<em>Answer</em>
<u>0.625</u>
<em>Explanation</em>
5/8=0.625
1 x 0.625= 0.625
(basically the question was "convert 5/8 to a decimal" because 1 times any number is the same number)
<em>hope this helps!</em>
<em>have a great day :)</em>
Answer:
With what?
Step-by-step explanation:
Let the total amount that Sarah deposited be $x
using the annuity formula:
A=P[((1+r)^n-1)/r]
A=future value
r=rate
n=number of years
from the information given:
A=$500000
r=2.75%
n=65-42=23 years
p=$x
thus plugging our values in the formula we get:
500000=x[((1+0.0275)^(23)-1)/(0.0275)]
500000=31.50x
x=15,872.04883
She deposited 15,873.04883 per year
The monthly deposit will therefore be:
15873.04883/12=$1322.67
Answer:
Step-by-step explanation:
I am joyous to assist you anytime.
