Which of the above numbers is the value of expression equal to?
2 answers:
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Answer:
The PV of an ordinary annuity with 10 payments of $2,700 if the appropriate interest rate is 5.5% is $20,352.
Step-by-step explanation:
P = PMT [(1 - (1 / (1 + r))) / r]
= 2,700 [(1 - (1 / (1 + 0.055))) / 0.05]
= 2,700 [(1 - (1 / (1 + 0.055))) / 0.05]
= 2,700 [(1 - (1 / (1.708)) / 0.05]
= 2,700 [(1 - 0.58)) / 0.05]
= 2,700 [(0.41457) / 0.05]
= 2,700(7.53)
=$ 20,352
if you isolate y in the top equation to get y=5x+6 then you can substiture y for 5x+6 in the bottom equation because thats what y equals
as of now you have -3x+6(5x+6)=-12 but if you use the distrubite property you would get -3x+30x+36=-12
then if you subtract 36 from both sides you would get -3x+30x=-48 then combine like terms to get 27x=-48 then divide both sides by 27 to get or x≈1.8