Answer: the amount of the annuity is $501000
Step-by-step explanation:
We would apply the future value which is expressed as
FV = C × [{(1 + r)^n - 1}/r]
Where
C represents the yearly payments.
FV represents the amount of money
in your account at the end of 25 years.
r represents the annual rate.
n represents number of years or period.
From the information given,
r = 4% = 4/100 = 0.04
C = $12000
n = 75 - 50 = 25
Therefore,
FV = 12000 × [{(1 + 0.04)^25 - 1}/0.04]
FV = 12000 × [{2.67 - 1}/0.04]
FV = 12000 × 41.75
FV = $501000
Yep he or she is right have a nice day
Answer:
111.6
Explanation:
6 * 3 = 18
18 * 6.2 = 111.6
Answer:
The answer of 10 racks would be 199.1. If this didn't help I'm sorry. Good luck on whatever assignment you are doing.
Step-by-step explanation: