If Lamont withdraws $2,750 monthly, he will be <u>66 years old</u> (after 134.326 months) when the money runs out.
<h3>How is the number of monthly withdrawals calculated?</h3>
We can calculate the number of monthly withdrawals using an online finance calculator.
It determines the number of periods it will take for the investment to be exhausted, given an interest rate of 3.8%.
I/Y (Interest per year) = 3.8%
PV (Present Value) = $300,500
PMT (Periodic Payment) = $-2750
FV (Future Value) = $0
<u>Results</u>:
N = 134.326 months
Years = 11 years (134.326/12)
Age at FV = $0 is 66 years (55 + 11)
Sum of all periodic payments = $-369,397.09 (134.326 x $-2,750)
Total Interest = $68,897.09
Thus, making a monthly withdrawal of $2,750 will exhaust the investment when Lamont turns <u>66</u>.
Learn more about periodic withdrawals and payments at brainly.com/question/13031679
#SPJ1
Answer: A 2.28
Step-by-step explanation: Divide 496 by 218.
Answer:
10.39 or 10.4
Step-by-step explanation:
Since this is a right triangle, you have the formula a squared +b squared = c squared where a and b are the legs and c is the hypotenuse. You plug in the values and you should get sqrt of 108 for x.
7) The horizontal speed will effect the distance that your feet are off the ground but not on the time...
my last number answer is -9.8 but I think it's incorrect .
I only know this much sorry .
Answer:
The larger number is 40, and the smaller one is 23.
Step-by-step explanation:
Let x be the larger number.
Let x - 17 be the smaller number.
x + (x - 17) = 63
2x - 17 = 63
2x = 80
x = 40
Hence, the smaller number is 40 - 17 = 23.
Hope this helped!
