Identify which of the following formulas applies to the future value of a series of payments, with interest compounded when the payments are made O 1 = Prt OS=R (1+1)" - 1] O A = R 1 - (1 + 1)- O S = Pert O S = P ( 1 + 1)" Need Help? Read It 12. [-/1 Points] DETAILS HARMATHAP12 6.R.049. 0/100 Submissions Used MY NOTES ASK YOUR TEACHER If an initial investment of $2,900 grows to $34,000 in 18 years, what annual interest rate (as a %) compounded annually did this investment earn? (Round your answer to two decimal places.) % Need Help? Read It 13. [-/1 Points] DETAILS HARMATHAP12 6.R.055. 0/100 Submissions Used MY NOTES ASK YOUR TEACHER A couple believes they can afford a monthly house payment of $1,700 and would like a 30-year fixed-rate loan. Currently, the rate for such a loan is 4.2% compounded monthly. To the nearest dollar, how much can the couple afford to borrow? $ Need Help? Read It 14. [-/1 Points] DETAILS HARMATHAP12 6.R.061. 0/100 Submissions Used MY NOTES ASK YOUR TEACHER A divorce settlement of $60,000 is paid in $1,000 payments at the end of each of 60 months. What is the present value of this settlement if money is worth 12% compounded monthly (in $)? (Round your answer to the nearest cent.) $ Need Help? Read it 15. [-/1 Points] DETAILS HARMATHAP12 6.R.065. 0/100 Submissions Used MY NOTES ASK YOUR TEACHER Three years from now, a couple plans to spend 4 months traveling in China, Japan, and Southeast Asia. When they take their trip, they would like to withdraw $11,000 at the beginning of each month to cover their expenses for that month. Starting now, how much must they deposit at the beginning of each month for the next 3 years so that the account will provide the money they want while they are traveling (in $)? Assume that such an account pays 7.8% compounded monthly. (Round your answer to the nearest cent.) Need Help? Read It5. [0.83/1 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 1.WU.004. MY NOTES ASK YOUR TEACHER Identify the coefficient of x and the constant term for the following. (a) -2x + 4 coefficient -2 constant 4 (b ) X 3 coefficient 1/3 constant 3 (c) x - 500 coefficient 1 constant -500 Need Help? Read It Viewing Saved Work Revert to Last Response