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).
The fox population in a certain region has an annual growth rate of 8 percent per year. It is estimated that the
population in the year 2000 was 22600.
(a) Find a function that models the population t years after 2000 (t = 0 for 2000).
Your answer is P(t)
=
(b) Use the function from part (a) to estimate the fox population in the year 2008.
Your answer is (the answer should be an integer)
r
The solutions are 1
where x1 x2-
● Question 11
Solve: x 54
Give your answer as an interval.
Question 12
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.