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11.03.2021 14:36
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You put $300 at the end of each month in an investment plan that pays 7% interest,

You put $300 at the end of each month in an investment plan that pays 7% interest, compounded monthly. how much will you have after 18 years? round all answers to the nearest cent, when applicable.
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vicki56
vicki56
4,6(7 marks)

$129,216.22

Explanation:

Given the following ;

Annuity(A) = $300

Annual rate = 7% = 0.07

Monthly rate = 0.07÷12 = 0.0058333

Period(n) = 18 years = 216 months

FVA = How much the annuity(A) invested each month will be worth at a monthly rate of 0.0058333 after 18 years.

FVA = A ×[ (1 + r)^n - 1] ÷ r

FVA = 300×[(1+0.0058333)^216

- 1]÷0.0058333

FVA = 300 × [1.0058333^216 - 1] ÷ 0.0058333

FVA = (300 × 2.512514178331248) ÷ 0.0058333

FVA = 753.757 ÷ 0.0058333

FVA = $129,216.22

haylieshaven1
haylieshaven1
4,4(72 marks)

$129,000

Explanation:

P=$300

r=7%/12

=0.07/12

=0.0058

n=12×18=216

A×{(1+r)^n-1}/r

$300×{(1+0.0058)^216-1}/0.0058

$300×{(1.0058)^216-1}/0.0058

$300×(3.489-1)/0.0058

$300×(2.489)/0.0058

$300×429.14

$300×430 to the nearest cent

$129,000

jasminethomas383
jasminethomas383
4,5(34 marks)

The best answer to the question: How should the parties proceed, when talking about the buying of a house in which the buyer has already entered a contract with the seller of the property, before having an inspection performed on it, to find out that there are some issues with the property itself, would be, C: The fixes do not become part of the sales agreement.

Explanation:

To begin with, the buyer should have had the inspection done before entering an agreement, and much more signing the contract. Now that the contract is in place, and since the buyer did not have the inspection done beforehand, the terms that would have made the seller responsible for making fixes on the damaged property are not part of the contract. The buyer signed the contract without these adendums and therefore, it is no longer the seller´s responsibility, as part of the original contract, to take care of them. The buyer must abide by the original contract because he did not insist on having any such provisions placed on it that would have made the seller responsible for the fixes.

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