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Morgarella [4.7K]
3 years ago
7

Ashton made contributions to a Roth IRA over the course of 32 working years. His contributions averaged $2,400 annually. Ashton

was in the 28% tax bracket during his working years. The average annual rate of return on the account was 8%. Upon retirement, Ashton stopped working and making Roth IRA contributions. Instead, he started living on withdrawals from the retirement account. At this point, Ashton dropped into the 15% tax bracket. Factoring in taxes, what is the effective value of Ashton's Roth IRA at retirement? Assume annual compounding
Mathematics
1 answer:
MissTica3 years ago
6 0

<span>If Ashton made contributions to a Roth IRA over the course of 32 working years, then his contributions averaged $2,400 annually, and Ashton was in the 28% tax bracket during his working years, then the annual compounding will be 6% or .06.</span>

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It appears that people who are mildly obese are less active than leaner people. One study looked at the average number of minute
Genrish500 [490]

Answer:

a) 0.0537 = 5.37% probability that the mean number of minutes of daily activity of the 6 mildly obese people exceeds 420 minutes

b) 0.9871 = 98.71% probability that the mean number of minutes of daily activity of the 6 lean people exceeds 420 minutes

Step-by-step explanation:

To solve this question, we need to understand the normal probability distribution and the central limit theorem.

Normal Probability Distribution:

Problems of normal distributions can be solved using the z-score formula.

In a set with mean \mu and standard deviation \sigma, the z-score of a measure X is given by:

Z = \frac{X - \mu}{\sigma}

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

Central Limit Theorem

The Central Limit Theorem estabilishes that, for a normally distributed random variable X, with mean \mu and standard deviation \sigma, the sampling distribution of the sample means with size n can be approximated to a normal distribution with mean \mu and standard deviation s = \frac{\sigma}{\sqrt{n}}.

For a skewed variable, the Central Limit Theorem can also be applied, as long as n is at least 30.

Mildly obese:

Mean 376 minutes and standard deviation 67 minutes, which means that \mu = 376, \sigma = 67

Sample of 6

This means that n = 6, s = \frac{67}{\sqrt{6}} = 27.35

Lean

Mean 520 minutes and standard deviation 110 minutes, which means that \mu = 520, \sigma = 110

Sample of 6

n = 6, s = \frac{110}{\sqrt{6}} = 44.91

A) What is the probability that the mean number of minutes of daily activity of the 6 mildly obese people exceeds 420 minutes?

This is 1 subtracted by the pvalue of Z when X = 420, using the mean and standard deviation for mildly obese people. So

Z = \frac{X - \mu}{\sigma}

By the Central Limit Theorem

Z = \frac{X - \mu}{s}

Z = \frac{420 - 376}{27.35}

Z = 1.61

Z = 1.61 has a pvalue of 0.9463

1 - 0.9463 = 0.0537

0.0537 = 5.37% probability that the mean number of minutes of daily activity of the 6 mildly obese people exceeds 420 minutes.

B) What is the probability that the mean number of minutes of daily activity of the 6 lean people exceeds 420 minutes?

This is 1 subtracted by the pvalue of Z when X = 420, using the mean and standard deviation for lean people. So

Z = \frac{X - \mu}{s}

Z = \frac{420 - 520}{44.91}

Z = -2.23

Z = -2.23 has a pvalue of 0.0129

1 - 0.0129 = 0.9871

0.9871 = 98.71% probability that the mean number of minutes of daily activity of the 6 lean people exceeds 420 minutes

5 0
3 years ago
90,000,000 divided by 3,000
murzikaleks [220]

Answer:

The answer is 30,000

Step-by-step explanation:

Take 90000000 and divide by 3000 (I just used my calculator)

8 0
3 years ago
Read 2 more answers
1. To make one glass of chocolate milk, you mix 1 cup of milk with 3 tablespoons of chocolate powder. How many cups of milk woul
snow_lady [41]

Answer:

<u>Question 1:</u>

You would need 4 cups of milk, and 12 tablespoons of chocolate powder for 4 glasses of chocolate milk.

If your brother made his chocolate milk using 2 cups of milk and 3 tablespoons of chocolate powder, his drink would be less chocolatey than yours.

<u>Question 2:</u>

<u />

The ratio to boys and girls in the classroom is 15/10 or 10/15

<u>Question 3:</u>

It takes Joshua 6 minutes and 40 seconds to run 1 mile,

It takes Joshua 33 minutes and 20 seconds to run 5 miles

And it takes Joshua 16 minutes and 40 seconds to run 2.5 miles.

;)

4 0
3 years ago
The mean age of 5 people in a room is 27 years.
bija089 [108]
The answer is 135
27 x 5=135
3 0
3 years ago
What formula can we use to find the surface area of a rectangular prism? ​
saveliy_v [14]

Answer:

○ \displaystyle SA = 2lw + 2lh + 2wh

Explanation:

A rectangle has four right angles, including two pairs of congruent edges, only containing two dimensions – <em>height</em> and <em>length</em>. Therefore, going three-dimensional, a <em>rectangular prism</em> has three dimensions – <em>width</em>, <em>height</em>, <em>length</em>. With this information, you should know what the answer is.

I am joyous to assist you at any time.

6 0
3 years ago
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