Holly Krech is planning for her retirement, so she is setting up a payout annuity with her bank. She wishes to receive a payout of $1,800 per month for twenty years. She must deposit $218,437.048 and the total amount that Holly will receive from her payout annuity will be $432,000.

A. How large a monthly payment must Holly Krech make if she saves for her payout annuity with an ordinary annuity, which she sets up thirty years before her retirement?

B. how large a monthly payment must she make if she sets the ordinary annuity up twenty years before her retirement?

Answers

Answer 1

A. To save for her payout annuity with an ordinary annuity set up thirty years before her retirement, Holly Krech must make a monthly payment of $175.97.

B. If she sets up the ordinary annuity twenty years before her retirement, Holly Krech must make a monthly payment of $432.00.

What is the monthly payment required for an ordinary annuity set up 30 years before retirement?

To calculate the monthly payment for an ordinary annuity set up thirty years before retirement, we can use the formula for the present value of an ordinary annuity. Given the deposit amount of $218,437.048 and the total amount received from the annuity of $432,000, and solving for the monthly payment, we find that Holly must make a monthly payment of $175.97.

How much must be paid monthly for an ordinary annuity set up 20 years before retirement?

For an ordinary annuity set up twenty years before retirement, we use the same formula for present value. With the deposit amount and total amount received unchanged, we solve for the monthly payment, which comes out to be $432.00.

It's important to note that the monthly payment increases when the annuity is set up closer to the retirement date. This is due to the shorter time period available for saving, resulting in a higher required contribution to reach the desired payout amount.

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Related Questions

Which expression is equivalent to -36 - 8?
Choose 1 answer:
36 + 8
Pro
B
8 - 36
Pro
Tea
-36 +(-8)
D
-8 + 36

Answers

-36-8 = -44

-36+(-8) = -44
third option

A sinusoidal graph has a maximum point at (-22, 9) and a midline of y = -5. Determine the range of the graph. Be sure to show calculations or explain your answer. /2
2. If the range of a sinusoidal function is -5.6 ≤ y ≤ 3.8, determine the equation of the midline and the amplitude of the graph.
Please explain thanks!

Answers

1. The range of the graph is 28.

2. The equation of the midline is y = -0.45, the amplitude of the sinusoidal graph is 4.7.

How to determine the range of a sinusoidal graph with a maximum point at (-22, 9) and a midline of y = -5?

1. To determine the range of a sinusoidal graph with a maximum point at (-22, 9) and a midline of y = -5, we need to find the minimum point of the graph.

Since the midline is y = -5, the average of the maximum and minimum values of the graph will be -5. In other words, the midpoint between the maximum point and the minimum point will lie on the midline.

Let's assume the minimum point is (x, y). Since the maximum point is (-22, 9), the midpoint between the maximum and minimum points can be calculated as:

Midpoint = (x + (-22))/2, (y + 9)/2

Setting the midpoint equal to the midline value, we have:

-5 = (x - 22)/2, (y + 9)/2

Simplifying the equations:

x - 22 = -10

y + 9 = -10

Solving for x and y, we get:

x = 12

y = -19

Therefore, the minimum point is (12, -19).

The range of the graph can be calculated as the difference between the maximum and minimum y-values:

Range = 9 - (-19)

     = 28

Therefore, the range of the graph is 28.

How to find the range of a sinusoidal function is -5.6 ≤ y ≤ 3.8?

2. If the range of a sinusoidal function is -5.6 ≤ y ≤ 3.8, we can determine the equation of the midline and the amplitude of the graph.

The midline of the graph is the horizontal line that divides the range equally. In this case, the midline will be the average of the maximum and minimum values:

Midline = (3.8 + (-5.6))/2

       = -0.9/2

       = -0.45

Therefore, the equation of the midline is y = -0.45.

The amplitude of a sinusoidal function is half the range of the graph. In this case, the amplitude can be calculated as:

Amplitude = (3.8 - (-5.6))/2

         = 9.4/2

         = 4.7

Therefore, the amplitude of the graph is 4.7.

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Find the length of side AB.
Give your answer to 1 decimal place.
C
12 cm
62°
A
B

Answers

Answer:

5.63cm

Step-by-step explanation:

to find length of side AB

12[tex]cos[/tex][62°]

=5.63cm

Use the graph below to make a rough estimate for the slope m and the y-intercept b of the regression line for these points. Click on the magnifying-glass icon at the bottom right corner of the graph to see and enlarged version.

Answers

The slope (m) of the regression line can be estimated as approximately 0.6, while the y-intercept (b) can be estimated as around 2.5.

Based on the provided graph, what are the estimated values for the slope (m) and y-intercept (b) of the regression line?

Upon analyzing the graph, we can make a rough estimate for the slope (m) and y-intercept (b) of the regression line. The slope represents the rate of change between the independent variable (x) and the dependent variable (y), while the y-intercept indicates the value of y when x is zero.

From the graph, we observe that the regression line appears to have a positive slope, suggesting a positive correlation between the variables. By estimating the change in y divided by the change in x for two points on the line, we can approximate the slope. In this case, considering the rise and run between two points, the slope (m) is approximately 0.6.

The y-intercept (b) can be determined by identifying the point where the regression line intersects the y-axis. In this graph, the intersection seems to occur around the y-value of 2.5, providing us with an estimated y-intercept.

To gain a more precise understanding of the regression line's characteristics and verify these estimates, it is recommended to utilize statistical techniques such as linear regression analysis. These techniques can provide accurate slope and intercept values, along with additional statistical measures like the coefficient of determination (R-squared) to assess the line's goodness of fit.

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can anyone answer this? thanks :)

Answers

Answer:

39°

Step-by-step explanation:

The sum of AXE, AXC and CXF will be 180 because they together span a straight line (EF).

So: y + 90 + y - 12 = 180, which is an equation you can solve by simplifying it:

y + 90 + y - 12 = 180

2y + 78 = 180

y + 39 = 90

y = 90 - 39 = 51

So AXE = 51

AXC = 90

CXF = 51-12 = 39 (the answer)

Check: 51+90+39 = 180

In this scenario, your supervisor asked you to conduct an appropriate analysis to see if the relationship between conscientiousness and performance best described as a linear or curvilinear function. You collected data from 300 incumbents from the technology design company. The data includes the conscientiousness responses from the Revised NEO Personality Inventory (NEO-PI-R) and supervisory ratings of overall job performance.

How would you conduct an analysis to answer your supervisor’s question? Please describe the statistical steps.
If you find that a linear assumption is wrong, what would be an implication of the result to validity evidence and selection decision-making for your organization?

Answers

To determine whether the relationship between conscientiousness and performance is best described as linear or curvilinear, a statistical analysis can be conducted.

To begin the analysis, calculate the correlation coefficient between conscientiousness scores and job performance ratings. This will provide an initial indication of the relationship's direction and strength. A positive correlation suggests a linear or curvilinear relationship, while a weak or non-existent correlation may indicate no clear relationship.

Next, perform a regression analysis to model the relationship between conscientiousness and performance. Fit a linear regression model and assess the goodness of fit using metrics like R-squared.

If the linear model yields a high R-squared value and the residuals exhibit random patterns, it suggests a linear relationship between the variables. However, if the linear model produces a low R-squared and the residuals show a non-random pattern, it indicates a potential curvilinear relationship.

If the analysis indicates that the linear assumption is incorrect and a curvilinear relationship exists, it has implications for validity evidence and selection decision-making. Traditional selection methods that rely solely on linear relationships may not accurately predict job performance for individuals with extreme levels of conscientiousness.

Validity evidence may need to be re-evaluated, and selection procedures could be adjusted to consider the curvilinear nature of the relationship. Incorporating additional assessments or modifying selection criteria may be necessary to capture the nuances of the relationship and make more informed selection decisions.

In summary, to determine the nature of the relationship between conscientiousness and performance, conduct a statistical analysis involving correlation and regression. If a curvilinear relationship is found, it can impact the validity of selection decisions and require adjustments to selection procedures to accommodate the non-linear nature of the relationship.

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Jace went shopping for a new video game. The listed price of the video game was $41,
but the price with tax came to $44.28. Find the percent sales tax.

Answers

Answer:

It would be 8% .

Good luck ^^

Simplify the expression (x + 3) +9
A. 3x + 9
B. x + 9
C. x + 3
D. x + 12

Answers

Answer:

x +12

Step-by-step explanation:

Answer:

x + 12

Step-by-step explanation:

[tex](x + 3) + 9[/tex]

[tex]x + 3 + 9[/tex]

[tex] = x + 12[/tex]

the pair of polygons is similar. find the missing side measure.

Answers

Answer:

x = 3

Step-by-step explanation:

8.4 ÷ 6 = 1.4

4.2 ÷ 1.4 = 3

How many odd three-digit numbers have three digits different?

Answers

Answer:

320 odd three.

Step-by-step explanation:

9 but we cannot place the digits that are used in the two other digits and we can place only 7 digits. However, the result is not correct, because there are 320 odd three-digits numbers with different digits.

The highest value on the domain of the function is called its ____ ____. (2 words)
starts with ab

Answers

Answer:

It is called the maximum value.

Step-by-step explanation:

The highest value on the domain of the function is called its maximum value.

What is domain and range of the function?

The domain and range are defined for a relation and they are the sets of all the x-coordinates and all the y-coordinates of ordered pairs respectively. For example, if the relation is, R = {(1, 2), (2, 2), (3, 3), (4, 3)}, then:

Domain = the set of all x-coordinates = {1, 2, 3, 4}

Range = the set of all y-coordinates = {2, 3}

The maximum value of a function is the place where a function reaches its highest point, or vertex, on a graph. There is no point above the maximum value of the function. Thus the highest point on the graph is known as the maximum value of the domain of the function.

The maximum value is one of the extreme values of the domain of the function. The other extreme value is known as the minimum value. It is on one side of the graph and the maximum value is on the other side of the graph.

Therefore, the highest value on the domain of the function is called its maximum value.

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A water supply system is to be installed at a distance of 54 meters using 6 meters long PVC pipe with a diameter of 100mm. determine the number of length of PVC pipe to be used? a. 7 b. 8 c. 9 d. 10

Answers

To determine the number of lengths of PVC pipe to be used, we need to divide the total distance to be covered (54 meters) by the length of each PVC pipe (6 meters) and round up to the nearest whole number.

Number of lengths of PVC pipe = Total distance / Length of each PVC pipe

Number of lengths of PVC pipe = 54 meters / 6 meters

Number of lengths of PVC pipe = 9

Therefore, the number of lengths of PVC pipe to be used is 9.

So, the answer is option c. 9.

The moment of inertia depends on the distribution of masses relative to the axis of rotation. It is a measure of an object's resistance to rotational motion. The formula for the moment of inertia varies depending on the specific shape and distribution of masses.

If you can provide more details about the arrangement of masses and the axis of rotation, I can help you derive the expression for the moment of inertia in terms of m and l.

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You should answer part of this question in the group quiz. (a) What does it mean for a sequence to converge? What does it mean for a sequence to diverge? (b) Is there a sequence 01, 02, a3... with lan) <0.0001 for all n= 1,2,3,... that diverges? (c) Is there a sequence 1000 01, 02, 03... with an < for all n = 1,2,3,... n 45 135 405 that diverges? 2. * (L+) You should answer part of this question in the group quiz. Consider the sequence 15 1215 2' 8' 32 128 512 (a) What is the expression for the nth term in the sequence an, assuming the sequence starts at ag? (b) Does the series obtained by adding the terms of the sequence, Enzo An, converge or diverge? 3. * (L+) You should answer part of this question in the group quiz. Consider the IVP y" - xy' + y2 = 1 subject y(0) = 1 and y'(0) = 6. Find a series solution up to and including x4.

Answers

The series solution up to and including x⁴ is given by y(x) = 1 + 6x + (1/2)x² + (5/6)x³ + (1/4)x⁴ + ...

1.(a) A sequence is said to converge if its terms approach a specific value as the index of the terms increases without bound. In other words, as you go further along in the sequence, the terms get arbitrarily close to a particular limit value.

A sequence is said to diverge if its terms do not approach a specific value or if they move away from any possible limit as the index increases without bound. In other words, there is no single value that the terms of the sequence tend to as you go further along.

(b) Is there a sequence 01, 02, a3... with lan) <0.0001 for all n = 1,2,3,... that diverges No, there is no such sequence. If a sequence has a limit, then for any positive epsilon (ε), there exists a positive integer N such that for all n > N, |an - L| < ε, where L is the limit. In this case, if the limit exists, all terms beyond a certain index will be arbitrarily close to the limit, and it would violate the condition lan) < 0.0001 for all n = 1,2,3,... Therefore, if the condition holds, the sequence must converge.

(c) Is there a sequence 1000 01, 02, 03... with an < for all n = 1,2,3,... n 45 135 405 that diverges No, there is no such sequence. The sequence you provided starts with 1000, and each subsequent term increments by 1. Since the terms are increasing, the sequence does not approach any limit and therefore diverges.

2. (a)The nth term in the sequence an, assuming the sequence starts at a₀ we can observe that each term is obtained by multiplying the previous term by 4. So the expression for the nth term in the sequence can be given as

Aₙ = a₀ × 4ⁿ⁻¹

Given that a₀ = 15, the expression for the nth term in the sequence is:

aₙ = 15 × 4ⁿ⁻¹

(b) Does the series obtained by adding the terms of the sequence, Σan, converge or diverge

The series obtained by adding the terms of the sequence converges or diverges, we need to calculate the sum of the terms. Let's denote the sum of the series as S.

S = a₀ + a₁ + a₂ + ... + aₙ

Substituting the expression for an derived in part (a), we have:

S = 15 + 15 × 4⁰ + 15 × 4¹ + 15 × 4² + ... + 15 × 4ⁿ⁻¹

Using the formula for the sum of a geometric series, we can simplify this expression:

S = 15 × (1 + 4⁰ + 4¹ + 4² + ... + 4ⁿ⁻¹)

The sum of a geometric series with a common ratio greater than 1 is given by:

S = a × (1 - rⁿ) / (1 - r)

In this case, a = 15 and r = 4. Letting n approach infinity, we have:

S = 15 × (1 - 4ⁿ) / (1 - 4)

As n approaches infinity, the term 4ⁿ grows larger and larger. Since the common ratio (4) is greater than 1, the term 4ⁿ approaches infinity. Therefore, the sum of the series also approaches infinity.

Hence, the series obtained by adding the terms of the sequence diverges.

3) A series solution up to and including x⁴ for the initial value problem (IVP) y" - xy' + y² = 1 with the initial conditions y(0) = 1 and y'(0) = 6, we can use the power series method.

Let's assume that the solution y(x) can be expressed as a power series:

y(x) = a₀ + a₁x + a₂x² + a₃x³ + a₄x⁴ + ...

Differentiating y(x) with respect to x, we get:

y'(x) = a₁ + 2a₂x + 3a₃x² + 4a₄x³ + ...

Similarly, differentiating y'(x) with respect to x, we obtain:

y''(x) = 2a₂ + 6a₃x + 12a₄x² + ...

Now, let's substitute these expressions into the given differential equation:

y''(x) - xy'(x) + y(x)² = 1

(2a₂ + 6a₃x + 12a₄x² + ...) - x(a₁ + 2a₂x + 3a₃x² + 4a₄x³ + ...) + (a₀ + a₁x + a₂x² + a₃x³ + a₄x⁴ + ...)² = 1

Expanding and collecting the terms with the same power of x, we get:

(2a₂ - a₀) + (6a₃ - a₁ - 2a₂) x + (12a₄ - 2a₁ + 3a₃) x² + ...

To satisfy the equation, each coefficient of x must be equal to zero. Setting the coefficients to zero, we have:

2a₂ - a₀ = 0 (Coefficient of x⁰)

6a₃ - a₁ - 2a₂ = 0 (Coefficient of x¹)

12a₄ - 2a₁ + 3a₃ = 0 (Coefficient of x²)

Using the initial conditions y(0) = 1 and y'(0) = 6, we have:

a₀ = 1 (Initial condition)

a₁ = 6 (Initial condition)

Solving the equations above, we find

a₂ = a₀/2 = 1/2

a₃ = (a₁ + 2a₂)/6 = (6 + 2/2)/6 = 5/6

a₄ = (2a₁ - 3a₃)/12 = (2(6) - 3(5/6))/12 = 1/4

Therefore, the series solution up to and including x⁴ is given by:

y(x) = 1 + 6x + (1/2)x² + (5/6)x³ + (1/4)x⁴ + ...

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Which of the following is the inverse Laplace transformation -2s²+2 L-1 F (2} ? 83 Of+2 Of-2 0 -24 +1 ² O 2+ +1 ² O None of them

Answers

The inverse Laplace transformation of the given Laplace transform `-2s² + 2L^-1 F(s)` is `(t³ - t)u(t)`.

Explanation:

Laplace Transform: We are given the Laplace transform as:

`-2s² + 2L^-1 F(s)`

We can write the Laplace transform as a polynomial:

`-2s² + 2 / (s - 2)`

Inverse Laplace Transform:

Using partial fraction method, we can write:

`-2s² + 2 / (s - 2) = A / (s - 2) + Bs + C`

Multiplying by `s - 2`, we get:

`-2s² + 2 = A + Bs(s - 2) + C(s - 2)`

Substituting `s = 2`, we get:`

-6A = 2` or `A = -1/3`

Comparing coefficients of `s`, we get:

`B - 2C = 0` or `B = 2C`

Comparing constants, we get:`-2C - 2A = 0` or `C = 1/3`

Therefore, the partial fractions decomposition is:

`-2s² + 2 / (s - 2) = (-1/3) / (s - 2) + (2/3) s + (1/3)`

Taking inverse Laplace transform on both sides, we get:

`L^-1 {-2s² + 2 / (s - 2)} = L^-1 {(-1/3) / (s - 2) + (2/3) s + (1/3)}`

Using the linearity of inverse Laplace transform, we get:

`-2L^-1 {s²} + 2L^-1 {1 / (s - 2)} = (-1/3)L^-1 {1 / (s - 2)} + (2/3)L^-1 {s} + (1/3)L^-1 {1}`

We know that `L^-1 {1} = δ(t)` and `L^-1 {1 / (s - a)} = e^at u(t)`

where `a` is a constant. Substituting the values, we get:

`-2L^-1 {s²} + 2L^-1 {1 / (s - 2)} = (-1/3)e^{2t}u(t) + (2/3)L^-1 {s} + (1/3)δ(t)`

We know that `L^-1 {s^n} = t^n / n!`Therefore, `L^-1 {s} = 1`.

Substituting the values, we get:

`-2L^-1 {s²} + 2L^-1 {1 / (s - 2)} = (-1/3)e^{2t}u(t) + (2/3)t + (1/3)δ(t)`

Taking inverse Laplace transform of

`-2s² + 2L^-1 F(s)`, we get:

`L^-1 {-2s² + 2L^-1

F(s)} = L^-1 {(-1/3) / (s - 2) + (2/3) s + (1/3)}

= (t³ - t)u(t)`

Therefore, the option `(a) t³ - t` is the inverse Laplace transformation of `-2s² + 2L^-1 F(s)`.

Hence, the correct option is `(a) t³ - t`.

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f(x) = 0.5x -6 evaluate f (3) =

Answers

Answer:

F(3) = -4.5

Step-by-step explanation:

Replacing x with 3 in F(x) = 0.5x - 6 results in F(3) = 0.5(3) - 6, or -4.5

F(3) = -4.5

After t seconds a ball thrown in the air from ground level reaches a given
height (h) in feet. Given the equation h = -1612 + 144 + 100 at what time does the
ball reach 100 feet?

Answers

Answer:

9 sec.

Step-by-step explanation:

I think you wrote the equations incorrectly.  It probably is

[tex]h = -16t^{2} + 144t + 100[/tex]

If that is true, then [tex]100 = -16t^{2} + 144t + 100[/tex]

                                    0 = -16[tex]t^{2}[/tex] + 144t

                                       -16t(t - 9) = 0

                                            t = 0 or t = 9

 

An inch is equal to about 2.54 centimeters. Write an expression which estimates the number of centimeters in X inches

Answers

Answer: 2.54(x)

Step-by-step explanation:

Since an inch is equal to about 2.54 centimeters, the expression which estimates the number of centimeters in X inches will be gotten by multiplying 2.54 by X. This will be:

= 2.54 × X

= 2.54(x)

For example, if there are 4 inches, the number of centimeters in it will be:

= 2.54(x)

= 2.54 × 4

= 10.16 inches

4, what is the length of EF? Please help

Answers

Answer:

EF = 8

Step-by-step explanation:

BC is half of AB, which means that DE will be half of EF. So if DE is 4, which is half of EF, then EF must be 8.

hope this helped! :)

pls help i really really need it, the question is on the picture
will mark the brain thing
#LLJW

Answers

Step-by-step explanation:

Use ToA method (tan = opposite / adjacent)

For this question we have to use pythagoras' Theorem to find the adjacent side.

take a as the length of the adjacent side.

given b = 12

c = 13

By pythagoras' Theorem,

[tex] {c}^{2} = {a}^{2} + {b}^{2} \\ {a}^{2} = {c}^{2} - {b}^{2} \\ {a}^{2} = {13}^{2} - {12}^{2} \\ {a}^{2} = 169 - 144 \\ {a}^{2} = 25 \\ a = \sqrt{25} \\ = 5[/tex]

Now we can find tan(x)

tan(x) = Opposite / adjacent

[tex] = \frac{12}{5} [/tex]

An art gallery is increasing the asking price of its paintings by 60%. A painting now costs $400.00. How much was the painting before the increase??

Answers

Answer:

$240

Step-by-step explanation:

60% = 0.6

400 divided by 0.6 = 240

ill give brainliest

Write and solve an equation to determine the unknown variable. Then find the measure of the unknown angles.

Your options are:

A. x + 7 + 2x - 40 = 180 One angle is 78 degrees and the other is 102 degrees

B. x + 47 = 180 The unknown angles are both 133 degrees

C. x + 7 + 2x - 40 = 90 One angle is 48 degrees and the other is 42 degrees

D. x + 7 = 2x - 40 The unknown angles are both 54 degrees ​

Answers

Answer:

Answer:

To determine to measure of the unknown angle, be sure to use the total sum of 180°. If two angles are given, add them together and then subtract from 180°. If two angles are the same and unknown, subtract the known angle from 180° and then divide by 2.

1/2 + 1/5 fraction model pls help!

Answers

1/2 + 1/5 = 5/10 + 2/10 = 7/10

Answer:

7/10

Step-by-step explanation:

1x5/2x5 + 1x2/5x2

=5/10+2/10

=7/10

Help me please!!!!!!!!!!!

Answers

Answer:

A reflection over the y-axis.

Which expression represents the area of the shaded region?
(picture below)

Answers

Answer:

B

Step-by-step explanation:

total area minus white area give you shaded area

help with this please lol

Answers

Answer:

x = 107

Step-by-step explanation:

44+29+107=180

a triangle equals 180 with all the degrees added together :)

please help, tysm if you do :D

Answers

Answer:

3c + 14d

Step-by-step explanation:

Hello There!

We can simplify this expression by combining like terms

Now what are like terms?

They are terms that have the same variable ex. 4a and 2a are like terms as they have the same variable (a)

Now lets look back at the expression and see if there are any like terms

which there are (4c and -c) and (6d and 8d)

so lets combine them

4c - c =3c

6d + 8d = 14d

so the simplified version would be 3c + 14d

Answer:

B) 3c+14d

Step-by-step explanation:

We use the addition property for the following question

First we rearrange the following problem and we get

4c-c+6d+8d

The easiest way is to just add and subtract or if you want have a better understanding, you can factor our the like terms which gives us

(4-1)c+(6+8)d

and then we can simplify to get

3c+14d

How many possible pairs of people can we have in a group of 23(think c or p)

Answers

Answer:

Step-by-step explanation:

To determine the number of possible pairs of people in a group of 23, you can use the concept of combinations. The formula to calculate combinations is given by:

C(n, r) = n! / (r!(n - r)!)

where C(n, r) represents the number of combinations of choosing r items from a set of n items, and the exclamation mark (!) denotes the factorial of a number.

In this case, you want to find the number of combinations of 2 people chosen from a group of 23. Using the formula, the calculation would be:

C(23, 2) = 23! / (2!(23 - 2)!)

        = 23! / (2! * 21!)

        = (23 * 22 * 21!) / (2 * 1 * 21!)

        = (23 * 22) / (2 * 1)

        = 23 * 11

        = 253

Therefore, there are 253 possible pairs of people that can be formed in a group of 23.

what’s the answer ??

Answers

Answer:

answer A shows a rotation

A because B is a mirror, c is a translation

54 out of the 72 teachers in a school staff meeting were first-year teachers. What percentage of the teachers in The meeting were first-year Teachers? ​

Answers

Answer:

75%

Step-by-step explanation:

54/72 = 0.75

Q9.
£4000 is invested at 2% compound interest.
(a) What is the value of the investment after 3 years?

Answers

Answer:

£4244.83

Step-by-step explanation:

Use the compound amount formula:

A = P(1 + r)^t.  Here, P = £4000, r = 0.02 and t = 3 yrs

So:  A = £4000(1 + 0.02)^3, which comes to:

       A = £4000(1.061) = £4244.83

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