Answer:
The PV of an ordinary annuity with 10 payments of $2,700 if the appropriate interest rate is 5.5% is $20,352.
Step-by-step explanation:
P = PMT [(1 - (1 / (1 + r)
)) / r]
= 2,700 [(1 - (1 / (1 + 0.055)
)) / 0.05]
= 2,700 [(1 - (1 / (1 + 0.055))) / 0.05]
= 2,700 [(1 - (1 / (1.708)) / 0.05]
= 2,700 [(1 - 0.58)) / 0.05]
= 2,700 [(0.41457) / 0.05]
= 2,700(7.53)
=$ 20,352
Answer:
i think it's the first option.
One way in which to do this problem would involve subtracting 5 from 7 (result: 2) and then subtracting 3/5 from 8/9.
To subtract 3/5 from 8/9, you'd need to find the lowest common denominator (LCD) of 3/5 and 8/9, convert both fractions to have this LCD, and then subtract.
The LCD is (5)(9)=45. Then 8/9 and 3/5 become 40/45 and 27/45.
Subtracting 27/45 from 40/45 results in the fraction 13/45.
Then the full solution is 2 13/45.
You could also do this problem by converting 7 8/9 and 5 3/5 into improper fractions:
71/9 - 28/5. Again, the LCD is 45. Can you rewrite both fractions with 45 as the common denominator and then perform the subtraction?
Answer:
56
Step-by-step explanation:
29+ 27=56
