The total amount he would have at 69 is $343,347.81.
<h3>What is the total amount saved?</h3>
The formula that can be used to determine the future value of the deferred annuity is:
Future value = annuity factor x monthly deposit
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- r = interest rate = 5.5 /2 = 2.75%
- n = number of payments = 2 x (69 - 24) = 90
Amount he would save every 6 months:
- amount saved per day = $2.50 x 2 = $5
- Amount saved per month : $5 x 30 = $150
- Amount saved every 6 months = $150 x 6 = $900
Future value : 900 x {[(1.0275^90) - 1] / 0.275}= $343,347.81
To learn more about annuities, please check: brainly.com/question/24108530
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Hey!!
here is your answer >>>
(Cube root 27 ) (cube root 64)
cube root of 27 is 3 and cube root of 64 is 4!.
now if we multiply them, we get
(3)(4)
12 !.
The answer is 12!.
Hope my answer helps!
Answer:
Step-by-step explanation:
a.
Initial value of the pass is $100
From the difference in values we can see the cost of one ride is $1.75
<u>The formula:</u>
- P(r) = 100 - 1.75r, P- the value of the pass, r- the number of rides
<u>Value of the pass after 15 rides:</u>
- P(15) = 100 - 1.75*15 = 73.75
b.
<u>Number of possible rides:</u>
- 0 = 100 - 1.75r
- 1.75r = 100
- r = 100/1.75
- r = 57 (rounded to the whole number)
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Answer:
We have been given confidence interval 95%, mean 20 , data set 30 and standard deviation 3.
We will use the formula: 
Here,
Z-score value at 95% confidence interval is 1.96
On substituting the values in the formula to plug the values:
Now, we have a formula for marginal error:
Marginal error means your answer will be within that percentage only.
Say you have 3% marginal means your value will be within 3% real population 95% of the time.
