Given that the two cone are similar, then
3/7 = x/5
7x = 15
x = 15/7
You will need to deposit $ 10,957 each year until retirement to achieve your retirement goals.
<h3>What is compound interest, and how does it work?</h3>
Compound interest is computed on a loan or deposit based on the starting principle and the preceding period's accrued interest.
Principal(P)=$40,000
(Time period)T=25+15 = 40 year
R=8%
The final balance is $273,938.99 and the total compound interest is $233,938.99.
The amount he has to deposit each year is found as;
⇒$273,938.99/25
⇒ $ 10,957
Hence. you will need to deposit $ 10,957 each year until retirement to achieve your retirement goals.
To learn more about compound interest, refer to brainly.com/question/14295570
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It is just p3/p2 simplified
Answer:
y = -3x + 5
Step-by-step explanation:
Since the y-intercept occurs at the point (0,5), you can use that and the point slope equation to find the equation.
This looks like y - 5 = -3 (x - 0);
Solving for y, you get y = -3x + 5;
To graph this equation you would put one point at (0,5), then use the slope to count down three and to the left one to find other points, or you could just plug in numbers for x to find their corresponding y values and plot it like that.
Hopefully this helps- let me know if you have any questions!
