Explanation Given: The principal R is $120. The time period ‘ t ’ is 5 years. The rate of interest ‘r’ is 4.8% (i.e) 0.048. Here m=12. Formula used: The formula for compound amount is, P = R ( 1 − ( 1 + i ) − n i ) , where i = r m and n = m t . Calculation: First calculate the interest rate per period, i = r m = 0.048 12 = 0

Finite Mathematics and Calculus with Applications

1st Edition

ISBN: 9781323188361

Author: Margaret Lial

Publisher: Pearson Education

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Chapter 5.3, Problem 1YT

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To find: The present value of ordinary annuity.

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Chapter 5.2, Problem 68E

Chapter 5.3, Problem 2YT

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Chapter 5 Solutions

Finite Mathematics and Calculus with Applications

Ch. 5.1 - Find the maturity value for a 3000 loan at 5.8%...Ch. 5.1 - Prob. 2YT Ch. 5.1 - Prob. 3YT Ch. 5.1 - Prob. 4YT Ch. 5.1 - Prob. 5YT Ch. 5.1 - Prob. 6YT Ch. 5.1 - Prob. 7YT Ch. 5.1 - Prob. 8YT Ch. 5.1 - Prob. 1WE Ch. 5.1 - Prob. 2WE

Ch. 5.1 - Prob. 3WE Ch. 5.1 - Prob. 4WE Ch. 5.1 - Prob. 1E Ch. 5.1 - Prob. 2E Ch. 5.1 - Prob. 3E Ch. 5.1 - Prob. 4E Ch. 5.1 - Prob. 5E Ch. 5.1 - Prob. 6E Ch. 5.1 - Prob. 7E Ch. 5.1 - Prob. 8E Ch. 5.1 - Prob. 9E Ch. 5.1 - Prob. 10E Ch. 5.1 - Prob. 11E Ch. 5.1 - Prob. 12E Ch. 5.1 - Prob. 13E Ch. 5.1 - Prob. 14E Ch. 5.1 - Prob. 15E Ch. 5.1 - Prob. 16E Ch. 5.1 - What is the difference between t and n?Ch. 5.1 - Prob. 18E Ch. 5.1 - Prob. 19E Ch. 5.1 - Prob. 20E Ch. 5.1 - Prob. 21E Ch. 5.1 - Prob. 22E Ch. 5.1 - Prob. 23E Ch. 5.1 - Prob. 24E Ch. 5.1 - Prob. 25E Ch. 5.1 - Prob. 26E Ch. 5.1 - Prob. 27E Ch. 5.1 - Prob. 28E Ch. 5.1 - Prob. 29E Ch. 5.1 - Prob. 30E Ch. 5.1 - Prob. 31E Ch. 5.1 - Prob. 32E Ch. 5.1 - Prob. 33E Ch. 5.1 - Prob. 34E Ch. 5.1 - Find the present value (the amount that should be...Ch. 5.1 - Prob. 36E Ch. 5.1 - Prob. 37E Ch. 5.1 - Prob. 38E Ch. 5.1 - Prob. 39E Ch. 5.1 - Prob. 40E Ch. 5.1 - Prob. 41E Ch. 5.1 - Prob. 42E Ch. 5.1 - Prob. 43E Ch. 5.1 - Prob. 44E Ch. 5.1 - Prob. 45E Ch. 5.1 - Prob. 46E Ch. 5.1 - For each of the following amounts at the given...Ch. 5.1 - Prob. 48E Ch. 5.1 - Prob. 49E Ch. 5.1 - Prob. 50E Ch. 5.1 - Prob. 51E Ch. 5.1 - Prob. 52E Ch. 5.1 - Prob. 53E Ch. 5.1 - Prob. 54E Ch. 5.1 - Prob. 55E Ch. 5.1 - Prob. 56E Ch. 5.1 - Prob. 57E Ch. 5.1 - Prob. 58E Ch. 5.1 - Prob. 59E Ch. 5.1 - Prob. 60E Ch. 5.1 - Prob. 61E Ch. 5.1 - Prob. 62E Ch. 5.1 - Prob. 63E Ch. 5.1 - Prob. 64E Ch. 5.1 - Savings On January 1, 2010, Jack deposited 1000...Ch. 5.1 - Savings Eric deposits 100 into a savings account...Ch. 5.1 - Interest Bruce and Robbie each open new bank...Ch. 5.1 - Prob. 68E Ch. 5.1 - Effective Rate In 2014, the Home Savings Bank paid...Ch. 5.1 - Prob. 70E Ch. 5.1 - Prob. 71E Ch. 5.1 - Prob. 72E Ch. 5.1 - Prob. 73E Ch. 5.1 - Prob. 74E Ch. 5.1 - Prob. 75E Ch. 5.1 - Prob. 76E Ch. 5.1 - Prob. 77E Ch. 5.1 - Prob. 78E Ch. 5.1 - Prob. 79E Ch. 5.1 - Prob. 80E Ch. 5.2 - Prob. 1YT Ch. 5.2 - Prob. 2YT Ch. 5.2 - Prob. 3YT Ch. 5.2 - Prob. 4YT Ch. 5.2 - Prob. 1WE Ch. 5.2 - Prob. 2WE Ch. 5.2 - Prob. 1E Ch. 5.2 - Prob. 2E Ch. 5.2 - Prob. 3E Ch. 5.2 - Prob. 4E Ch. 5.2 - Prob. 5E Ch. 5.2 - Prob. 6E Ch. 5.2 - Prob. 7E Ch. 5.2 - Prob. 8E Ch. 5.2 - Prob. 9E Ch. 5.2 - Prob. 10E Ch. 5.2 - Prob. 11E Ch. 5.2 - Prob. 12E Ch. 5.2 - Prob. 13E Ch. 5.2 - Prob. 14E Ch. 5.2 - Explain how a geometric sequence is related to an...Ch. 5.2 - Prob. 16E Ch. 5.2 - Prob. 17E Ch. 5.2 - Prob. 18E Ch. 5.2 - Prob. 19E Ch. 5.2 - Prob. 20E Ch. 5.2 - Find the future value of each ordinary annuity, if...Ch. 5.2 - Prob. 22E Ch. 5.2 - Prob. 23E Ch. 5.2 - Prob. 24E Ch. 5.2 - Prob. 25E Ch. 5.2 - Prob. 26E Ch. 5.2 - Prob. 27E Ch. 5.2 - Prob. 28E Ch. 5.2 - Prob. 31E Ch. 5.2 - Prob. 32E Ch. 5.2 - Prob. 33E Ch. 5.2 - Prob. 34E Ch. 5.2 - Prob. 35E Ch. 5.2 - Prob. 36E Ch. 5.2 - Prob. 37E Ch. 5.2 - Prob. 38E Ch. 5.2 - Prob. 39E Ch. 5.2 - Prob. 40E Ch. 5.2 - Prob. 41E Ch. 5.2 - Prob. 42E Ch. 5.2 - Prob. 43E Ch. 5.2 - Prob. 44E Ch. 5.2 - Prob. 45E Ch. 5.2 - Prob. 46E Ch. 5.2 - Business and Economics 47. 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The present value of ordinary annuity.

Solution Summary: The author explains that the present value of annuity is 6,389.864. The principal R is 120, and the rate of interest is 4.8%.

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To find: The present value of ordinary annuity.

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Chapter 5 Solutions