subject
Mathematics, 11.02.2021 08:40 officialrogerfp3gf2s

Question 7 (4 points) Carmen is planning to invest $200 in a retirement account at the end of each month for the next 20 years. The account is earning 3.15%
Interest, compounded annually. He used the following formula and variables to solve for the future value of the account after 20 years,
FVOA - C. (1+)*1
FVOA - Future Value of an Ordinary Annuity
C = 200
n=1
20
1 = 0.0315
He found that the future value of this account will be 55456.83. Is Carmen's solution correct? If not, explain what he did wrong and provide the
correct solution (4 points)


Question 7 (4 points)

Carmen is planning to invest $200 in a retirement account at the end of eac

ansver
Answers: 2

Another question on Mathematics

question
Mathematics, 21.06.2019 17:30
Scrub a dub toothbrushes are $4.00 each. there is a 10% discount, but there is also a 6% sales tax after the discount is applied. what is the new price after tax? round to the nearest penny
Answers: 1
question
Mathematics, 21.06.2019 18:00
List the sides of δrst in in ascending order (shortest to longest) if: m∠r =x+28°, m∠s = 2x+16°, and m∠t = x+12°
Answers: 1
question
Mathematics, 21.06.2019 21:00
The radius of a sphere is 3 inches. which represents the volume of the sphere?
Answers: 1
question
Mathematics, 22.06.2019 02:30
Find the product. type your answer in the space provided. use / for a fraction bar (example: 1/2) and ^ for an exponent (example: x^5). do not put spaces in your answer. (x -1 y 5)^2 · (2xy -2)^5
Answers: 1
You know the right answer?
Question 7 (4 points) Carmen is planning to invest $200 in a retirement account at the end of each...
Questions
question
Mathematics, 07.04.2020 18:43
question
Biology, 07.04.2020 18:43
Questions on the website: 13722367