Mathematics: Sarafina is making monthly payments into an annuity. she wants to have $900 in the fund to buy a new convection range in six months, and the account pays 8.4% annual interest. what are her monthly payments to the account?

Sarafina is making monthly payments into an annuity.

Ответ:

SithLeo

10.01.2022

$\bf \qquad \qquad \textit{Future Value of an ordinary annuity}
\\\\
A=pymnt\left[ \cfrac{\left( 1+\frac{r}{n} \right)^{nt}-1}{\frac{r}{n}} \right]$

$\bf \begin{cases}
A=
\begin{array}{llll}
\textit{accumulated amount}\\
\end{array}\to &
\begin{array}{llll}
900
\end{array}\\
pymnt=\textit{periodic payments}\\
r=rate\to 8.4\%\to \frac{8.4}{100}\to &0.084\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{monthly payments, thus}
\end{array}\to &12\\

t=years\to \frac{6}{12}\to &\frac{1}{2}
\end{cases}
\\\\\\
900=pymnt\left[ \cfrac{\left( 1+\frac{0.084}{12} \right)^{12\cdot \frac{1}{2}}-1}{\frac{0.084}{12}} \right]$

solve for "pymnt"

0,0(0 оценок)

Ответ:

sarah121868

27.03.2020

Mathematics

Four sentences:
1) What you must do is divide the x axis into equal parts.
2) n = 212/5 = 42.4.
3) Each unit of the x axis is worth 42.4. Therefore, you can graph the coordinate -212 at x = -5
4) The y-axis can maintain its magnitut and graph the -4 coordinate in y = -4

0,0(0 оценок)

Sarafina is making monthly payments into an annuity. she wants to have $900 in the fund to buy a new convection range in six months, and the account pays 8.4% annual interest. what are her monthly payments to the account?

Ответ:

Ответ:

Ask your question to the AI advisor

More tips

Answers on questions: Mathematics

Ask an AI advisor a question