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skad [1K]
1 year ago
6

11. You expect to have the given amount in an account with the given terms. Find how much you can withdraw periodically in order

to make the account last the specified amount of time. Round your answer to the nearest cent. Account balance: $300,000 Interest rate: 4.45% Frequency daily Time: 22 years Regular withdrawal amount: $

Mathematics
1 answer:
Orlov [11]1 year ago
8 0

This is a question on Present Value of Annuity and we seek the periodic withdrawal.

\begin{gathered} F\text{VA}=\text{PMT(}\frac{(1+\frac{i}{m})^{nm}-1}{\frac{i}{m}}) \\ \text{Therefore, PMT=}\frac{FVA}{(\frac{(1+\frac{i}{m})^{nm}-1}{\frac{i}{m}})} \end{gathered}

where:

FVA = Future value of annuity

PMT = Periodic Withdrawal

i = interest/discount rate

n = no of years

m = no of compundings per interest period

\text{PMT=}\frac{300000}{(\frac{(1+\frac{0.0445}{365})^{22\times365}-1}{\frac{0.0445}{365}})}=22.01

PMT = $22.01

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Which of the following is an advantage to using equations?
Elodia [21]

Answer:

The correct option is

(A). When given two names for the same quantity, you can use algebra to solve the equations.

Step-by-step explanation:

I had thesame quiz, lucky you...next time put the options :)

7 0
4 years ago
SOLVE THESE 3 QUESTIONS WILL GIVE BRAINLIEST ASAP!
Fofino [41]

Answer:

A: Neither is a better deal, they cost the same person cubic foot

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B: The large truck's volume is 2.3 times greater than the small truck's

C: At least: three vans, or two small trucks, or one large truck

Step-by-step explanation:

V=Lhw R=$/ft³

Vv=10.5(6)(6)

Vv=378 ft³

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Vl=20(8.75)8.5

Vl=1487.5 ft³

1487.5=648n

2.295=n

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7 0
4 years ago
igure ABCD has vertices A(−3, 2), B(2, 2), C(2, −4), and D(−3, −2). What is the area of Figure ABCD? 5 square units 20 square un
Vilka [71]

It would be B I hope it’s right hope this helps

6 0
3 years ago
Use multiplying by 1 to find an expression equivalent to nine fifths with a denominator of 10b.
Usimov [2.4K]

1 = 2/2
Therefor if we multiply 9/5 by 2/2 we will get 18/10
Basically figure out what denominator you need and then find a suitable value of 1, where in this case 5*2 = 10 :)
3 0
3 years ago
Solve the system of equations.<br> 14x+5y=31<br> 2x−3y=−29 ​
Nastasia [14]

Answer:

  (x, y) = (-1, 9)

Step-by-step explanation:

A graphical solution can be quick and easy. It shows the solution to be ...

  (x, y) = (-1, 9)

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Another suitable method is Cramer's rule. It makes use of a particular pattern of sum of products of coefficients and constants. The denominator in each case is the same sum of products.

  x = (5(-29)-(-3)(31))/(5(2)-(-3)(14)) = -52/52 = -1

  y = (31(2)-(-29)(14))/52 = 468/52 = 9

8 0
3 years ago
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