Determine the final value of 440 [ 1 − 1 ( 1 − . 075 ) 23 . 04 ⌋ 440\left[\frac{1-\frac{1}{(1-.075) ^{23}}}{.04}\right\rfloor 440 [ .04 1 − ( 1 − .075 ) 23 1 ⌋ A) 12,814.55B) -40,321.87C) -55,089.56D) -78,921.47E) 98,921.54

Question

Determine the final value of   440 [ 1 − 1 ( 1 − . 075 )  23 . 04 ⌋ 440\left[\frac{1-\frac{1}{(1-.075) ^{23}}}{.04}\right\rfloor 440 [ .04 1 − ( 1 − .075 )  23 1 ​ ​ ⌋ A)  12,814.55B)  -40,321.87C)  -55,089.56D)  -78,921.47E)  98,921.54

Pooja Junarkar · Accepted Answer

Final Answer : C, Explanation :  The expression inside the brackets is a formula for the present value of an annuity. Calculating it step-by-step gives a negative value, which when multiplied by 440 results in -55,089.56.

Determine the final value of $23.04⌋440\left[\frac{1-\frac{1}{(1-.075) ^{23}}}{.04}\right\rfloor$

A) 12,814.55
B) -40,321.87
C) -55,089.56
D) -78,921.47
E) 98,921.54

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Determine the final value of 440[1−1(1−.075) 23.04⌋440\left[\frac{1-\frac{1}{(1-.075) ^{23}}}{.04}\right\rfloor440[.041−(1−.075) 231​​⌋ A) 12,814.55B) -40,321.87C) -55,089.56D) -78,921.47E) 98,921.54

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Learning Objectives

Learning Objectives

Related questions

Determine the final value of $23.04⌋440\left[\frac{1-\frac{1}{(1-.075) ^{23}}}{.04}\right\rfloor$

A) 12,814.55
B) -40,321.87
C) -55,089.56
D) -78,921.47
E) 98,921.54