Answer:
Ans. the present value of $1,300/month, at 6.4% compounded monthly for 360 months (30 years) is $207,831.77
Step-by-step explanation:
Hi, first, we have to turn that 6.4% compound monthly rate into an effective rate, one that meets the units of the payment, in our case, effective monthly, that is:
Therefore, our effective monthly rate is 0.5333%, and clearly the time of the investment is 30 years*12months=360 months.
Now, we need to use the following formula.
Everything should look like this.
Therefore
Best of luck.
<span>A geometric plane is two-dimensional. Standing at one point in the plane and picking two directions to travel which are not opposites of one another, any direction of travel on the plane can be obtained by composing these two directions. Since it is two directions, the plane is two-dimensional.
There is a way of describing this also using algebra. The general equation for a plane is ax + by + c = 0. For example, when a = 2, b = 3, and c = 4, the equation 2x + 3y = 4 is that of a plane. Since there are two variables here, x and y, the plane is two-dimensional.</span>
Answer:
d
Step-by-step explanation: