John is 30 years old. He will receive two payments of $2500 each. The first payment will be an unknown number of years in the future. The second payment will be five years after the first payment. At an annual effective interest rate of I=5%, the present value of the two payments is $2606. Determine at what age John will receive the second payment.

16 years

Step-by-step explanation:

Let us assume that he would received the first payment after t years

So

The following formula should be used

PV = P ÷ (1 + r)^t + P ÷ (1 + r)^t+5

$2,606 = $2,500 ÷ (1 + 0.05)^t + $2,500 ÷ (1 + 0.05)^t + 5

$2,606 = $2,500 ÷ 1.05^t (1 + 1 ÷ (1.05)^5)

1.05^t = $2,500 ÷ $2,606 (1.7835) = 1.71098

t = ln(1.71098) ÷ ln(1.05)

= 11

Therefore he would be received the second payment after

= 11 + 5

= 16 years

the range is 19

step-by-step explanation:

the range is biggest number minus the smallest, so in this case it would be

41 - 22 = 19

complete the steps to find the area of the trapezoid.

area of rectangle = 256   square units

area of triangle 1 = 24  square units

area of triangle 2 = 16  square units

area of triangle 3 =   96 square units

area of trapezoid = 120  square units

step-by-step explanation: