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viva [34]
3 years ago
5

Between the two investment plans listed below, which will have the greatest future value and by what amount? Round all answers t

o the nearest cent.
A 2-column table with 3 rows. Column 1 is labeled 401 (k) with entries An employee contribution of 9 percent on an annual salary of 45,624 dollars and Employer matches 3 percent of employee contribution, compounded annually at 1.2 percent, annual contributions for 30 years. Column 2 is labeled Roth I R A with entries monthly deposit of 352 dollars and 45 cents, compounded monthly at 1.2 percent, monthly contributions for 30 years.

Just copy this: To determine the future value for the 401(k), we need to determine the amount contributed annually. It is stated that the amount the employee contributes to the fund is 9% of $45,624. $45,624(0.09) = $4,106.16 The employer contributes a maximum of 3% of the employee contribution. Therefore: $45,624(0.03) = $1368.72. Therefore, the total annual contribution is $5,474.88, giving a future value of $196,302.40. For the Roth IRA, the monthly contributions are $352.45 giving a future value of $152,636.09. Therefore, the 401(k) has a greater future value by $43,666.31.
Mathematics
1 answer:
inn [45]3 years ago
5 0

Answer:

from original question:

Step-by-step explanation:

To determine the future value for the 401(k), we need to determine the amount contributed annually. It is stated that the amount the employee contributes to the fund is 9% of $45,624. $45,624(0.09) = $4,106.16 The employer contributes a maximum of 3% of the employee contribution. Therefore: $45,624(0.03) = $1368.72. Therefore, the total annual contribution is $5,474.88, giving a future value of $196,302.40. For the Roth IRA, the monthly contributions are $352.45 giving a future value of $152,636.09. Therefore, the 401(k) has a greater future value by $43,666.31.

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Alexa has some dimes and some quarters. She has a minimum of 28 coins worth a maximum of $5.05 combined. If Alexa has 17 quarter
Lerok [7]

Answer:

There are no possible solutions

Step-by-step explanation:

Given:

Minimum number of coins Alexa has =28 coins

Number of quarters Alexa has = 17 quarters

Total amount in coins = $5.05 = 505 cents

Let number of dimes be = x coins

So we can have two inequalities.

1) Total number of coins

x+17\geq28\\  [Since minimum number of coins=28]

2) Total value of coins

10x+(25)(17)\leq505 [As 1 dime=10 cents and 1 quarter=25 cents]

10x+425\leq505

Solving inequality (1)

Subtracting both sides by 17.

x+17-17\geq28-17

∴ x\geq 11

Solving inequality (2)

Subtracting both sides by 425.

10x+425-425\leq505-425

10x\leq 80

Dividing both sides by 10.

\frac{10x}{10}\leq \frac{80}{10}

∴ x\leq 8

On combining both solutions

x\geq 11 and  x\leq 8 ,

we see that there are no possible solutions as number of dimes cannot be ≥11 and ≤8 at the same time.

7 0
3 years ago
The sum of theee consecutive numbers is 90. what is the smallest of the three numbers?
zlopas [31]

29

Note that consecutive numbers have a difference of 1 between them.

let n be the smallest integer then the three integers can be expressed as

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the sum is then

n + n + 1 + n + 2 = 90

3n + 3 = 90

subtract 3 from both sides of the equation

3n = 90 - 3 = 87

divide both sides by 3

n = \frac{87}{3} = 29

the three integers are 29, 30, 31 → the smallest is 29


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90% of people did come
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