4 years ago

An account earns annual simple interest. find the balance of the account.

Mathematics

1 answer:

I am Lyosha [343]4 years ago

3 0

y=2000(1+.09^2)^1/2

y=2000(1.09^2)1/2

y=2000(1.1881)^1/2

y=2000(1.09)

y=$2180

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Here is the required formula to find the present value of annuity:

We can find the present value of annuity:

$PV = P + P (\frac{1-(1+r)^{-(n-1)} }{r})$

Here:

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n = represents the number of number of periods

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$PV = 50,000 + 50,5000 (\frac{1-(1+0.11)^{-(10-1)} }{0.11})$

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Keywords: discount rate, present value of annuity

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