50 points but please give a helpful answer <3
1 answer:
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AWNSER: B or 54
Hope this helps and Happy Friday!
Hope this helps and Happy Friday!
Answer:
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It take a few minutes to solve your question.
All you have to do for this is follow the midpoint formula.
Let me know if the picture is unclear and I'll type it out for you.
Let me know if the picture is unclear and I'll type it out for you.
Hmm if I'm not mistaken, is just an "ordinary" annuity, thus
![\bf \qquad \qquad \textit{Future Value of an ordinary annuity} \\\\ A=pymnt\left[ \cfrac{\left( 1+\frac{r}{n} \right)^{nt}-1}{\frac{r}{n}} \right] \\\\\\](https://tex.z-dn.net/?f=%5Cbf%20%5Cqquad%20%5Cqquad%20%5Ctextit%7BFuture%20Value%20of%20an%20ordinary%20annuity%7D%0A%5C%5C%5C%5C%0AA%3Dpymnt%5Cleft%5B%20%5Ccfrac%7B%5Cleft%28%201%2B%5Cfrac%7Br%7D%7Bn%7D%20%5Cright%29%5E%7Bnt%7D-1%7D%7B%5Cfrac%7Br%7D%7Bn%7D%7D%20%5Cright%5D%0A%5C%5C%5C%5C%5C%5C)
![\bf \begin{cases} A= \begin{array}{llll} \textit{original amount}\\ \textit{already compounded} \end{array} & \begin{array}{llll} \end{array}\\ pymnt=\textit{periodic payments}\to &400\\ r=rate\to 10\%\to \frac{10}{100}\to &0.1\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{annually, so once} \end{array}\to &1\\ t=years\to &14 \end{cases} \\\\\\ A=400\left[ \cfrac{\left( 1+\frac{0.1}{1} \right)^{1\cdot 14}-1}{\frac{0.1}{1}} \right] ](https://tex.z-dn.net/?f=%5Cbf%20%5Cbegin%7Bcases%7D%0AA%3D%0A%5Cbegin%7Barray%7D%7Bllll%7D%0A%5Ctextit%7Boriginal%20amount%7D%5C%5C%0A%5Ctextit%7Balready%20compounded%7D%0A%5Cend%7Barray%7D%20%26%0A%5Cbegin%7Barray%7D%7Bllll%7D%0A%0A%5Cend%7Barray%7D%5C%5C%0Apymnt%3D%5Ctextit%7Bperiodic%20payments%7D%5Cto%20%26400%5C%5C%0Ar%3Drate%5Cto%2010%5C%25%5Cto%20%5Cfrac%7B10%7D%7B100%7D%5Cto%20%260.1%5C%5C%0An%3D%0A%5Cbegin%7Barray%7D%7Bllll%7D%0A%5Ctextit%7Btimes%20it%20compounds%20per%20year%7D%5C%5C%0A%5Ctextit%7Bannually%2C%20so%20once%7D%0A%5Cend%7Barray%7D%5Cto%20%261%5C%5C%0A%0At%3Dyears%5Cto%20%2614%0A%5Cend%7Bcases%7D%0A%5C%5C%5C%5C%5C%5C%0AA%3D400%5Cleft%5B%20%5Ccfrac%7B%5Cleft%28%201%2B%5Cfrac%7B0.1%7D%7B1%7D%20%5Cright%29%5E%7B1%5Ccdot%2014%7D-1%7D%7B%5Cfrac%7B0.1%7D%7B1%7D%7D%20%5Cright%5D%0A)