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.
Asa has 15 dimes and 32 quarters.
Step-by-step explanation:
Given,
Total coins = 47
Worth of coins = $9.50 = 9.50*100 = 950 cents
1 dime = 10 cents
1 quarter = 25 cents
Let,
Number of dimes = x
Number of quarters = y
According to given statement;
x+y=47 Eqn 1
10x+25y=950 Eqn 2
Multiplying Eqn 1 by 10
Subtracting Eqn 3 from Eqn 2
Dividing both sides by 15
Putting y=32 in Eqn 1
Asa has 15 dimes and 32 quarters.
Keywords: linear equation, elimination method
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