The amount she should invest today in the annuity is $455,450.40.
<h3>How much should be invested today?</h3>
The first step is to determine the future value of the monthly annuity.
Future value = monthly payment x annuity factor
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- r = interest rate = 3.6/12 = 0.3%
- n = number of periods : 15 x 12 = 180
Future value : 3250 x [(1.003^180) - 1] / 0.003 = 774,171.92
The second step is to determine the present value of this future annuity:
774, 171.92 / (1.036^15) = $455,450.40
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Answer:
Step-by-step explanation:
I don’t know why they bother teaching recursive formulas as the explicit is almost always used :)
For 2,9,16,23...
Recursive is a(n+1)=an+7
Explicit is an=2+7(n-1)
(or more neatly an=7n-5)
For 2,14,98,686...
Recursive is a(n+1)=7an
Explicit is an=2(7^(n-1))
(or (2/7)7^n )
Answer:
A. Area = 5/9 sq.meters
Step-by-step explanation:
Area = (lenght × widht)

simplified

Hope this helps
Answer:
32% of his bats were stuck out.
Step-by-step explanation:
emerson struck out 112 times out of the total of 350 times. therefore, this can be represented as the fraction 112/350, which can be simplified to 8/25.