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Answer:
Amount per month contributed by employer $ = 200*0.70 = 140
Total amount employer contributes $ = 140*420 = 58800
Total amount employee contributes $ = 200*420 = 84000
Total amount after 35 years with interest calculated AT 4.8% (Employer + employee + interest) $ = 371024.67
Interest amount for 35 years accumulated $ = 228224.67
Amount deposited by employee $ = 84000
Excess amount in the account over the employee contribution
Including employer contribution $ = 287024.67
Excluding employer contribution $ = 228224.67
Step-by-step explanation:
LOOK AT THE PICTURE FOR STEPS
Answer:
p=$193.86 (assuming we are talking about dollars)
Step-by-step explanation:
In order to solve this problem, we must set each function equal to each other, so we end up with the following equation we must solve for p:
So next, we divide both sides of the equation by 130 and by
So we get:
and we simplify, so we get:
which can be further simplified to:
and next, we take the natural logarithm to both sides, so we get:
0.006p=ln(3.2)
and finally we divide both sides of the equation by 0.006 so we get:
and simplify so we get our answer:
p=$193.86 (in the case that p is given in dollars)