ndoporto ndoporto
  • 12-02-2017
  • Mathematics
contestada

Acme annuities recently offered an annuity that pays 4.7% compound monthly. What equal monthly deposit should be made into this annuity in order to have $92000 in 16 years?

Respuesta :

Аноним Аноним
  • 12-02-2017
Formula for Compound Interest

Amount = Principal * (1 + Rate/100)^Time
A = P * (1 + R/100)^T
P = A/((1 + R/100)^T) = 92000/((1 + 4.7/100)^16) = $44120.5503
Answer Link

Otras preguntas

jack spends 1 3/4 as long on his homework as jill. last week jill spent 6 1/2 hours on her homework. how long did jack spend doing his homework? the week before
“Bins” are the term for data files that have been edited out of digital film True/False
Explain how HIV replicates and how it destroys the immune system.
How many milliliters are in 6.75 liters ?
List locations where karst topography is found in the world
My heart is like an apple‐tree Whose boughs are bent with thick‐set fruit; re-write it using the language of today
Which of the following points lies on the circle whose center is at the origin and whose radius is 10? (-6, 4) ( sq rt 10 , sq rt 10 ) (6, -8)
What is the main function of cellulose in plants?
The tsunami warning system protects coastal areas around the _____.
What's the answer ?????