Answer:
$102,677.20
Step-by-step explanation:
The present value of an annuity due is determined by the following expression:
Where 'P' is the amount of each payment received, 'r' is the interest rate on the investment and 'n' is the number of yearly payments.
With 20 annual payments of $10,000 at a rate of 8.5%, the present value is:
The present value of your winnings is $102,677.20.
Answer:
Therefore the solution set is (x , y) = ( 2 , 1 )
Step-by-step explanation:
Given:
...............Equation ( 1 )
...............Equation ( 2 )
...............Equation ( 3 )
To Find:
x = ?
y = ?
Solution:
Using Substitution Method we will have
Substitute above ' y ' Equation 3 in Equation 1 we get
Now Substitute ' x ' in Equation 3 we get
Therefore the solution set is (x , y) = ( 2 , 1 )