Based on the amount that Steve Weatherspoon wants to withdraw every year beginning in June 30, 2024, and the interest rate, the balance on June 30th 2023 should be $45,203.
<h3>What should the balance be in 2023?</h3>
The fact that Steve Weatherspoon wants to be able to withdraw a particular amount every year, this makes this amount an annuity.
The value in 2023 would therefore be the present value of the annuity that will then accrue to the required amounts as the years go by.
The present value of an annuity is:
= Annuity amount per year x Present value interest factor of an annuity, 11%, 3 years between 2024 and 2027
Solving gives:
= 13,126.25 x 3.44371
= $45,203
In conclusion, the balance on the fund in 2023 should be $45,203 in order for Steve Weatherspoon to achieve his objectives.
Find out more on the present value of an annuity at brainly.com/question/25792915
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Answer:
K+T=20
$9K + $6T = $168
K is the Kentucky blue grass in pounds
T is the Tall fescue in pounds
Step-by-step explanation:
You can start with the first equation. We don't know the exact amounts of each but we know that there was a total of 20 pounds, and there were 2 types of grass seeds, so we can get that the amount of pounds of Kentucky blue grass(K) and the pounds of Tal Fescue(T) has a sum of 20.
K + T = 20
For the second equation we know that there is a sum of $168 so we'll start with that. Then, we know he paid $9 per pound of K so $9* the value of K is the amount paid for Kentucky blue grass total. This can be represented as 9K. We do the same for T, 6T. Since the sum of the cost of $9T and $6K must be $168 we can write this as:
$9K + $6T = $168
The expression that represents the current price of milk is y +2.55. I am hoping that this answer has satisfied your query and it will be able to help you in your endeavor, and if you would like, feel free to ask another question.
Please, for clarity, indicate exponentiation using the " ^ " symbol.
y = - 3x^5 ("Negative three times the 5th power of x")
y = 3x^8
y - -3(0.5)^x
y = -2^4
An exponential function has an exponent which is variable, where the base stays constant; the base cannot be a negative number or a zero. The third answer choice is the correct one, as we raise the constant 0.5 to the power x:
y = -3(0.5)^x
A triangle a can’t have more than 1 obtuse angle because all angles have to equal 180 degrees, and an obtuse angle is larger then 90 degrees. If it had more than 1 obtuse angle, the angles wouldn’t equal 180 degrees and you wouldn’t be able to make a third angle.
