The future value of a monthly deposit A=125.30 at annual interest i=0.015 per annum for n=35 years compounded monthly is given by
FV=A((1+i/12)^(12*n)-1)/(i/12)
=125.30(1+0.015/12)^(12*35)/(0.015/12)
=$69156.05
The annuity formula is given by
Payment = r(PV)/(1-(1+r)^(-n))
where
r=interest rate per period = 0.015/12
PV= $69156.05
n=20*12=240
so
Payment = (0.015/12)<span>69156.05/(1-(1+0.015/12)^(-240))
= $333.71 per month.</span>
Answer:
i will answer but what do you trying to find ?
Answer: -8 1/2 I think
Step-by-step explanation:
First you make -8 1/3 a improper fraction
than you find common denominators
and you keep the sign of the biggest number
simplify if possible
She can paint almost 7 statues - 6.86 statues.
7/8 ÷ 1/6
21/24 ÷ 4/24
21/24 * 24/4 = 576/84
576 / 84 is approximately 6.86.
