Answer:
The answer is 3/2 or 1 1/2
Step-by-step explanation:
First, you have to make it as a improper fraction :






Next, you can divide it by cutting out the common factor :





(24+2)+2=28.
First, you work with the parentheses. (24+2)=26. So now your expression is 26+2. Lastly, you solve the expression. 26+2=28.
Let the total amount that Sarah deposited be $x
using the annuity formula:
A=P[((1+r)^n-1)/r]
A=future value
r=rate
n=number of years
from the information given:
A=$500000
r=2.75%
n=65-42=23 years
p=$x
thus plugging our values in the formula we get:
500000=x[((1+0.0275)^(23)-1)/(0.0275)]
500000=31.50x
x=15,872.04883
She deposited 15,873.04883 per year
The monthly deposit will therefore be:
15873.04883/12=$1322.67
Answer:
B
Step-by-step explanation:
Not much to explain