Answer:
0.00420
Step-by-step explanation:
Answer:
27000
Step-by-step explanation:
Just multiple 300 and 90
Hi there
The formula of the present value of annuity ordinary is
Pv=pmt [(1-(1+r)^(-n))÷r]
So we need to solve for pmt (the amount of the annual withdrawals)
PMT=pv÷ [(1-(1+r)^(-n))÷r]
Pv present value 65000
R interest rate 0.055
N time 10 years
PMT=65,000÷((1−(1+0.055)^(
−10))÷(0.055))
=8,623.40....answer
Hope it helps
Multiple the numerator and the denominator by the same whole number for example 3:4 x 5 = 15:20