1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Molodets [167]
3 years ago
13

Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 2.5%/year compounde

d monthly. If the future value of the annuity after 10 years is $60,000, what was the size of each payment? (Round your answer to the nearest cent.) $
Mathematics
1 answer:
Kisachek [45]3 years ago
6 0

Answer:

Monthly payment= $440.71

Step-by-step explanation:

Giving the following information:

Mothly interest rate (i)= 0.025/12= 0.00208

Number of periods (n)= 12*10= 120 months

Future Value (FV)= $60,000

<u>To calculate the monthly payment, we need to use the following formula:</u>

Monthly payment= (FV*i) / [(1+i)^(n) - 1]

Monthly payment= (60,000*0.00208) / [(1.00208^120) - 1]

Monthly payment= $440.71

You might be interested in
The legs of a right triangle measure 4 and 6 inches. The area of the triangle is
liraira [26]
Area of a right triangle = .5 * leg1 * leg2
Area = .5* 24
Area = 12 square inches


7 0
4 years ago
Read 2 more answers
Can anyone please help me :)
Dovator [93]

Answer:

40^14 over 4^5 then divide 40 by 4 and 14-5 which would be 10^9

Step-by-step explanation:

i think, im not positive but you multiply the whole numbers and add the exponents then you can simplify the numerator and denominator. but you dont  divide the numerator exponets by the 5, you just sutract. if you want i can explain it a lil better in the comments

7 0
3 years ago
What is the perimeter and area of the shape given?
anygoal [31]

The perimeter of the given shape is 63.50 units and its area is 170.625 square units.

Step-by-step explanation:

Step 1:

First, we need to determine the distance between each of the points in the shape ABCDEFGH.

There are vertical lines and horizontal lines. The distances between vertical lines are found by calculating the difference in y values while for horizontal lines, the distances are found by calculating the difference between the x values.

Step 2:

Distance of line AB, 15 - 4.5 = 10.5,

Distance of line BC, 14 - 8 = 6,

Distance of line CD, 15 - 10 = 5,

Distance of line DE, 8 - 3 = 5,

Distance of line EF, 15 - 10 = 5,

Distance of line FG, 3 - (-2.25) = 5.25,

Distance of line GH, 15 - 4.5 = 10.5 and

Distance of line AH, 14 - (-2.25) = 16.25.

Step 3;

The area of ABCDEFGH = The area of ABGH - the area of CDEF.

The area of ABGH = Length × Width = AH × AB = 16.25 × 10.5 = 170.625 square units.

The area of CDEF = Length × Width = CD × DE = 5 × 5 = 25 square units.

The area of ABCDEFGH = 170.625 - 25 = 145.625 square units.

Step 4:

The perimeter of shape ABCDEFGH is just the sum of all its lines.

Perimeter of ABCDEFGH = 10.5 + 6 + 5 + 5 + 5 + 5.25 + 10.5 + 16.25 = 63.50 units.

7 0
4 years ago
question: The chart below shows the number of tickets to the annual teachers vs. students basketball game. How many students sol
melomori [17]

Answer:

c 25

Step-by-step explanation:

3 0
3 years ago
Read 2 more answers
Solve 1/4 divided by 3
zysi [14]

The anwser is 0.083 a bunch of threes follow but the aren't important all you need to do is round which that should be rounded enough.

6 0
3 years ago
Read 2 more answers
Other questions:
  • What is 32% out of 85
    11·1 answer
  • Simplify the expression: (k − 4)(4)
    6·2 answers
  • Before agreeing to purchase a large order of polyethylene sheaths for a particular type of high-pressure oil-filled submarine po
    10·1 answer
  • What is the equation of the following graph in vertex form?
    8·2 answers
  • Round the fraction to the nearest 1/2. 6/7<br><br>A.0<br>B.1/2<br>C.1
    9·1 answer
  • Which of the following terms correctly describe the object below. check all that apply.
    6·2 answers
  • (9x+5)-(6x-8) please help.​
    6·2 answers
  • 4x^2+5y^2=41<br> 3x^2-4y^2=23
    14·1 answer
  • Can someone help on 9-11 given Brainly
    6·1 answer
  • Jade buys 4 books that cost the same amount of money. she spends $50.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!