Answer:
$102,677.20
Step-by-step explanation:
The present value of an annuity due is determined by the following expression:
Where 'P' is the amount of each payment received, 'r' is the interest rate on the investment and 'n' is the number of yearly payments.
With 20 annual payments of $10,000 at a rate of 8.5%, the present value is:
The present value of your winnings is $102,677.20.
Known facts:
- 50 dollars is the initial amount in the saving account
- 50 dollars is added every week into the savings account.
Variables:
- x: # of weeks
- y: total amount of money in savings
Set equation based on known facts and variables:
y = 50x + 50, 50x is the rate at which it grows depending on
the week and 50 is the initial amount there
Hope that helps!
The product of a non-zero rational and an irrational number is always irrational (2)
Answer:
the 2 is in the hundreds and hundredths place
