3 years ago

Please follow me is there any BTS fan.

Business

1 answer:

Harlamova29_29 [7]3 years ago

5 0

Explanation:

why do you need followers here?

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Muhammad, a 21-year old computer engineer, is opening an individual retirement account (IRA) at a bank. His goal is to accumulat

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The first annual depoisit will be of 3,373.49 dollars

Explanation:

Given the formula for future growing annuity

we need to solve for the yearly payment:

grow rate: 0.04

annual effective rate: 8% compounding semiannually:

$(/1+0.08/2)^2-1 = r_e\\$

r= 0.0816

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n 46

Formula for future value fo an ordinary annuity:

$C_0 \times \frac{(1+r)^n-(1+g)^n}{r-g} = FV$

$C_0 \times \frac{(1+0.0816)^{46}-(1+0.04)^{46}}{0.0816-0.04} = 2,500,000\\C_0 = $3,373.4855$

The first annual depoisit will be of 3,373.49 dollars

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Please follow me is there any BTS fan. ​

Please follow me is there any BTS fan.