Homework Help is Here – Start Your Trial Now!
Math
Advanced Math
The future value in thousands of dollars of an annuity with a monthly payment of $575 and an annual returns of 3.4%, 5.8% and 2.2% over a number of months follows. 320 280- 240- 200- 160 120 80 40- 36 72 108 144 180 216 252 288 324 360 Match the rate with its color. 5.8 2.2 3.4 a. blue b. green c. purple

The future value in thousands of dollars of an annuity with a monthly payment of $575 and an annual returns of 3.4%, 5.8% and 2.2% over a number of months follows. 320 280- 240- 200- 160 120 80 40- 36 72 108 144 180 216 252 288 324 360 Match the rate with its color. 5.8 2.2 3.4 a. blue b. green c. purple

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
See similar textbooks
icon
Related questions
Question
**Future Value of Annuities** This educational graph displays the future value, in thousands of dollars, of an annuity with a monthly payment of $575 over various periods, considering annual returns of 3.4%, 5.8%, and 2.2%. The time is measured in months up to 360 months (30 years). **Graph Details:** - The horizontal axis represents time in months, labeled in increments from 36 to 360. - The vertical axis shows the future value in thousands of dollars, ranging from 0 to 360. **Curves Explanation:** - **Blue Curve:** Represents a 5.8% annual return. It shows the highest growth over time, reaching above $320,000 by 360 months. - **Purple Curve:** Represents a 3.4% annual return. It shows moderate growth over the same period, surpassing $240,000 by the end. - **Green Curve:** Represents a 2.2% annual return. This curve has the slowest growth, ending just under $200,000 by 360 months. **Matching Rates with Colors:** - 5.8% - **Blue** - 2.2% - **Green** - 3.4% - **Purple** This visualization helps in understanding how different interest rates impact the future value of an annuity over time.
Transcribed Image Text:**Future Value of Annuities** This educational graph displays the future value, in thousands of dollars, of an annuity with a monthly payment of $575 over various periods, considering annual returns of 3.4%, 5.8%, and 2.2%. The time is measured in months up to 360 months (30 years). **Graph Details:** - The horizontal axis represents time in months, labeled in increments from 36 to 360. - The vertical axis shows the future value in thousands of dollars, ranging from 0 to 360. **Curves Explanation:** - **Blue Curve:** Represents a 5.8% annual return. It shows the highest growth over time, reaching above $320,000 by 360 months. - **Purple Curve:** Represents a 3.4% annual return. It shows moderate growth over the same period, surpassing $240,000 by the end. - **Green Curve:** Represents a 2.2% annual return. This curve has the slowest growth, ending just under $200,000 by 360 months. **Matching Rates with Colors:** - 5.8% - **Blue** - 2.2% - **Green** - 3.4% - **Purple** This visualization helps in understanding how different interest rates impact the future value of an annuity over time.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Basic Technical Mathematics
Basic Technical Mathematics
Advanced Math
ISBN:
9780134437705
Author:
Washington
Publisher:
PEARSON
Topology
Topology
Advanced Math
ISBN:
9780134689517
Author:
Munkres, James R.
Publisher:
Pearson,
SEE MORE TEXTBOOKS