If Lamont withdraws $2,750 monthly, he will be <u>66 years old</u> (after 134.326 months) when the money runs out.
<h3>How is the number of monthly withdrawals calculated?</h3>
We can calculate the number of monthly withdrawals using an online finance calculator.
It determines the number of periods it will take for the investment to be exhausted, given an interest rate of 3.8%.
I/Y (Interest per year) = 3.8%
PV (Present Value) = $300,500
PMT (Periodic Payment) = $-2750
FV (Future Value) = $0
<u>Results</u>:
N = 134.326 months
Years = 11 years (134.326/12)
Age at FV = $0 is 66 years (55 + 11)
Sum of all periodic payments = $-369,397.09 (134.326 x $-2,750)
Total Interest = $68,897.09
Thus, making a monthly withdrawal of $2,750 will exhaust the investment when Lamont turns <u>66</u>.
Learn more about periodic withdrawals and payments at brainly.com/question/13031679
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Answer:
g(x) = x + 1
Step-by-step explanation:
h(x)=(f o g)(x)
h(x)=f(g(x)) (Equation 1)
Replacing in the Equation 1:
Solving for g(x): Raising both sides to the power 3:
x+3=g(x)+2
Subtracting 2 from both sides of the equation:
x+3-2=g(x)+2-2
x+1=g(x)
g(x)=x+1
<h2>A) The slope is 14 or 14/1</h2><h2 /><h2>B) The y-intercept is (0,30) or 30</h2><h2 /><h3>y = 14x + 30</h3><h3>The +30 is the y-intercept</h3><h3>The 14x is the slope</h3><h2 /><h3><em>Please let me know if I am wrong.</em></h3>
Answer:
Your answer would be: 240,000
Step-by-step explanation:
Since slope-intercept form is y = mx + b where m is slope and b is the y-intercept, so to find what the equation of the line is, you need to find the values of both variables.
The equation for slope is (change in y)/(change in x), or y/x.
You can set up the equation like this;
[tex] m= \frac{y2-y1}{x2-x1}\\
m=\frac{10-5}{2-(-3)} \\
m=\frac{5}{2+3}\\
m=\frac{5}{5}
m=1 [tex]
So the slope of the line is 1.
To find the y-intercept, solve y = (1)x + b for b;
[tex] y=x+b\\
b=y-x [tex]
Plug the values of a point in for x and y;
[tex] b=10-2\\
b=8 [tex]
This brings your final equation to be [tex] y=x+8 [tex].