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Answer:
B. $7.04
Step-by-step explanation:
5.28 / 3 = 1.76
1.76 x 4 = 7.04
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
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Think of it this way: x multiplied by a number that is two more than x is y.
So, look at the factors. 3 and 8 wouldn't work, because 8 is 5 longer than 3. 1 and 24 wouldn't work, because 24 is 23 more than 1. 12 and 2 is also not going to work; 12 is 10 more than 2. What you have left is 4 and 6. 6 is 2 more than 4, and they both multiply to get 24.
So, the correct answer is 6 feet long and 4 feet wide.