951/3 i dont under stand
2 answers:
<em>The</em><em> </em><em>right</em><em> answer</em><em> is</em><em> </em><em>3</em><em>1</em><em>7</em>
<em>pl</em><em>ease</em><em> see</em><em> the</em><em> attached</em><em> picture</em><em> for</em><em> full</em><em> solution</em><em>.</em>
<em>hope</em><em> </em><em>it</em><em> helps</em>
<em>good</em><em> </em><em>luck</em><em> on</em><em> your</em><em> assignment</em>
You might be interested in
We are not given tables, so will just use the amortization formula.
where
P=amount to be deposited today, to be found
A=amount withdrawn each year=18000
i=Annual interest=9%
n=number of years = 20
Substituting values,
=164313.82 to the nearest cent
where
P=amount to be deposited today, to be found
A=amount withdrawn each year=18000
i=Annual interest=9%
n=number of years = 20
Substituting values,
=164313.82 to the nearest cent