Evaluate $\$ 110\left[1-\frac{3}{\left(1+\frac{0.085}{12}\right)^{5}}\right]-\frac{\left(1+\frac{0.085}{12}\right)^{4}}{\frac{0.085}{12}}$
A) -$404.21
B) -$353.78
C) -$185.74
D) -$208.56
E) -$145.22

Question

Quizplus · Accepted Answer

The expression involves calculating a compound interest factor and an annuity factor. After evaluating these, the result is approximately -$353.78.

Evaluate $110[1−3(1+0.08512)5]−(1+0.08512)40.08512\$ 110\left[1-\frac{3}{\left(1+\frac{0.085}{12}\right)^{5}}\right]-\frac{\left(1+\frac{0.085}{12}\right)^{4}}{\frac{0.085}{12}}$110[1−(1+120.085​)53​]−120.085​(1+120.085​)4​ A) -$40421 B) -$353

Evaluate $\$ 110\left[1-\frac{3}{\left(1+\frac{0.085}{12}\right)^{5}}\right]-\frac{\left(1+\frac{0.085}{12}\right)^{4}}{\frac{0.085}{12}}$ A) -$40421
B) -$353