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geniusboy [140]
3 years ago
6

The Choi family wants to save money to travel the world. They purchase an annuity with a monthly payment of $65 that earns 4.5%

interest, compounded monthly. Payments will be made at the end of each month. Find the total value of the annuity in 11 years.
Mathematics
2 answers:
Lesechka [4]3 years ago
8 0

Answer:

You can get an idea of how much guaranteed lifetime income a given amount of savings will buy by going to this annuity payment calculator. Today, for example, $100,000 would get a 65-year-old man about $525 a month in lifetime income, while that amount would generate roughly $490 a month for a 65-year-old woman.

marta [7]3 years ago
7 0

Answer: $8966.10

Step-by-step explanation:

The monthly payment with interest is 67.925. Multiply that by 12 for the 12 months in a year. You should get 815.10 as your yearly payment. And finally multiply 815.10 by 11 for the 11 years. You should get 8966.10 as your final answer. I hope this helps!

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Borrowed $250
Fittoniya [83]

Answer:

Total interest paid:

$83.73

Total payments:

$333.73

8 0
2 years ago
X + 5 = 24 whar values can be substituted for x to make the equation true​
levacccp [35]

Answer:

x=19

Step-by-step explanation:

24-5=19

8 0
2 years ago
Read 2 more answers
The following diagram shows part of the graph of the function f(x)= -12x + 26 and g(x) = -(1/5) ^ -x + 2 + 3 what are the soluti
Nina [5.8K]
The answer would be D. For you to find the solution you would need to look at the x from the coordinates.
6 0
2 years ago
2. the height of one solid limestone square pyramid is 24 m. a similar solid limestone square pyramid has a height of 30 m. the
Viktor [21]
A) the scale factor of the smaller pyramid to the larger pyramid in simplest form is 24:30 = 4:5

b) the ratio of the area of the base of the smaller pyramid to the larger pyramid.
From the scale factor, the ratio of the area of the base of the smaller pyramid to the larger pyramid is 4^2 : 5^2 = 16:25

8 0
3 years ago
Help Please!!!!!!! Need Help!!!​
Citrus2011 [14]

Answer:

925

Step-by-step explanation:

In order to solve this summation formula, you need to first understand what it means. The summation symbol is tell you to add the terms in a sequence. Below the summation sign, there is a variable and number; the variable n is the index of summation and the number 1 is the lower limit of summation or the first value of the sequence. The number 25 above the summation sign is the upper limit (so there would be 25 terms, with the first being 1). The polynomial to the right of the summation symbol represents the explicit function for each term. For example, using this, the first term would be (3(1) - 2) and the second (3(2) - 2) and so on. This means the value of that equation is:

(3(1) - 2) + (3(2) - 2) + (3(3) - 2)... + (3(25) - 2)

One way to solve this is to write all 25 of the terms and add them, but since that's tedious, you can solve this by first doing the basic summation of 1 to 25 and then inputting that into the equation:

1 + 2 + 3... + 25 = (25 × 26)/2 (when the first number is one and the rate of change is 1, the sum of the terms in a sequence is (n*(n+1))/2)

= 325

Now, that you know what the sum of the sequence of terms 1 to 25 are, you can multiply this by the constant since if you break up the equation you would be multiplying 3 by 1 then 3 by 2 and so on until 25, or 3 × (1 + 2 + 3... + 25):

3 × 325 = 975

At this point, you just need to add (-2) × 25. You do this because since there are 25 terms, if you subtracted 2 each time, you would subtract 2 twenty-five times:

975 + ((-2) × 25)

= 975 - 50

= 925

3 0
2 years ago
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