MathMaster logo

MathMaster

  1. Home
  2. general
  3. calculate the initial amount that ms hortensia must deposit in a bank account if at the end of the 4 year term she wants t
Question

Calculate the initial amount that Ms. Hortensia must deposit in a bank account, if at the end of the 4-year term she wants to receive $450,000 Pesos, if the savings give her a rate of return of 10.20% with monthly capitalization:

95

likes
475 views

Answer to a math question Calculate the initial amount that Ms. Hortensia must deposit in a bank account, if at the end of the 4-year term she wants to receive $450,000 Pesos, if the savings give her a rate of return of 10.20% with monthly capitalization:

Expert avatar
Nash
4.9
87 Answers
FV = PV (1 + r/n)^{nt}

1. Substitute the given values into the formula:

450,000 = PV (1 + 0.102/12)^{12 \cdot 4}

2. Calculate the monthly interest rate:

0.102/12 = 0.0085

3. Calculate the number of compounding periods:

12 \cdot 4 = 48

4. Plug these values into the equation:

450,000 = PV (1 + 0.0085)^{48}

5.

PV\approx299,756.90\text{Pesos}

Frequently asked questions (FAQs)
How many ways can we arrange 5 books on a shelf?
+
What is the simplified form of
+
What are the characteristics of the ellipse function with equation x^2/16 + y^2/9 = 1? Explain the major and minor axes, center, vertices, co-vertices, and foci.
+
New questions in Mathematics
How do you think the company has increased or decreased its income?
a bank finds that the balances in its savings accounts are normally distributed with a mean of $500 and a standard deviation off of $40. What is the probability that a randomly selected account has a balance of more than $400?
[(36,000,000)(0.000003)^2]divided(0.00000006)
30. In 8 s, a car that starts from rest and moves with uniformly accelerated motion has achieved a speed of 72m/s. How much space must it travel to reach a speed of 90m/s? Sunshine: 450 m
A company that manufactures personal hygiene items purchases machinery for $220,000 that is considered to last 7 years; it is estimated that at the end of the period it will have a salvage value of $1000. Find: to. The depreciation rate. b. The book value at the end of the sixth year.
I need to know what 20% or £3292.75
The thermal representation f(x) = 20 times 0.8 to the power of x is known from an exponential function f. Specify the intersection point with the y-axis
Three squares have a total area of 35.25 𝑐𝑚2 . The larger square has twice the side-length of the middle-sized square. The smaller square has its side length exactly 0.5 cm smaller than the middle-sixed square. Find the side lengths of each of the three squares.
form a key for your lock containing the numbers 2 2 5 8 How many different keys can you form?
Calculate the minimum size of a simple random sample assuming a sampling error of 5% assuming that the population size is 100 elements
factor the polynomial completely over the set of complex numbers b(x)=x^4-2x^3-17x^2+4x+30
94 divided by 8.75
2x-5-x+2=5x-11
00 piece jigsaw puzzle. the completed puzzle is 10x10. each piech connects to at least 2 other pieces. i plan to assemble by taking pieces out of box one by one. if i've already taken out 2 pieces that dont directly connect, what is the minimum number of additional pieces that i need to draw to in order to guarentee that the original 2 pieces connect?
Find I (Intrest) using simple interest formula of 17700 @ 15% for 4 years
0<x<2π aralığındaki f(x)=x÷2 fonksiyonunun 0 < x < 4π için grafiğini çiziniz ve 0<x<2n için Fourier seri dönüşümünü gerçekleştiriniz.
a coffee shop has 9 types of creamer and 11 types of sweetener. In how any ways can a person make their coffee?
the length of the fenced in area is to be 5 ft greater than the width and the total amount of fencing to be used is 89 ft find the width and length
A small box measures 10 in. by 4 in. by 6 in. high. Find the volume of the box.
To apply a diagnostic test, in how many ways can 14 students be chosen out of 25? if the order does not matter

You might be interested in