Answer:5.86 9.26
Step-by-step explanation:
8.006
-6.38 = 1.626
Hope this help
First calculate the future value of the annuity
The formula to find the future value of an annuity ordinary is
Fv=pmt [((1+r/k)^(kn)-1)÷(r/k)]
Fv future value?
PMT quarterly payment 1500
R interest rate 0.12
K compounded quarterly 4
N time 4 years
Fv=1,500×(((1+0.12÷4)^(4×4)
−1)÷(0.12÷4))
=30,235.32
Now compare the amount of the annuity with amount of the gift
30,235.32−30,000=235.32
So as you can see the amount of the annuity is better than the amount of the gift by 235.32
Second offer is better
Hope it helps!
Y = x + 6 is the correct answer