![\bf \qquad \qquad \textit{Future Value of an ordinary annuity} \\\\ A=pymnt\left[ \cfrac{\left( 1+\frac{r}{n} \right)^{nt}-1}{\frac{r}{n}} \right]](https://tex.z-dn.net/?f=%5Cbf%20%5Cqquad%20%5Cqquad%20%5Ctextit%7BFuture%20Value%20of%20an%20ordinary%20annuity%7D%0A%5C%5C%5C%5C%0AA%3Dpymnt%5Cleft%5B%20%5Ccfrac%7B%5Cleft%28%201%2B%5Cfrac%7Br%7D%7Bn%7D%20%5Cright%29%5E%7Bnt%7D-1%7D%7B%5Cfrac%7Br%7D%7Bn%7D%7D%20%5Cright%5D)

![\bf A=5280\left[ \cfrac{\left( 1+\frac{0.06}{1} \right)^{1\cdot 4}-1}{\frac{0.06}{1}} \right]](https://tex.z-dn.net/?f=%5Cbf%20A%3D5280%5Cleft%5B%20%5Ccfrac%7B%5Cleft%28%201%2B%5Cfrac%7B0.06%7D%7B1%7D%20%5Cright%29%5E%7B1%5Ccdot%20%204%7D-1%7D%7B%5Cfrac%7B0.06%7D%7B1%7D%7D%20%5Cright%5D)
Joe is making $485 payments monthly, but the amount gets interest on a yearly basis, not monthly, so the amount that yields interest is 485*12
also, keep in mind, we're assuming is compound interest, as opposed to simple interest
Answer:
7.583333 / 7 7/12
Step-by-step explanation:
2 1/3 × 3 1/4
2 1/3=7/3
3 1/4= 13/4
7/3 * 13/4
=91/12
=7 7/12
Answer:
6 samples
Step-by-step explanation:
Given :
Sample size, = n
Standard deviation, = 6000
Margin of Error = 2000
Confidence interval, α = 95%
Zcritical at 95% = 1.96
n = (Zcritical * σ) / margin of error
n = (1.96 * 6000) /2000
n = 11760 / 2000
n = 5.88
n = 6 samples
Change 212,514 into 215,000.
Change 396,705 into 400,000.
--------
Estimate:
215,000 + 400,000 = 615,000
Therefore:
212,514 + 396,705 ≈ 615,000
Answer:
Option B is tge right answer.
3.07/10⁴= 0.000307