Let the total amount that Sarah deposited be $x
using the annuity formula:
A=P[((1+r)^n-1)/r]
A=future value
r=rate
n=number of years
from the information given:
A=$500000
r=2.75%
n=65-42=23 years
p=$x
thus plugging our values in the formula we get:
500000=x[((1+0.0275)^(23)-1)/(0.0275)]
500000=31.50x
x=15,872.04883
She deposited 15,873.04883 per year
The monthly deposit will therefore be:
15873.04883/12=$1322.67
68.40 divide 6 = 11.4
41.80 divided 4= 10.45
Plan B is lower fee per lesson
Answer:
2+2=4
Step-by-step explanation:
Thanks ig
Answer:
1. y= 2x-5
2. y= x+3
3. y=2x+7
Step-by-step explanation:
