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# LA Tech - MATH 130 - math 130 test 2 - Study Guide

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LA Tech - MATH 130 - math 130 test 2 - Study Guide

##### Description: these are an overview of the notes for test two
This preview shows pages 1 - 2 of a 6 page document. to view the rest of the content Math 130 test 2 8.5 Annuities The sequence of equal payments or deposits made at equal times Value of an annuity:  A= P ( 1+ r
n
) nt 1 r
n
Ex.  A= \$48008.61 P= \$100 P ( 1+ r
n
) nt 1 r
n
R=8% 100 [ ( 1+ ( .08 12 ) ) ( 12 18 ) 1 ] .08 12  =\$48008.61 T=18 years N=12 *when plugging the equation into a calculator, it may be easy to find the numerator first and then the denominator. How much you contributed to earn X amount:  ¿ ¿ P= A( r
n
) ¿ Ex. P= \$3000 per year you contributed= (P) (n) (t) = (3000) (1) (20) =60000 R= 4% A­ contribution= interest T= 20 years 89334.24­60000= \$29334.24 N=1  A= 89334.24 Ex.  A= \$250000 ¿ ¿ A( r
n
) ¿ R= 7.5% 250000(.075/12) T= 10 years [(1+ (.075/12))  (10x12) ­1] N=12 =\$1405.04 8.6 Cars Installment loans: a loan you can pay off with equal periodic payments *car loans are monthly payments PMT = ( r
n
) [ 1− ( 1+ ( r n ) ¿ nt ) ]

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##### Description: these are an overview of the notes for test two
6 Pages 45 Views 36 Unlocks
• Notes, Study Guides, Flashcards + More!
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