300%25x because 25 per each job which is xxx and 300 is how much she needs so total amount divided by amount needed
<span>0.00020869565 - that is the whole answer, but if you were to round to the nearest tenth it would be 0.0</span>
<span>Tomio, age 28, takes out $50,000 of straight-life insurance. His annual premium is $418.20. Using the tables found in the textbook, determine the cash value of his policy at the end of 20 years.
A. $26,500
B. $30,000
C. $13,250
D. $26,000
</span>50,000/1,000 = 50
265*50 = $13,250
So the cash value of this policy is $13,250
<span>
The correct answer is:
</span><span>C. $13,250</span>
Interest = principle * rate * time...
I = PRT...we are going to rearrange this because we are looking for the principle...
I / (RT) = P
I = 22.40
R = 2.8%...turn to a decimal = 0.028
T = 1
sub and solve
22.40 / (0.028(1) = P
22.40 / 0.028 = P
800 = P....amount of original deposit is $ 800 <==
