Answer:
3/9
Step-by-step explanation:
The amount needed such that when it comes time for retirement is $2,296,305. This problem solved using the future value of an annuity formula by calculating the sum of a series payment through a specific amount of time. The formula of the future value of an annuity is FV = C*(((1+i)^n - 1)/i), where FV is the future value, C is the payment for each period, n is the period of time, and i is the interest rate. The interest rate used in the calculation is 4.1%/12 and the period of time used in the calculation is 30*12 because the basis of the return is a monthly payment.
FV = $3,250*(((1+(4.1%/12)^(30*12)-1)/(4.1%/12))
So we have 11400 +11400×x=12711
this represents the original price plus some percentage of the original price is equal to the new price. now all we need to do is solve for x
so 11400+11400x=12711
subtract 11400 from each side
11400x=1311 now divide both sides by 11400
x=.115 or about 12%
we can. check by finding 12% of the original price.
11400×.12=1368
now add to 11400
11400+1368=12768 so we are a bit over. this is because it is actually 11.5% just depends on how accurate your answer needs to be
Answer:
i hope you can see it
Step-by-step explanation:
Use Symbolab I use it all the time it gives correct answer and it gives good explanations (this isn't a sponsor I've just been using it since the 6th grade lol)
To find the slope you need to do the
XY XY
12 12
