Answer:
What is the question to this
Step-by-step explanation:
An=a1+d(n-1)
a1=first term
d=common difference
n=which term
common difference is 5 first term is 2
an=5+2(n-1)
19th term is n=19
a19=5+2(19-1)
a19=5+2(18)
a19=5+36
a19=41
19th term is 41
Based on the amount that Steve Weatherspoon wants to withdraw every year beginning in June 30, 2024, and the interest rate, the balance on June 30th 2023 should be $45,203.
<h3>What should the balance be in 2023?</h3>
The fact that Steve Weatherspoon wants to be able to withdraw a particular amount every year, this makes this amount an annuity.
The value in 2023 would therefore be the present value of the annuity that will then accrue to the required amounts as the years go by.
The present value of an annuity is:
= Annuity amount per year x Present value interest factor of an annuity, 11%, 3 years between 2024 and 2027
Solving gives:
= 13,126.25 x 3.44371
= $45,203
In conclusion, the balance on the fund in 2023 should be $45,203 in order for Steve Weatherspoon to achieve his objectives.
Find out more on the present value of an annuity at brainly.com/question/25792915
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Answer:
Step-by-step explanation:
Based on the given conditions, formulate:
Calculate the product or quotient: 240
get the result: 240
Answer: 240
To find this answer, we had to use the expression 80 * 3, therefore making it the answer.
