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
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

You might be interested in
What is square root in simplified form? What is in simplified form?
Anon25 [30]

Answer:

Step-by-step explanation:

Let as us 45 as the number we should use to get the square root in the simplest form

And then 144

The square root of a number in is simplest form means to get the number inside the radical as low as possible

8 0
3 years ago
3/10 and 1/2 with common denominator
stiks02 [169]

Answer:

3/10 and 5/10

Step-by-step explanation:

8 0
3 years ago
Read 2 more answers
Help me please!!!!!!​
Arada [10]
<h3>Answer: sin(C) = 3/5</h3>

==========================================================

Explanation:

Recall that sine is the ratio of opposite over hypotenuse.

For angle C, the opposite side is AB = 24 as this leg is furthest as possible from angle C. The hypotenuse is always opposite the 90 degree angle.

So,

sin(angle) = opposite/hypotenuse

sin(C) = AB/AC

sin(C) = 24/40

sin(C) = (8*3)/(8*5)

sin(C) = 3/5

If you want to find the measure of angle C, then you apply the arcsine rule to both sides. Inverse sine is the same as arcsine.

5 0
3 years ago
Read 2 more answers
You deposit 12,000 in an account that pays 5% interest compounded quarterly .
ExtremeBDS [4]
P is the principal amount, $12000.00.
r is the interest rate, 5% per year, or in decimal form, 5/100=0.05.
t is the time involved, 3....month(s) time periods.
Since your interest rate is "per year" and you gave your time interval in "month(s)" we need to convert your time interval into "year" as well.
Do this by dividing your time, 3- month(s), by 12, since there's 12 months in 1 year.
So, t is 0.25....year time periods.
To find the simple interest, we multiply 12000 × 0.05 × 0.25 to get that:

The interest is: $150.00
Usually now, the interest is added onto the principal to figure some new amount after 3 month(s),
or 12000.00 + 150.00 = 12150.00. For example:

If you borrowed the $12000.00, you would now owe $12150.00
If you loaned someone $12000.00, you would now be due $12150.00
If owned something, like a $12000.00 bond, it would be worth $12150.00 now.
8 0
3 years ago
Find the equation of the straight line parallel to 2y=3x-7 and passing though the point (0.5,-1)
scZoUnD [109]
<span>2y=3x-7 
y = 3/2x - 7/2
y = 1.5x - 3.5 so slope = 1.5
</span><span>line parallel so it has same slope = 1.5
</span>
y +1 = 1.5(x - 0.5)
y + 1 = 1.5x - 0.75
y = 1.5x  - 1.75

answer: equation y = 1.5x  - 1.75
8 0
3 years ago
Other questions:
  • What is the Answer to four times four
    12·2 answers
  • Use synthetic substitution to find g(2) and g(-7) for the function g(x)=5x^4 - 3x^2 +6x-4
    6·1 answer
  • which set of number could represent the length of the sides of a right triangle? A 9 11 14 B 15 18 21 C 7 24 25 D 8 9 10
    13·2 answers
  • Please help me in here. And thx for da ' help
    9·1 answer
  • Can you guys plzzz help. This is precalc. I’m a senior
    11·2 answers
  • What is the volume of a cone that has a radius of 12 m and a height of 3 m?
    15·1 answer
  • The following table shows a proportional relationship between www and zzz.
    10·2 answers
  • Find the area of the shape below.<br> 10 cm<br> 27 cm<br> 9 cm<br> 24 cm
    7·2 answers
  • What is X + 9 &lt; 5 =
    8·1 answer
  • Guess my favorite number between 15-30
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!