On January 1, Alex received an inheritance of a thirty-year annuity. Starting on the day of the inheritance, the annuity pays $1,000 each January 1, $3,000 each April 1, $2,000 each July 1, and $5000 each October 1. ( If the value on the day she inherits it is $120,000, find the annual effective rate i used to calculate this value to the nearest hundredth of a percent. 8.80 % <-- THis is the answer. But I dont know how to get it
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
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Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
On January 1, Alex received an inheritance of a thirty-year annuity. Starting on the day of the inheritance, the annuity pays $1,000 each January 1, $3,000 each April 1, $2,000 each July 1, and $5000 each October 1. ( If the value on the day she inherits it is $120,000, find the annual effective rate i used to calculate this value to the nearest hundredth of a percent.
8.80 % <-- THis is the answer. But I dont know how to get it
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