Based on the information, Christian would have $5525.5 of an annuity.
<h3>How to calculate the annuity?</h3>
According to the given information, the number of coffees per week is 3 then, per month is 3x4 = 12
Each coffee is $4.5. Then monthly expenditure for coffees is 12 x 4.5 = $54
Rate of interest r = 1.6% = 1.6/100 = 0.016 and for monthly compounding r = 0.016/12 = 0.00133
n = number of payments = 8 x 12 = 96
We can use the formula for finding the future value as below
FV = C x [ ( 1 + r )n-1 ] / ( r )
FV = 54 x [ ( 1 + 0.00133 )96 – 1 ] / (0.00133)
= 54 x [ (1.13609 - 1)] / (0.00133)
= 54 x 0.13609 / (0.00133)
= 54 x 102.3233
= 5525.5
Therefore Christian would have $5525.5 of the annuity.
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Answer:
y = (1/4)x
Step-by-step explanation:
"Direct variation" here signifies y = kx, where k is the constant of proportionality.
Then y = kx. Here we are to find k using the info that x = 12 and y = 3:
3 = k(12), or
k = 3/12, or k = 1/4
Then y = (1/4)x
Find the median and mean of the data set below: 6 , 37 , 2 , 38 , 1 , 3 , 46 6,37,2,38,1,3,46
IgorLugansk [536]
Answer:
Mean: 19
Median: 6
Step-by-step explanation:
Answer:
11 terms.
Step-by-step explanation:
The exponent indicates how many time you will multiply 7 by itself.
Answer: 2/25
Step-by-step explanation: Since we are replacing the marbles, these two events are independent which means that the outcome of the first does not affect the outcome of the second.
First find the probability of selecting a blue marble.
There are 2 favorable outcomes, the blue marbles,
and 10 possible outcomes, all the marbles in the bag.
So the probability of selecting a blue marble is 2/10 or 1/5.
<em>Always reduce when finding probability</em>
<em></em>
Now we find the probability of selecting a green marble.
There are 4 green marbles and 10 total so the probability of
selecting a green marble is 4/10 or 2/5.
Now we multiply the probabilities.
So we have 1/5 x 2/5 or 2/25.
