We are asked to determine the present value of an annuity that is paid at the end of each period. Therefore, we need to use the formula for present value ordinary, which is:
Where:
Since the interest is compounded semi-annually this means that it is compounded 2 times a year, therefore, k = 2. Now we need to convert the interest rate into decimal form. To do that we will divide the interest rate by 100:
Now we substitute the values:
Now we solve the operations, we get:
Therefore, the present value must be $39462.50
15 - 9 = 6 6÷3=2 X=2
You do the inverse operation
This is the answer to your question. I hope this helps!
Answer:
38 kids on each team about.
I am Not 100% sure but I hope this Helps!
So D.
The lot costs 5000 dollars.
<u>Step-by-step explanation:</u>
The cost of a House and the lot = $40,000.
Let us assume the cost of lot as 'x'
Given that, The cost of the house is 7 times as much as the lot.
Therefore, The cost of the house= 7x
The cost of both the house and the lot= x + 7x
$40,000 = x + 7x
40,000 = 8x
x = 40,000/8
x = 5,000
The lot costs $5000.
