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:

Name: Solved: 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: - MathMaster
Brand: MathMaster
Rating: 4.9 (95 reviews)

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}

PV\approx299,756.90\text{Pesos}

Frequently asked questions (FAQs)

Math question: What is the value of log base 2 of (8 * 16) divided by log base 2 of (4 * 2)?Answer: The value of log base 2 of (8 * 16) divided by log base 2 of (4 * 2) is equal to 4.

Find the derivative of sin(2x^3)cos(4x^2) using the chain rule.

Question: For the parabola y = ax^2, if a = 2, find the value of x when y = 8.

New questions in Mathematics

a runner wants to build endurance by running 9 mph for 20 min. How far will the runner travel in that time period?

P is a polynomial defined by P(x) = 4x^3 - 11×^2 - 6x + 9. Two factors are (x - 3) and (x + 1). Rewrite the expression for P as the product of linear factors.

Consider numbers from 1 to 2023. We delete 3 consecutive numbers so, that the avarage of the left numbers is a whole number

Solve the math problem 400 students are asked if they live in an apartment and have a pet: Apartment: 120 Both: 30 Pet: 90 The probability that a randomly selected student not living in an apartment has a pet is

Suppose the horses in a large stable, have a mean weight of a 807 pounds and a variance of 5776. What is the probability that the mean weight of the sample of horses with differ from the population mean by greater than 18 pounds is 41 horses are sampled at random from the stable round your answer to four decimal places.

-27=-7u 5(u-3)

You mix a powder drug with a 4.5ml of liquid to get a reconstituted solution with a concentration of 250mg/ml. The prescribers order is for 500 mg . You will give what ml of the reconstituted solution

Find all real numbers x that satisfy the equation \sqrt{x^2-2}=\sqrt{3-x}

Let A, B, C and D be sets such that | A| = |C| and |B| = |D|. Prove that |A × B| = |C × D|