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gavmur [86]
3 years ago
7

Lisa is 21 years old and starting an IRA (individual retirement account). She is going to invest $50 at the beginning of each mo

nth. The account is expected to earn 2.5% interest, compounded monthly. How much money, rounded to the nearest dollar, will Lisa have in her IRA if she wants to retire at age 52?
A. $28,052
B. $28,111
C. $40,676
D. $40,731
Mathematics
1 answer:
Allushta [10]3 years ago
5 0
FVAD=50[((1+0.025/12)^(12*31)-1)/(0.025/12)]*(1+0.025/12)
FVAD=28110.7 round
FVAD=28111
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Hi! ❤️ , im looking for some help here. ill give brainliest if able to.
Alexeev081 [22]

Answer:

A. 2^11

Step-by-step explanation:

(They are basically asking what's 2^4 × 2^7, but with more words.)

I usually do each exponent individually:

2^4 is the same as 2 × 2 × 2 × 2 = 16 (or you could have read the text to figure that out)

2^7 is the same as 2 × 2 × 2 × 2 × 2 × 2 × 2 = 128

Then just multiply 128 and 16 to get 2,048, and see which option also gives you 2,048.

BUT, you can also:

(Combine the exponents together to get your answer. Just remember that if it's multiplication you add them, and if it's division you subtract them.)

2^4 × 2^7

4 + 7 = 11

2^11 (This equals 2,048 btw. You don't even have to check all the options to get the answer).

Hope this helps friend :)

The last part I learned from another user, while answering one of your other questions. I personally find this mind blowing, lol.

4 0
2 years ago
41. Suppose a family drives at an average rate of 60 mi/h on the way to visit relatives and then at an average rate of 40 mi/h o
Afina-wow [57]

Answer:

The answer is below

Step-by-step explanation:

a) Let x represent the time taken to drive to see the relatives and let d be the distance travelled to go, hence:

60 mi/h = d/x

d = 60x

When returning, they still travelled a distance d, since the return trip takes 1 h longer than the trip there, therefore:

40 mi/h = d/(x+1)

d = 40(x + 1) = 40x + 40

Equating both equations:

60x = 40x + 40

60x - 40x = 40

20x = 40

x = 40/20

x = 2 h

The time taken to drive there = x = 2 hours

b) The time taken for return trip = x + 1 = 2 + 1 = 3 hours

c) The distance d = 60x = 60(2) = 120 miles

The total distance to and fro = 2d = 2(120) = 240 miles

The total time to and fro = 2 h + 3 h = 5 h

Average speed = total distance / total time = 240 miles / 5 h = 48 mi/h

5 0
2 years ago
Write a pair of fractions as a pair of fractions with a common denominator using the fractions 1/2 and 1/3.
Vinvika [58]

Answer:

3/6, 2/6.

Step-by-step explanation:

The lowest common denominator of 2 and 3 is 6.

1/2 = 3/6 and 1/3 = 2/6

So this  pair of fractions is 3/6, 2/6.

4 0
3 years ago
A group of friends were working on a student film. They spent $481 on costumes, which was 37% of their total budget. What was th
iogann1982 [59]

The total budget for the student film was $1300 and $481 was spent on costumes

<h3>What is an equation?</h3>

An equation is an expression that shows the relationship between two or more variables and numbers.

Let x represent the total budget for the student film.

The student spent $481 on costumes, which was 37% of their total budget, hence:

37% of x = 481

0.37x = 481

x = $1300

The total budget for the student film was $1300 and $481 was spent on costumes

Find out more on equation at: brainly.com/question/2972832

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2 years ago
Please help!! I'm really confused
Cloud [144]

Answer: im on this one too

Step-by-step explanation:

8 0
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