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October 25, 2014

October 25, 2014

Posted by **help me i'm stuck** on Saturday, April 30, 2011 at 11:39pm.

(a) How much is in the account after the last deposit is made?

$ 1

(b) How much was deposited?

$ 2

(c) What is the amount of each withdrawal?

$ 3

(d) What is the total amount withdrawn?

$ 4

- math -
**Mgraph**, Sunday, May 1, 2011 at 7:34am(a)The accumulated value=

1100(1+0.075/12)^144+ 100*((1+0.075/12)^144-1)/(0.075/12)=$25942

(b)1100+100*144=15500

(c)The present value of the annuity=

25942=W*(1-(1+0.075/12)^(-60))/(0.075/12)

where W-the amount of each withdrawal

W=519.82

(d)519.82*60=31189.47

Please check

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