Answer:
a. $311,555.26
b. $500,000
c. $188,444.74
Step-by-step explanation:
The computation is shown below:
a. Here we have to determine the present value
Given that
PMT = $25,000
NPER = 20
RATE = 5%
FV = $0
The formula is shown below:
= -PV(RATE;NPER;PMT;FV;TYPE)
after applying the above formula, the amount that need in the beginning is $311,555.26
b. The total money should be
= $25,000 × 20 years
= $500,000
c. The amount of interest is
= $500,000 - $311,555.26
= $188,444.74
The difference between the mixed numbers is equal to 5/6.
<h3>How to perform the subtraction between the two mixed numbers?</h3>
A mixed number is a number that is written as a whole number plus an improper fraction, here we want to compute:
(2 + 1/2) - (1 + 2/3)
We can group the whole numbers and the fractions, so we get:
(2 - 1) + (1/2 - 2/3)
Now we can simplify this so we get:
(2 - 1) + (1/2 - 2/3)
= 1 + (3/6 - 4/6) = 1 - 1/6 = 6/6 - 1/6 = 5/6
We conclude that the difference between the mixed numbers is equal to 5/6.
If you want to learn more about mixed numbers:
brainly.com/question/1746829
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Answer:
Step-by-step explanation:
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