Tony saved enough money to place $125,500 in an investment generating 9.25% compounded monthly. he wants to collect a monthly income of $1,350, at the beginning of each month, for as long as the money lasts. how many months will tony have this income coming to him?

It will last for 161.70 months

Explanation:

we need to solve for n in an annuity-due

C  $1,350.00  

timen

rate9.25% annual -->0.0925/ 12 = 0.007708333

PV$125,500.0000  

[tex]-n= \frac{log0.288891951699477}{log(1+0.0077083)  

-n =-161.7057904

n = 161.7057

his average speed in km per hour is ≈ 55.4 km/h and about 15.4 m/s.

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