You are given the future value of an annuity, A, the monthly payment, R, and the annual interest rate, r. Find the number of monthly payments, n. Round your answer to the nearest whole number if necessary.A = $3500; R = $70; r = 7%
A. 44 months
B. 49 months
C. 47 months
D. 48 months
Answer: A
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Solve the problem.The average price (in dollars) to rent a studio in a certain city can be approximated by the equation where t is the number of years since 1990. Solve this equation for t and use the new equation to determine approximately what year it will be when the average price of a studio in this city reaches $1240.00.
A. 2010 B. 2011 C. 2013 D. 2012
Evaluate the following expression.
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A. 3 B. - 2 C. 2 D. -3 E. 0
Simplify.2 × 4 + 7 × 7 + 4
A. 396 B. 244 C. 242 D. 61
Evaluate the logarithm by using properties of logarithms and the following fact. Round your answer two decimal places.
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A. 10.40 B. 1.91 C. 4.60 D. 6.76 E. 5.20