Question

What must you invest today to receive an annuity of $4,500 for 10 years compounded at 8% quarterly when all withdrawals will be made at the end of each period?

Answer 1

Kent is making a scale model of his favorite train. The actual train is 12 feet long and 4 feet wide. Kent wants his model to be 6 inches in length. Which would if he uses the same ratio?

Explanation:

Kent is making a scale model of his favorite train. The actual train is 12 feet long and 4 feet wide. Kent wants his model to be 6 inches in length. Which would be the width if he uses the same ratio?