Jim and dianna want to save for their child’s college expenses. they find an annuity that pays 6% annual interest, compounded monthly.
if they invest in this annuity by contributing $300 per month for 10 years, how much money will they have for the college expenses?

future value = $49163.8

so required amount will be $491200 nearest $100

Step-by-step explanation:

given data

annual interest rate = 6 %

annuity = $300 per month

time period = 10 years

to find out

how much money will they have for the college expenses

solution

we know that effective rate will be

effective rate =

effective rate = 5 ×

number of payment = 12 × 10 = 120

so future value will be express as

future value = annuity ×   .........1

future value = 300 ×

future value = 300 × 163.8793  

future value = $49163.8

so required amount will be $491200 nearest $100

answer: 7 x 2/5 = 2.8 hours, is your answer. your welcome! : 3

step-by-step explanation: first work out how long it took to hose 1/7 of the lawn which is 2/5 hours. times that by 7 to get the whole lawn.

sorry i don't know the other answer. i didn't learn what a proportional relationship is.