Answer:
- <em><u>The reduction is 8.6%</u></em>
Explanation:
Call F the full monthly pension of a person retiring at 62.
If a person continues to work the pension grows at a rate of 6% per year, compounded monthly, so use the compounded growing formula:
Where r = 6 / 100 = 0.06, and t = number of years after retirement.
<u>For retirement at 65.5</u>:
<u>For retirement at 67</u>:
<u>Percent reduction of people who retire at 65.5 compared to what they would receive at 67</u>:
Answer:
x = -2
y = 1
Step-by-step explanation:
-3x - 4y = 2
x = -2
y = 1
3x + 3y = -3
x = -2
y = 1
Number of weeks in a year: 52
Weeks in 7 years: 52 x 7 = 364
Final amount = Initial amount x (1 + interest)^(time period)
Final amount = 10,250 x (1.09)³⁶⁴
Final amount = $4.3 x 10¹⁷
Answer: 82.28 cm^3
Step-by-step explanation:

