C= 175 + 4(80)
total cost of 5000 stickers: $495
Answer:
B
Step-by-step explanation:
The formula for finding present value of an ordinary annuity is:
, where P - money to be deposited, i - interest rate, n - number of payments.
So in this case, P = 35000, i = 6 / 100 = 0.06, n = 20.
Now, we have everything needed to determine how much money must be deposited:
So the answer is
$401,447.24.