I have no idea haha but how’s your guys day going
Answer:
The size of the payment = $628.63
Explanation:
<em>An annuity is a series of equal payment or receipt occurring for certain number of period. </em>
The payment in question is an example of an annuity . We can work back the size of the payment using the present value of the ordinary annuity formula stated below
The Present Value of annuity = A × (1- (1+r)^(-n))/r
A- periodic cash flow,= ? r- monthly rate of interest - 4.25%/12= 0.354%
n- number of period- (71/4×12)= 87.
Let y represent the size of the payment, so we have
47,000 = y × ( 1-1.00354^(-87))/0.00354
47,000 = y× 74.76
y =47,000/74.7656= 628.63
The size of the payment = $628.63
Answer:
The false statement is letter "A": The effect of compounding is great over short time periods, but then it begins to decline as the horizon grows.
Explanation:
Interest on interest or Compound Interest is the money accrued out of an interest rate plus all the interest earned accumulated on a certain period of time. The compound interest can be calculated on a daily, monthly or yearly basis. If the frequency of the compound interest is set in shorter periods of time, it will be more beneficial for the investor.
In that sense, option letter "A" is false since interest on interest does not decline over time but increases.
The minimum amount that Alyssa must <em>earn per month</em> to cover her budget is $4,062.50.
Data and Calculations:
Monthly expenditures = $3,250
Taxes and other deductions = 20% of monthly income
Monthly expenditures in percentage = 80% (1 - 20%)
Minimum income per month = $4,062.50 ($3,250/80%)
Thus, the minimum amount that Alyssa must <em>earn per month</em> to cover her budget is $4,062.50.
Learn more: brainly.com/question/25571450
