Q1: payments of $ 670 are being made at the end of each month for 5 years at an interest of 8% compounded monthly. calculate the present value.

$50,281.04

Step-by-step explanation:

5 years is equivalent to (5 × 12) = 60 months

Now, the first payment $670 is compounded for 60 months at the rate of % monthly interest.

So, it will become .

Similarly the second payment of $670 will become

Therefore, in this way after 60 months i.e. 5 years the total sum will be

=

=

=

= $50,281.04 (Answer)

{Since, the sum of the G.P. series }

(d)

step-by-step explanation:

given: the line in the graph passes through points (5,30) and (6,26).

then, the equation of line is:

now, put y=a(n) and x=n,

hence, option d is correct.