1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Law Incorporation [45]
3 years ago
15

Google has just purchased your website that reviews GPS systems. You made a profit of $65,000. You would like to invest the $65,

000 into an account that pays you an annual compounded interest rate of 5.5%. You want to make annual withdrawals over the next 10 years such that by the end of this 10 year period, the amount remaining in the account will be zero dollars. Determine, from the given information, the amount of the annual withdrawals. Round your answer to the nearest cent.
a.$6,500
b.$7,023.45
c.$7,251.31
d.$8,623.40
Mathematics
2 answers:
katen-ka-za [31]3 years ago
8 0

Answer: ITs D


Step-by-step explanation:


d1i1m1o1n [39]3 years ago
6 0
Hi there
The formula of the present value of annuity ordinary is
Pv=pmt [(1-(1+r)^(-n))÷r]
So we need to solve for pmt (the amount of the annual withdrawals)
PMT=pv÷ [(1-(1+r)^(-n))÷r]
Pv present value 65000
R interest rate 0.055
N time 10 years
PMT=65,000÷((1−(1+0.055)^(
−10))÷(0.055))
=8,623.40....answer

Hope it helps
You might be interested in
Hey plz anyone inbox me ​
Scilla [17]

Answer:

Hi

Step-by-step explanation:

7 0
3 years ago
Read 2 more answers
Below the function h (x) ang g (x) are graphes. At which values of x is true that h (x) > g (x)? Select all that apply.
rodikova [14]

Answer:

25

Step-by-step explanation:

5 0
2 years ago
Write the words as decimals
cestrela7 [59]

8. 2,164.8

9. 304.07

10. $421.37

I hope this helps!!!

5 0
3 years ago
Read 2 more answers
If xy + 12 = 6x + 7, find y if x =5.
Igoryamba

Answer: look at the picture

Step-by-step explanation: Hope this help :D

4 0
3 years ago
Read 2 more answers
Lisa spends 1/4 of her earnings on rent and 1/5 of her earnings on food. Let m stand to
Zarrin [17]

Answer:

Step-by-step explanation:

Let her total earnings be m

Rent = 1/4m

Food = 1/5m

Amount left = m - 1/4m - 1/5m

Amount left = (20m - 5m - 4m)/20

Amount left = 11m/20

4 0
3 years ago
Other questions:
  • Give one example of when you would use the friendly numbers strategy to substract
    5·1 answer
  • Find two numbers with a sum of 20 and a difference of 14. question 13 options: 2 and 16 3 and 17 –3 and –17 4 and 18
    12·2 answers
  • According to rounding rules for addition, the sum of 27.1, 34.538, and 37.68 is ____.
    9·2 answers
  • Can i have help soon please?
    13·1 answer
  • Two doctors is what percent of 25 doctors
    13·1 answer
  • You are randomly picking a number between 1 and 20, inclusive. What is the probability of selecting a
    13·2 answers
  • Olive can read 5 pages of her book in 30 minutes at what unit is olive reading
    13·1 answer
  • Aubree took a taxi from her house to the airport. The taxi company charged a pick-up
    8·1 answer
  • PHONE CARDS You purchase a 300 minute phone card. The function
    6·1 answer
  • -21 = 4x + 7 <br> It's those 2 step equations please explain how to do it thank you.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!