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jeyben [28]
4 years ago
7

Suppose our retirement account pays 9% apr compounded monthly; what size nest egg do we need in order to retire with 25 years th

at yields to $5,000 per month? Show all work
Mathematics
1 answer:
Natalka [10]4 years ago
3 0

Answer:

  $595,808.11

Step-by-step explanation:

We assume the retirement account is intended to pay out $5000 per month for 25 years. The amortization formula can be used to find the required amount. The monthly payment A based on principal P with interest at annual rate r for t years satisfies the relation ...

  A = P(r/12)/(1 -(1 +r/12)^(-rt))

  P = A(12/r)(1 -(1 +r/12)^(-rt))

  P = 5000(12/0.09)(1 -(1 +.09/12)^-300)

  P = $595,808.11

The required nest egg is $595,808.11.

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iVinArrow [24]

Answer:

x = \sqrt{99}

Step-by-step explanation:

Based on the Pythagoras theorem, where a and b are the legs of the triangle and c is the hypotenuse.

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3 years ago
PLEASE ANSWER ASAP!!! SHOW ALL THE STEPS.
fenix001 [56]

Answer:

For the first question x = 4\\ y = -1 and

For the second question x = 0.5\\ y = -1

Step-by-step explanation:

Given:

1.

x - 3y = 7

3x + 3y = 9

2.

8x+ 3y = 1

4x + 2y = 0

Elimination method :

In the elimination method we need to make the coefficient of x or the coefficient of y same in both the equation so by adding or subtracting we can eliminate the x term or the y term.

Then substitute that values which you will get on eliminating in any equation you will get the corresponding value.

For the first question, the y coefficient is same hence by adding both the equation we can eliminate 3y term. so on solving we get

(x - 3y) + (3x + 3y) = 7 + 9\\4x = 16\\x = \frac{16}{4}\\x = 4

Now substitute X equal to 4 in equation x -3y = 7 we get

4 - 3y = 7\\-3y = 7 - 4\\-3y = 3\\y = \frac{3}{-3}\\ y = -1\\

This way we have x is equal to 4 and y is equal to -1  for question number 1.

For the second question, we will make X coefficient same in the second equation that is multiplying by 2 to the equation 4x + 2y = 0 then we get

8x + 4y = 0\\

Now the coefficient of x term become same now we will subtract the two equations that is 8x + 3y = 1 and 8x + 4y =0 we get

(8x + 3y) - (8x + 4y) = 1 - 0\\3y - 4y = 1\\ -y = 1\\y = -1

Now substitute y equal to -1 in equation 8x +3y = 1 we get

8x + 3\times -1 = 1\\8x - 3 = 1\\8x = 1 + 3\\8x = 4\\x = \frac{4}{8}\\ x = 0.5\\

This way we have x is equal to 0.5 and y is equal to -1  for question number 2.

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3 years ago
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Answer:

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Step-by-step explanation:

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aleksandrvk [35]

Answer:

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Step-by-step explanation:

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