Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 4.5%/year compounded monthly. if the future value of the annuity after 14 years is $50,000, what was the size of each payment? (round your answer to the nearest cent.)

each payment = $214.20

Step-by-step explanation:

For ordinary annuity,

FVOA = PMT x [{(1+r/m)^(n*m)} - 1/(r/m)]

Here, FVOA = $50,000

year, n = 14

Since the interest will be paid monthly, m = 12

interest rate, r = 4.5% = 0.045

PMT = ?

Putting all the values into the ordinary annuity formula,

FVOA = PMT x [{(1+r/m)^(n*m)} - 1/(r/m)]

$50,000 = PMT x [{(1+0.045/12) ^ (14*12)} - 1/(0.045/12)]

or, $50,000 = PMT x [{(1+0.045/12) ^ (14*12)} - 1/(0.045/12)]

or, $50,000 = PMT x [(1.8754 - 1)/0.00375]

or, $50,000 = PMT x [(1.8754 - 1)/0.00375]

or, $50,000 = PMT x 233.4399

or, PMT = $50,000/233.4399

PMT = $214.19

or, monthly payment will be $214.20 (Nearest cent)

The answer to your question is 2, 1/2, 1, 2

Step-by-step explanation:

a) 3² 4³ 2⁻¹ / (3 4)² = (3²)(4²) 4 (2⁻¹) / (3 4)² = (3  4)² 2² 2⁻¹ / (3  4)² = 2

b) 2⁴ 3⁵ / (2 3)⁵ = 2⁴ 3⁴ 3 / (2 3)⁵ = (2 3)⁴ 3 / (2 3)⁵ = 3 / 2 3 = 1/2

c) 3⁻³ 2⁻³ 6³ / (4°)² = (3 2)⁻³ 6³ / 1² = 6⁻³ 6³ = 1

d) (3 2)⁴ 3⁻³ / 2³3 = 3⁴2⁴ 3⁻³ / 2³3 = 3 2 / 3 = 2