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erica [24]
1 year ago
6

You have a goal of saving to build up a nest egg of $625,357.24, and you are going to make regular deposits to an account that p

ays an APR of 7.2% compounded monthly. What monthly deposits are required to reach this goal in 40 years? (Round your answer to the nearest cent.)
Mathematics
1 answer:
Delvig [45]1 year ago
6 0

The monthly deposit required to save up to $625,357.24 (future value) in 40 years at a 7.2% APR is <u>$225.20</u>.

<h3>What is the monthly deposit?</h3>

The monthly deposits are the periodic savings that the investor must make to achieve future value.

The monthly deposit is compounded at the monthly annual percentage rate (APR).

We can compute the required monthly deposits using an online finance calculator as follows:

N (# of periods) = 480 months (40 years x 12)

I/Y (Interest per year) = 7.2%

PV (Present Value) = $0

FV (Future Value) = $625,357.24

<u>Results</u>:

Monthly Deposits (PMT) = $225.20

Sum of all periodic payments = $108,096 ($225.20 x 480)

Total Interest = $517,261.24

Thus, to save $625,357.24 in 40 years, you need to deposit <u>$225.20</u> monthly.

Learn more about periodic deposits (payments) at brainly.com/question/13031679

#SPJ1

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Question 5
Darina [25.2K]

Answer:

the answer is 12.24 .

Step-by-step explanation:

that answer is right is because when you add of those you get 530 , then you divide by how many numbers there are which is 7 , which equals to 75.7 . when you get that number ( 75.7) you subtract that number to 65,90,85,70,70,95, and 55 . when you get the total of all of those you add those . which is 10.7, 14.3 , 9.3 , 5.7 , 5.7 , 19.3 , and 20.7 . from adding those you get 85.7. you divide by 7 and get 12.24 . hope this helps :) .

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2 years ago
Math help me))))))))please
olasank [31]
X^2/(x- 9 = 81/(x - 9)
This is the equation for which you want the solution.
Multiplying both sides of the equation by (x - 9) we get
x^2(x - 9)/(x - 9) = 81(x - 9)/(x - 9)
So the (x - 9) goes out from both the denominator and the numerator and then the simplified equation becomes
x^2 = 81
x ^2 = (9)^2
x = 9
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3 years ago
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D 52 cm2 the correct answer
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48% of the children in a summer camp are boys. If there are 1536 boys, how many children are there in the
pantera1 [17]

there are 3200 children in the summer camp.

Step-by-step explanation:

Percentage of boys in summer camp= 48%

No of boys in summer camp=1536 boys

Total number of children in summer camp= \frac{1536}{48}*100\\ =3200

So, there are 3200 children in the summer camp.

Keywords: Word Problems having Percentage

Learn more about word problems at:

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