Answer:
I can't find that file. please give it again.
The amount needed such that when it comes time for retirement is $2,296,305. This problem solved using the future value of an annuity formula by calculating the sum of a series payment through a specific amount of time. The formula of the future value of an annuity is FV = C*(((1+i)^n - 1)/i), where FV is the future value, C is the payment for each period, n is the period of time, and i is the interest rate. The interest rate used in the calculation is 4.1%/12 and the period of time used in the calculation is 30*12 because the basis of the return is a monthly payment.
FV = $3,250*(((1+(4.1%/12)^(30*12)-1)/(4.1%/12))
Answer:
The answer is perpendicular
Step-by-step explanation:
convert the two equations into slope-intercept form
y=7/5x - 1
y=6/5x -1
Then, put it in the graph and you'll get lines intersecting at the same point which is the y-intercept.
