Answer: Philip can earn back his initial investment in 12.4 years
Step-by-step explanation:
Amount Invested by Philips in period annuity = 800,000
Annual Percentage Rate (APR) = 5.2%
APR compounded monthly for a period of 20 years.
Amount to be received per annuity period = 800,000 * (((1+(0.052/12))^240)*(0.052/12))/(((1+0.052/12))^240)-1)
= 5368.43
Time taken ( in months ) by Philip to earn back his initial investment = 800,000/5368.43 = 149.02 months
Time taken ( in years ) by Philip to earn back his initial investment = 149.02/12 = 12.4 years
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She owes him $0.75 because if she paid him $1.50 already you just subtract that from $2.25
Solve within parenthesis first so .49 +.045 =.535 so then divide by five which is .107
Answer:
1/6 or 16.67
Step-by-step explanation:
As there are 6 parts, the theoretical probability of landing on a one is 1/6 or 16.67 (16.666 repeating).