Questions:

You can save $200 monthly to put into your retirement account and you have 35 years until you retire. Assume an 8% rate of return and a monthly compounding period.

a. How much money will you have in retirement?
b. What things could you change to increase the amount you will have in retirement?
c. Make just one change (amount, time, or interest rate) and write down how much money you will now have in retirement.

Answers

Answer 1

Answer:

Step-by-step explanation:

Q1 .  

Money saved every month = $200  

Time period until you retire = 35 years

Rate of Interest = 8%

The money is compounded monthly.

a). Amount for retirement = Saving annuity

Saving or making  a series of payments at regular intervals is called annuity.

Annuity formula is :

P_{n} = d((1 + r/k)^{nk} - 1)/(r/k)

PN is the balance in the account after N years.

d is the regular deposit (the amount you deposit each month)

r is the annual interest rate in decimal form(R/100)

k is the number of compounding periods in one year

Here d= $200 , r = 0.08 , n = 35 years , k = 12 (compounded monthly)

P_{n} = 200((1 + 0.08/12)^{(35*12)} - 1)/(0.08/12)

= $ 458776.50

b). Looking at the formula used in above option we can -

Increase number of years to increase retirement amount

Increase the monthly amount deposited

Increasing rate of interest also increases the amount

Compounding Annually , half yearly or quaterly will decrease the amount

c). Let us change the amount from $200 to $300 . Then amount will be

P_{n} = d((1 + r/k)^{nk} - 1)/(r/k)

P_{n} = 300((1 + 0.08/12)^{(35*12)} - 1)/(0.08/12)

= $ 688164.75


Related Questions

Due to a manufacturing error, three cans of regular soda were accidentally filled with diet soda in a 12 pack. Suppose that two cans are randomly selected from the 12 pack. Answer A-C.
(a) determine the probability that both sodas contain diet soda p(both diet) = ????
(b) determine the probability that both contain regular soda p(both regular) = ????
(c) determine the probability that exactly one is diet and one is regular p(one regular and one diet) = ????

Answers

Answer:

a- 3/4

b- 1/4

c- 3/16

Step-by-step explanation:

Helpppppppppppp!!!!!!!!!!!

Answers

A: quadrilateral
B: parallelogram
C: quadrilateral

I hope this helps

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Answers

Answer:

V=113.1

Step-by-step explanation:

Answer:

113

Step-by-step explanation:

A mason can lay 20 bricks in 30 minutes. At this rate, how long will it take him to lay 100 bricks?​

Answers

Ok so you can do 100 divided by 20 which is equal to 5 so now you can multiply that by 30 which is 150 so if you need it in hours and minutes you’d divide 150 by 60 because there are 60 minutes in an hour and you get 2hours and 30minutes or you can leave it at 150minutes

An art teacher recorded whether the students in three of her classes prefer water color or oil painting. The art teacher plans to create a two-way table to analyze her results. Which variables can the art teacher use as the row and column headings of the table? O painting preference and total number of students O painting preference and number of students in class 1 O class number and painting preference O class number and number who prefer oil​

Answers

Answer:

C. class number and painting preference

Step-by-step explanation:

just got done with the quiz

how to solve
y x 6 for y = 2/3

Answers

*☆*――*☆*――*☆*――*☆*――*☆*――*☆*――*☆*――*☆**☆*――*☆*――*☆*――*☆

Answer: 4

Explanation:

2/3 x 6 = 2/3 x 6/1 = 12/3 = 4

I hope this helped!

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- Zack Slocum

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Solve these equations.

Answers

Answer:

no solution

Step-by-step explanation:

|x-33| = -33

An absolute value must be greater than or equal to zero

The right hand side is a negative number.

There is no solution

Answer:

No solution

Step-by-step explanation:

When you do the absolute value, it is equal to a negative number. Which does not make sense so no solution

Help please, i need it asap

Answers

Answer:

∠BCA = 59

x = 2

∠B = 83

Step-by-step explanation:

Properties of a parallelogram:

Opposite angles are congruent

Opposite side lengths are congruent

That being said lets find x, ∠B and ∠BCA

First x

Segment AD and segment CD are parallels which are congruent

Knowing that we create an equation

6x = 12

step 1: Divide each side by 6

6x/6=x

12/6=2

we're left with x = 2

For ∠B

∠D and ∠B are opposite angles of a parallelogram

meaning that ∠D≅∠B

So if ∠D=83 then ∠B also = 83

For ∠BCA

∠BCA and ∠DAC happen to be opposite angles ( like stated previously opposite angles are congruent.)

Because ∠DAC = 59 ∠BCA also = 59

x + 4y = -26 -5x - = -14​

Answers

Answer:

x=14/5, y=-36/5. (14/5, -36/5).

Step-by-step explanation:

x+4y=-26

-5x=-14

------------

5x=14

x=14/5

14/5+4y=-26

4y=-26-14/5

4y=-130/5-14/5

4y=-144/5

y=(-144/5)/4

y=(-144/5)(1/4)

y=-144/20

simplify

y=-36/5

work out m and c for the line:​

Answers

2y+3x-1=0

Get it in the form y=mx+c

2y+3x-1=0 |-3x,+1 to both sides
2y=-3x+1 | ÷2 (to get 1y)
y=-3/2 x + 1/2

y=-3/2 x + 1/2
y=mx+c

m=-3/2
c=+1/2

Answer: m=-3/2

c=+1/2

Step-by-step explanation:

Pls help me!!
Answer choice:
A-30,500
B-17,700
C-15,630
D-12,800

Answers

Answer:

$12,800

Step-by-step explanation:

A 20 in wagon wheel has 6 spokes. What is the outside distance between the end of the spokes if they are spaced evenly(arc length)?

Answers

Answer:

10.47 inches

Step-by-step explanation:

circumference = πD = 3.14(20) = 62.8 inches

62.8 inches/6 spaces = 10.47 inches per space

How many tens and how many hundreds is 21,000

Answers

2,100 tens and 210 hundreds

Answer:

tens = 2,100 and  hundreads = 210

Step-by-step explanation:

Find the interest and amount of Rs. 12500 for
5 years at the rate of 8% per annum​

Answers

Answer:

Can't help you in this Question

Interest = Rs. 5000
Kindly check the attached image for solution

Simplify: (-5x + 7) - (x2 – 3x +2)

Answers

Answer:

-x^2-2x+5

Step-by-step explanation:

Pull out like factors :

-x2 - 2x + 5 = -1 • (x2 + 2x - 5)

Factoring x2 + 2x - 5

The first term is, x2 its coefficient is 1 .
The middle term is, +2x its coefficient is 2 .
The last term, "the constant", is -5

Step-1 : Multiply the coefficient of the first term by the constant 1 • -5 = -5

Step-2 : Find two factors of -5 whose sum equals the coefficient of the middle term, which is 2 .

-5 + 1 = -4
-1 + 5 = 4

Observation : No two such factors can be found !!

-x2 - 2x + 5

Question 4
The results of the Woodlands Middle School poll show that 20% of
the students prefer the aquarium and 50% of the teachers the
aquarium.
Which of the following statements is true?
There is evidence that teachers at Woodlands Middle may prefer the aquarium
more than students.
There is not enough evidence to support a relationship between destination
preference (aquarium or amusement park) and school role (student or teacher).
Woodlands Middle may prefer the aquarium
There is evidence that students
more than teachers.

Answers

Answer:

There is evidence that teacher at Woodlands Middle May prefer the aquarium more than students

Step-by-step explanation:

There is evidence that teachers at Woodlands Middle may prefer the aquarium (Option A) is the true statement from all the available options.

Why do we do sampling?

We do sampling so that we don't have to work on entire population of items but only on that sample in a way that we can predict information about population.

Most of the times, it isn't possible in real world to work on entire populations. Samples come out for rescue by assumptions that they will have some properties of the population pertained in them.

Thus, the sample should be taken out such that it includes data of the population as much  as it can in unbiased way so as to imitate population.

Poll oftenly uses sampling.

The data obtained from the poll shows that:

20% of the students prefer the aquarium and 50% of the teachers the

aquarium.

That means, from the poll, we found that out of total students, 20% prefer aquarium whereas 50% of total teacher prefer aquarium.

Since we conclude from sampling only as this is the usual way we do conclusion about population, and since percentage shows that less students' proportion prefer aquarium than the proportion of teachers prefering aquarium, thus,

There is evidence that teachers at Woodlands Middle may prefer the aquarium (Option A) is the true statement from all the available options.

Learn more about sampling here:

https://brainly.com/question/24842573

The length of a rectangle is (2x-3) and the width is (x+6) which of the following is a representation of area

Answers

Answer:

(2x+3)(x+6) or 2x^2 + 15x + 18

Step-by-step explanation:

Area = Length x Width

Length = (2x-3)

Width = (x+6)

(2x-3)(x+6)

2x^2 + 12x - 3x - 18

2x^2 + 15x + 18

Final Answer: (2x+3)(x+6) or 2x^2 + 15x + 18

Please help! I'm giving branniest for the correct answer! (SHOW WORK)​

Answers

Answer:

102

Step-by-step explanation:

it's a parallelogram so it's BxH

A = 15x8 = 120

inside rectangle A is LxW

6x3 = 18

subtract the inside from the outside

120-18 = 102

How much of the circle is shaded 1/7 + 1/2

Answers

Answer:

The answer would be 0.64285714285

Step-by-step explanation:

You just add both of the fractions you showed above

solve these equations show solutions on a number line.
|x+8|=x+8

Answers

9514 1404 393

Answer:

  x ≥ -8

Step-by-step explanation:

The absolute value does nothing when its argument is non-negative.

  x +8 ≥ 0

  x ≥ -8 . . . . . . . subtract 8 from both sides

Jack borrowed $ 4,000.00 and paid $ 585.00
in simple interest after 4 year 6 months. What
was the annual rate of interest?​

Answers

Answer:

3.25%

Step-by-step explanation:

The formula for simple interest is I = PRT, where I = interest earned/paid, P = principal amount deposited or borrowed, R = rate of interest as a decimal, and T = time in years.

I = PRT

585 = (4000)(r)(4.5)

585 = 18,000r

r = 0.0325

Multiply by 100 to get the percentage

0.0325 = 3.25%

please help me i have the pic below: find the 27th term given the function an=-10+(n-1)(-2)

Answers

Answer:

-62

Step-by-step explanation:

Plug 27 into the equation

a27=-10+(27-1)(-2)

27-1=26

26 times -2 = -52

-52-10=-62

a_n=-10-2(n-1)

So

a_27

-10-2(26)-10-52-62

Option D

Which quantity is proportional to 5/25?

Answers

1/5 is the answer i think hope I helped

Answer:

i think the correct answer is 1/5.

Step-by-step explanation:

hope this answer will help u.

have a great time.

please help me i can't figure this out

A 6 meters per second

B 5 meters per second

C 4 meters per second

D 7 meters per second​

Answers

Answer:

B 5 meters per second

Step-by-step explanation:

Pick two points on the graph, and find the slope.

For example, you can use the points

(0, 8500) and (1700, 0)

slope = (difference in y)/(difference in x)

slope = (0 - 8500)/(1700 - 0) = -8500/1700 = -5

The slope is negative because the plane was losing altitude as it descended.

It descended at a rate of 5 meters per second.

Answer: B 5 meters per second

Answer:

B. 5 meters per second

Step-by-step explanation:

slope=8500÷1700=5

Plane descended at the rate of 5 meters per second.

hope it helps

have a great day!!

D = L ( m/k + v^2/25)

Make v the subject of the formula.

Answers

Answer:

Answer and steps in picture.

D/L = m/k + v^2/25
-m/k -m/k
25(D/L - m/k) = v^2/25(25)
Sqrt 25(D/L - m/k) = sqrt v^2
Sqrt 25(D/L - m/k) = v

The steam and the leaf plot list the ages of customers in a book store

How many customers are 19 or younger?

enter your answer in the box

Answers

Answer:

Step-by-step explanation:

The perimeter of a rectangle is 62.the length is 5 less than 3times the width. Find the width and the length

Answers

Answer:

length = 22, width = 9

step by step explanation :

perimeter = 62

length = 3×width -5

∴ 2 ( length + width ) = perimeter

2 ( 3w-5 + w ) = 62

3w -5 + w = 62/2 = 31

3w -5 + w = 31

4w  = 31 + 5 = 36

4w = 36

 w =36/4

 w = 9

l= 3w-5 = (3×9)-5 = 27-5= 22

verifying -

2( l + b) = perimeter

2 ( 22 + 9 ) = 2 * 31 = 62

hope this answer helps you....

The area of a square field is 14400 sq. metre. Find the length of the side
of the square.

Answers

Answer:

side = 120 metre

Step-by-step explanation:

here's your solution

=> Area of square = 14400 sq.metre

=> Area of square = side^2

=> side^2 = 14400 sq.metre

=> side = √14400

=> side = 120 metre

hope it helps

Side=120 meters explanation in other response

Revenue expenditures:

Answers

Revenue expenditure refers to those expenditures which are incurred during normal business operation by the company, benefit of which will be received in the same period and the example of which includes rent expenses, utility expenses, salary expenses, insurance expenses, commission expenses, manufacturing expenses, legal expenses, postage and printing expenses, etc.

Find the surface area of a cylinder with radius 2.5 cm and height of 7.3 cm.

Answers

A= 2π r h + 2 π r^2= 2.5*7.3+2* π*2.5= 153.93804
Or....
153.94
:)
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