Register
Mr Hulk buys an annuity. The annuity costs $1000 and has 8% interest compounded annually. The annuity is for 5 years. If Mr Hulk has $0 left in this annuity, then how much is receiving in payments every
122k views
2 votes
Mr Hulk buys an annuity. The annuity costs $1000 and has 8% interest compounded annually. The annuity is for 5 years. If Mr Hulk has $0 left in this annuity, then how much is receiving in payments every year?

the answer has to be positive ​

User Jenssen
by
8.5k points

1 Answer

4 votes
625because 1000 divided by 8 x 5 would be your answer
User Dita
by
8.1k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!