Question

You plan to complete a postgraduate degree within 4 years until you finish high school, and you want to make a savings fund of ¢4,000,000.00 to cover the value of this, a financial institution offers you an interest rate of J (12) = 12% , it is requested: Calculate the amount you will have to deposit monthly to achieve the goal

167

likes

833 views

Answer to a math question You plan to complete a postgraduate degree within 4 years until you finish high school, and you want to make a savings fund of ¢4,000,000.00 to cover the value of this, a financial institution offers you an interest rate of J (12) = 12% , it is requested: Calculate the amount you will have to deposit monthly to achieve the goal

$Expert avatar$

Clarabelle

4.7

94 Answers

1. Determine the monthly interest rate:

i = \frac{12\%}{12} = 0.01

2. Determine the number of periods (4 years x 12 months):

n = 4 \times 12 = 48

3. Apply the formula for the future value of an ordinary annuity to find the monthly payment ($PMT$):

PMT = \frac{FV \cdot i}{(1 + i)^n - 1}

4. Substitute the known values into the formula:

PMT = \frac{4000000 \cdot 0.01}{(1 + 0.01)^{48} - 1}

5. Calculate the expression:

PMT \approx 71539.67

Frequently asked questions (FAQs)

What's the probability of rolling a fair six-sided die and getting an odd number?

Question: What is the integral of f(x) = 2x^3 - 4x^2 + 5x - 3 with respect to x?

Question: What is the maximum value that can be obtained by continuously differentiating a polynomial function of degree n, where n > 0, over a closed interval [a, b]?

New questions in Mathematics

Let f(x)=||x|−6|+|15−|x|| . Then f(6)+f(15) is equal to:

11(4x-9)= -319

224 × (6÷8)

To make brine, José buys 1 kg of salt and pays 12 pesos. If he buys 4 kg, they charge him 48 pesos, but for 100 pesos they sell him 9 kg. What is the constant of proportionality?

Analyze the following situation Juan is starting a new business, he indicates that the price of his product corresponds to p=6000−4x , where x represent the number of tons produced and sold and p It is given in dollars. According to the previous information, what is the maximum income that Juan can obtain with his new product?

Find the derivatives for y=X+1/X-1

The average number of babies born at a hospital is 6 per hour. What is the probability that three babies are born during a particular 1 hour period?

Two minus log 3X equals log (X over 12)

Show work on 4108 divided by 4

The business college computing center wants to determine the proportion of business students who have personal computers (PC's) at home. If the proportion is greater than 35%, then the lab will modify a proposed enlargement of its facilities. Suppose a hypothesis test is conducted and the test statistic is z= 2.6. Find the P-value for this test.

What is the value of f(-3) for the function X squared+5x-8=

The annual real property tax liability for a residential property is $4302 and has been paid by the seller in advance of closing. Using the 30-day month/260-day year method what will be the tax proration entry on the settlement statement round to the nearest dollar for a closing on Oct. 26 if the buyer owns the day of closing? a. $3525 credit to the buyer and $777 debit to the seller b. $777 debit to the buyer and $3525 debit to the seller c. $777 credit to the buyer and $777 debit to the seller d. $3525 debit to the buyer and $3525 credit to the seller *Can anyone help with this? I am studying for my real estate exam and am having trouble with some of the calculations :)

Gender and communication : Answer the question ( 1 paragraph is ok) . Please can you write about women? Compared to your other identities, how much of a role does gender play in your life? And has your own sex/gender offered you privileges or disadvantages? How so?

0<x<2π aralığındaki f(x)=x÷2 fonksiyonunun 0 < x < 4π için grafiğini çiziniz ve 0<x<2n için Fourier seri dönüşümünü gerçekleştiriniz.

-6 - t / 4 = -1

How many digits are there in Hindu-Arabic form of numeral 26 × 1011

Carmen's age was twice as old as Luis was when Carmen was Luis's age. When Luis is Carmen's age, their ages will add up to 112.

Find the orthogonal projection of a point A = (1, 2, -1) onto a line passing through the points Pi = (0, 1, 1) and P2 = (1, 2, 3).

Exercise The temperature T in degrees Celsius of a chemical reaction is given as a function of time t, expressed in minutes, by the function defined on ¿ by: T (t )=(20 t +10)e−0.5t. 1) What is the initial temperature? 2) Show that T' (t )=(−10 t +15)e−0 .5t. 3) Study the sign of T' (t ), then draw up the table of variations of T . We do not ask for the limit of T in +∞. 4) What is the maximum temperature reached by the reaction chemical. We will give an approximate value to within 10−2. 5) After how long does the temperature T go back down to its initial value? We will give an approximate value of this time in minutes and seconds. DM 2: study of a function Exercise The temperature T in degrees Celsius of a chemical reaction is given as a function of time t, expressed in minutes, by the function defined on ¿ by: T (t )=(20 t +10)e−0.5t. 1) What is the initial temperature? 2) Show that T' (t )=(−10 t +15)e−0.5 t. 3) Study the sign of T' (t ), then draw up the table of variations of T . We do not ask for the limit of T in +∞. 4) What is the maximum temperature reached by the reaction chemical. We will give an approximate value to within 10−2. 5) After how long does the temperature T go back down to its initial value? We will give an approximate value of this time in minutes and seconds.

Find the rule that connects the first number to the second number of each pair. Apply the rule to find the missing number in the third pair. (18 is to 22) (54 is to 26) (9 is to ?)

You might be interested in