What is a word problem for 8 multiplied by (-0.25)

Suppose you have to work for somebody, and you have a deadline.

Once the deadline has expired, you get paid 0.25 dollars less for each extra day.

So, if you're 8 days late, you have a loss of dollars

First Method,

Solve the given question by using the formula,

Future value= Annuity((1+i)ⁿ-1 / i)

F= A((1+i)ⁿ-1 / i)

where

i=5.6%=0.056

A=annuity= $5,000

n= no. of years = 35

By putting the values,

F= ($5,000)( ((1+0.056)³⁵-1 )/ 0.056)

= $ 511914.48

b is the correct answer.

Second Method.

By using factor table,

Annual Payment by Marine=A= $5,000

Amount of interest she earns =i= 5.6%

We have to determine the future value of account after 35 years.

n=35

F=A(F/A, i%, n)

By putting the values,

F=($5,000)(F/A, 5.6%, 35)

From the economics factor table,

we find by interpolation that at 5.6% for 35 years value of F/A = 102.989

F=($5,000)(102.989)

= $514945