
in short, we can change any percent formatted number to a decimal or fraction formatted one by simply dividing it by 100.
The formula is
V (t)=V0 (1-r)^t
V (t)?
V0 1000
R 0.05
T 5 years
V (5)=1,000×(1−0.05)^(5)=773.78
Beach Mark is a multiplication to remember
Answer:
An ordinary annuity is a series of equal payments made at the end of consecutive periods over a fixed length of time. The opposite of an ordinary annuity is an annuity due, in which payments are made at the beginning of each period.
Step-by-step explanation: