Answer:
3
Step-by-step explanation:
Answer:
$501,049.37
Step-by-step explanation:
For computing the amount after 22 years we need to applied the future value which is shown in the attachment below:
Given that
PMT = $9,000
NPER = 22 years
Annual rate = 0.078
Quarterly= 0.078 ÷ 4 = 0.0195
Effective annual rate = (1.0195^4) - 1 = 0.0803113041
Now applied the formula which is given below
= -FV(RATE;NPER;PMT;PV)
After applying the above formula, the future value is $501,049.37
1/5 thats the answer
i hope this help you
y2-y1 -8-24 -32 -1*2*2*2*4 16
M= --------- = ----------- = ------ = --------------- = ------
x2-x1 16-(-18) -2 -1*2 1