Mathematics, 25.11.2019 05:31 victoriahuntley12148
Sarafina is making monthly payments into an annuity. she wants to have $900 in the fund to buy a new convection range in six months, and the account pays 8.4% annual interest. what are her monthly payments to the account?
Answers: 2
![\bf \qquad \qquad \textit{Future Value of an ordinary annuity} \\\\ A=pymnt\left[ \cfrac{\left( 1+\frac{r}{n} \right)^{nt}-1}{\frac{r}{n}} \right]](/tpl/images/0389/5327/907a5.png)
![\bf \begin{cases} A= \begin{array}{llll} \textit{accumulated amount}\\ \end{array}\to & \begin{array}{llll} 900 \end{array}\\ pymnt=\textit{periodic payments}\\ r=rate\to 8.4\%\to \frac{8.4}{100}\to &0.084\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{monthly payments, thus} \end{array}\to &12\\ t=years\to \frac{6}{12}\to &\frac{1}{2} \end{cases} \\\\\\ 900=pymnt\left[ \cfrac{\left( 1+\frac{0.084}{12} \right)^{12\cdot \frac{1}{2}}-1}{\frac{0.084}{12}} \right]](/tpl/images/0389/5327/a81cf.png)
Another question on Mathematics
Mathematics, 21.06.2019 15:00
How many different triangles can be constructed with the angle measurements of 134° 10° and 36° ?
Answers: 3
Mathematics, 21.06.2019 16:40
You have 3 boxes, one "strawberries"; one "mentos" and one "mixed".but you know that all the labels are in incorrect order .how do you know witch is witch?
Answers: 1
Mathematics, 21.06.2019 17:30
Astore sells two types of radios. one type sells $87 and the other for $119. if 25 were sold and the sales were $2495, how many of the $87 radios were sold a) 5 b) 20 c) 15 d)10
Answers: 2
Mathematics, 21.06.2019 19:20
Will give brainliest immeadeately true or false: the origin woud be included in the solution set for the inequality: y< 2x-5
Answers: 1
You know the right answer?
Sarafina is making monthly payments into an annuity. she wants to have $900 in the fund to buy a new...
Questions
Health, 20.02.2021 15:00
Mathematics, 20.02.2021 15:00
Mathematics, 20.02.2021 15:00
Mathematics, 20.02.2021 15:00
Mathematics, 20.02.2021 15:00
History, 20.02.2021 15:00
Computers and Technology, 20.02.2021 15:00
Mathematics, 20.02.2021 15:00
History, 20.02.2021 15:10
History, 20.02.2021 15:10
Mathematics, 20.02.2021 15:10
Mathematics, 20.02.2021 15:10
Chemistry, 20.02.2021 15:10
Mathematics, 20.02.2021 15:10
Computers and Technology, 20.02.2021 15:10
