Calculate the amount of money a person has left after death, Mathematics

Assignment Help:

When Ms. Jones retired, she received a lump sum of $1,000,000 from her pension plan.  She then invested this sum in an annuity account that would pay her an equal amount at the end of each year for the next 25 years, so that the initial capital of $1,000,000 will be totally depleted.  The interest rate for this annuity account is 4% per year.  Unfortunately, Ms. Jones passed away after receiving the 20th annual payment.  Her estate lawyer must now determine the amount of money left that will go to Ms. Jones's heirs.  Show below what this amount is.

ANSWER:


Related Discussions:- Calculate the amount of money a person has left after death

Quadratic equations by completing the square method, Can we solve the Quadr...

Can we solve the Quadratic Equations by completing the square method? if yes explain it.

Childrens errors are a natural and inevitable part, Childrens errors are a ...

Childrens errors are a natural and inevitable part of their process of learning. In the process of grasping new concepts, children apply their existing understanding, which may

Determine the angle in hexagonal-shaped nut, The figure provided below show...

The figure provided below shows a hexagonal-shaped nut. What is the measure of ∠ABC?   a. 120° b. 135° c. 108° d. 144° a. The measure of an angle of a regula

Theorem of reduction of order, In this theorem we identify that for a speci...

In this theorem we identify that for a specified differential equation a set of fundamental solutions will exist. Consider the differential equation  y′′ + p (t ) y′ + q (t

Advanced functions, writ the equation that describes the motion of a point ...

writ the equation that describes the motion of a point on the wheel that has a center of 4m off the ground, has radius of 15 cm, makes a full rotation every 10 seconds and starts a

Semi-infinite slab solution in fourier number, Consider the temperature dis...

Consider the temperature distribution in a 1D flat plate, insulated at x = L and exposed to convective heat transfer at x = 0. On the axes below, sketch what the distribution looks

Fractions, Mr. And Mrs. samuel visited Florida and purchased 120 oranges. ...

Mr. And Mrs. samuel visited Florida and purchased 120 oranges. They gave 1/4 of them to relatives, ate 1/12 of them in the hotel, and gave 1/3 of them to friends. The shipped the

Find the value of x of an arithmetic progressions, Find the value of x if 2...

Find the value of x if 2x + 1, x 2 + x +1, 3 x 2 - 3 x +3 are consecutive terms of an AP. Ans:  a 2 -a 1 =  a 3 -a 2 ⇒   x 2 + x + 1-2 x - 1 = 3x 2 - 3x + 3- x

Differential equation.., 3.6Find the general solution of the differential e...

3.6Find the general solution of the differential equation Y" + 4y = Sec2 2x

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd