Peggy mays deposits $100 in an ordinary annuity at the end of each month in an account earning 6 percent interest compounded monthly. what is the future value of the account after 6 months

$610.5

Step-by-step explanation:

Peggy deposits $ 100 each month in an account which gives 6% annual interest compounded after each month.

We have to calculate the future value of the account after 6 months.

Therefore, the first month's $100 will be compounded for 6 months at an interest rate of 0.5 % per month.

Again, the second month's $100 will be compounded for 5 months at an interest rate of 0.5 % per month and so on.

Hence, the final amount in the account will be  

= 100 × 1.03 + 100 × 1.025 + 100 × 1.02 + 100 × 1.015 + 100 × 1.01 + 100 × 1.005

= $610.5 (Answer)

The approximate solution is

(4,-1)

Step-by-step explanation:

The point of intersection of the two lines is the solution of the linear systems represented by the graph.

From the graph we can determine that each box is 2 units.

From the graph, when we start at O and count two boxes to the right and half box down, we obtain the point of intersection of the two lines to be

Note that since each box is two units, half way between the boxes gives one unit.