Marcus wants to purchase a home in six years. he will contribute $2500 each year to a savings account with 2.64% interest, compounded semiannually. what is the future value of this investment, when maurice needs to make a down payment?

$2926.05

Step-by-step explanation:

Compounded interest follows the formula:

P(1 + r/n)^nt where P = principle, or starting contribution, R = Rate (Percentages converted to decimals), N = number of compounds per year, and T = number of years.

The Principle would be $2500

The Rate would be 2.64% or 0.0264

N would be 2, since it is semiannual

T would be 6, since this lasts 6 years.

When we plug it in, we see

2500(1 + (.0264/2))^(2)(6)

= 2926.053

In a real situation in the bank, they would give you $2926.05

fabric (square meters)                   cloaks

7                                                           21

4/3                                                         4

step-by-step explanation:

we are told that harry needs 2 square meters of fabric for every 6 wizard cloaks he makes.

1. first of all we will find how many cloaks can be made from 1 square meter of fabric by dividing 6 by 2.

we can see that 3 cloaks can be made from 1 square meter of fabric. now we will multiply 3 by 7 to find number of cloaks made from 7 square meters of fabric.

therefore, harry will make 21 cloaks from 7 square meters of fabric.

2. let us find how many square meters of fabric will be needed to make 4 cloaks.

first of all we will find fabric needed for 1 cloak by dividing 2 by 6.

we can see that fabric needed for 1 cloak is   square meter. now we will multiply   by 4 to find fabric needed for 4 cloaks.