Can you show us the problem? What area model?
The total amount he would have at 69 is $343,347.81.
<h3>What is the total amount saved?</h3>
The formula that can be used to determine the future value of the deferred annuity is:
Future value = annuity factor x monthly deposit
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- r = interest rate = 5.5 /2 = 2.75%
- n = number of payments = 2 x (69 - 24) = 90
Amount he would save every 6 months:
- amount saved per day = $2.50 x 2 = $5
- Amount saved per month : $5 x 30 = $150
- Amount saved every 6 months = $150 x 6 = $900
Future value : 900 x {[(1.0275^90) - 1] / 0.275}= $343,347.81
To learn more about annuities, please check: brainly.com/question/24108530
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X= (3,0), (1,0)
Y= (0,3)
That's all I know for you.
Answer:
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