1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lunna [17]
1 year ago
9

Wynn is 24 years old and has decided to reduce the number of cups of coffee he buys by 2 cups per day. One cup of coffee typical

ly costs $2.50. Assuming 30 days in a month, if he chooses to invest this money at the end of every 6 months into an investment paying 5.50% compounded semi-annually, how much will he have when he turns 69?
Mathematics
1 answer:
Usimov [2.4K]1 year ago
5 0

The total amount he would have at 69 is $343,347.81.

<h3>What is the total amount saved?</h3>

The formula that can be used to determine the future value of the deferred annuity is:

Future value = annuity factor x monthly deposit

Annuity factor = {[(1+r)^n] - 1} / r

Where:

  • r = interest rate = 5.5 /2 = 2.75%
  • n = number of payments = 2 x (69 - 24) = 90

Amount he would save every 6 months:

  • amount saved per day = $2.50 x 2 = $5
  • Amount saved per month : $5 x 30 = $150
  • Amount saved every 6 months = $150 x 6 = $900

Future value : 900 x {[(1.0275^90) - 1] / 0.275}= $343,347.81

To learn more about annuities, please check: brainly.com/question/24108530

#SPJ1

You might be interested in
3ab (2ab + 2a -b )-2a (2ab -2b +a )
sp2606 [1]
<span> a • (6ab2 + 2ab - 2a - 3b2 + 4b) </span>

Step by step solution :<span>Step  1  : 
</span><span>Equation at the end of step  1  :</span> (3ab • (2ab + 2a - b)) - 2a • (2ab + a - 2b) <span>Step  2  :</span><span>Equation at the end of step  2  :</span> 3ab • (2ab + 2a - b) - 2a • (2ab + a - 2b) <span>Step  3  :</span><span>Step  4  :</span>Pulling out like terms :

<span> 4.1 </span>    Pull out like factors :

  <span> 6a2b2 + 2a2b - 2a2 - 3ab2 + 4ab</span>  = 

 <span> a • (6ab2 + 2ab - 2a - 3b2 + 4b)</span> 

Final result :<span> a • (6ab2 + 2ab - 2a - 3b2 + 4b)</span>
8 0
3 years ago
Write a polynomial with the zeros equaling to -1,1,8
Andreyy89

Answer:x³-8x²-x+8

Step-by-step explanation:

x are equal to -1,1,8 respectively

to form the polynomials just simply use this method put (x-)to the given numbers that are zeros of the polynomials

(x-(-))(x-1)(x-8)

(x+1)(x-1)(x-8) →(x+1)(x-1) are diff. of two squares (x²-1)

(x²-1)(x-8)

x²(x-8)-1(x-8)

p(x)=x³-8x²-x+8

4 0
3 years ago
Can someone help me​
enot [183]

Answer:

EFD

Step-by-step explanation:

Just follow the marks on the triangle.

3 0
2 years ago
Read 2 more answers
Sam collected six leaves to feed to his caterpillar collection if he wanted to split the leaves among seven cages how much shoul
Kazeer [188]
6÷7 is 0.857. maybe?
3 0
3 years ago
Write 504 as a product of primes. Use index notation when giving your answer.
Sergio039 [100]

Prime Factors of 504: 2, 3, 7

23 × 32 × 71 where 2, 3, 7 are prime.

7 0
2 years ago
Other questions:
  • What is 75% of 52?<br><br><br> show work pls tnx!
    13·2 answers
  • A friend gives you two baseball cards for your birthday. afterwards you start collecting them. Find and interpret the slope and
    14·2 answers
  • 15 decreased by twice a number
    10·1 answer
  • 5
    8·1 answer
  • X=1.5 and y = 3 the sum of x and y is ?
    9·2 answers
  • Calculate the time period of a pendulum if it<br>completes 46 oscillations in 20 seconds.​
    7·2 answers
  • PLEASE HELP, WILL MARK BRAINLIEST
    13·1 answer
  • ♥️♥️♥️♥️♥️♥️♥️♥️♥️♥️♥️
    9·1 answer
  • Solve the simultaneous equations 2x + y = 5 and 2y = x – 10.
    10·2 answers
  • I need these questions done triginometry
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!