Answer:
$2502.60
Step-by-step explanation:
The formula for the amount of an annuity due is ...
A = P(1 +r/n)((1 +r/n)^(nt) -1)/(r/n)
where P is the monthly payment (100), r is the annual interest rate (.04), n is the number of compoundings per year (12), and t is the number of years (2). Given these numbers, the formula evaluates to ...
A = $100(1.00333333)(1.00333333^24 -1)/0.00333333
= $100(301)(0.08314296)
= $2502.60
_____
This value is confirmed by a financial calculator. The given answer choices all appear to be incorrect. The closest one corresponds to an annual interest rate (APR) of 4.286%, not 4%.
Answer:
it is infinitive solutions because if you do the work you'll find that its infinite solutions...bye rate 1 thx rate more if you think i was wrong just kidding ik im right just say if its helpful ...thx
Step-by-step explanation:
Answer:
No
Step-by-step explanation:
This is not possible for Jane to put the same amount it all depends on how the book fits, how thick it is, how skinny it is and what else is on the shelf.
