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zavuch27 [327]
3 years ago
10

ABC Insurance offers an annuity with 4.5% APR for the next 5 years. You decide to invest $1000 each year into this account. What

type of annuity is this?
Mathematics
2 answers:
kipiarov [429]3 years ago
7 0

Answer:

Ordinary annuity

Step-by-step explanation:

Given : ABC Insurance offers an annuity with 4.5% APR for the next 5 years. You decide to invest $1000 each year into this account.

To find : What type of annuity is this?

Solution :

Annuity is the form of insurance in which some of the money is paid each year to secure for future.

There are two types of annuity:

Ordinary annuity - In this annuity the payment is made at the end of each period  over a fixed length of time. Also in this annuity payments are made monthly, quarterly, semi-annually or annually.

Annuity due - is the opposite of ordinary annuity as in this the payment is made at the beginning of each period.

In the given situation the annuity is ordinary annuity because the investment is done each year for 5 years.


Orlov [11]3 years ago
7 0

Answer:

reaccuring payment fixed annuity

Step-by-step explanation:

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mafiozo [28]

Answer:

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Step-by-step explanation:

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Elden [556K]

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4 0
3 years ago
1. In school lottery to win a price for "Free Domino's Pizza" it is required to select 5 numbers (in any order) out of 40 number
barxatty [35]

Answer:

1/8 ;

12 / 51

Step-by-step explanation:

To select any 5 numbers out of 40

Number of selection required / total numbers

Probability of winning = 5 /40 = 1/8

Total number of socks = 18

White, W = 8

Black, B = 6

Blue, C = 4

probability, without looking in the drawer, that you will first select and remove a black pair, then select either a blue or a white pair?

P(B) * [(P(C) + P(W)]

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P(B) = 6 / 18 = 1/3

Without replacement :

P(W or C) = 8/17 + 4/17 = 12/17

Hence,

1/3 * 12/17

= 12 / 51

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3 years ago
Can you please help? Thank you...
solmaris [256]
The answer to the question

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