The amount she should invest today in the annuity is $455,450.40.
<h3>How much should be invested today?</h3>
The first step is to determine the future value of the monthly annuity.
Future value = monthly payment x annuity factor
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- r = interest rate = 3.6/12 = 0.3%
- n = number of periods : 15 x 12 = 180
Future value : 3250 x [(1.003^180) - 1] / 0.003 = 774,171.92
The second step is to determine the present value of this future annuity:
774, 171.92 / (1.036^15) = $455,450.40
To learn more about annuities, please check: brainly.com/question/24108530
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Answer:
98
Step-by-step explanation:
7 flowers a day time 14 days equals 98
Answer: no
Step-by-step explanation:
algebraic expression for "a number , n, divided by 4 is 4. I
Answer:
each missing angle is 120°
Step-by-step explanation:
What you have is a kite so the two missing angles are equal.
The sum of all four angles = 360°
2y = 360° - 88° - 32° = 240°
y = 120°
Answer:
The frequency table is shown below
Step-by-step explanation:
(i) Half of the tuna sandwich were on white bread = 21
On brown bread, tuna = 42 - 21 = 21
(ii) 25% of the ham sandwiches sold were on brown bread.
= 25% (32) = 8
On white bread, 32 - 8 = 24
Frequency table:
Tuna Cheese Ham Total
Brown 21 11 8 40
White 21 15 24 60
Total 42 26 32 100
