Let the total amount that Sarah deposited be $x
using the annuity formula:
A=P[((1+r)^n-1)/r]
A=future value
r=rate
n=number of years
from the information given:
A=$500000
r=2.75%
n=65-42=23 years
p=$x
thus plugging our values in the formula we get:
500000=x[((1+0.0275)^(23)-1)/(0.0275)]
500000=31.50x
x=15,872.04883
She deposited 15,873.04883 per year
The monthly deposit will therefore be:
15873.04883/12=$1322.67
Answer:
15 in
Step-by-step explanation: It would be 15 in because 12+12 equals 24 and 50-24=30 and 30 divided by 2 equals 15 in.
Answer:
the value of 2 in 0.812 is 2 thousandths/0.002
0.002 = 2/1000
0.812 = 812/1000
