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GrogVix [38]
3 years ago
8

A company borrowed $40,000 cash from the bank and signed a 6-year note at 7% annual interest. The present value of an annuity fa

ctor for 6 years at 7% is 4.7665. The present value of a single sum factor for 6 years at 7% is 0.6663. The annual annuity payments equal:
Mathematics
1 answer:
cluponka [151]3 years ago
5 0
The present value (PV) of an annuity of P equal periodic payments for n years at r% is given by:


where  is the present value of an annuity factor for n years at r%.
Given that a company borrowed $40,000 cash from the bank and signed a 6-year note at 7% annual interest and that the present value of an annuity factor for 6 years at 7% is 4.7665.
Then..


Therefore, the annual annuity payments equals $8,391.90
 
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I am doing with Question Number 2

Let the two numbers be 'x' and 'y'.

According to the question, the product of two numbers is 14.

x \times y=14

So, xy=14 (Equation 1)

Now, one of the numbers is 3 ½ times the other.

So, x = 3\frac{1}{2}\times y

x=\frac{7}{2}y (Equation 2)

Substituting the value of 'x' from equation 2 in equation 1, we get

\frac{7}{2}y \times y = 14

\frac{7}{2}y^{2} = 14

y^{2} = 4

So, y= 2 and -2

So, x=\frac{14}{2} and x=\frac{14}{-2}

x=7 and -7

Numbers are 2,7 and -2,-7.

Sum of numbers 2 and 7 = 9

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