Answer:
Annuity due is an annuity whose payment is due immediately at the beginning of each period. Annuity due can be contrasted with an ordinary annuity where payments are made at the end of each period. A common example of an annuity due payment is rent paid at the beginning of each month.
Step-by-step explanation:
Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments.
Answer:
Step-by-step explanation:
To find the amount deposited, we will simply use the formula for calculating simple interest.
Simple Interest = pxrxt/100 (fraction)
Where p = principal
R= Rate
T= Time
Principal is the initial amount deposited which we are ask to find.
R is given to be 6% and T is the time which is given in years
Simple interest is the interest earned over the year which is given to be $400
Lets substitute our variable into the equation
Simple Interest = pxrxt/100 (fraction)
$400 = P × 6 × 3 / 100
$400 = 18p/100 (fraction)
We will then cross multiply
$40 000 = 18 P
To get the value of P, we divide both-side of the equation by 18
4000/18 = 18p/18 (fractions)
$2222.22 = P
P = $2222.22
credits: ummuabdallah
Multiply negative 0.5 times negative 8
The answer is 4
The answer to this question is 6
