Given the monthly payment. r the annual interest rate, r, and the number of monthly payments, nt, find the future value of the annuity. solve using the formula for the future value of an
ordinary annuity
r=s1,325, r = 7.5% nt = 15
o a 515,548 89
o b. $21.532.42
oc. $20,731.85
od. $21.732.08

  $20,768.53

Step-by-step explanation:

The formula for the future value of an ordinary annuity is ...

  FV = R((1 +r/12)^(nt) -1)/(r/12)

  = 1325((1+0.00625)^15-1)/0.00625 = 1325(0.097964758/0.00625)

  = 1325(15.674361)

  = 20,768.529

The future value of the annuity is $20,768.53.

Comment on the math

We cannot tell where the answer choices came from.

It appears that 20,731.85 came from using a monthly interest rate of 0.006, rather than 0.00625. The higher numbers require an interest rate in excess of 13.6%. The lower number is impossible, as the total of payments is $19,875.

The best wrong answer is choice C.

answer:

it is general formula that is used to write value to its excet position

a11 a12 a13

a21 a22 a23

it is the example of order 2 by 3 matrix in this

a11 means value occur in 1 st row 1st column

a12 means value occurs in 1st row 2nd column

a13 means value occur in 1st row and 3rd column

a21 means value occurs in 2nd row and 1st column

a22 means value occurs in 2nd row and in 2nd column

a23 means value occurs in 2nd row and in 3rd column

98%

step-by-step explanation: