Based on the information, Christian would have $5525.5 of an annuity.
<h3>How to calculate the annuity?</h3>
According to the given information, the number of coffees per week is 3 then, per month is 3x4 = 12
Each coffee is $4.5. Then monthly expenditure for coffees is 12 x 4.5 = $54
Rate of interest r = 1.6% = 1.6/100 = 0.016 and for monthly compounding r = 0.016/12 = 0.00133
n = number of payments = 8 x 12 = 96
We can use the formula for finding the future value as below
FV = C x [ ( 1 + r )n-1 ] / ( r )
FV = 54 x [ ( 1 + 0.00133 )96 – 1 ] / (0.00133)
= 54 x [ (1.13609 - 1)] / (0.00133)
= 54 x 0.13609 / (0.00133)
= 54 x 102.3233
= 5525.5
Therefore Christian would have $5525.5 of the annuity.
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62 divided by 0.25 is 248
Answer:
7.8(tan 67)
Step-by-step explanation:
7.8(tan 67)
= 18.4 (2 decimal place)
The range is 6. because the highest number is 21 and the lowest is 15.
(21-15=6). hope i helped !
Answer:
If the 1.4% rate of interest is the weekly rate of interest, Then, total first week interest = 1.4(d - w)/100 = 0.014(d - w)
But if the 1.4% rate of interest is a yearly rate of interest compounded weekly, then her total first week interest = 7(d - w)/2600 = 0.00269 (d - w)
Step-by-step explanation:
The interest, I = PRT
P = initial amount of dollars in account = (deposit - withdrawal) = (d - w)
R = rate of interest = 1.4% = 0.014/week
T = time = 1 week
If the 1.4% rate of interest is the weekly rate of interest
I = PRT = (d - w) × 0.014 × 1 = 0.014(d - w)
But if the 1.4% rate of interest is a yearly rate if interest compounded weekly,
P = initial amount of dollars in account = (deposit - withdrawal) = (d - w)
R = rate of interest = 1.4% = 0.014/year
T = time = 1 week = (1/52) years
I = PRT = (d - w) × 0.014 × (1/52) = 7(d - w)/2600 = 0.00269 (d - w)
Hope this Helps!!!
