This cash flow is a perpetuity. To find the present value of perpetuity, we use the equation of
Pv=C÷r
Pv=39,000÷0.058
Pv=672,413.79
Answer:
7.5
Step-by-step explanation:
Answer:
The monthly fee would be $23
Step-by-step explanation:
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Answer:
The investment after 5 years is $ 662.45.
Step-by-step explanation:
Principal, P = $ 600
Time, t = 5 years
Rate of interest, R = 2 %
Time , t = 5 years
The amount after the time 5 years is

So, the investment after 5 years is $ 662.45.