I believe the answer is (a+c, b) but I'd double check to make sure.
Answer:
87
Step-by-step explanation:
Answer:
Option 1: 1430p + 2200 = -4001
Step-by-step explanation:
Given that:
1.43p + 2.2 = -4.001
We can replace:
1.43p by 1430p * 10^-3
2.2 by 2200 * 10^-3
-4.001 by -4001* 10^-3
So the equation will become:
1430p * 10^-3 + 2200* 10^-3 = -4001 * 10^-3
Taking 10^-3 common from both side
(1430p + 2200)* 10^-3 = -4001 * 10^-3
Cancelling 10^-3 from both sides we get:
1430p + 2200 = -4001
$662.18 needs to be saved per month.
$90,000 now at 3% inflation will become 90000*1.03^30 after 30 years.
i.e. $218,454 is required in retirement years (for 20 years)
Calculating the PV of these payments at 7% is calculated as below.
FV = 0
1/y = 7%
n=20; PMT = 218454; calculate PV = $2,314,305
Now we want to get $2,314,305 at the start of retirement by saving per year. Enter the following in the financial calculator to get the per month amount.
FV = 2314305; PV = 0; n= 12*30; 1/y = 12%/12; calculate PMT = $662.18
So $662.18 needs to be saved per month.
Learn more about inflation here: brainly.com/question/8149429
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