How much do you need to invest every month in an annuity to reach a goal of $25,000 at the end of 5 years, if compounding is

done every month and the annual interest rate is 4%. Round up

to the next penny.

A=25000 is the future value. P the value that we need to invest. r= 0.04 represent the interest rate in fraction. n = 12 represent the number of times that the rate is compounded in a year. t = 5 years.

If we solve for the value of P we got:

And replacing we got:

And rounded to the nesrest penny we need to invest $20475.08 in order to have after 5 years $25000

Step-by-step explanation:

For this case we can use the future value with compound interest given by:

Where:

A=25000 is the future value. P the value that we need to invest. r= 0.04 represent the interest rate in fraction. n = 12 represent the number of times that the rate is compounded in a year. t = 5 years.

If we solve for the value of P we got:

And replacing we got:

And rounded to the nesrest penny we need to invest $20475.08 in order to have after 5 years $25000

i did it myself and i got 4.2 (b) hope its right

step-by-step explanation:

y -5 = (-1/4)(x + 8)

step-by-step explanation: