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Delicious77 [7]
1 year ago
8

Jason wants to receive monthly payments of $3,250 for 15 years. How much does he have to invest now in an annuity that has an an

nual interest rate of 3.6% to achieve his goal? Round your answer to the nearest hundred.
Answer: $451,500​
Mathematics
1 answer:
LuckyWell [14K]1 year ago
8 0

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

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

#SPJ1

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The diameter of that circle is 8, because the radius is 4.

Step-by-step explanation:

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4 0
3 years ago
What is one of the solutions to the following system of equations? y2 x2 = 53 y − x = 5 (−10, −5) (−7, −2) (7, 2) (5, 10).
Aliun [14]

The solution of the system of equation is (-7, -2).

<h2>Given</h2>

The system of the equations;

\rm y^2 + x^2 = 53 \\\\y -x = 5

From equation 1

\rm  y -x=5\\\\y = 5+x

Substitute the value of y in equation 1

\rm y^2+x^2=53\\\\(5+x)^2+x^2=53\\\\25+x^2+10x+x^2=53\\\\2x^2+10x+25-53=0\\\\2 x^2 + 10x - 28 = 0     \\\\Divide \ by \ 2 \ both \ side \ the \ equation\\\\x^2 + 5x - 14 = 0\\\\x^2-7x+2x-14=0\\\\x(x-7) + 2(x-7) =0\\\\(x-7) \ (x+2)=0\\\\x-7=0 \ \ x = 7\\\\x +2 =0 \ \ x=-2

The value of x= 2 is rejected because x = 2 not satisfy the equation.

Substitute 2 for the value of x in equation II

y − x = 5

y – 2 = 5

y = 5 +2

y = 7 (x =2, y =7) … Not included in the options

If x = -7

Substitute the value of x = -7 in the equation

\rm y -x=5\\\\y - (-7)=5\\\\y +7= 5\\\\y = 5-7\\\\y = -2

Hence, the solution of the system of equation is (-7, -2).

To know more about System of Equation click the link given below.

brainly.com/question/1495351

6 0
2 years ago
One tank is filling at a rate of 4/5 gallon per 1/2 minute. A second tank is filling at a rate of 7/8 gallon per 1/2 minute. Whi
telo118 [61]

Answer:

The second tank.

Step-by-step explanation:

Since both filling up at the same rate, all you would have to do is multiply the gallons.

4/5 multiplying top and bottom by 8 is 32/40

7/8 multiplying top and bottom by 5 is 35/40

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