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3 years ago

14

Which type of annuity typically utilizes mutual funds

1 answer:

Vlada [557]3 years ago

4 0

Answer:
variable annuity typically provides mutual funds

Explanation:
1- Annuity is commonly used financial product among the retirees to get regular income.
2- Annuity usually pays a fixed amount each month
3- variable annuity is different because the amount of funds paid each month varies depending on how the investment performs each month.

Hope this helps :)

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PilotLPTM [1.2K]

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3 years ago

1400 dollars is placed in an account with an annual interest rate of 5.5%. to the nearest year, how long will it take for the ac

olga_2 [115]

It will take 19 years and 6 months for the account value to reach 2900 dollars

Step-by-step explanation:

Given

Principal amount = 1400 dollars

Rate = 5.5 %

Final value = A = 2900

We have to find t

So,

The formula for simple interest is:

$A = P(1+rt)$

Putting values

$2900 = 1400(1+0.055.t)\\\frac{2900}[1400} = 1+0.055t\\2.071 = 1+0.055t\\2.071-1=0.055t\\1.071 =0.055t$

Dividing both sides by 0.055

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Rounding off to nearest tenth

19.5 years

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Keywords: Interest, simple interest

Learn more about interest at:

#LearnwithBrainly

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