$MathMaster logo$

MathMaster

Home
general
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:

$Expert avatar$

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)

What is the median of a set of 7 numbers when the largest value is 25, the smallest value is 8, and all other numbers form a continuous sequence?

+

Math question: "Graph the exponential function f(x) = 2^x and find its y-intercept and asymptote.

+

What is the equation of the logarithmic function with base 2 that has a vertical asymptote at x = -3 and passes through the point (-1, 5)?

+

New questions in Mathematics

If O(3,-2) is reflected across x = 2. What are the coordinates of O

Determine the equations of the recipes that pass through the following pairs of points P1 (2;-1) and p2 (4;-1)

[(36,000,000)(0.000003)^2]divided(0.00000006)

The data set (75, 85, 58, 72, 70, 75) is a random sample from the normal distribution No(µ, σ). Determine a 95% two-sided confidence interval for the mean µ .

prove that if n odd integer then n^2+5 is even

-3(-4x+5)=-6(7x-8)+9-10x

. What will be the osmotic pressure of a solution that was prepared at 91°F by dissolving 534 grams of aluminum hydroxide in enough water to generate 2.784 ml of solution.

Quadratic equation 2X = 15/X + 7

(X+2)(x+3)=4x+18

Determine the Linear function whose graph passes through the points (6, -2) and has slope 3.

A buyer purchased a North Carolina home for $475,250. The seller allowed the buyer to assume his first small mortgage with a loan balance of $110,000. How much is the excise tax paid in the transaction? $951 $729.50 $950.50 $221 none of the above

a) Statistics scores are normally distributed with the mean of 75 and standard deviation of 7. What is the probability that a student scores between 80 and 88

The average undergraduate cost per tuition, fees, room, and board for all institutions last year was $26,025. A random sample of 40 institutions of higher learning this year indicated that the mean tuition, fees, room, and board for the sample was $27,690, and the population standard deviation is $5492. At the 0.05 level of significance, is there sufficient evidence that the cost has increased? (Remember to follow the steps in hypothesis testing)

8/9 divided by 10/6

How many moles are there in 235 grams of potassium thiosulfate pentahydrate? K2S2O3*5(H2O)

A person travels by car from one city to another with different constant speeds between pairs of cities. She drives for 55.0 min at 100.0 km/h, 14.0 min at 65.0 km/h, and 45.0 min at 60.0 km/h and spends 20.0 min eating lunch and buying gas. (a) Determine the average speed for the trip.

f(r) = 1/r+9 find f(x^2) + 1