$MathMaster logo$

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 3π/2 radians in degrees?

+

What is the factored form of 4x^2 - 9 using the distributive property?

+

What is the length of the hypotenuse in a right triangle with an angle of 35 degrees and an adjacent side of 7 meters?

+

New questions in Mathematics

Add. 7/w²+18w+81 + 1/w²-81

a ferry travels 1/6 of the distance between two ports in 3/7 hour. The ferry travels at a constant rate. At this rate, what fraction of the distance between the two ports can the ferry travel in one hour.

Revenue Maximization: A company sells products at a price of $50 per unit. The demand function is p = 100 - q, where p is the price and q is the quantity sold. How many units should they sell to maximize revenue?

Write 32/25 as a percent

A car that starts from rest moves for 11 min, reaching a speed of 135 km/h, calculate the acceleration it had

Use the elimination to find the solution to each linear system. X+y=43 2x-y=20

what is the annual rate on $525 at 0.046% per day for 3 months?

"If three wolves catch three rabbits in three hours, how many wolves would it take to catch a hundred rabbits in a hundred hours?" The answer is the number of response units.

(2b) to the 1/4th power. Write the expression in radical form.

v Is the following statement a biconditional? If Shannon is watching a Tigers game, then it is on television.

Solve : 15/16 divide 12/8 =x/y

show step by step simplification: (¬𝑑∨((¬b∧c)∨(b∧¬c)))∧((𝑎 ∧ 𝑏) ∨ (¬𝑎 ∧ ¬𝑏))∧(¬𝑐∨((¬𝑑∧𝑎)∨(𝑑∧¬𝑎)))

How many square feet of floor area are there in three two-storey apartment houses, each of which is 38 feet wide and 76 feet long?

Given (3x+2)E [2;14] how much money (in soles) does Sophia have if numerically it is the greatest value of x?

A machine produces 255 bolts in 24 minutes. At the same rate, how many bolts would be produced in 40 minutes?

9 x² + 2x + 1 = 0

The mass of 120 molecules of X2C4 is 9127.2 amu. Identify the unknown atom, X, by finding the atomic mass. The atomic mass of C is 12.01 amu/atom

The area bounded by the curve y=ln(x) and the lines x=1 and x=4 above the x−axis is

The following incoming payments show up at a tax inspection: 25 000€ on 19.01.2008, 140 000€ on 27.03.2008 and 19 000€ on a date that which is illegible, and 60 000€ on 15.06.2008. On which date did the payment of the 19 000€ appear, if on 30.06.2008 the money on the account (incl. interest at 4%) is 246 088.89€? Use simple interest and 30E/360 DCC. Solution: 45 days, 15.05.08

The slope of the tangent line to the curve f(x)=4tan x at the point (π/4,4)