ION 1: BASIC ANNUITIES AND APPLICATIONS [20 MARKS]
Find the present and future value of $1000 received every month end for 20
years if the interest rate is J12 = 12% p.a. (5 marks)
Find the present value of $10,000 received at the start of every year for 20 years
if the interest rate is J1 = 12% p.a. and if the first payment of $10,000 is received
at the end of 10 years. (5 marks).
1.
John is currently 25 years old. He has $10,000 saved up and wishes to deposit
this into a savings account which pays him J12 = 6% p.a. He also wishes to
deposit $X every month into that account so that when he retires at 55, he can
withdraw $2000 every month end to support his retirement. He expects to live
up till 70 years. How much should he deposit every month into his account? (10
Marks)
JESTION 2: LOAN AMORTIZATION [35 MARKS]
IP
W​

Answers

Answer 1

Answer:

Find the present and future value of $1000 received every month end for 20  years if the interest rate is J12 = 12%

$90,819.42

Find the present value of $10,000 received at the start of every year for 20 years if the interest rate is J1 = 12% p.a. and if the first payment of $10,000 is received  at the end of 10 years.

$26,935.64

1.  John is currently 25 years old. He has $10,000 saved up and wishes to deposit  this into a savings account which pays him J12 = 6% p.a. He also wishes to  deposit $X every month into that account so that when he retires at 55, he can withdraw $2000 every month end to support his retirement. He expects to live up till 70 years. How much should he deposit every month into his account?

$178.7644 ≈ $178.76

Step-by-step explanation:

there are two ways to solve this question:

using the formula for present value of annuityusing an annuity table

since this question is about monthly payments, I will use the annuity formula:

PV = payment x {[1 - (1 + r)⁻ⁿ]/r}

PV = 1000 x {[1 - (1 + 0.01)⁻²⁴⁰]/0.01}

r = 12% / 12 = 1%

n = 20 x 12 = 240

PV = $90,819.42

for the annuity due, we can use an annuity table since payments are annual:

payment $10,000

20 years

12% interest rate

PV annuity due = $10,000 x 8.3658 = $83,658

since the first payment is received 10 years form now, we must determine the PV = $83,658 / (1 + 0.12)¹⁰ = $26,935.64

1)

monthly payment = total amount / discount factor

total amount = monthly payment x discount factor

monthly payment = 2,000discount factor = D = {[(1 + r)ⁿ] - 1} / [r(1 + r)ⁿ] = D = {[(1 + 0.005)¹⁸⁰] - 1} / [0.005(1 + 0.005)¹⁸⁰] = 1.45409 / 0.01227 = 118.5032

total amount = $237,006.45

we have to divide John's account in two:

the future value of $10,000 = $10,000 x (1 + 6%)³⁰ = $57,434.91so he needs to save an additional $237,006.45 - $57,434.91 = $179,571.54

future value of annuity = monthly payment x {[(1 + r)ⁿ - 1]/ r}

monthly payment = future value /  {[(1 + r)ⁿ - 1]/ r}

future value = $179,571.54 {[(1 + r)ⁿ - 1]/ r} =  {[(1 + 0.005)³⁶⁰ - 1]/ 0.005} = 1,004.515042

monthly payment = $179,571.54 / 1,004.515042 = $178.7644


Related Questions

Mary can make a costume twice as fast as Sam can can. If they both work together, they can make it in 6 hours. How long will it take Mary to make the costume if she works alone?

Answers

Answer:

2 hours

Step-by-step explanation:

Mary=x

Sam=2x

Mary+Sam=3x=6hours

x=2hours

The graph of an absolute value function has a
vertex at (-2,3) and passes through the point (-1,
0). Using transformations of the parent function,
has the graph been dilated by a scale factor other
than 1? Explain

Answers

Answer:

Yes. The graph of the parent function has been dilated by a scale factor other than 1.

Step-by-step explanation:

Let the parent function of the absolute value function is,

f(x) = |x|

This function passes through (0, 0) and slope = 1 or -1.

After transformation vertex (0, 0) becomes (-2, 3) and a point through which this function passes through is (-1, 0)

Slope of the function = [tex]\frac{3-0}{-2+1}[/tex]

                                   = -3

Since slope of the transformed function is less than the parent function. (-3 < -1)

Therefore, parent function will be dilated by a scale factor other than 1.

Answer:

edge answer

Step-by-step explanation:

Yes, the graph has been dilated.

Using the standard form of the equation, substitute in the values: h = –2, k = 3, x = –1, and y = 0.

Solve the equation to get a = –3.

Graphically, the parent function follows the pattern of right 1, up 1. Moving 1 unit to the right from the vertex, you can move down 3 units to get to the point (–1, 0), so it has been horizontally compressed.

Which equation represents the slope-intercept form of the line below?
6+
y-intercept = (0, 3)
slope = 4

Answers

Answer:

y = 4x+ 3

Step-by-step explanation:

The slope intercept form of a line is

y = mx+b  where m is the slope and b is the y intercept

y = 4x+ 3

Isaac is organizing a 5-kilometer road race. The safety committee
recommends having a volunteer every 1 of a kilometer and at
the finish.
| Are 10 volunteers enough?​

Answers

Answer:

10 volunteers are more than recommended

Step-by-step explanation:

  The recommended number of volunteers is five (5)

  Since the the distance of the race is 5km,

and the safety committees recommends 1 volunteer per kilometre.

Hence ten (10) volunteers is more than enough

What’s the correct answer for this question?

Answers

Answer:

Step-by-step explanation:

the event of drawing a spade card


The table shows the heights of the winners and runners-up of 8
presidential elections. Find the line of regression that predicts the
runner-up's height given the winner's height. Determine if the
regression line is a good predictor of heights for the winners and
runner-ups of presidential elections.
Winner
69.5
73
73
74
74.5
74.5
71
71
Runner-Up
72
69.5
70
68
74
74
73
76

Answers

Answer:

The table shows the heights of the winners and runner-ups of 8 presidential elections. Find the line of regression that predicts the runner-up's height given the winner's height. Determine if the regression line is a good predictor of heights for the winners and runner-ups of presidential elections.

Winner: 69.5; 73; 73; 74; 74.5; 74.5; 71; 71

Runner-Up: 72; 69.5; 70; 68; 74; 74; 73; 76

a. y = 95.4 - 0.321x; no, because the r-value is low.***

b. y = -0.321 + 95.4x; no, because the r-value is low.

The regression line is NOT a good predictor of heights for the winners and runner-ups of presidential elections because the r-value is low

Calculations and Parameters:

Given that:

The data given for the winners are:

69.5; 73; 73; 74; 74.5; 74.5; 71; 71

The runners up are:

72; 69.5; 70; 68; 74; 74; 73; 76

With this, we can see that a. y = 95.4 - 0.321x; no, because the r-value is low.

Read more about lines of regression here:

https://brainly.com/question/25987747

#SPJ2

Suppose f (x )right arrow 250 and g (x )right arrow 0 with ​g(x)greater than0 as x right arrow 5. Determine ModifyingBelow lim With x right arrow 5 StartFraction f (x )Over g (x )EndFraction .

Answers

Answer:

The limit is [tex]\lim_{x \to 5} \frac{250}{0} = \infty[/tex]

Step-by-step explanation:

The  equation given are

     [tex]f(x) \to 250[/tex]

and   [tex]g(x) \to 0[/tex]

with [tex]g(x) > 0 \ as\ x ---> 5[/tex]

The objective is to obtain

      [tex]\lim_{x \to 5} \frac{f(x)}{g(x)}[/tex]

This mathematically evaluated as

        [tex]\lim_{x \to 5} \frac{250}{0}[/tex]

      [tex]= \lim_{x \to 5} \frac{250}{0} = \infty[/tex]

Simplify this equation x2-5x-36​

Answers

Answer:

[tex]=\left(x+4\right)\left(x-9\right)[/tex]

Step-by-step explanation:

[tex]x^2-5x-36\\\mathrm{Break\:the\:expression\:into\:groups}\\=\left(x^2+4x\right)+\left(-9x-36\right)\\\mathrm{Factor\:out\:}x\mathrm{\:from\:}x^2+4x\mathrm{:\quad }x\left(x+4\right)\\\mathrm{Factor\:out\:}-9\mathrm{\:from\:}-9x-36\mathrm{:\quad }-9\left(x+4\right)\\=x\left(x+4\right)-9\left(x+4\right)\\\mathrm{Factor\:out\:common\:term\:}x+4\\=\left(x+4\right)\left(x-9\right)[/tex]

I need help asaap!!!!

Answers

Answer:

Answer choice 3

Step-by-step explanation:

Option 3 is correct one

∠TQS ≅ ∠RSQ

⇒ ΔTQS ≅ ΔRSQ

⇒ QR≅ST and QT≅RS

QRST is parallelogram by definition

Answer:

Option 3

Step-by-step explanation:

Angle TQS is congruent to angle RSQ and can be proved by alternating interior angle theorem.

Triangle TQS is congruent to triangle RSQ.

Line QR is congruent to line ST.

Line QT is congruent to line RS.

Find the circumference and the area of a circle with diameter 7 cm.
Use the value 3.14 for n, and do not round your answers. Be sure to include the correct units in your answers.
Circumference: 0
cm
7 cm
Area:
X​

Answers

Answer:

21.98 is the circumference because is it 7 pi 7 times 3.14. For the area though it is 38.48 because you need to get the radius of the circle and you divided 7 by 2 which is 3.5 and here is the work A=πr2=π·3.52≈38.48451

Step-by-step explanation:

Hope this helped and you understood if you want it would help a lot if you put it brainliest.

(Please hurry)

Explain how to find the value of x

Answers

Answer:

96

Step-by-step explanation:

Exterior angles add up to 360

360 - 134-130 = 96

x = 96

Zed went to the store and bought a bag of chips. He estimated there would 1 point
be 350 chips in the package, but realized there were only 210 chips in that
package. What was his percent error?'​

Answers

Answer:

66.67%

Step-by-step explanation:

They do not say that I estimate a value of 350 chips but in reality there were 210 chips in total, we have that the error formula is:

Percentage error (%) = (estimated value - actual value) / actual value × 100 (in absolute value)

replacing:

Percentage error (%) = | 350 - 210 | / 210 × 100

Percentage error (%) = 140/210 * 100

Percentage error (%) = 66.67

Which means that the percentage error is 66.67%

If right triangle ABC below was rotated around side AB, which solid would be produced?

Answers

Answer: Option 3.

Step-by-step explanation:

A rotation around the side AB, means that the side AB remains fixed in the place, and we rotate the vertex C creating in this way a solid figure.

Now, this figure will Create a cone with height AB, and where the radius of the base will be BC. (Where AB is the length of the side AB in the original triangle, and BC is the length of the side BC on the original triangle)

The correct option is option 3.

Leah is 2 less than 3 times Rachel's age. 3 years from now, Leah will be 7 more than twice Rachel's age. How old will Rachel be in 3 years from now?

Answers

Answer:

15

Step-by-step explanation:

Let's call Leah's age l and Rachel's age r. We can write:

l = 3r - 2 (1)

l + 3 = 2(r + 3) + 7 (2)

Substituting (1) into (2) we get:

(3r - 2) + 3 = 2(r + 3) + 7

3r + 1 = 2r + 13

r = 12

In 3 years Rachel will be 12 + 3 = 15 years old.

The random variable x is the number of vehicles that pass through an intersection in a 30-minute interval. It can be assumed that the probability of an occurrence is the same in any two time intervals of an equal length. It is known that the mean number of occurrences in 30 minutes is 9. What is the expected value of the random variable x?

Answers

Answer:

9 is the correct answer to the given question .

Step-by-step explanation:

AS mention  in the question the random variable x is the number of vehicles that passing through the intersection in the 30-minute .So we concluded that it is normal distribution because in the normal distribution the variable values are divided .

In the Normal distribution  

[tex]Mean \ number\ =\ Expected\ value\ \\Here Mean number\ =\ 9[/tex]

Therefore the Expected value =9.

8x - 4 < - 12 or 8x + 7 >23 i need help to find answer

Answers

Answer:

x>4/3 and x<1

Step-by-step explanation:

8x-4 < -12

8x<-12+4

x<8/8

x<1

8x+7> 23

8x>23-7

x>12/8

simplify : x>4/3

What is the probability that the hand is a two of a kind? A two of a kind has two cards of the same rank (called the pair). Among the remaining three cards, not in the pair, no two have the same rank and none of them have the same rank as the pair. For example, {4♠, 4♦, J♠, K♣, 8♥} is a two of a kind.

Answers

Question:

A 5-card hand is dealt from a perfectly shuffled deck of playing cards.

What is the probability that the hand is a two of a kind?

A two of a kind has two cards of the same rank (called the pair). Among the remaining three cards, not in the pair, no two have the same rank and none of them have the same rank as the pair. For example, {4♠, 4♦, J♠, K♣, 8♥} is a two of a kind.

Answer:

P(two of a kind) = 42.3%

Step-by-step explanation:

The probability that the hand is a two of a kind is given by

P(two of a kind) = No. of ways to produce two of a kind/Total no. of ways to deal 5-hand cards

There are total 52 cards in a standard deck of playing cards.

Total number of ways to deal 5-card hand is given by

Total number of ways = ₅₂C₅

Total number of ways = 2595960

So there are 2595960 different ways of dealing 5-card hands

Now we will find out the number of ways to produce two of a kind.

The number of ways to select the rank of two matching cards is given by

Rank of matching cards = ₁₃C₁ = 13

Since the matching cards must be of same rank.

The number of ways to select the rank of remaining 3 cards is given by

Rank of remaining 3 cards = ₁₂C₃ = 220

Since the remaining ranks are now 12.

The number of ways to select the suits of two matching cards is given by

Suits of two matching cards = ₄C₂ = 6

The number of ways to select the suits of 1st non-matching card is given by

Suits of 1st non-matching card = ₄C₁ = 4

The number of ways to select the suits of 2nd non-matching card is given by

Suits of 2nd non-matching card = ₄C₁ = 4

The number of ways to select the suits of 3rd non-matching card is given by

Suits of 3rd non-matching card = ₄C₁ = 4

Finally, the probability is

P(two of a kind) = No. of ways to produce two of a kind/Total no. of ways to deal 5-hand cards

P(two of a kind) = (₁₃C₁ × ₁₂C₃ × ₄C₂ × ₄C₁ × ₄C₁ × ₄C₁) / ₅₂C₅

P(two of a kind) = (13 × 220 × 6 × 4 × 4 × 4) / 2595960

P(two of a kind) = 1098240/2595960

P(two of a kind) = 0.423

P(two of a kind) = 42.3%

In a grinding operation, there is an upper specification of 3.150 in. on a dimension of a certain part after grinding. Suppose that the standard deviation of this normally distributed dimension for parts of this type ground to any particular mean dimension LaTeX: \mu\:is\:\sigma=.002 μ i s σ = .002 in. Suppose further that you desire to have no more than 3% of the parts fail to meet specifications. What is the maximum (minimum machining cost) LaTeX: \mu μ that can be used if this 3% requirement is to be met?

Answers

Answer:

Step-by-step explanation:

Let X denote the dimension of the part after grinding

X has normal distribution with standard deviation [tex]\sigma=0.002 in[/tex]

Let the mean of X be denoted by [tex]\mu[/tex]

there is an upper specification of 3.150 in. on a dimension of a certain part after grinding.

We desire to have no more than 3% of the parts fail to meet specifications.

We have to find the maximum [tex]\mu[/tex] such that can be used if this 3% requirement is to be meet

[tex]\Rightarrow P(\frac{X- \mu}{\sigma} <\frac{3.15- \mu}{\sigma} )\leq 0.03\\\\ \Rightarrow P(Z <\frac{3.15- \mu}{\sigma} )\leq 0.03\\\\ \Rightarrow P(Z <\frac{3.15- \mu}{0.002} )\leq 0.03[/tex]

We know from the Standard normal tables that

[tex]P(Z\leq -1.87)=0.0307\\\\P(Z\leq -1.88)=0.0300\\\\P(Z\leq -1.89)=0.0293[/tex]

So, the value of Z consistent with the required condition is approximately -1.88

Thus we have

[tex]\frac{3.15- \mu}{0.002} =-1.88\\\\\Rrightarrow \mu =1.88\times0.002+3.15\\\\=3.15[/tex]

Find an equation of the line that has a slope of 2 and a y intercept of 9. Write your answer in the form y=mx+b

Answers

Answer:

  y = 2x +9

Step-by-step explanation:

The slope-intercept form of the equation of a line is ...

  y = mx +b

where m is the slope and b is the y-intercept.

The problem statement tells you m=2 and y=9. Putting these values into the equation form gives ...

  y = 2x +9

In a 30 degree, 60 degree, 90 degree triangle shortest side is 9. Find the lengths of the other sides

Answers

Answer:

To find the second-shortest side we'll multiply 9 by √3 which is 9√3 and for the hypotenuse we'll do 9 * 2 = 18.

If a variable has a distribution that is​ bell-shaped with mean 16 and standard deviation 6​, then according to the Empirical​ Rule, 99.7​% of the data will lie between which​ values? g

Answers

Answer:

99,7 % of all values will be in the interval ( -2 ; 34)

Step-by-step explanation:

Empirical Rule for the normal distribution with mean X,  implies that the intervals :

X ± σ             will contain  68 % of all values

X ± 2σ           will contain  95 % of all values

X ± 3σ           will contain  99,7 % of all values

Therefore in the interval    X  - 3σ   ;   X + 3σ

X - 3*6    =  X  -18  =  16 - 18 = -2

And

X + 3*6  = X + 18   = 16 + 18 = 34

99,7 % of all values will be in the interval ( -2 ; 34)

Lucy buys 7kg of nuts to sell.
She pays £10 for the nuts.
Lucy puts all the nuts into bags.
She puts 350g of nuts into each bag.
She then sells each bag of nuts for 75p.
Lucy sells all the bags of nuts.
Work out her percentage profit.

Answers

Answer:

Lucy's percentage profit = 33.33% based on Sales Value

and 50% based on Cost.

Step-by-step explanation:

a) Calculations:

7kg = 7,000g of nuts

Cost of 7,000g = £10

350g = 20 bags (7,000/350)

Sales value = £15 (20 x 75p)

Profit = Sales value minus Cost

Profit = £5 (£15 - £10)

Profit percentage based on sales = Profit/Sales x 100 = 5/15 x 100 = 33.33%

Profit percentage based on cost = Profit/Cost x 100 = 5/10 x 100 = 50%

b) Profit is the excess of sales over cost.  There are two ways to express it in percentages.  Profit can be expressed as a percentage of the cost (Markup).  It can also be expressed as the percentage of the sales value (Margin).

8. 3/4 is expressed as a percentage is

Answers

Answer:

75%

Step-by-step explanation:

Divide 3 by 4 to get 0.75. Round to 75%.

Answer:

75%

Step-by-step explanation:

Divide 3 by 4 to get 0.75 and multiply by 100 to convert from a decimal to a percentage. The answer will be 75%.

Hope this helps!!! PLZ MARK BRAINLIEST!!!

3.
QR
find the arc length
02.83
021.99
O 12.57
0 34.56

Answers

Your answer should be 12.57

Simplify the expression. (-3 + 6i)(-3 + 5i)

Answers

Answer:

When we expand we get -9 - 33i + 30i². Since i² = -1 we can write this as -9 - 33i + 30 * (-1) = -9 - 33i - 30 = -33i - 39.

Answer:

-21-33i

Step-by-step explanation:

(-3+6i)(-3+5i)=9-15i-18i+30i²=9-33i+30(-1)=-21-33i

8 cm
10 cm
The surface area of the above figure is
A. 816.8 cm2
B. 879.6 cm2
C. 565.5 cm2
D. 1131.0 cm

Answers

Hi there u have not given us the figure please correct the answer and I will send my answer.Is it a cylinder cuboid cube or?

A stuffed animal business has a total cost of production C=12x+30 and a revenue function R=20x. Find the break-even point and express it as an ordered pair in the form (x,y).

Answers

Answer:

The break-even point is when x is equal to 3.75

Step-by-step explanation:

At the break-even point, total cost function is equal to the total revenue function. In that regard, break-even is when;

C = 12x + 30 is equal to R = 20x.

thus, 12x + 30 = 20x

then, 12x - 12x + 30 = 20x - 12x

therefore, 30 = 8x

then, 30/8 = 8x/8

finally, x = 15/4 or 3.75

A stuffed animal business has a total cost of production C=12x+30 and a revenue function R=20x, the Break even point is (3.75,75)

Given :

A stuffed animal business has a total cost of production C=12x+30 and a revenue function R=20x.

Break even point occurs when revenue = cost

R=C

Replace the expression and solve for x

[tex]R=C\\20x=12x+30\\20x-12x=30\\8x=30\\divide \; by \; 8\\x=\frac{15}{4}\\x=3.75[/tex]

Now we find out y using Revenue

[tex]R= 20x\\R=20(3.75)\\R=75[/tex]

So y is 75

Break even point is (3.75,75)

Learn more : brainly.com/question/15281855

148 is 37% of what amount

Answers

Answer:

400

Step-by-step explanation:

Answer: 148 is 37% of What Number? 37% of 400 is 148. 100% of 400 is 400, therefore 37 percent of 400 equals 148.

Brainlest would be appreciated.

A culture started with 5,000 bacteria. After 7
hours, it grew to 6,500 bacteria. Predict how
many bacteria will be present after 19 hours.
Round your answer to the nearest whole
number

Answers

Answer:

~9071

Step-by-step explanation:

A culture started with 5,000 bacteria.

After 7  hours, it grew to 6,500 bacteria.

=> The number of bacteria that grew after 7 hours: 6500 - 5000 = 1500

=> The number of bacteria that will grow after 19 hours: 1500 x 19/7 = ~4071

=> The number of bacteria that will present after 19 hours:

N  = 5000 + 4071 = ~9071

Hope this helps!

Answer:

10,200

Step-by-step explanation:

The two-way frequency table below shows the preferred communication method of employees at a company, based on years of employment with the company. Text Message Instant Message Phone Call Email Total 0 to 7 years 36 49 8 21 114 8 or more years 12 22 19 43 96 Total 48 71 27 64 210 What percentage of employees with 8 or more years at the company reported that email is their preferred method of communication? A. 44.79% B. 20.48% C. 48.84% D. 67.19%

Answers

Answer:

The percentage of employees with 8 or more years at the company that reported that email is their preferred method of communication is 30.48%. I suppose there was a small typing mistake in option B.

Step-by-step explanation:

The proportion is the number of desired outcomes divided by the number of total outcomes.

The percentage is the proportion multiplied by 100.

In this question:

210 employees with 8 of more year.

Of those, 64 have the email as their preferred method of communication.

64/210 = 0.3048

0.3048*100 = 30.48%

The percentage of employees with 8 or more years at the company that reported that email is their preferred method of communication is 30.48%. I suppose there was a small typing mistake in option B.

In this exercise we have to use the percentage knowledge to calculate the number of employees of the company over the years, in this way we find that this corresponds to:

The percentage of employees with 8 or more years at the company that reported that email is their preferred method of communication is 67,9%. Is D.

They are using the data informed in the text, we have:

210 employees with 8 of more year. Of those, 64 have the email as their preferred method of communication.

So doing the percentage calculation we have that;

[tex]210-64=146\\(146*100)/210=67,19\%[/tex]

See more about Percentage at brainly.com/question/8011401

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