3 years ago

PLEASE ANSWERRR

Mathematics

1 answer:

SVETLANKA909090 [29]3 years ago

6 0

Answer:

y=1x+0 hope this helps

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in the following ordinary annuity interest is compounded with each payment and the payment is made at the end of the compounding

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Answer: $59313.58

Step-by-step explanation:

We know that formula we use to find the accumulated amount of the annuity ( ordinary annuity interest is compounded ) is given by :-

$FV=A(\frac{(1+\frac{r}{m})^{mt})-1}{\frac{r}{m}})$ , where A is the annuity payment deposit, r is annual interest rate , t is time in years and n is number of periods.

Given : Annuity payment deposit :A= $4500

rate of interest :r= 6%=0.06

No. of periods : m= 1 [∵ its annual]

Time : t= 10 years

Now we get,

$FV=(4500)(\frac{(1+\frac{0.06}{1})^{1\times10})-1}{\frac{0.06}{1}})\\\\\Rightarrow\ FV=(4500)(\frac{(1.06)^{10})-1}{0.06})\\\\\Rightarrow\ FV=(4500)(\frac{0.79084769654}{0.06})\\\\\Rightarrow\ FV=(4500)(13.1807949423)\\\\\Rightarrow\ FV=59313.5772407\approx59313.58 \ \$

∴ the accumulated amount of the annuity= $59313.58

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