Assuming that the 4.8% interest rate is an annual interest rate, then, after one year, with a principal of $3,000 we would be able to win 4.8% of $3000:
Divide 144 over 12 to find the monthly earnings:
Therefore, with a principal of $3,000 we would be earning $12 interest in 1 month.
For the earnings on the first month to be equal to $10, then you would have to win $120 annually, and $120 must be 4.8% of the principal. To find which quantity satisfies that 4.8% of it is equal to $120, divide 120 over 4.8%:
Therefore, the principal must be equal to $2500 for you to win $10 on the first month, and it would indeed be correct to say that if you open an account with $3000 you will earn at least $10 interest in 1 month.
Based on the amount the annuity pays per month and the APR, the value of the annuity today is $133,349.85.
<h3>What is the present value of the annuity?</h3>
First, find the present value of the annuity at 5 years:
= 1,850 x present value interest factor of annuity, 60 months, 8/12%
= 1,850 x 49.32
= $91,242
Then find the present value of the annuity from 5 years till date:
= (1,850 x present value interest factor of annuity, 60 months, 12/12%) + ( 91,242) / (1 + 1%)⁶⁰)
= (1,850 x 44.955) + ( 91,242) / (1 + 1%)⁶⁰)
= $133,349.85
Find out more on the present value of annuities at brainly.com/question/24097261.
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I don’t know how to explain but I can work out the correct ans
To find how much is needed for one person
280/4=70
For 10 person:70*10=700
Answer:
300000
Step-by-step explanation:
Three hundred thousand
Step-by-step explanation:
It is 64*0.32=20.48 minutes or 20.5 minutes.
