The amount she should invest today in the annuity is $455,450.40.
<h3>How much should be invested today?</h3>
The first step is to determine the future value of the monthly annuity.
Future value = monthly payment x annuity factor
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- r = interest rate = 3.6/12 = 0.3%
- n = number of periods : 15 x 12 = 180
Future value : 3250 x [(1.003^180) - 1] / 0.003 = 774,171.92
The second step is to determine the present value of this future annuity:
774, 171.92 / (1.036^15) = $455,450.40
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Answer:
2.29
Step-by-step explanation:
2.95 plus 1.26 is 4.21, and 6.50 minus 4.21 is 2.29.
The answer is false.......
2 by 7 + – is equals to 1 so we can say that x.
x=1-2/7
x=7/7-2/7
x=5/7
Answer:
2
Step-by-step explanation:
