 87 degrees?
Subscribers to the FAME magazine revealed the following preferences for three categories: Fashion 30, Athletics 24 and Business 15. Following these frequencies of observation, compute the chi-square test statistic. At the 0.05 level of significance, would you conclude they are similar?
4x + 8y = 5 2x + 4y = 10
Log5 625
sin 30
reduce the expression (7.5x 12)Γ·0.3
P(Z<z)=0.1003
A teacher has 25 red and yellow counters altogether. She has 4 times as many red counters than yellow counters. How many yellow counters does the teacher have?
List five numbers that belong to the 5 (mod 6) numbers. Alternate phrasing, list five numbers that satisfy equation x = 5 (mod 6)
effectiveness of fiscal and monetary policy under closed and open economies
Solve the following system of equations using substitution. y=-4x- 11. 3x+7y=-2
Find the symmetric point to a point P = (2,-7,10) with respect to a plane containing a point Po = (3, 2, 2) and perpendicular to a vector u = [1, -3, 2].
An invoice for €2,880 plus default interest of €48.40 was paid on October 28th. Interest rate 5.5%. When was the bill due?