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4 years ago

10

Stan wants to start an IRA that will have $250,000 in it when he retires in 25 years. How much should he invest semiannually in

his IRA to do this if the interest is 6% compounded semiannually? Assume an Annuity Due. Round to the nearest cent.

1 answer:

beks73 [17]4 years ago

8 0

$1,041,666.70 I'm not sure but that what I think the answer is

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Step-by-step explanation:

Let x be the length of rectangular plot and y be the breadth of rectangular plot

A rectangular parking lot must have a perimeter of 440 feet

Perimeter of rectangular plot =2(l+b)=2(x+y)=440

2(x+y)=440

x+y=220

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We are also given that an area of at least 8000 square feet.

So, $xy \leq 8000$

So, $x(220-x) \leq 8000$

$220x-x^2 \leq 8000$

So, $220x-x^2 = 8000\\-x^2+220x-8000=0$

General quadratic equation : $ax^2+bx+c=0$

Formula : $x=\frac{-b \pm \sqrt{b^2-4ac}}{2a}$

$x=\frac{-220 \pm \sqrt{220^2-4(-1)(-8000)}}{2(-1)}\\x=\frac{-220 + \sqrt{220^2-4(-1)(-8000)}}{2(-1)} , \frac{-220 - \sqrt{220^2-4(-1)(-8000)}}{2(-1)}\\x=45.96,174.031$

So, The possible parking lengths are 45.96 feet and 174.031 feet

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