Let the total amount that Sarah deposited be $x
using the annuity formula:
A=P[((1+r)^n-1)/r]
A=future value
r=rate
n=number of years
from the information given:
A=$500000
r=2.75%
n=65-42=23 years
p=$x
thus plugging our values in the formula we get:
500000=x[((1+0.0275)^(23)-1)/(0.0275)]
500000=31.50x
x=15,872.04883
She deposited 15,873.04883 per year
The monthly deposit will therefore be:
15873.04883/12=$1322.67
Answer:
Step-by-step explanation:
That'd be the Substitution Property. Substitute -2 for x in x + 8 = 6 and arrive at the true statement 6 = 6.
Subtract the 45 minutes they were eating from 1:45pm since that’s when they arrived. You now have 1:00pm, you now just need to find out how long it is from 10:20 am to 1:00pm. HINT: it’s 2h 40m
