Based on the information, Christian would have $5525.5 of an annuity.
<h3>How to calculate the annuity?</h3>
According to the given information, the number of coffees per week is 3 then, per month is 3x4 = 12
Each coffee is $4.5. Then monthly expenditure for coffees is 12 x 4.5 = $54
Rate of interest r = 1.6% = 1.6/100 = 0.016 and for monthly compounding r = 0.016/12 = 0.00133
n = number of payments = 8 x 12 = 96
We can use the formula for finding the future value as below
FV = C x [ ( 1 + r )n-1 ] / ( r )
FV = 54 x [ ( 1 + 0.00133 )96 – 1 ] / (0.00133)
= 54 x [ (1.13609 - 1)] / (0.00133)
= 54 x 0.13609 / (0.00133)
= 54 x 102.3233
= 5525.5
Therefore Christian would have $5525.5 of the annuity.
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Answer:
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Step-by-step explanation:
Answer:
-3/5
Step-by-step explanation:
First represent this with numbers. Less means subtraction -, times means multiplication *, is means equals =.
And let's represent "a number" with x.
63 - 15x = 72
Solve for x. First subtract 63 from both sides.
-15x = 72-63
-15x = 9
x = -9/15 = <u>-3/5</u>
Answer:
(6 , -9) (7, -9)
Or
(6, 11) (7, 11)
Step-by-step explanation:
Given: Two of the vertices of a rectangle are (6,1) and (7,1)
Perimeter= 18 units
To get the value of "x"
The distance between Two point can be calculated as (6-7)=-1
Then x= -1
We can get the value of "y" by using expression for perimeter,
The perimeter P= 2x+2y=18
= 2(-1)+2y= 18
-2+2y=18
2y=18+2
2y= 20
y=10
The "y" coordinate can move up or can move down
y1=( 1-10)=-9
Or
y2=( 1+10)=11
Hence, the two other points are;
(6 , -9) (7, -9)
Or
(6, 11) (7, 11)
Answer:
-5
Step-by-step explanation:
