Answer:
The PV of an ordinary annuity with 10 payments of $2,700 if the appropriate interest rate is 5.5% is $20,352.
Step-by-step explanation:
P = PMT [(1 - (1 / (1 + r)
)) / r]
= 2,700 [(1 - (1 / (1 + 0.055)
)) / 0.05]
= 2,700 [(1 - (1 / (1 + 0.055)
)) / 0.05]
= 2,700 [(1 - (1 / (1.708)) / 0.05]
= 2,700 [(1 - 0.58)) / 0.05]
= 2,700 [(0.41457) / 0.05]
= 2,700(7.53)
=$ 20,352
3/4 also equals 12/16 so 12/16+5/16= 17/16 or 1 1/16
Answer:
c 120
Step-by-step explanation:
I'm thinking isit is c120