a kind benefactor sets up a prize in an international school. the benefactor donates $10 000. the school invests the money in an account paying 5% interest. if $750 was paid out annually, for how long can the full prize be given out?

Answer 1

The present value An of the annuity=10,000

An=p*(1-(1+i)^-n)/i

10000=750*(1-1.05^-n)/0.05
500=750*(1-1.05^-n)
2/3=1-1.05^-n
1.05^-n=1/3
1.05^n=3
n=ln3/ln1.05=22.51708531

Answer 2

2+2=5
Tf, 1 cig= Anze

Answer 3

its quite easy to do check slapni