Based on the information, Christian would have $5525.5 of an annuity.
<h3>How to calculate the annuity?</h3>
According to the given information, the number of coffees per week is 3 then, per month is 3x4 = 12
Each coffee is $4.5. Then monthly expenditure for coffees is 12 x 4.5 = $54
Rate of interest r = 1.6% = 1.6/100 = 0.016 and for monthly compounding r = 0.016/12 = 0.00133
n = number of payments = 8 x 12 = 96
We can use the formula for finding the future value as below
FV = C x [ ( 1 + r )n-1 ] / ( r )
FV = 54 x [ ( 1 + 0.00133 )96 – 1 ] / (0.00133)
= 54 x [ (1.13609 - 1)] / (0.00133)
= 54 x 0.13609 / (0.00133)
= 54 x 102.3233
= 5525.5
Therefore Christian would have $5525.5 of the annuity.
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Answer: 104
Step-by-step explanation:
For what value of B is the trigonometric function considered an odd function? y=cosB(x-c)
1/4
Answer:
See explanation
Step-by-step explanation:
Consider the expression
First, factor it:
Note that
Then
This shows that number 100 is a factor of the expression and, therefore, this expression is divisible by 100.
Words that came from the same ancestral language and originated from the same word are called COGNATE WORDS.
In linguistics, cognates are words that have a common etymological origin. These are words in two languages that share a similar meaning, spelling, and pronunciation. For an instance, English words have lots of related words in Spanish.