The terms of a single parent's will indicate that a child will receive an ordinary annuity of $17,000 per year from age 18 to age 24 (so that the child can attend college) and that the balance of the estate goes to a niece. if the parent dies on the child's 15th birthday, how much money must be removed from the estate to purchase the annuity? (assume an interest rate of 8%, compounded annually. round your answer to the nearest cent.) $

  $75,881.59

Step-by-step explanation:

The value of the fund on the child's 17th birthday can be found from the amortization formula using r=.08 and t=7.

  17000 = Pr/(1 -(1+r)^-t) = P(.08)/(1 -1.08^-7) = 0.1920724P

  P = 17000/0.1920724 ≈ 88,508.29

There are 2 years between the 15th birthday and the 17th birthday, so the initial fund earns 8% interest for that time. It is multiplied by 1.08^2 to get the above value. The initial fund is then ...

  88,508.29 = 1.08^2 × initial fund

  initial fund = 88,508.29/1.08^2 ≈ 75,881.59

The amount of $75,881.59 must be used to purchase the annuity required to fund the payments to the niece.

child does not get an education so she can use the molla on junk

trapezoid

step-by-step explanation:

first i plotted all my points on a grid graph

i made sure all of them were in the correct quadrant

then i saw it was a trapezoid or a quadrilateral