shimmerandshine1
10.08.2021 •
Mathematics
To receive monthly payments of $1500 for 20 years, how much would a person have to invest now in an annuity with an annual interest rate of 3.1% to achieve this goal? Round the answer to the nearest dollar. Hint: Use PV=P·frac(sup((1+i),n)-1,sup(i(1+i),n)).
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Ответ:
a. 587 * 92 we are rounding these factors to the nearest ten, so 587 becomes 590 and 92 becomes 90. now multiply 590 and 90. 590 * 90 = 53,100; 59 * 9 = 531, and then add on the two zeroes. the following answer of 54,004 is reasonable because it is close to our estimate of 53,100.