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sveticcg [70]
3 years ago
14

Mark wants to be a millionaire by the time he retires at age 65. He assumes there is a 6% annual interest rate. If he starts sav

ing at age 20, he will need to invest $4,700 each year. If he starts saving at age 30, he will need to invest $9,000 each year. How much more money will Mark have to save if he starts saving at age 30 instead of age 20? A) $150,500 B) $103,500 C) $43,000 D) $4,482
Mathematics
2 answers:
Mashutka [201]3 years ago
5 0

Answer:

B is the answer for this question. :)

Step-by-step explanation:


Mnenie [13.5K]3 years ago
5 0

Answer:

Option B

Step-by-step explanation:

We're been given with:-

Rate of Interest (r) = 6%

Age of retirement = 65

Amount of money invested each year if Mark starts saving at age 20 = $4700

Amount of money invested each year if Mark starts saving at age 30 = $9000

1) Number of years needed to invest if Mark starts saving at age 20 = 65-20

= 45

2) Number of years needed to invest if Mark starts saving at age 30 = 65-30

= 35

3) Total amount of money invested if Mark starts saving at age 20 = Principle invested * time

= 4700 * 45

= $ 211500

4) Total amount of money invested if Mark starts saving at age 30 = Principle invested * time

= 9000 * 35

= $ 315000

5) Amount of money Mark will have to save if he starts saving at age 30 instead of age 20 = 315000 - 211500

= $ 103,500

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HELP PLEASE!
NeTakaya

Answer:5×4×9/9 +(9(4))

=180/9 + (36)

= 20+36

=56

Thank You

5 0
3 years ago
Read 2 more answers
Anybody know the answer?
xxTIMURxx [149]
The slope is 3
do you need the steps?
6 0
2 years ago
I need help!!
iogann1982 [59]

Answer:

1st is valid 2nd is not valid

Step-by-step explanation:

8 0
2 years ago
(with solution)
Lunna [17]

Answer:

see explanation

Step-by-step explanation:

The equation of a line in slope- intercept form is

y = mx + b ( m is the slope and c the y- intercept )

(1)

Here m = 6 and b = - 2, then

y = 6x - 2

(2)

The equation of a line in standard form is

Ax + By = C ( A is a positive integer and B, C are integers )

Here m = - 2 and b = 5, then

y = - 2x + 5 ← equation in slope- intercept form

Add 2x to both sides

2x + y = 5 ← equation in standard form

(3)

Calculate the slope m using the slope formula

m = \frac{y_{2}-y_{1}  }{x_{2}-x_{1}  }

with (x₁, y₁ ) = (6, - 13) and (x₂, y₂ ) = (- 4, - 3)

m = \frac{-3+13}{-4-6} = \frac{10}{-10} = - 1 , then

y = - x + b ← is the partial equation

To find b substitute either of the 2 points into the partial equation

Using (- 4, - 3 ) , then

- 3 = 4 + b ⇒ b = - 3 - 4 = - 7

y = - x - 7 ← equation in slope- intercept form

Add x to both sides

x + y = - 7 ← equation in standard form

8 0
3 years ago
Devaughn is 5 years younger than Sydney. The sum of their ages is45. What is Sydney's age?
Verizon [17]
Let the age of devaughn be x and Sydney be y.
Then,x+y=45
x+5=y
y=x+5
here,
put y=x+y in x+y=45
then,
x+y=45
x+x+5=45
2x=40
x=20
now,
y=x+5
y=20+5
y=25
5 0
3 years ago
Read 2 more answers
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