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3 years ago

4. As part of your retirement planning, you purchase an annuity that pays 4 % annual

Mathematics

1 answer:

padilas [110]3 years ago

3 0

9514 1404 393

Answer:

a. $19817.10

b. $21998.87

Step-by-step explanation:

The formula for the future value of an annuity with payments "A" and interest at rate r compounded quarterly for t years is ...

FV = A((1 +r/4)^(4t) -1)/(r/4)

The attachment shows this evaluated for ...

a. A = 900, r = 0.04, t = 5. FV = $19817.10

b. A = 450, r - 0.04, t = 10. FV = 21,998.87

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We're no strangers to love

You know the rules and so do I

A full commitment's what I'm thinking of

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I just want to tell you how I'm feeling

Gotta make you understand

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Your heart's been aching but you're too shy to say it

Inside we both know what's been going on

We know the game and we're gonna play it

And if you ask me how I'm feeling

Don't tell me you're too blind to see

Never gonna give you up, never gonna let you down

Never gonna run around and desert you

Never gonna make you cry, never gonna say goodbye

Never gonna tell a lie and hurt you

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