X = 77.789
y = 23...............................
We need to make them all equivalent, so when all denominators are equal, we can see. 1/2 is 50/100, 3/5 is 60/100, and 99/100 stays the same.
The biggest is 99/100.
It’s C. Since that’s the middle based on the diagram
I think 1 is A , I think!
Answer:
$2502.60
Step-by-step explanation:
The formula for the amount of an annuity due is ...
A = P(1 +r/n)((1 +r/n)^(nt) -1)/(r/n)
where P is the monthly payment (100), r is the annual interest rate (.04), n is the number of compoundings per year (12), and t is the number of years (2). Given these numbers, the formula evaluates to ...
A = $100(1.00333333)(1.00333333^24 -1)/0.00333333
= $100(301)(0.08314296)
= $2502.60
_____
This value is confirmed by a financial calculator. The given answer choices all appear to be incorrect. The closest one corresponds to an annual interest rate (APR) of 4.286%, not 4%.
