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3 years ago

If monthly payments are made for 30 years, find the value for n in the following future value ordinary annuity formula.

Mathematics

2 answers:

MatroZZZ [7]3 years ago

3 0

Answer:

Option A is correct, i.e. n = 360.

Step-by-step explanation:

Given the monthly payments are made for 30 years.

We know 1 year = 12 months. It means they paid 12 installments in a year and they paid it for complete 30 years.

So, total installments = 12 installments in a year x 30 years = 360 installments.

Therefore, the value for n in the following future value ordinary annuity formula would be 360.

Hence, option A is correct, i.e. n = 360.

Phantasy [73]3 years ago

3 0

Answer:

(360)

Step-by-step explanation:

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