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:
Step-by-step explanation:
The highest power of x here is 3, so this is a third degree polynomial. Since the coefficient of the highest power term is +, we know that the graph approximates that of the parent function y = x^3, and that this graph begins in Quadrant III, enters Quadrant I and continues to move upward in Quadrant I.
The first book can be any one of the 5.
For each of those . . .
The 2nd book can be any one of the remaining 4.
For each of those ...
The 3rd book can be any one of the remaining 3.
For each of those . . .
The 4th book can be either of the remaining 2.
For each of those . . .
The 5th book is the last one remaining.
Total number of ways to arrange the 5 books is
(5 · 4 · 3 · 2 · 1) = 120 .
Cross off alphabetically ascending (1 way), and alphabetically
descending (1 way), and you're left with (120 - 2) = 118 ways.
Answer:
6.517%
Step-by-step explanation:
This is a multi-year investment and we are not working with a $1 initial investment. There is no mention of compounding so we will use formula A=P0⋅(1+r)N with A=$18,434 and P0=$14,320. We do not know the value of r. However, N=4 years. Substituting the values we have $18,434=$14,320⋅(1+r)4. Divide both sides of the equation by $14,320. Next, take the fourth root of both sides of the equation and subtract 1 to find the decimal form of r.
$18,4341.287291.065170.06517=$14,320⋅(1+r)4=(1+r)4=1+r=r
Finally, convert r to a percent.
r=0.06517×100%=6.517%
Answer:
62>(9*116)
Step-by-step explanation:
