Answer:
Step-by-step explanation:
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
Hope it helps.
Thank you :)
Answer:
The Principle of Zero Products states that if the product of two numbers is 0, then at least one of the factors is 0. (This is not really new.) If ab = 0, then either a = 0 or b = 0, or both a and b are 0.
hope it helped
Answer:
x = -3
Step-by-step explanation:

Substitute -5 for p in the given equation and solve
