Mathematics: quarterly withdrawls of $650 for 6 years; interest rate is 4.5% compounded quarterly. find the amount necessary to fund the given withdrawls.

quarterly withdrawls of $650 for 6 years; interest

jrynokenna

02.01.2022

The amount needed to finance this level of withdrawals is $ 9422.06

Step-by-step explanation:

For a fixed amount periodically withdrawn, during periods, with an interest rate , there is a present value of:

$V_{p} = A [\frac{1- (1 + i) ^{- n}}{i}]$ . From where,

$V_{p} = 650 [\frac{1- (1 + 0.045)^{-24}}{0.045}] = 9422.06$

The amount needed to finance this level of withdrawals is $ 9422.0609

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hgiaculliozdjov

12.01.2020

$66.25\ ounces$

Step-by-step explanation:

Let

x-------> quantity contained in the new bottle

we know that

$100\%+25\%=125\%=125/100=1.25$

$x=1.25(53)\\x=66.25\ ounces$

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