Determine the final value of 1 , 800 [ 1 + 1 ( 1 + . 04 ) 3 . 04 ⌋ 1,800\left[\frac{1+\frac{1}{(1+.04) ^{3}}}{.04}\right\rfloor 1 , 800 [ .04 1 + ( 1 + .04 ) 3 1 ⌋ A) 45,007.22B) 85,004.84C) 102,075.67D) 12,145.88E) 16,826.67

Question

Determine the final value of   1 , 800 [ 1 + 1 ( 1 + . 04 )  3 . 04 ⌋ 1,800\left[\frac{1+\frac{1}{(1+.04) ^{3}}}{.04}\right\rfloor 1 , 800 [ .04 1 + ( 1 + .04 )  3 1 ​ ​ ⌋ A)  45,007.22B)  85,004.84C)  102,075.67D)  12,145.88E)  16,826.67

Larah Southern · Accepted Answer

Final Answer : B, Explanation :  The expression inside the brackets is a formula for the present value of an annuity. Calculating it gives approximately 47.225, and multiplying by 1,800 gives approximately 85,004.84.

Determine the final value of $3.04⌋1,800\left[\frac{1+\frac{1}{(1+.04) ^{3}}}{.04}\right\rfloor$

A) 45,007.22
B) 85,004.84
C) 102,075.67
D) 12,145.88
E) 16,826.67

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Learning Objectives

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Determine the final value of 1,800[1+1(1+.04) 3.04⌋1,800\left[\frac{1+\frac{1}{(1+.04) ^{3}}}{.04}\right\rfloor1,800[.041+(1+.04) 31​​⌋ A) 45,007.22B) 85,004.84C) 102,075.67D) 12,145.88E) 16,826.67

Definitions

Learning Objectives

Learning Objectives

Related questions

Determine the final value of $3.04⌋1,800\left[\frac{1+\frac{1}{(1+.04) ^{3}}}{.04}\right\rfloor$

A) 45,007.22
B) 85,004.84
C) 102,075.67
D) 12,145.88
E) 16,826.67