3 years ago

Please help to solve this

Mathematics

1 answer:

Elden [556K]3 years ago

3 0

Answer:

I can do the top 2

1. a = -11

2. z = 9/2 (or nine over two in word form)

Step-by-step explanation:

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in the following ordinary annuity interest is compounded with each payment and the payment is made at the end of the compounding

stealth61 [152]

Answer: $59313.58

Step-by-step explanation:

We know that formula we use to find the accumulated amount of the annuity ( ordinary annuity interest is compounded ) is given by :-

$FV=A(\frac{(1+\frac{r}{m})^{mt})-1}{\frac{r}{m}})$ , where A is the annuity payment deposit, r is annual interest rate , t is time in years and n is number of periods.

Given : Annuity payment deposit :A= $4500

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No. of periods : m= 1 [∵ its annual]

Time : t= 10 years

Now we get,

$FV=(4500)(\frac{(1+\frac{0.06}{1})^{1\times10})-1}{\frac{0.06}{1}})\\\\\Rightarrow\ FV=(4500)(\frac{(1.06)^{10})-1}{0.06})\\\\\Rightarrow\ FV=(4500)(\frac{0.79084769654}{0.06})\\\\\Rightarrow\ FV=(4500)(13.1807949423)\\\\\Rightarrow\ FV=59313.5772407\approx59313.58 \ \$