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Ellucian Ethos iden x 58 Homepage - Winter X m Vretta Sign In or Sign Up X C Math PI ssignment/4111 Question 7 of 7 The Calva

Answer 1

Answer #1

FV of the amount invested today, with monthly compounding = 40000(1+0.03/12)^(1312) =	$ 59,050.49
Size of monthly payments [annuity due] = 59050.49((0.03/12)(1+0.03/12^)48)/((1+0.03/12)^48-1)/(1+0.03/12) =	$ 1,303.78

Answer 2

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