Mathematics: Suppose you invest $75 a month in an annuity that earns 48% apr compounded monthly. how much money will you have in this account after 3 years?

Suppose you invest $75 a month in an annuity that

Ответ:

Queenbee2304

10.03.2022

Mathematics

The money after 3 years is $5819.8735

Step-by-step explanation:

We are given

monthly payment =$75

so, P=75

annuity that earns 48% APR

so, r=48%

Since, it is compounded monthly

so,

$i=\frac{48}{12} =4$ %

i=0.04

$n=12\times 3=36$

now, we can use annuity formula

$FV=P[\frac{(1+i)^n-1}{i} ]$

where

FV is future value

now, we can plug values

$FV=75[\frac{(1+0.04)^{36}-1}{0.04} ]$

we get

FV=5819.8735

The money after 3 years is $5819.8735

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Ответ:

nevejames07

25.02.2021

Mathematics

Step-by-step explanation:

3x-2y=10

or,x=10+2y/3..eqn1

5x+y=4

or,5(10+2y/3)+y=4

or,50+10y+3y/3=4

or,50+13y=12

or,13y=12-50

or,y=-38/13 ans..

frm eqn1

:x=57/10... ans

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Suppose you invest $75 a month in an annuity that earns 48% apr compounded monthly. how much money will you have in this account after 3 years?

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