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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Converting percentage to a decimal:
<span>25% = 25 / 100 = 0.25 </span>
<span>What is 25% of 11.48 </span>
<span>= 25% * 11.48 </span>
<span>= 0.25 * 11.48 </span>
<span>= 2.87</span>
Let y = the distance between the top left corner and the bottom right corner
y^2 = 24^2 + 15^2
y^2 = 801
y = 3 * sqrt(89)
Now we can find x.
12^2 + x^2 = (3 * sqrt(89))^2
x^2 = 657
x = 3 * sqrt(73) or 25.63
