Determine the final value of $440\left[\frac{1-\frac{1}{(1-.075)^{23}}}{.04}\right\rfloor$
A) 12,814.55
B) -40,321.87
C) -55,089.56
D) -78,921.47
E) 98,921.54

Question

Quizplus · Accepted Answer

The expression inside the brackets is a formula for the present value of an annuity. Calculating it step-by-step gives a negative value, which when multiplied by 440 results in -55,089.56.

Determine the Final Value Of 440[1−1(1−.075)23.04⌋440\left[\frac{1-\frac{1}{(1-.075)^{23}}}{.04}\right\rfloor440[.041−(1−.075)231​​⌋ A) 12,81455 B) -40,321

Determine the Final Value Of $440\left[\frac{1-\frac{1}{(1-.075)^{23}}}{.04}\right\rfloor$ A) 12,81455
B) -40,321