Use the future value formula to find the indicated value.
n=27; i=0.04; pmt=$109; fv=?
fv=

The future value = $1780

Step-by-step explanation:

* Lets explain the formula of the future value

- Future Value of an annuity is used to determine the future value of a

 stream of equal payments.

- The future value of an annuity formula can also be used to determine

  the number of payments, the interest rate, and the amount of the

  recurring payments

- The future value formula is

 where:

# FV = Future Value of the annuity

# PMT= Payment amount  

# i = Annual interest rate  

# n = Number of payments

* Lets solve the problem

- n = 27

- i = 0.04

- PMT = $109

- To find FV lets use the formula above

∵ n = 27 , i = 0.04 , PMT = 109

∴

∴

∴ FV = 1779.92 ≅ 1780

∴ The future value = $1780

answer: given that the roller coaster can accommodate 1600 riders per hour, thus the roller coaster can accomodate 1600 / 60 = 26.67 riders per minute.

given that there are 345 people in the line, the number of minutes it will take for the 345 persons to get into the roller coaster is given by 345 / 26.67 = 12.94 minutes.

therefore, it will take you 12.94 minutes to get to the front of the line.

step-by-step explanation:

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step-by-step explanation: