Answer:
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Step-by-step explanation:
Answer:
Step-by-step explanation: Factors of 18: The square root of 18 is 4.2426, rounded down to the closest whole number is 4. Testing the integer values 1 through 4 for division into 18 with a 0 remainder we get these factor pairs: (1 and 18), (2 and 9), (3 and 6). The factors of 18 are 1, 2, 3, 6, 9, 18.
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The Future Value of an Annuity is given by:FV = P [(1 + r)^n -1 / r] where the periodic payment P = $45
N = number of period = 360. And r = rate per period = (0.08/12) = 0.0066667
So we have 45[((1 + 0.0066667)^(360) - 1)/ 0.0066667] = $16, 405. 27
