Urgent Multiple Choice 25 points
1 answer:
You might be interested in
Answer:
Yes; she will have $4008 for other expenses.
Step-by-step explanation:
First you find out how much she saved by multiplying 350 by 36 as she saved for 3 years which is 36 months.
After that you need to work out the amount she needs in total for her tuition by multiplying 4 by 3723 which is the amount needed per year.
If her parents add to her account half the amount she saved that means that they give her an additional 6300 as that's half of 12600.
This means she has 18900 and if you take away 14892 you will be left with 4008 for expenses.
Answer:
$102,677.20
Step-by-step explanation:
The present value of an annuity due is determined by the following expression:
Where 'P' is the amount of each payment received, 'r' is the interest rate on the investment and 'n' is the number of yearly payments.
With 20 annual payments of $10,000 at a rate of 8.5%, the present value is:
The present value of your winnings is $102,677.20.