Suppose that a family wants to start a college fund for their child. if you invest in an account that pays 5.5% and want the fund to have a value of $53,000 after 18 years, how much should you deposit monthly? assume an annuity due.

a.
$142.98
c.
$143.49
b.
$143.30
d.
$145.52

Option c - $143.49          

Step-by-step explanation:

Given : Suppose that a family wants to start a college fund for their child. If you invest in an account that pays 5.5% and want the fund to have a value of $53,000 after 18 years

To find : How much should you deposit monthly?

Solution :  

Formula of future value of annuity

Where, Future value FV = $53,000

Rate 5.5%=0.055        

Time = 18 years        

Now, put all the values we get,    

The nearest value from the options is $143.49.

So, The monthly deposit is $143.49

Therefore, Option c is correct.

the correct option is 2.

step-by-step explanation:

according to the given information triangle abc is a right angle triangle with right angle at a. segment ab is 5 and segment ac is 7. point d is on segment bc and angles adb and adc are right angles.

it is given that triangles abd, cad, and cba are similar.

two triangles are similar if their corresponding sides are proportional.

in triangle cba, using pythagoras theorem

                      )

triangle abd and cba are similar,

                            (2)

triangle cad and cba are similar,

                      )

using (1), (2) and (3), we get

hence proved.

therefore option 2 is correct.