Recently, More Money 4U offered an annuity that pays 5.4% compounded monthly. If $1,132 is deposited into this annuity every mo

Question

charle [14.2K]

3 years ago

10

Recently, More Money 4U offered an annuity that pays 5.4% compounded monthly. If $1,132 is deposited into this annuity every mo

nth, how much is in the account after 12 years? How much of this is interest

Mathematics

2 answers:

Harlamova29_29 [7] · Answer 1 · 2022-07-23T05:55:50+03:00

Rate = rate / 12 months =.054 / 12 = .0045

Total = 1,132 *[(1.0045)^13 -1 / .0045)] - 1,132
Total = 1,132 * [(1.0601058573 -1 / .0045] - 1,132

Total = 1,132 * [(.0601058573 / .0045] - 1,132 
Total = 1,132 * 13.3568571853 -1,132

Total = 1,132 * 13.3568571853

 Total = 15,119.96 -1,132

Total = 13,987.96

ICE Princess25 [194] · Answer 2 · 2022-07-23T08:02:01+03:00

Answer:

How much of this is interest

capital 163008

Interest 65640,06

Total 228648,064

Step-by-step explanation:

FVOrdinary Annuity=C*(1+i)n-1/i

FVOrdinary Annuity=1132*(1+5,4%/12)12*120-1/5,4%/12

Monthly i N Pot x x/int VF

1132 0,45% 144 1,90893665 0,91 201,99 228648,064

Annual % N Annual % VF

1132 1,00 143 1132 1,90 2.151,24

1132 1,00 142 1132 1,89 2.141,60

1132 1,00 141 1132 1,88 2.132,00

1132 1,00 140 1132 1,87 2.122,45

1132 1,00 139 1132 1,87 2.112,95

1132 1,00 138 1132 1,86 2.103,48

1132 1,00 137 1132 1,85 2.094,06

1132 1,00 136 1132 1,84 2.084,68

1132 1,00 135 1132 1,83 2.075,34

1132 1,00 134 1132 1,83 2.066,04

1132 1,00 133 1132 1,82 2.056,78

1132 1,00 132 1132 1,81 2.047,57

1132 1,00 131 1132 1,80 2.038,40

1132 1,00 130 1132 1,79 2.029,27

1132 1,00 129 1132 1,78 2.020,17

1132 1,00 128 1132 1,78 2.011,12

1132 1,00 127 1132 1,77 2.002,11

1132 1,00 126 1132 1,76 1.993,15

1132 1,00 125 1132 1,75 1.984,22

1132 1,00 124 1132 1,74 1.975,33

1132 1,00 123 1132 1,74 1.966,48

1132 1,00 122 1132 1,73 1.957,67

1132 1,00 121 1132 1,72 1.948,90

1132 1,00 120 1132 1,71 1.940,17

1132 1,00 119 1132 1,71 1.931,48

1132 1,00 118 1132 1,70 1.922,82

1132 1,00 117 1132 1,69 1.914,21

1132 1,00 116 1132 1,68 1.905,63

1132 1,00 115 1132 1,68 1.897,10

1132 1,00 114 1132 1,67 1.888,60

1132 1,00 113 1132 1,66 1.880,14

1132 1,00 112 1132 1,65 1.871,72

1132 1,00 111 1132 1,65 1.863,33

1132 1,00 110 1132 1,64 1.854,98

1132 1,00 109 1132 1,63 1.846,67

1132 1,00 108 1132 1,62 1.838,40

1132 1,00 107 1132 1,62 1.830,16

1132 1,00 106 1132 1,61 1.821,97

1132 1,00 105 1132 1,60 1.813,80

1132 1,00 104 1132 1,60 1.805,68

1132 1,00 103 1132 1,59 1.797,59

1132 1,00 102 1132 1,58 1.789,54

1132 1,00 101 1132 1,57 1.781,52

1132 1,00 100 1132 1,57 1.773,54

1132 1,00 99 1132 1,56 1.765,59

1132 1,00 98 1132 1,55 1.757,68

1132 1,00 97 1132 1,55 1.749,81

1132 1,00 96 1132 1,54 1.741,97

1132 1,00 95 1132 1,53 1.734,17

1132 1,00 94 1132 1,53 1.726,40

1132 1,00 93 1132 1,52 1.718,66

1132 1,00 92 1132 1,51 1.710,96

1132 1,00 91 1132 1,50 1.703,30

1132 1,00 90 1132 1,50 1.695,67

1132 1,00 89 1132 1,49 1.688,07

1132 1,00 88 1132 1,48 1.680,51

1132 1,00 87 1132 1,48 1.672,98

1132 1,00 86 1132 1,47 1.665,49

1132 1,00 85 1132 1,46 1.658,03

1132 1,00 84 1132 1,46 1.650,60

1132 1,00 83 1132 1,45 1.643,20

1132 1,00 82 1132 1,45 1.635,84

1132 1,00 81 1132 1,44 1.628,51

1132 1,00 80 1132 1,43 1.621,22

1132 1,00 79 1132 1,43 1.613,96

1132 1,00 78 1132 1,42 1.606,73

1132 1,00 77 1132 1,41 1.599,53

1132 1,00 76 1132 1,41 1.592,36

1132 1,00 75 1132 1,40 1.585,23

1132 1,00 74 1132 1,39 1.578,13

1132 1,00 73 1132 1,39 1.571,06

1132 1,00 72 1132 1,38 1.564,02

1132 1,00 71 1132 1,38 1.557,01

1132 1,00 70 1132 1,37 1.550,04

1132 1,00 69 1132 1,36 1.543,09

1132 1,00 68 1132 1,36 1.536,18

1132 1,00 67 1132 1,35 1.529,30

1132 1,00 66 1132 1,34 1.522,45

1132 1,00 65 1132 1,34 1.515,63

1132 1,00 64 1132 1,33 1.508,84

1132 1,00 63 1132 1,33 1.502,08

1132 1,00 62 1132 1,32 1.495,35

1132 1,00 61 1132 1,32 1.488,65

1132 1,00 60 1132 1,31 1.481,98

1132 1,00 59 1132 1,30 1.475,34

1132 1,00 58 1132 1,30 1.468,73

1132 1,00 57 1132 1,29 1.462,15

1132 1,00 56 1132 1,29 1.455,60

1132 1,00 55 1132 1,28 1.449,08

1132 1,00 54 1132 1,27 1.442,59

1132 1,00 53 1132 1,27 1.436,13

1132 1,00 52 1132 1,26 1.429,69

1132 1,00 51 1132 1,26 1.423,29

1132 1,00 50 1132 1,25 1.416,91

1132 1,00 49 1132 1,25 1.410,57

1132 1,00 48 1132 1,24 1.404,25

1132 1,00 47 1132 1,23 1.397,96

1132 1,00 46 1132 1,23 1.391,69

1132 1,00 45 1132 1,22 1.385,46

1132 1,00 44 1132 1,22 1.379,25

1132 1,00 43 1132 1,21 1.373,07

1132 1,00 42 1132 1,21 1.366,92

1132 1,00 41 1132 1,20 1.360,80

1132 1,00 40 1132 1,20 1.354,70

1132 1,00 39 1132 1,19 1.348,63

1132 1,00 38 1132 1,19 1.342,59

1132 1,00 37 1132 1,18 1.336,58

1132 1,00 36 1132 1,18 1.330,59

1132 1,00 35 1132 1,17 1.324,63

1132 1,00 34 1132 1,16 1.318,70

1132 1,00 33 1132 1,16 1.312,79

1132 1,00 32 1132 1,15 1.306,91

1132 1,00 31 1132 1,15 1.301,05

1132 1,00 30 1132 1,14 1.295,22

1132 1,00 29 1132 1,14 1.289,42

1132 1,00 28 1132 1,13 1.283,64

1132 1,00 27 1132 1,13 1.277,89

1132 1,00 26 1132 1,12 1.272,17

1132 1,00 25 1132 1,12 1.266,47

1132 1,00 24 1132 1,11 1.260,80

1132 1,00 23 1132 1,11 1.255,15

1132 1,00 22 1132 1,10 1.249,53

1132 1,00 21 1132 1,10 1.243,93

1132 1,00 20 1132 1,09 1.238,36

1132 1,00 19 1132 1,09 1.232,81

1132 1,00 18 1132 1,08 1.227,28

1132 1,00 17 1132 1,08 1.221,79

1132 1,00 16 1132 1,07 1.216,31

1132 1,00 15 1132 1,07 1.210,86

1132 1,00 14 1132 1,06 1.205,44

1132 1,00 13 1132 1,06 1.200,04

1132 1,00 12 1132 1,06 1.194,66

1132 1,00 11 1132 1,05 1.189,31

1132 1,00 10 1132 1,05 1.183,98

1132 1,00 9 1132 1,04 1.178,68

1132 1,00 8 1132 1,04 1.173,40

1132 1,00 7 1132 1,03 1.168,14

1132 1,00 6 1132 1,03 1.162,91

1132 1,00 5 1132 1,02 1.157,70

1132 1,00 4 1132 1,02 1.152,51

1132 1,00 3 1132 1,01 1.147,35

1132 1,00 2 1132 1,01 1.142,21

1132 1,00 1 1132 1,00 1.137,09

1132 1,00 0 1132 1,00 1.132,00

Recently, More Money 4U offered an annuity that pays 5.4% compounded monthly. If $1,132 is deposited into this annuity every​ mo

Recently, More Money 4U offered an annuity that pays 5.4% compounded monthly. If $1,132 is deposited into this annuity every mo