A = P(1+r/n)^<span>(nt)
1,687.30 = P (1+ 0.04/1)^3
1,687.30 = P (1.124864)
P = 1687.30 / </span>1.124864
P = 1500
answer: $1500 <span>was the original amount jeff invested</span>
Answer: Philip can earn back his initial investment in 12.4 years
Step-by-step explanation:
Amount Invested by Philips in period annuity = 800,000
Annual Percentage Rate (APR) = 5.2%
APR compounded monthly for a period of 20 years.
Amount to be received per annuity period = 800,000 * (((1+(0.052/12))^240)*(0.052/12))/(((1+0.052/12))^240)-1)
= 5368.43
Time taken ( in months ) by Philip to earn back his initial investment = 800,000/5368.43 = 149.02 months
Time taken ( in years ) by Philip to earn back his initial investment = 149.02/12 = 12.4 years
Hope it helps.
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Answer:
x<3
Step-by-step explanation:
Answer:
One centimeter is equal to 10 millimeters. It is also equal to 0.1 decimeter and 0.01 meter. One kilometer contains 100,000 centimeters.
Step-by-step explanation:
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Answer:
C
Step-by-step explanation:
The 6 comes from the 24(6*4=24)
The 3 comes from the 12(3*4=12)
The 4 is common