1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vadim26 [7]
4 years ago
9

Your pension plan is an annuity with a guaranteed return of 4% per year (compounded quarterly). You can afford to put $1,900 per

quarter into the fund, and you will work for 40 years before retiring. After you retire, you will be paid a quarterly pension based on a 25-year payout. How much will you receive each quarter? (Round your answer to the nearest cent.) Please Provide a workout.
Mathematics
1 answer:
melamori03 [73]4 years ago
7 0
Given pension plan:
Quarterly payment, A = 1900
Interest per quarter, i = 0.04/12
Number of quarters, n = 40*4 = 160

Future value of pension (after 40 years)
F=\frac{A((1+i)^n-1)}{i}
=\frac{1900((1+.04/12)^16--1)}{.04/12}
=400763.40

As of retirement,
Present value of pension, P = 400763.40
Interest per quarter, i = 0.04/12
Number of quarters, n = 25*4 = 100
Amount of payout, A, per quarter
A=\frac{P(i(1+i)^n)}{(1+i)^n-1}
=\frac{400763.40*(0.04/12*(1+0.04/12)^100)}{(1+.04/12)^100-1)}
=4719.23  (to the nearest cent)
You might be interested in
I really need help with this please I appreciate your kidness
suter [353]

Answer:

Step-by-step explanation:

ok so first u have to multiply 9x5 which is 45 and put it under the 5

then u multiply 3x5 which is 15 and u put it under the 5 next to the 3

u do the samething over and over, is just basically time tables

7 0
4 years ago
Read 2 more answers
If the 2nd and 5th terms of a
blagie [28]

Answer:

45

Step-by-step explanation:

The n th term of a GP is

a_{n} = ar^{n-1}

where a is the first term and r the common ratio

Given a₂ = 6 and a₅ = 48, then

ar = 6 → (1)

ar^{4} = 48 → (2)

Divide (2) by (1)

\frac{ar^4}{ar} = \frac{48}{6} , that is

r³ = 8 ( take the cube root of both sides )

r = \sqrt[3]{8} = 2

Substitute r = 2 into (1)

2a = 6 ( divide both sides by 2 )

a = 3

Thus

3, 6, 12, 24 ← are the first 4 terms

3 + 6 + 12 + 24 = 45 ← sum of first 4 terms

8 0
3 years ago
Find equivalent fractions with a common denomination 2/3 1/2 5/12
777dan777 [17]
Hi there!

To find equivalent fractions, we need to multiply both the numerator and the denominator by the same number. 

These equivalent fractions are the original fractions multiplied by 2/2:

2/3 = 4/6
1/2 = 2/4
5/12 = 10/24

Hope this helps!
4 0
4 years ago
Find the slope between the two given points.
monitta

Answer:

Slope is y2-y1/x2-x1

Let’s make the point (-3,18) our x1 and y1 and make the point (12,-15) our x2 and y2.

-15-18/12-(-3)

-33/15

-11/5 would be your answer.

Hope I helped!

8 0
3 years ago
Which is greater or equal to 25,365 cm or 30m
Serggg [28]
1m=100cm\\\\therefore\ 30m=30\cdot100cm=3,000cm\\\\conclusion:25,365cm\ is\ greather\ to\ 30m=3,000\ cm
6 0
3 years ago
Other questions:
  • Need help on a question for my correction, if u know it please help!!!
    10·1 answer
  • X If $7500 was compounded annually for 8 years at a rate of .23% how much will it be
    14·1 answer
  • -5(x+1)= - 3(2x-2)<br> x= 11<br> X=-3<br> x=3<br> x= -11 please help quick!!!
    5·2 answers
  • A school conference room can seat a maximum of 83 people. The principal and two counselors need to meet with the school's
    8·1 answer
  • Which of the following statements about 585 are true? (Choose 2)
    11·2 answers
  • Pls help the question is in the picture
    5·1 answer
  • Solve for x. Round to the nearest tenth, if necessary.
    6·1 answer
  • Dan was thinking of a number. Dan halves the number and gets an answer of 18.8. Form an equation with x from the information.
    11·1 answer
  • Could someone please help me with this?
    8·1 answer
  • Which equation correctly shows how to determine the distance between the points (9, -2) and (6, 3) on a coordinate
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!