Based on the information, Christian would have $5525.5 of an annuity.
<h3>How to calculate the annuity?</h3>
According to the given information, the number of coffees per week is 3 then, per month is 3x4 = 12
Each coffee is $4.5. Then monthly expenditure for coffees is 12 x 4.5 = $54
Rate of interest r = 1.6% = 1.6/100 = 0.016 and for monthly compounding r = 0.016/12 = 0.00133
n = number of payments = 8 x 12 = 96
We can use the formula for finding the future value as below
FV = C x [ ( 1 + r )n-1 ] / ( r )
FV = 54 x [ ( 1 + 0.00133 )96 – 1 ] / (0.00133)
= 54 x [ (1.13609 - 1)] / (0.00133)
= 54 x 0.13609 / (0.00133)
= 54 x 102.3233
= 5525.5
Therefore Christian would have $5525.5 of the annuity.
Learn more about annuity on:
brainly.com/question/5303391
#SPJ1
Answer:
11
Step-by-step explanation:
3*(3)^2-16
27-16=11
Answer:
8/15
Step-by-step explanation:
When multiplying fractions, simply multiply the numbers straight across. First, multiply the numerators to get 8. Then, multiply the denominators and you'll get 15.
Answer:
Ella has the greatest return in the current year.
Step-by-step explanation:
Debby would receive $0.80 for each of her 2000 common stock in the oil company,hence Debby's return on investment in the current year is $1600($0.80*2000)
Besides,Ella's return on the stock investment in the current year is computed thus:
Ella's return= 5%*1000*$50=$2,500
In addition,Unique's dollar return on the investment is computed as follows:
Unique's return on investment=4%*2000*$20=$1,600
From the above computations,Ella seems to have the highest return in the current year of $2,500 whereas the two others managed to have $1600 return each
