If Lamont withdraws $2,750 monthly, he will be <u>66 years old</u> (after 134.326 months) when the money runs out.
<h3>How is the number of monthly withdrawals calculated?</h3>
We can calculate the number of monthly withdrawals using an online finance calculator.
It determines the number of periods it will take for the investment to be exhausted, given an interest rate of 3.8%.
I/Y (Interest per year) = 3.8%
PV (Present Value) = $300,500
PMT (Periodic Payment) = $-2750
FV (Future Value) = $0
<u>Results</u>:
N = 134.326 months
Years = 11 years (134.326/12)
Age at FV = $0 is 66 years (55 + 11)
Sum of all periodic payments = $-369,397.09 (134.326 x $-2,750)
Total Interest = $68,897.09
Thus, making a monthly withdrawal of $2,750 will exhaust the investment when Lamont turns <u>66</u>.
Learn more about periodic withdrawals and payments at brainly.com/question/13031679
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Answer:
θ = π n + π/2 for n element Z
Step-by-step explanation:
Solve for θ:
1 + 2 cos(2 θ) + cos^2(2 θ) = 0
Write the left hand side as a square:
(cos(2 θ) + 1)^2 = 0
Take the square root of both sides:
cos(2 θ) + 1 = 0
Subtract 1 from both sides:
cos(2 θ) = -1
Take the inverse cosine of both sides:
2 θ = 2 π n + π for n element Z
Divide both sides by 2:
Answer: θ = π n + π/2 for n element Z
Answer:
m =64/3
Step-by-step explanation:
m=21 1/3 m=21.3
Answer:
64 bags
Step-by-step explanation:
number of bags sold by Takis Scorpion BBQ = x
Number of bags sold by Takis Valcano Quesco = 3x - 6
the total number of bags = x + ( 3x - 6 )
x + 3x - 6 = 250
therefore, 4x - 6 = 250
4x = 250 + 6
4x = 256
dividing through by 4
x = 64
