Precalculus: Mathematics for Calculus - 6th Edition

6th Edition

ISBN: 9780840068071

Author: Stewart, James, Redlin, Lothar, Watson, Saleem

Publisher: Cengage Learning

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Unitary Method

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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 experime…

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Question

Chapter 12.4, Problem 2E

To determine

To fill: The ______ of an annuity is the amount that must be invested now at interest rate i per time period to provide n payments each of amount R.

Expert Solution & Answer

Answer to Problem 2E

The present value of an annuity is the amount that must be invested now at interest rate i per time period to provide n payments each of amount R.

Explanation of Solution

An annuity is a form of financial contract that are typically used for retirement plans by the insurance companies which assures guaranteed payment to the insurer. It is paid by the insurance company for a certain period of time or on lifetime basis.

A present value of annuity computes the total present value of a series of cash flows that are estimated for the future. The present value of annuity is based on the time value of money. The formula used to for present value of annuity is as follows,

AP=R×[1−(1+i)−ni]

Here,

A_P = Present Value of Annuity

R = Periodic Payment

i = Interest Rate

n = Number of Years

Therefore, the present value of an annuity is the amount that must be invested now.

Chapter 12.4, Problem 1E

Chapter 12.4, Problem 3E

Chapter 12 Solutions

Precalculus: Mathematics for Calculus - 6th Edition

Ch. 12.1 - A sequence is a function whose domain is...Ch. 12.1 - Prob. 2E Ch. 12.1 - Prob. 3E Ch. 12.1 - Prob. 4E Ch. 12.1 - Prob. 5E Ch. 12.1 - Prob. 6E Ch. 12.1 - Prob. 7E Ch. 12.1 - Prob. 8E Ch. 12.1 - Prob. 9E Ch. 12.1 - Prob. 10E

Ch. 12.1 - Prob. 11E Ch. 12.1 - Prob. 12E Ch. 12.1 - Prob. 13E Ch. 12.1 - Prob. 14E Ch. 12.1 - Prob. 15E Ch. 12.1 - Prob. 16E Ch. 12.1 - Prob. 17E Ch. 12.1 - Prob. 18E Ch. 12.1 - Prob. 19E Ch. 12.1 - Prob. 20E Ch. 12.1 - Prob. 21E Ch. 12.1 - Prob. 22E Ch. 12.1 - Prob. 23E Ch. 12.1 - Prob. 24E Ch. 12.1 - Prob. 25E Ch. 12.1 - Prob. 26E Ch. 12.1 - Prob. 27E Ch. 12.1 - Prob. 28E Ch. 12.1 - Prob. 29E Ch. 12.1 - Prob. 30E Ch. 12.1 - Prob. 31E Ch. 12.1 - Prob. 32E Ch. 12.1 - Prob. 33E Ch. 12.1 - Prob. 34E Ch. 12.1 - Prob. 35E Ch. 12.1 - Prob. 36E Ch. 12.1 - Prob. 37E Ch. 12.1 - Prob. 38E Ch. 12.1 - Prob. 39E Ch. 12.1 - Prob. 40E Ch. 12.1 - Prob. 41E Ch. 12.1 - Prob. 42E Ch. 12.1 - Prob. 43E Ch. 12.1 - Prob. 44E Ch. 12.1 - Prob. 45E Ch. 12.1 - Prob. 46E Ch. 12.1 - Prob. 47E Ch. 12.1 - Prob. 48E Ch. 12.1 - Prob. 49E Ch. 12.1 - Prob. 50E Ch. 12.1 - Prob. 51E Ch. 12.1 - Prob. 52E Ch. 12.1 - Prob. 53E Ch. 12.1 - Prob. 54E Ch. 12.1 - Prob. 55E Ch. 12.1 - Prob. 56E Ch. 12.1 - Prob. 57E Ch. 12.1 - Prob. 58E Ch. 12.1 - Prob. 59E Ch. 12.1 - Prob. 60E Ch. 12.1 - Prob. 61E Ch. 12.1 - Prob. 62E Ch. 12.1 - Prob. 63E Ch. 12.1 - Prob. 64E Ch. 12.1 - Prob. 65E Ch. 12.1 - Prob. 66E Ch. 12.1 - Prob. 67E Ch. 12.1 - Prob. 68E Ch. 12.1 - Prob. 69E Ch. 12.1 - Prob. 70E Ch. 12.1 - Sigma Notation Write the sum using sigma notation....Ch. 12.1 - Prob. 72E Ch. 12.1 - Prob. 73E Ch. 12.1 - Prob. 74E Ch. 12.1 - nth Term of a Sequence Find a formula for the nth...Ch. 12.1 - Prob. 76E Ch. 12.1 - Compound Interest Julio deposits 2000 in a savings...Ch. 12.1 - Prob. 78E Ch. 12.1 - Population of a City A city was incorporated in...Ch. 12.1 - Prob. 80E Ch. 12.1 - Prob. 81E Ch. 12.1 - Prob. 82E Ch. 12.2 - An arithmetic sequence is a sequence in which the...Ch. 12.2 - Prob. 2E Ch. 12.2 - Prob. 3E Ch. 12.2 - Prob. 4E Ch. 12.2 - Prob. 5E Ch. 12.2 - Prob. 6E Ch. 12.2 - Prob. 7E Ch. 12.2 - Prob. 8E Ch. 12.2 - Prob. 9E Ch. 12.2 - Prob. 10E Ch. 12.2 - Prob. 11E Ch. 12.2 - Prob. 12E Ch. 12.2 - Prob. 13E Ch. 12.2 - Prob. 14E Ch. 12.2 - Prob. 15E Ch. 12.2 - Prob. 16E Ch. 12.2 - Prob. 17E Ch. 12.2 - Prob. 18E Ch. 12.2 - Prob. 19E Ch. 12.2 - Prob. 20E Ch. 12.2 - Prob. 21E Ch. 12.2 - Prob. 22E Ch. 12.2 - Prob. 23E Ch. 12.2 - Prob. 24E Ch. 12.2 - Prob. 25E Ch. 12.2 - Prob. 26E Ch. 12.2 - Prob. 27E Ch. 12.2 - Prob. 28E Ch. 12.2 - Prob. 29E Ch. 12.2 - Prob. 30E Ch. 12.2 - Prob. 31E Ch. 12.2 - Prob. 32E Ch. 12.2 - Prob. 33E Ch. 12.2 - Prob. 34E Ch. 12.2 - Prob. 35E Ch. 12.2 - Prob. 36E Ch. 12.2 - Prob. 37E Ch. 12.2 - Prob. 38E Ch. 12.2 - Prob. 39E Ch. 12.2 - Prob. 40E Ch. 12.2 - Prob. 41E Ch. 12.2 - Prob. 42E Ch. 12.2 - Prob. 43E Ch. 12.2 - Prob. 44E Ch. 12.2 - Prob. 45E Ch. 12.2 - Prob. 46E Ch. 12.2 - Prob. 47E Ch. 12.2 - Prob. 48E Ch. 12.2 - Prob. 49E Ch. 12.2 - Prob. 50E Ch. 12.2 - Prob. 51E Ch. 12.2 - Prob. 52E Ch. 12.2 - Prob. 53E Ch. 12.2 - Prob. 54E Ch. 12.2 - Prob. 55E Ch. 12.2 - Prob. 56E Ch. 12.2 - Prob. 57E Ch. 12.2 - Prob. 58E Ch. 12.2 - Prob. 59E Ch. 12.2 - Prob. 60E Ch. 12.2 - Depreciation The purchase value of an office...Ch. 12.2 - Poles in a Pile Telephone poles are being stored...Ch. 12.2 - Salary Increases A man gets a job with a salary of...Ch. 12.2 - Drive-In Theater A drive-in theater has spaces for...Ch. 12.2 - Theater Seating An architect designs a theater...Ch. 12.2 - Prob. 66E Ch. 12.2 - The Twelve Days of Christmas In the well-known...Ch. 12.2 - Prob. 68E Ch. 12.3 - A geometric sequence is a sequence in which the...Ch. 12.3 - Prob. 2E Ch. 12.3 - True or False? If we know the first and second...Ch. 12.3 - Prob. 4E Ch. 12.3 - Prob. 5E Ch. 12.3 - Prob. 6E Ch. 12.3 - Prob. 7E Ch. 12.3 - Prob. 8E Ch. 12.3 - Prob. 9E Ch. 12.3 - Prob. 10E Ch. 12.3 - Prob. 11E Ch. 12.3 - Prob. 12E Ch. 12.3 - Prob. 13E Ch. 12.3 - Prob. 14E Ch. 12.3 - Prob. 15E Ch. 12.3 - Prob. 16E Ch. 12.3 - Prob. 17E Ch. 12.3 - Prob. 18E Ch. 12.3 - Prob. 19E Ch. 12.3 - Prob. 20E Ch. 12.3 - Prob. 21E Ch. 12.3 - Prob. 22E Ch. 12.3 - Prob. 23E Ch. 12.3 - Prob. 24E Ch. 12.3 - Prob. 25E Ch. 12.3 - Prob. 26E Ch. 12.3 - Prob. 27E Ch. 12.3 - Prob. 28E Ch. 12.3 - Prob. 29E Ch. 12.3 - Prob. 30E Ch. 12.3 - Prob. 31E Ch. 12.3 - Prob. 32E Ch. 12.3 - Prob. 33E Ch. 12.3 - Prob. 34E Ch. 12.3 - Prob. 35E Ch. 12.3 - Prob. 36E Ch. 12.3 - Prob. 37E Ch. 12.3 - Prob. 38E Ch. 12.3 - Prob. 39E Ch. 12.3 - Prob. 40E Ch. 12.3 - Prob. 41E Ch. 12.3 - Prob. 42E Ch. 12.3 - Prob. 43E Ch. 12.3 - Prob. 44E Ch. 12.3 - Prob. 45E Ch. 12.3 - Prob. 46E Ch. 12.3 - Prob. 47E Ch. 12.3 - Prob. 48E Ch. 12.3 - Prob. 49E Ch. 12.3 - Prob. 50E Ch. 12.3 - Prob. 51E Ch. 12.3 - Prob. 52E Ch. 12.3 - Prob. 53E Ch. 12.3 - Prob. 54E Ch. 12.3 - Prob. 55E Ch. 12.3 - Prob. 56E Ch. 12.3 - Prob. 57E Ch. 12.3 - Prob. 58E Ch. 12.3 - Prob. 59E Ch. 12.3 - Prob. 60E Ch. 12.3 - Prob. 61E Ch. 12.3 - Prob. 62E Ch. 12.3 - Prob. 63E Ch. 12.3 - Prob. 64E Ch. 12.3 - Prob. 65E Ch. 12.3 - Prob. 66E Ch. 12.3 - Prob. 67E Ch. 12.3 - Prob. 68E Ch. 12.3 - Prob. 69E Ch. 12.3 - Prob. 70E Ch. 12.3 - Depreciation A construction company purchases a...Ch. 12.3 - Prob. 72E Ch. 12.3 - Bouncing Ball A ball is dropped from a height of...Ch. 12.3 - Bacteria Culture A culture initially has 5000...Ch. 12.3 - Mixing Coolant A truck radiator holds 5 gal and is...Ch. 12.3 - Musical Frequencies The frequencies of musical...Ch. 12.3 - Bouncing Ball A ball is dropped from a height of 9...Ch. 12.3 - Prob. 78E Ch. 12.3 - St. Ives The following is a well-known childrens...Ch. 12.3 - Prob. 80E Ch. 12.3 - Bouncing Ball A certain ball rebounds to half the...Ch. 12.3 - Prob. 82E Ch. 12.3 - Geometry A circular disk of radius R is cut out of...Ch. 12.3 - Prob. 84E Ch. 12.3 - PROVE: Logarithms of a Geometric Sequence If a1,...Ch. 12.3 - Prob. 86E Ch. 12.3 - Prob. 87E Ch. 12.3 - Prob. 88E Ch. 12.3 - Prob. 89E Ch. 12.4 - An annuity is a sum of money that is paid in...Ch. 12.4 - Prob. 2E Ch. 12.4 - Prob. 3E Ch. 12.4 - Annuity Find the amount of an annuity that...Ch. 12.4 - Annuity Find the amount of an annuity that...Ch. 12.4 - Prob. 6E Ch. 12.4 - Prob. 7E Ch. 12.4 - Prob. 8E Ch. 12.4 - Prob. 9E Ch. 12.4 - Saving How much money should be invested monthly...Ch. 12.4 - Prob. 11E Ch. 12.4 - Prob. 12E Ch. 12.4 - Prob. 13E Ch. 12.4 - Funding an Annuity A 55-year-old man deposits...Ch. 12.4 - Prob. 15E Ch. 12.4 - Prob. 16E Ch. 12.4 - Prob. 17E Ch. 12.4 - Prob. 18E Ch. 12.4 - Mortgage Dr. Gupta is considering a 30-year...Ch. 12.4 - Prob. 20E Ch. 12.4 - Prob. 21E Ch. 12.4 - Prob. 22E Ch. 12.4 - Prob. 23E Ch. 12.4 - Prob. 24E Ch. 12.4 - Interest Rate John buys a stereo system for 640....Ch. 12.4 - Prob. 26E Ch. 12.4 - Prob. 27E Ch. 12.4 - Interest Rate A man purchases a 2000 diamond ring...Ch. 12.4 - Prob. 29E Ch. 12.4 - Prob. 30E Ch. 12.4 - Prob. 31E Ch. 12.5 - Mathematical induction is a method of proving that...Ch. 12.5 - Prob. 2E Ch. 12.5 - Prob. 3E Ch. 12.5 - Prob. 4E Ch. 12.5 - Prob. 5E Ch. 12.5 - Prob. 6E Ch. 12.5 - Prob. 7E Ch. 12.5 - Prob. 8E Ch. 12.5 - Prob. 9E Ch. 12.5 - Prob. 10E Ch. 12.5 - Prob. 11E Ch. 12.5 - Prob. 12E Ch. 12.5 - Prob. 13E Ch. 12.5 - Prob. 14E Ch. 12.5 - Prob. 15E Ch. 12.5 - Prob. 16E Ch. 12.5 - Prob. 17E Ch. 12.5 - Prob. 18E Ch. 12.5 - Prob. 19E Ch. 12.5 - Prob. 20E Ch. 12.5 - Prob. 21E Ch. 12.5 - Prob. 22E Ch. 12.5 - Prob. 23E Ch. 12.5 - Prob. 24E Ch. 12.5 - Prob. 25E Ch. 12.5 - Prob. 26E Ch. 12.5 - Prob. 27E Ch. 12.5 - Prob. 28E Ch. 12.5 - Prob. 29E Ch. 12.5 - Prob. 30E Ch. 12.5 - Prob. 31E Ch. 12.5 - Prob. 32E Ch. 12.5 - Prob. 33E Ch. 12.5 - Prob. 34E Ch. 12.5 - Prob. 35E Ch. 12.5 - Prob. 36E Ch. 12.5 - Prob. 37E Ch. 12.5 - Prob. 38E Ch. 12.6 - An algebraic expression of the form a + b, which...Ch. 12.6 - Prob. 2E Ch. 12.6 - The binomial coefficients can be calculated...Ch. 12.6 - Prob. 4E Ch. 12.6 - Prob. 5E Ch. 12.6 - Prob. 6E Ch. 12.6 - Prob. 7E Ch. 12.6 - Prob. 8E Ch. 12.6 - Prob. 9E Ch. 12.6 - Prob. 10E Ch. 12.6 - Prob. 11E Ch. 12.6 - Prob. 12E Ch. 12.6 - Prob. 13E Ch. 12.6 - Prob. 14E Ch. 12.6 - Prob. 15E Ch. 12.6 - Prob. 16E Ch. 12.6 - Prob. 17E Ch. 12.6 - Prob. 18E Ch. 12.6 - Prob. 19E Ch. 12.6 - Prob. 20E Ch. 12.6 - Prob. 21E Ch. 12.6 - Prob. 22E Ch. 12.6 - Prob. 23E Ch. 12.6 - Prob. 24E Ch. 12.6 - Prob. 25E Ch. 12.6 - Prob. 26E Ch. 12.6 - Prob. 27E Ch. 12.6 - Prob. 28E Ch. 12.6 - Prob. 29E Ch. 12.6 - Prob. 30E Ch. 12.6 - Prob. 31E Ch. 12.6 - Prob. 32E Ch. 12.6 - Prob. 33E Ch. 12.6 - Prob. 34E Ch. 12.6 - Prob. 35E Ch. 12.6 - Prob. 36E Ch. 12.6 - Prob. 37E Ch. 12.6 - Prob. 38E Ch. 12.6 - Prob. 39E Ch. 12.6 - Prob. 40E Ch. 12.6 - Prob. 41E Ch. 12.6 - Prob. 42E Ch. 12.6 - Prob. 43E Ch. 12.6 - Prob. 44E Ch. 12.6 - Prob. 45E Ch. 12.6 - Prob. 46E Ch. 12.6 - Prob. 47E Ch. 12.6 - Prob. 48E Ch. 12.6 - Prob. 49E Ch. 12.6 - Prob. 50E Ch. 12.6 - Prob. 51E Ch. 12.6 - Prob. 52E Ch. 12.6 - Prob. 53E Ch. 12.6 - Prob. 54E Ch. 12.6 - Difference in Volumes of Cubes The volume of a...Ch. 12.6 - Probability of Hitting a Target The probability...Ch. 12.6 - Prob. 57E Ch. 12.6 - Prob. 58E Ch. 12.6 - Prob. 59E Ch. 12 - Prob. 1RCC Ch. 12 - Prob. 2RCC Ch. 12 - Prob. 3RCC Ch. 12 - Prob. 4RCC Ch. 12 - Prob. 5RCC Ch. 12 - Prob. 6RCC Ch. 12 - Prob. 7RCC Ch. 12 - Prob. 8RCC Ch. 12 - Prob. 1RE Ch. 12 - Prob. 2RE Ch. 12 - Prob. 3RE Ch. 12 - Prob. 4RE Ch. 12 - Prob. 5RE Ch. 12 - Prob. 6RE Ch. 12 - Prob. 7RE Ch. 12 - Prob. 8RE Ch. 12 - Prob. 9RE Ch. 12 - Prob. 10RE Ch. 12 - Prob. 11RE Ch. 12 - Prob. 12RE Ch. 12 - Prob. 13RE Ch. 12 - Prob. 14RE Ch. 12 - Prob. 15RE Ch. 12 - Prob. 16RE Ch. 12 - Prob. 17RE Ch. 12 - Prob. 18RE Ch. 12 - Prob. 19RE Ch. 12 - Prob. 20RE Ch. 12 - Prob. 21RE Ch. 12 - Prob. 22RE Ch. 12 - Prob. 23RE Ch. 12 - Prob. 24RE Ch. 12 - Prob. 25RE Ch. 12 - Prob. 26RE Ch. 12 - Prob. 27RE Ch. 12 - Prob. 28RE Ch. 12 - Prob. 29RE Ch. 12 - Prob. 30RE Ch. 12 - Prob. 31RE Ch. 12 - Prob. 32RE Ch. 12 - Prob. 33RE Ch. 12 - Prob. 34RE Ch. 12 - Prob. 35RE Ch. 12 - Prob. 36RE Ch. 12 - Prob. 37RE Ch. 12 - Prob. 38RE Ch. 12 - Prob. 39RE Ch. 12 - Prob. 40RE Ch. 12 - Prob. 41RE Ch. 12 - Prob. 42RE Ch. 12 - Prob. 43RE Ch. 12 - Prob. 44RE Ch. 12 - Prob. 45RE Ch. 12 - Prob. 46RE Ch. 12 - Prob. 47RE Ch. 12 - Prob. 48RE Ch. 12 - Prob. 49RE Ch. 12 - Prob. 50RE Ch. 12 - Prob. 51RE Ch. 12 - Prob. 52RE Ch. 12 - Prob. 53RE Ch. 12 - Prob. 54RE Ch. 12 - Prob. 55RE Ch. 12 - Prob. 56RE Ch. 12 - Prob. 57RE Ch. 12 - Prob. 58RE Ch. 12 - Prob. 59RE Ch. 12 - Prob. 60RE Ch. 12 - Prob. 61RE Ch. 12 - Prob. 62RE Ch. 12 - Prob. 63RE Ch. 12 - Prob. 64RE Ch. 12 - Prob. 65RE Ch. 12 - Prob. 66RE Ch. 12 - Prob. 67RE Ch. 12 - Prob. 68RE Ch. 12 - Prob. 69RE Ch. 12 - Prob. 70RE Ch. 12 - Prob. 71RE Ch. 12 - Prob. 72RE Ch. 12 - Prob. 73RE Ch. 12 - Prob. 74RE Ch. 12 - Prob. 75RE Ch. 12 - Prob. 76RE Ch. 12 - Prob. 77RE Ch. 12 - Prob. 78RE Ch. 12 - Prob. 79RE Ch. 12 - Prob. 80RE Ch. 12 - Prob. 81RE Ch. 12 - Prob. 82RE Ch. 12 - Prob. 83RE Ch. 12 - Prob. 1T Ch. 12 - Prob. 2T Ch. 12 - Prob. 3T Ch. 12 - A geometric sequence begins 12,3,34,316,364,. (a)...Ch. 12 - The first term of a geometric sequence is 25, and...Ch. 12 - The first term of an arithmetic sequence is 10,...Ch. 12 - Prob. 7T Ch. 12 - Write the expression without using sigma notation,...Ch. 12 - Prob. 9T Ch. 12 - Prob. 11T Ch. 12 - Prob. 12T Ch. 12 - A puppy weighs 0.85 lb at birth, and each week he...Ch. 12 - Prob. 1P Ch. 12 - Fitness Program Sheila decides to embark on a...Ch. 12 - Monthly Savings Program Alice opens a savings...Ch. 12 - Prob. 4P Ch. 12 - Prob. 5P Ch. 12 - Prob. 6P Ch. 12 - Prob. 7P Ch. 12 - Prob. 8P Ch. 12 - Prob. 9P

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The ______ of an annuity is the amount that must be invested now at interest rate i per time period to provide n payments each of amount R .

Solution Summary: The author explains that an annuity is a form of financial contract that are typically used for retirement plans by the insurance companies.