GP-133 Clme N You are given the future value of an annuity, A, the monthly payment, R, and the annual interest rate, r. Find the number of monthly payments, n. Round your answer to the nearest whole number if necessary. A- $4000; R = $70; r = 7% 49 months 54 months 52 months 53 months

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
icon
Related questions
Question
mount,
frequency of deposits, annual interest rate, and time period are given.
amount: $125; monthly; 10%; 7 years
$15,518.82
$15,718.93
$15,118.80
$15,818.92
Yang Vang
GP-133
L0.38mm A Or
MADE IN PRE
You are given the future value of an annuity, A, the monthly payment, R, and the
annual interest rate, r. Find the number of monthly payments, n. Round your answer
to the nearest whole number if necessary.
A - $4000; R = $70; r 7%
%3D
49 months
54 months
52 months
53 months
Transcribed Image Text:mount, frequency of deposits, annual interest rate, and time period are given. amount: $125; monthly; 10%; 7 years $15,518.82 $15,718.93 $15,118.80 $15,818.92 Yang Vang GP-133 L0.38mm A Or MADE IN PRE You are given the future value of an annuity, A, the monthly payment, R, and the annual interest rate, r. Find the number of monthly payments, n. Round your answer to the nearest whole number if necessary. A - $4000; R = $70; r 7% %3D 49 months 54 months 52 months 53 months
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Recommended textbooks for you
Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
Algebra
ISBN:
9780134463216
Author:
Robert F. Blitzer
Publisher:
PEARSON
Contemporary Abstract Algebra
Contemporary Abstract Algebra
Algebra
ISBN:
9781305657960
Author:
Joseph Gallian
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Algebra And Trigonometry (11th Edition)
Algebra And Trigonometry (11th Edition)
Algebra
ISBN:
9780135163078
Author:
Michael Sullivan
Publisher:
PEARSON
Introduction to Linear Algebra, Fifth Edition
Introduction to Linear Algebra, Fifth Edition
Algebra
ISBN:
9780980232776
Author:
Gilbert Strang
Publisher:
Wellesley-Cambridge Press
College Algebra (Collegiate Math)
College Algebra (Collegiate Math)
Algebra
ISBN:
9780077836344
Author:
Julie Miller, Donna Gerken
Publisher:
McGraw-Hill Education