Answer:
$152,419.36
Step-by-step explanation:
The future value of an ordinary annuity is given by the formula ...
FV = P((1 +r/12)^(12t) -1)/(r/12)
where P is the monthly payment, r is the annual interest rate, and t is the number of years.
<h3>Annuity value</h3>
For P = 350, r = 0.021, and t = 27 (years to retirement age), the value is ...
FV = 350((1 +0.021/12)^324 -1)/(0.021/12) ≈ $152,419.36
The value of Jolene's retirement account when she turns 60 will be $152,419.36.
Answer:
values = previous value + 1.3
therefore
common difference = 1.3
Step-by-step explanation:
Answer:
3 7/8
Step-by-step explanation:
_____ + 5 3/4 = 9 5/8
x + 5 3/4 = 9 5/8
Subtract 5 3/4 from each side
x + 5 3/4 - 5 3/4 = 9 5/8 - 5 3/4
x = 9 5/8 - 5 3/4
Get a common denominator of 8
5 3/4 *2/2 = 5 6/8
x = 9 5/8 - 5 6/8
We need to borrow 1 from the 9 in the form of 8/8
x= 8 + 8/8+ 5/8 - 5 6/8
x = 8 13/8 - 5 6/8
= 3 7/8