Answer: 275$
I'm not entirely sure I did this right! But at least try!!!
Step-by-step explanation:
20/100 = 55/x (cross multiply)
20x = 5,500 (divide)
X = 275
The future value of a monthly deposit A=125.30 at annual interest i=0.015 per annum for n=35 years compounded monthly is given by
FV=A((1+i/12)^(12*n)-1)/(i/12)
=125.30(1+0.015/12)^(12*35)/(0.015/12)
=$69156.05
The annuity formula is given by
Payment = r(PV)/(1-(1+r)^(-n))
where
r=interest rate per period = 0.015/12
PV= $69156.05
n=20*12=240
so
Payment = (0.015/12)<span>69156.05/(1-(1+0.015/12)^(-240))
= $333.71 per month.</span>
<span>50.4a is the answer to solving the equation
</span>
Answer:
Step-by-step explanation:
booom
Answer:
11
Step-by-step explanation:
