Liz is shipping a package to her friend. The maximum weight of a medium flat-rate box is 20 pounds, including the box which weig
hs 6 ounces. Write
and solve an inequality to describe the possible weight in pounds, w, of the contents that Liz will ship to her friend if she must use a medium flat-rate box. Use the drop-down menus to explain your answer
and solve an inequality to describe the possible weight in pounds, w, of the contents that Liz will ship to her friend if she must use a medium flat-rate box. Use the drop-down menus to explain your answer
1 answer:
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Answer:
Monthly payment is $5970
Step-by-step explanation:
Given : April invested in a lifetime annuity that begins payments at age 65. Her life expectancy is 89. April invested a $1,000,000 into the annuity, which earns 4.4% APR compounded monthly.
To find : what is April's monthly payment amount?
Solution :
Formula of monthly payment
Monthly payment,
Discount factor
Where, Amount = $1,000,000
Rate r= 4.4%=0.044 compounded monthly
Time = 89-65=23 years
Now, put all the values we get,
Monthly payment,
Approximately,monthly payment is $5970