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
Lynna [10]
3 years ago
6

Find the accumulated amount of the annuity. (Round your answer to the nearest cent.) $1000 monthly at 4.6% for 20 years.

Mathematics
1 answer:
pantera1 [17]3 years ago
8 0

Answer:

Accumulated amount will be $2504.90.

Step-by-step explanation:

Formula that represents the accumulated amount after t years is

A = A_{0}(1+\frac{r}{n})^{nt}

Where A = Accumulated amount

A_{0} = Initial amount

r = rate of interest

n = number of times initial amount compounded in a year

t = duration of investment in years

Now the values given in this question are

A_{0} = $1000

n = 12

r = 4.6% = 0.046

t = 20 years

By putting values in the formula

A = 1000(1+\frac{0.046}{12})^{240}

  = 1000(1+0.003833)^{240}

  = 1000(1.003833)^{240}

  = 1000×2.50488

  = 2504.88 ≈ $2504.90

Therefore, accumulated amount will be $2504.90.

You might be interested in
sara received 73 votes in the school election. Ben received 25 votes fewer than Sara. How many students Voted?
Anna007 [38]
To find out how many students voted, you just add the 2 numbers up and you'll get 98. So 98 students voted.
3 0
3 years ago
Find the size of one interior angle of a regular pentagon
barxatty [35]

Answer:

The measure of one interior angle of a regular pentagon is 108 degrees.

Step-by-step explanation:

Use a digital ruler.

3 0
3 years ago
Someone help me please !!
Fantom [35]
Answer: A) 60°
The inscribed angle is half the measure of the arc.
3 0
3 years ago
6 more than a number w is 2
never [62]

Given a number w, six more than that number is w+6. If you want this result to be 2, you have

w+6=2

Subtract 6 from both sides to get

w = 2-6=-4

3 0
3 years ago
In 1997 there were 31 laptop computers at grove high school. starting in 1998 the school bought 20 more laptop computers at the
Ksenya-84 [330]
We have equation:
t=20x+31
x is number of years after 1997.

To calculate number of laptops in 2005:
x=2005-1997
x=8

t=20*8+31
t=160+31
t=191

In year 2005 school had 191 laptops.
7 0
3 years ago
Other questions:
  • Forty percent of the players on a soccer team are experienced players. The coach wants to increase this percent. There are 10 pl
    15·1 answer
  • Donald baked 77 cookies in the morning and 83 cookies in the afternoon for 14 days how many total cookies did he bake
    9·2 answers
  • What is the unit rate and rate if 72 ounces in 6 steaks
    12·2 answers
  • What is 700000 divide by 15
    13·2 answers
  • What is the closest whole number?
    11·1 answer
  • Heeeelllpppp
    8·2 answers
  • Hypothesis Testing is the use of statistics to determine the probability that a given claim is true. In Part II of this project,
    5·1 answer
  • Find the value to the nearest tenth
    12·1 answer
  • How can you write 14/8 as a mixed number(HELP PLEASE!!)
    13·2 answers
  • Rasberry Crazy Ants, a species found in wall sockets, cellphones, and television sets are
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!