If you add a zero at the end it is easier to understand. 0.20 > 0.18 because 20 is greater than 18
Answer:
It is a equation
Step-by-step explanation:
Because it has an equal sign if it does not it will be a expression.
Answer:
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$535,528.03
Since the semiannual withdrawals will be made for 35 years, the annuity will have two payments per year.
You may use a financial calculator to calculate the balance that will match the present value of your annuity distributions when you retire. The following are the inputs:
N = 35*2 = 70 semi-annual withdrawals total time
I/Y = 4.5 percent /2 = 2.25 percent semi-annual interest rate
FV = 0 (future value) (use 0 in annuity if not given)
PMT = 15,265; semi-annual payment
Enter the functions to find PV: CPT PV = 535,528.026
As a result, the person will need $535,528.03 in cash.
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