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:
$2.77 per bar sold
Step-by-step explanation:
Hi there!
We're given that selling 9 ice cream bars could make the truck driver $24.93. To find how much he'd make per bar sold, divide $24.93 by 9 ice cream bars:
24.93 ÷ 9 = 2.77
Therefore, the truck driver would make $2.77 per bar sold.
We could also find this answer using the given equation, y=kx.
y=kx
Let y equal the earnings. Let x equal the number of ice cream bars sold. Let k equal how much the driver would make per bar sold.
24.93=k(9)
24.93=9k
x=2.77
I hope this helps!
Y=8/11x has the unit rate greater than that function shown in graph.
The property shown there is the distributive property.
It states that a(b + c) = ab + ac
Or a(b - c) = ab - ac
