a. An employee invests $ 500 per month in an ordinary annuity. If the interest rate is 5 % , find the value of the annuity after 18 yr . b. If the employee invests $ 1000 per month in the annuity instead of $ 500 at 5 % interest, find the value of the annuity after 18 yr . Compare the result to part (a), c. If the employee invests $500 per month in the annuity at 5 % interest find the value of the annuity after 36 yr . Compare the result to part (a).
a. An employee invests $ 500 per month in an ordinary annuity. If the interest rate is 5 % , find the value of the annuity after 18 yr . b. If the employee invests $ 1000 per month in the annuity instead of $ 500 at 5 % interest, find the value of the annuity after 18 yr . Compare the result to part (a), c. If the employee invests $500 per month in the annuity at 5 % interest find the value of the annuity after 36 yr . Compare the result to part (a).
Solution Summary: The author calculates the future value of an ordinary annuity by comparing the values of P,n,r, and t.
a. An employee invests
$
500
per month in an ordinary annuity. If the interest rate is
5
%
, find the value of the annuity after
18
yr
.
b. If the employee invests
$
1000
per month in the annuity instead of
$
500
at
5
%
interest, find the value of the annuity after
18
yr
. Compare the result to part (a),
c. If the employee invests $500 per month in the annuity at
5
%
interest find the value of the annuity after
36
yr
. Compare the result to part (a).
Good Day,
Kindly assist me with the following query. Any assistance would be appreciated.
Can u give rough map of any room u can choose cm on top
3. We'd like to know the first time when the population reaches 7000 people. First, graph the
function from part (a) on your calculator or Desmos. In the same window, graph the line y =
7000. Notice that you will need to adjust your window so that you can see values as big as
7000! Investigate the intersection of the two graphs. (This video shows you how to find the
intersection on your calculator, or in Desmos just hover the cursor over the point.) At what
value t> 0 does the line intersect with your exponential function? Round your answer to two
decimal places. (You don't need to show work for this part.) (2 points)
College Algebra with Modeling & Visualization (5th Edition)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.