Tony saved enough money to place $125,500 in an investment generating 10% 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? A.165.
B.145.
C.192.
D.162.

The answer is 162 months, option (D)

Explanation:

Solution

Given that:

Tony saved an amount of money =$125,500

Investment generates a =10% compounded monthly

A monthly income of =$1350

Now, we have to find How many months will Tony have this income coming to him

Thus

The current  income value will be equal to = $125,500.

So,

125,500 = 1350 + 1350/1.0077 + 1350/1.0077^2 + 1350/1.0077^3 + ... + 1350/1.0077^n

125,500 = 1350 * 1.0077 / 0.0077 * ( 1 - (1/1.0077)^n )

Therefore n= 162 months

the answerr would be 1

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.