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Keith_Richards [23]
3 years ago
10

You plan to save $600 a month for the next 30 years for retirement. What interest rate would you need to have $1,000,000 at reti

rement?
Need to solve for interest rate paying into an annuity using formula
P = d(((1+r/k)^(Nk) -1)/(r/k))
P = payout amount (1,000,000)
d = monthly deposit (600)
r = interest rate (unknown)
k = number of times per year interest is compounded (assumed to be the same as the deposit frequency = 12)
N = number of years (30)
PLEASE post steps for this. This is the last question on a set of math homework and I've been able to find no useful info on how to solve this.
Mathematics
1 answer:
Nezavi [6.7K]3 years ago
5 0
600 x ( ) = 1,000,000
fill in the blank 
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Danielle and Emilia brought apples, bananas, and oranges to a fruit sale.
lilavasa [31]

Answer:

26 apples

Step-by-step explanation:

bananas, b= $0.50

oranges, o= $0.75

apples, a = $0.75  

Total fruit sold = 50

Total Earned  = $33.50

b + o + a = 50       Because the total number of all 3 fruits sold is 50

.5b + .75o + .75a =  $33.50           The number of each fruit, multiplied by the price of each fruit, and added together is $33.50

They sold twice as many bananas than oranges.

If o is oranges, then 2o = b because there are twice as many bananas so:

b + o + a = 50

2o + o + a = 50  

3o + a = 50

Now we can solve.

3o + a = 50

a = 50 - 3o

.5b + .75o + .75a =  $33.50

.5(2o) + .75o + .75a = $33.50

o + .75o + .75a = $33.50

1.75o + .75a = $33.50

Two equations and 2 unknowns.

a = 50 - 3o

1.75o + .75a = $33.50       Plug in a to solve for o.

1.75o + .75(50 - 3o) = $33.50

1.75o + .75*50 - .75*3o = $33.50

1.75o + 37.5 - 2.25o = $33.50   Combine like terms

1.75o - 2.25o +37.5 = $33.50

-.5o + 37.5 = 33.5     Add .5o to each side so it cancels on the left.

37.5 = 33.5 + .5o   Subtract 33.5 from each side

37.5 -33.5 = .5o

4 = .5o   Divide each side by .5

4/.5 = o

8 = o

Now plug into a = 50 - 3o

a = 50 - 3(8)

a = 50 - 24

a = 26

So even though we know they sold 26 apples, let's finish solving to check our work.

b + o + a = 50

b + 8 + 26 = 50

b + 34 = 50

b = 50 - 34

b = 16      

b = 2o  

b = 2 (8)

b = 16   Which works! Now the last step of checking our work:

.5b + .75o + .75a =  $33.50

.5(16) + .75(8) + .75(26) =  $33.50

8 + 6 + 19.5 = $33.50

14 + 19.5 = $33.50

33.5 = $33.50  Yes! It works too!

bananas = 16

oranges = 8

apples = 26

3 0
3 years ago
cool/3d18c3ab-98a2-4989-9e70-1d62f58e3bcf/Showitem?returnView=&studentItemid=0&backPath Question 3 of 17 A room has dime
galben [10]

Answer:

Perimeter = 2*Length + 2*Width

                = 2(10’6”) + 2(14)

                = 21’ + 28’

                = 49’

Step-by-step explanation:

8 0
3 years ago
A train traveling south leaves the station at a constant rate of 62 kilometers per hour. A second train traveling north leaves t
malfutka [58]

Answer: 3.5 hours

Step-by-step explanation:

68 + 62 = 130

455 / 130 = 3.5

Hope this helps you! :)

7 0
3 years ago
Read 2 more answers
Rays QR and QS are tangents to circle P at R and S. If Q measures to 54°, find RS
Ainat [17]

Answer: 126^{\circ}

Step-by-step explanation:

If we draw RP and PS, then in the quadrilateral formed, we know that \angle PRQ=\angle PSQ=90^{\circ}, and since angles in a quadrilateral add to 360 degrees, this means \angle SPR=126^{\circ}.

Thus, arc RS also measures 126 degrees

8 0
2 years ago
Factor the polynomial completely. Use synthetic division. <br><br> F(x) = x^3-7x-6
aleksklad [387]

Answer:

The factors of given polynomial    x =-1 , -2 and x =3

Step-by-step explanation:

<u><em>Step(i):</em></u>-

Given the polynomial  

                    f(x) =  x³ - 7x -6

 put x =-1

               f(-1) = (-1 )³- 7(-1) - 6 = -1+7-6=0

(x+1) is a one factor

By using synthetic division

                   x³    x²      x      constant

     x=-1  ↓   1      0      -7        -6

             <u>↓   0     -1      1          6</u>

            <u>       1       -1      -6       0     </u>

<u />

<em>The polynomial    x² - x - 6 </em>

<u><em>Step(ii):-</em></u>

The factors ( x+1)(x² - x - 6 ) = 0

     x = -1 and x² - x - 6 =0

    x =-1    and  x² - 3x + 2 x - 6 =0

   x =-1     and  x (x -3) + 2( x-3) =0

   x =-1     and  (x+2)(x-3) =0

<u><em>Final answer:-</em></u>

The factors of given polynomial    x =-1 , -2 and x =3

6 0
3 years ago
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