To receive monthly payments of $1500 for 20 years, how much would a person have to invest now in an annuity with an annual interest rate of 3.1% to achieve this goal? Round the answer to the nearest dollar.

Answers

Answer 1

Given the possibility of an investment with an annual interest rate of 3.1 %, the person must deposit $ 580645.16 to receive monthly payments of $ 1500 for 20 years.

How to determine the require investment to receive a desired monthly payment

According to this question, the person have decided to invest money to receive a monthly payment, meaning no savings and the adequacy of using the simple interest formula:

g = C · (r/100)     (1)

Where:

C - Invested money, in monetary units.r - Monthly interest rate, in percentage.g - Monthly payment, in monetary units.

If we know that g = 1500 and r = 3.1/12, then the invested money must be:

C = 100 · g/r

C = 100 · [1500/(3.1/12)]

C = 580645.16

Given the possibility of an investment with an annual interest rate of 3.1 %, the person must deposit $ 580645.16 to receive monthly payments of $ 1500 for 20 years.

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Related Questions

jackson bought 3 pounds of candy for $9.60.

What was the price of this candy in cents per pound ?
PLS HELP ITS DU IN 5 MIN !!!!!!!!!!!!!!!!!!!!!!

Answers

Answer:

320 cents per pound

Step-by-step explanation:

so we do 9.60 divided by 3, which is 3.20. So, 3.20 for each pound. Now we need in cents. 3 dollars is 300 cents, plus another 20, so 320 cents. I hope this helped.

What is (f−g)(x) ?



f(x)=x3−3x2+2x−3

g(x)=4x2−5x+7



Enter your answer in the box.

(f−g)(x)=

Answers

Answer:

Step-by-step explanation:

(F-G)(X)=x^4-x^3+2x-6

You roll a number cube. What is the probability it will land on a number greater than 5?

Answers

1 out of 6 chances

Explanation: there’s 6 sides of a cube if you mark them 1-6 there only one side that you can land on that is greater then 5 which is six also if you need it in percent it’s 16.6%

11 12 13
18
A local charity holds a carnival to raise money. In one
activity, participants make a $3 donation for a chance
to spin a wheel that has 10 spaces with the values, 0,
1, 2, 5, and 10. Whatever space it lands on, the
participant wins that value. Let X represent the value of
a random spin. The distribution is given in the table.
Value of a Spin
0
1
2
5
10
Probability
0.4 0.2
0.2
0.1
0.1
20
Which of the following is the correct interpretation of
P(X<5)?

Answers

The correct interpretation of the probability P(X < 5) is; 0.8

How to Solve Probability?

We are given the probability of the spin values are;

Probability of Spin Value of 0 = 0.4

Probability of Spin Value of 1 = 0.2

Probability of Spin Value of 2 = 0.2

Probability of Spin Value of 5 = 0.1

Probability of Spin Value of 10 = 0.1

P(X < 5) simply means the probability of getting a spin value less than 5. Thus;

P(X < 5) = P(0) + P(1) + P(2)

P(X < 5) = 0.4 + 0.2 + 0.2

P(X < 5) = 0.8

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What is 5 over 8 expressed as a percent?

Answers

Answer: 62.5%

Step-by-step explanation:

5/8 = 0.625

0.625 x 100 = 62.5

A rectangular swimming pool is 15 meters long, 14 1/2 meters wide, and 3 1/2 meters deep. What is its volume? in cubic meters

Answers

Answer:

761.25 m³

Step-by-step explanation:

l = 15 , w = 14.5 , h = 3.5

Volume of a rectangular prism is given by the formula :

V = lwh

V = 15 × 14.5 × 3.5

V = 761.25

Units will be m³

I am attaching an image for visual understanding

Hope this helped and brainliest please.

Ms. Banerjee bought a car for $22,500. The amount she paid for her new car was twice the amount she paid for her previous car, which she bought 8 years ago. Which equation shows p, the price in dollars that she paid for her previous car?
22,500 = 2 p
2 (22,500) = p
22,500 = 2 p minus 8
2 (22,500) = p minus 8

Answers

An equation is formed of two equal expressions. The correct option is A.

What is an equation?

An equation is formed when two equal expressions are equated together with the help of an equal sign '='.

Ms. Banerjee bought a car for $22,500. The amount she paid for her new car was twice the amount she paid for her previous car, which she bought 8 years ago. Therefore, the equation shows p, the price in dollars that she paid for her previous car,

Price of new car = 2 (Price of the previous car)

22,500 = 2p

Hence, the correct option is A.

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Answer: a

Step-by-step explanation:

Are these numbers rational or irrational? -7 √10 (square root of 10) √16 (square root of 16) 52% 1.235 > > > > 1. Rational 2. Irrational please answer quickly ​

Answers

Answer:

hope you can understand

What are the domain and range of the function represented by the set of ordered pairs?

{(-6, 12), (-3, -2), (1, 0), (14, -4)}

A. Domain: {-6, -3, 1, 14}
Range: {-4, -2, 0, 12}

B. Domain: -6 ≤ x ≤ 14
Range: -4 ≤ y ≤ 12

C. Domain: {-4, -2, 0, 12}
Range: {-6, -3, 1, 14}

D. Domain: -4 ≤ x ≤ 12
Range: -6 ≤ y ≤ 14

Answers

Answer:

A

Step-by-step explanation:

the domain is the definition of the valid x (input) values.

the range is the definition of the valid y (result) values.

as the function is defined by listing the specific points, the function only consists of individual points and not of connecting lines.

therefore the domain and range cannot be continuous intervals (otherwise the function would suddenly also include points not in the original list).

so, B and D are wrong.

and A is right, because the domain contains the x values, and the range the y values.

Write the standard number.

3.6 * 10^-6​

Answers

Answer:

The answer is 0.0000036.

Step-by-step explanation:

Move the decimal place 6 spaces to the left. I hope this helps! :)

i need help with this question

Answers

8 x 2(to the second power)
2x2=4
8x4=32
8b2 = 32

15 ( y - 4 ) - 2 (y - 9 ) + 5 (y + 6) = 0

Answers

Answer:

y = 2/3

Step-by-step explanation:

Assuming you are looking for "y":

15 * ( y - 4 ) - 2 * (y - 9 ) + 5 * (y + 6) = 0

15y - 60 - 2y + 18 + 5y + 30 = 0

15y - 2y + 5y -60 + 18 + 30 = 0

18y = 60 - 18 - 30

18y = 12

y = 12/18

y = 2/3

Please pick one of the options.

Answers

9880 different possibilities are there in Sally's new combination option second 9880 is correct.

What is permutation and combination?

A permutation is the number of different ways a set can be organized; order matters in permutations, but not in combinations.

We have:

Total unique numbers consists in a Sally locker = 3

From the digits 0 to 39

Total numbers = 40

Apply combination formula:

= C(40, 3)

= 40!/(3!37!)

= 9880

Thus, 9880 different possibilities are there in Sally's new combination option second 9880 is correct.

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At her sisters birthday party Cheyenne thought it would be funny to drink lemonade from a party hat if the radius is 4.8 cm and the height of a hat is 12 cm how many cubic centimeters of lemonade can Cheyenne pour into the hat

Answers

Answer:                             (In ''pi'' terms)

92.16 pi cm^3.

Step-by-step explanation:

Shape of a party hat : conical

Volume of a cone = (1/3)(pi)(r^2)(h)

(pi(1/3)(23.04)(12))cm^3

Therefore, approximately

92.16 pi cm^3.

What is the volume, in cubic meters of the prism below?

Answers

Answer:

1848 Cubic Meters

Step-by-step explanation:

The volume should be (7*24*22)/2

This is because this object is bascally half of a rectangular prism, so we need to divide the whole product by 2 at the end.

7*24*22 = 3696

3696/2 = 1848

What is The converse of p→q

Answers

Answer:

q→p

Step-by-step explanation:

The converse of p→q is q→p.

which means If q ,then p.

Write the geometric sequence in function notation.

Answers

Answer:

d

Step-by-step explanation:

What’s the result of adding these two equations? Please help

Answers

Answer:

u should subract those not add

please help anyone i really need it ​

Answers

Answer:

Median: 21

Eric took the longest

Ed took 18 minutes longer than Mike

Oscar took the shortest amount of time to solve the puzzle

Step-by-step explanation:

The median is the middle amount of the numbers, line them up from smallest to largest and find the number in the middle...the largest number is the person who took the longest...subtract Ed's score (25) from Mike's score (4) to get the answer...and the smallest number is the person who took the shortest amount of time

Write an expression to describe the
situation.
A car travels 50 miles per hour, h. What expression
represents the total distance you've traveled?

Answers

Answer:

m = 50h, where m is the distance traveled in miles

Please I need help ASAP

Answers

Answer: 50 mg

Step-by-step explanation:

Substituting into the half-life formula, we get that

[tex]N(t)=800\left(\frac{1}{2} \right)^{t/25}[/tex]

So, after 100 years,

[tex]N(100)=800\left(\frac{1}{2} \right)^{100/25}=\boxed{50 \text{ mg}}[/tex]

A family plan for a cell phone has a monthly base price of $75 plus $10.99 for each additional family member added beyond the primary account holder. The linear function to model the monthly cost C(x) (in $) of a family for x additional family members added is C(x)=

Answers

The linear equation that models the cost for having x additional family members added is:

c(x) = $75 + $10.99*x

How to get the linear equation?

Here we know that the plan has a fixed price of $75 plus $10.99 for each family member added beyond the primary account holder.

Then if there are x family members added, the cost will be:

$75 + $10.99*x

Then the linear equation that models the cost for having x additional family members added is:

c(x) = $75 + $10.99*x

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Which of the following points is not coplanar with points C, D and E?

Answers

The point R is the point which is not coplanar with points C, D and E.

We need to find the point which is not coplanar with points C, D and E.

What are coplanar points?

The points that lie on the same plane are called coplanar points.

In the given figure there are five planes which are as follows:

BCUD, BRAE, BRAC, BTDE, ACUDE

Now, points C,D and E lie in plane ACUDE.

In the plane ACUDE points A, C, U, D, E and S lies.

From the options point, R is not lining in the same plane as C, D and E lies.

Therefore, the point R is the point which is not coplanar with points C, D and E.

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tn=2(n-1)
Given the formula for the nth term, state the first 5 terms of each sequence.

Answers

Answer:

0, 2, 4, 6, 8

Step-by-step explanation:

substitute 1 for n in first term, 2 for n in second term, 3 for n in third term, 4 for n in fourth term, 5 for n in fifth term

2 (1) -2 = 0 first term

2 (2)-2 = 2 second

2 (3)-2 = 4 third

2 (4)-2 =6 fourth

2 (5)-2 =8 fifth

a. The velocity, v, of an object is moving in a medium at time t is given by

t = √ 30² +50+2 du. Evaluate t.
+

Answers

The value of "t" in the given expression for the velocity of the object moving in the medium is t = u³ + 2.5u² + 2u.

Velocity of the object moving in the medium

The velocity of the object moving in the medium is given as;

t = ∫(3u² + 5u + 2)du

the value of t is obtained by integrating the function as follows;

t = (3u³)/3 + (5u²)/2 + 2u

t = u³ + 2.5u² + 2u

Thus, the value of "t" in the given expression for the velocity of the object moving in the medium is t = u³ + 2.5u² + 2u.

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HELPP PLEASE!!!

Harry is 5 years older than his sister, and the product of their
ages is 84.
Let h represent Harry's age, then h- 5 represents his
sister's age, and h (h-5) = 84 models the situation.
The equation can also be written as h² - 5h = 84.
Rewrite the equation so that it is in the form polynomial = 0.
Enter the polynomial, in standard form, in the box.
= 0

Answers

Answer:

See below

Step-by-step explanation:

h^2 - 5h = 84

h^2 - 5h - 84 = 0

The ________________ measures the spread of the middle 50% of the data set.
A. median
B. range
C. interquartile range
D. mode

Answers

Answer:

C. interquartile range

Step-by-step explanation:

using this to show im right

"The interquartile range (IQR) is the difference between the upper (Q3) and lower (Q1) quartiles, and describes the middle 50% of values when ordered from lowest to highest."

Hope This Helped

Work out the length of
x.
Give your answer rounded to 3 significant figures.

Answers

The triangle is an isosceles right triangle. Then the value of x will be 1.27 cm.

What is a Pythagoras theorem?

The Pythagoras theorem states that the sum of two squares equals the squared of the longest side.

The Pythagoras theorem formula is given as

H² = P² + B²

The right-angle triangle is given below.

The given triangle is an isosceles right triangle.

P = B = x

Then we have

1.8² = x² + x²

2x² = 3.24

 x² = 1.62

   x = 1.27 cm

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Follow the steps below for the following set of data. In your final answer include all of your calculations and all work in steps 1, 2, and 3.

8, 3, 5, 5, 4, 7

Find the median, lower quartile, and upper quartile of the set of data.

Use the median, lower quartile, upper quartile, lowest value, and highest value of the set to construct a box-and-whisker plot on your own sheet of paper.

Use the box-and-whisker plot to find the range and the interquartile range of the set of data.

Answers

The answers to the question are

Median = 5Lower quartile = 4Upper quartile = 7

What is the median?

The median of the data set is gotten by arranging the values in order

3, 4, 5, 5, 7, 8

The median can be gotten by

5 + 5 / 2

= 10/2

Median = 5

What is the lower quartile?

This is the value under which 25 percent of the data are found in the group of data. The lower quartile is 4.

What is the upper quartile?

This is the point from which 75 percent of the data is found when it is in ascending order. The upper quartile is 7.

What is the lowest value

The lowest value in the data set is 3

What is the highest value

The highest value in the data set is 8

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the function f and g are defined follows. f(x)= x+6/x^2-12x+36 g(x) = x+7/x^2-49 for each function, find the domain. write each answer as an interval or union of intervals​

Answers

Domain of f(x) is {x | x ≠ 6} and Domain of g(x) is {x | x ≠ +7 and x ≠ +7}.

How to find the domain of a function?

The domain of a function is the set of all input values that make the function possible.

Now, for f(x) = (x + 6)/(x² - 12x + 36)

To find the domain, we equate the denominator to zero to find the numbers that can't be a domain. Thus;

x² - 12x + 36 = 0

Solving this using quadratic formula gives; x = 6. Thus, domain of f(x) is;

Domain = {x | x ≠ 6}

Now, for g(x) = (x + 7)/(x² - 49)

To find the domain, we equate the denominator to zero to find the numbers that can't be a domain. Thus;

x² - 49 = 0

Solving this using quadratic formula gives; x = +7 or -7. Thus, domain of g(x) is; Domain = {x | x ≠ +7 and x ≠ +7}

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