ohgeezy
25.01.2020 •
Mathematics
If ms. p wants to withdraw $900 from an account earning 4% average annual interest rate at the start of each year for 7 years, how much must she have in the account today?
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Ответ:
Amount he must have in his account today is $5,617.92
Step-by-step explanation:
Data provided in the question:
Regular withdraw amount = $900
Average annual interest rate, i = 4% = 0.04
Time, n = 7 years
Now,
Present Value =
here,
C = Regular withdraw amount
Thus,
Present Value =
Present Value =
Present Value =
Present Value =
Present Value = 936 × 6.00205
or
Present Value = $5,617.92
Hence,
Amount he must have in his account today is $5,617.92
Ответ: