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MArishka [77]
2 years ago
12

Determine the amount needed such that when it comes time for retirement, an individual can make monthly withdraws in the amount

of $2,154 for 30 years from an account paying 5.1% compounded monthly. round your answer to the nearest cent.a.$396,721.78b.$398,407.85c.$775,440d.$1,833,962.40 please select the best answer from the choices providedabcd
Mathematics
1 answer:
DochEvi [55]2 years ago
7 0

Lets solve the problem through compound interest formula,

The number of months are 360

The account pay interest rate is  5.1 %compounded monthly.

The amount withdraws each month is $2154

The value of n  is 360.

The value of  is<em> i</em> is 5.1%

So,

P = A [(1+i)^n]-1/i(1+i)^n\\\\P = $2,154 [(1+(0.051/12))^30*12] - 1 / (0.051/12)(1+(0.051/12))^30*12\\\\P = $396,721.78

Hence the value of principal is $396721.78

Learn more about Compound interest on:

brainly.com/question/18456266

#SPJ4

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

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x= -63/5 = -12.6

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The rabbit population of Springfield, Ohio was 144,000 in 2016. It is expected to decrease by about 7.2% per year. Write an expo
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<h2>Hello!</h2>

The answer is:

In 2036 there will be a population of 32309 rabbits.

<h2>Why?</h2>

We can calculate the exponential decay using the following function:

P(t)=StartAmount*(1-\frac{percent}{100})^{t}

Where,

Start Amount, is the starting value or amount.

Percent, is the decay rate.

t, is the time elapsed.

We are given:

StartAmount=144,000\\x=7.2(percent)\\t=2036-2016=20years

Now, substituting it into the equation, we have:

P(t)=StartAmount(1-\frac{percent}{100})^{t}

P(t)=144000*(1-\frac{7.2}{100})^{20}

P(t)=144000*(1-0.072)^{20}

P(t)=144000*(0.928)^{20}

P(t)=144000*(0.928)^{20}

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Hence, we have that in 2036 the population of rabbis will be 32309 rabbits.

Have a nice day!

5 0
3 years ago
Given cos ⁡ ( θ ) = 5/6 , then sin ⁡ ( θ ) = a/b .<br><br> Determine the values of a and b.
slega [8]

Answer:

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Step-by-step explanation:

Refer to attached picture for reference

for an right triangle with angle θ

we are given

cos θ = 5/6 = length of adjacent side / length of hypotenuse

hence

adjacent length = 5 units

hypotenuse length = 6 units

the missing side is the "opposite" length which we can find with the Pythagorean equation. in our case:

hypotenuse ² = adjacent ² + opposite²   (rearrange)

opposite ² = hypotenuse ² - adjacent ²

opposite ² = 6² - 5²

opposite = √ (6²-5²) = √11

sin θ = opposite length / hypotenuse  (substitute values above)

sin θ = √11 / 6

hence a = √11 and b = 6

3 0
3 years ago
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