If a family spends $12.75 for tickets to the fair and gives the cashier a $20 bill, how much change will be returned?

As part of your retirement plan, you want to set up an annuity in which a regular payment of $35,000 is made at the end of each

Finger [1]

Answer:

Option d)$401,447.24

Step-by-step explanation:

We are given that as part of your retirement plan, you want to set up an annuity in which a regular payment of $35,000 is made at the end of each year at rate of 6% compounded annually for 20 years

So first of all we need to find the future value of annuity using the formula as shown below :

$FV= p\frac{[(1+\frac{r}{n})^{(n)(t)}-1)]}{\frac{r}{n}}$

Here, FV = future value of annuity

p = $35000 (annual deposit)

r is rate = 6% = 0.06

n = number of compounding = 1 ( as we are compounding annually )

t = number of years = 20

So plugging in all the values in the formula , we get

$FV= 35000\frac{[(1+\frac{0.06}{1})^{(1)(20)}-1)]}{\frac{0.06}{1}}$

Simplifying further , we get

$FV= 35000\frac{[(1+0.06)^{20}-1)]}{0.06}$

Plugging in the given values in the calculator , we get

FV = $ 1287495.69

So far we have got the Total amount for annuity , from here we need to use the concept of compound interest and find the principal amount to be deposited to get the required total amount of $ 1287495.69

The formula for compound interest when compounded annually is given by:

$A=P(1+r)^t$

Here A = 1287495.69 (Total amount required)

P = ( principal amount to be deposited to meet the required total amount )

r = 6% = 0.06

t = 20

So plugging in all the known values in the formula , we get

$1287495.69= P(1+0.06)^{20}$

simplifying further, we get

$\frac{1287495.69}{(1.06)^{20}}= P$

so required amount to be deposited is given by :

P = $401,447.24

Hope it was helpful !:)

6 0

3 years ago

Question 12 (1 point)

nadya68 [22]

Answer: 7sqrt(3), 14

Step-by-step explanation:

5 0

3 years ago

Work out an estimate for square root 1.13 + 2.84 x 9.33

Feliz [49]

hi there!

 $\large \rm = \color{brown} 27.6272 \: \\ \tt in \: \: alternate \: \: form \\ \\ \large \tt \color{cyan} \frac{17267}{625} , \color{red}27 \frac{392}{625}$ 

<h2 />

Step-by-step explanation:

 $\tt1.13 + 2.84 \times 9.33$ 

multiply the number

 $\tt \color{green}1.13 + 26.4972$ 

add the number

 $= \tt \color{green}27.6272 \\ \\ \tt \color{pink}or \: \: in \: \: alternate \: \: form \\ \\ \tt \color{purple} \frac{17267}{625} \tt \color{blue} \: , \: 27 \frac{392}{625}$ 

<h2>hope it helps</h2>

#Carryonlearning

<h2 />

6 0

2 years ago

QUICK HELP PLEASE THANKS Find percent notation for 0.28.

rosijanka [135]

Answer:

28%

Step-by-step explanation:

Multiply both numerator and denominator by 100. We do this to find an equivalent fraction having 100 as the denominator. 0.28 × 100100.

= (0.28 × 100) × 1100 = 28100.

Write in percentage notation: 28%

5 0

3 years ago

The resulting figure after undergoing a transformation

vaieri [72.5K]

Answer:

New being?

Step-by-step explanation:

3 0

4 years ago