Answer:
The correct answer is 777.169.56.
Explanation:
According to the scenario, the given data are as follows:
Payment per year (PMT) = $3,000
Time (N) = 40 years
Rate of interest (R)= 8%
So, the future value of the following can be calculated by using the following formula:
Future value = PMT × ![\frac{((1+r)^{n} -1)}{R}](https://tex.z-dn.net/?f=%5Cfrac%7B%28%281%2Br%29%5E%7Bn%7D%20-1%29%7D%7BR%7D)
Now, put the value of the following in the formula. then,
= 3,000 × ![\frac{((1+8/100)^{40} -1)}{8/100}](https://tex.z-dn.net/?f=%5Cfrac%7B%28%281%2B8%2F100%29%5E%7B40%7D%20-1%29%7D%7B8%2F100%7D)
= 3,000 × 259.0565
= 777,169.56
Hence, the value in the account after 40 years will be 777,169.56.
Answer:
$1.07
Explanation:
In this question ,we use the formula which is shown below:
A = P × (1 + r ÷ 100)^n
where,
P = Present value $0.90
A = Future value
rate =3%
number of years = 6
Now put these values to the above formula
So, the value would be equal to
= $0.90 × (1 + 3%)^6
= $0.90 × 1.03^6
= $0.90 + 1.194052
= $1.07
We considered all the items so that the correct dividend can come
Answer:
having fun
Explanation:
thank you have fun I'm stuck on the same one
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