Zweli wants to buy an ordinary annuity that pays R6 000 a year for the next 20 years. The expect annual interest rates will be 6% over that time period. what is the maximum he will pay for annuity?

Solution

Solution

Principal : 2727.27

étapes des solutions

Translate the problem into an equation:

6000 = P (1 + 0.06 \cdot 20)

Solutionner pour

P, 6000 = P (1 + 0.06 \cdot 20) : P = 2727.27

Principal : 2727.27

Exemples populaires

The diamètre of a circle is 16 ft. Find its area in terms of pipi.Tim has been saving for a down payment on a car. He invested 4,000 in an account earning 2.5% interest compounded semi-annually. After 7 years, he is ready to buy his new car. How much does he have in his account for a down payment?The aire of a rectangular pool is 6716m^2 :If the width of the pool is 73m , what is its length?The circonférence of a circle is 23pi in. What is the area, in square inches? Express your answer in terms of pipi.a square tile has an aire of 36 square inches .what is the length of one side of the tile