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irina1246 [14]
3 years ago
13

Suppose Adam wants to have $750,000 in his IRA at the end of 30 years. He decides to invest in an annuity paying 6% interest, co

mpounded annually. What does he have to contribute each year to reach this goal?
Mathematics
1 answer:
OLga [1]3 years ago
6 0

Answer:

  $9486.68

Step-by-step explanation:

The future value of a annuity formula can be used:

  FV = P((1+r)^n -1)/r

  750000 = P(1.06^30 -1)/0.06

  P = 750000(.06)/(1.06^30 -1) = 9486.68

Adam has to contribute $9,486.68 each year to reach his goal.

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If the 6th term of an arithmetic progres- sion is 11 and the first term is 1, find the common difference.​
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Answer:

2

Step-by-step explanation:

An arithmetic progression with first term a and common difference d has the following first 6 terms:

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2 years ago
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KonstantinChe [14]

Answer:

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The '3' in the fraction means we take the power, which means we must cube '5'.

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Which simplifies to:

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