Question

I really need help with these questions. I do not understand anything.

Answer 1

@love10129151 I got the questions here if you still want to help me

Answer 2

yes ill help

Answer 3

So, you have to add up this?

PV = 3000 + 3000v + 3000v^2 + 3000v^3 + 3000v^4 + 3000v^5

Where \(v = \dfrac{1}{1+\dfrac{0.12}{2}}\)

That's six semi-annual payments, each for $3,000.00
That's semi-annual compounding of 12% APR

Add them up using your best Geometric Series techniques.

Without the interest, that's 6*3000 = 18000, so it had better be less than that with the interest discounting.

Or do we need an accumulated value?

AV = 3000r + 3000r^2 + 3000r^3 + 3000r^4 + 3000r^5 + 3000r^6

As before, except \(r = 1 + \dfrac{.12}{2}\)

This, of course, must be greater than $18,000, or something went wrong.

Answer 4

I don't understand any of that,

Answer 5

It's a geometric series. That is all that is required. Have you ever seen one?

Answer 6

no

Answer 7

Have you had algebra? You'll need that.

Well, then you MUST have a collection of formulas or we can walk through it 6 months at a time. What about those formulas?

Answer 8

I don't really remember much of Alegbra

Answer 9

It's time to review. Please pursue it. No page full of formulas?

Answer 10

there are no pages.

Answer 11

Your ONLY remaining alternative it to wade through it one period at at time.

i = 0.12
i/2 = 0.06 <== Adjusting for semi-annual.

Deposit #1: 3,000
Interest to next deposit: 3,000 * 0.06 = 180
Total before 2nd deposit: 3000 + 180 = 3180

Deposit #2: 3,000
Plus what we already had: 3000 + 3180 = 6180
Interest to next deposit: 6180 * 0.06 = 370.80
Total before 2nd deposit: 6180 + 370.80 = 6550.80

And so on, up to one period AFTER the sixth deposit.

Sorry, I'm not seeing any options. Why are you in this course? Was there a placement exam? Is it your last math requirement before you take classes you want to take? Sometimes, the rules put you in a tough spot.

Answer 12

i'm in my senior year and this is my last class.

Answer 13

Well, you'll have to wade through that arithmetic. How about a spreadsheet? Any experience with those?

Answer 14

i'm just going to ask my teacher what to do. i'm not understanding anything,

Answer 15

Yes, please do. Have a very good chat with your academic advisor. This class is going to be a VERY ROUGH go with no algebra. I do wish you the best. Hang in there!