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3 years ago

10

General formula for 6 ; 8 ; 10 ; 12

1 answer:

Mila [183]3 years ago

8 0

Answer:

$an=2n+4$

Step-by-step explanation:

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4 years ago

Read 2 more answers

Suppose you invest $75 a month in an annuity that earns 48% APR compounded monthly. How much money will you have in this account

il63 [147K]

Answer:

The money after 3 years is $5819.8735

Step-by-step explanation:

We are given

monthly payment =$75

so, P=75

annuity that earns 48% APR

so, r=48%

Since, it is compounded monthly

so,

$i=\frac{48}{12} =4$ %

i=0.04

$n=12\times 3=36$

now, we can use annuity formula

$FV=P[\frac{(1+i)^n-1}{i} ]$

where

FV is future value

now, we can plug values

$FV=75[\frac{(1+0.04)^{36}-1}{0.04} ]$

we get

$FV=5819.8735$

The money after 3 years is $5819.8735

4 0

3 years ago