Answer:
The PV of an ordinary annuity with 10 payments of $2,700 if the appropriate interest rate is 5.5% is $20,352.
Step-by-step explanation:
P = PMT [(1 - (1 / (1 + r)
)) / r]
= 2,700 [(1 - (1 / (1 + 0.055)
)) / 0.05]
= 2,700 [(1 - (1 / (1 + 0.055)
)) / 0.05]
= 2,700 [(1 - (1 / (1.708)) / 0.05]
= 2,700 [(1 - 0.58)) / 0.05]
= 2,700 [(0.41457) / 0.05]
= 2,700(7.53)
=$ 20,352
Answer:
it will take her 2 hours and 45 minutes
Answer:
x = 6/5
Step-by-step explanation:
3x - 3/5 + 2 = 5
<u>Add 3/5 and -2 on both sides.</u>
3x = 5 + 3/5 - 2
3x = 18/5
<u>Divide 3 on both sides.</u>
x = 18/5 ÷ 3
x = 18/15
x = 6/5