Answer:
Given 40 years of time to plan in advance for retirement, Lynn would only need to save $25000 per year to end up with $1 million, which is attainable.
Step-by-step explanation:
Lets say that she starts planning for retire with 40 years in advance instead of just 15, if that is the case, then she would need to save $1.000.000/40 = $25.000 per year, which is a pretty big ammount but it is much more attainable than $67000, since it is only a third of her annual income.
Answer:
Results are below.
Step-by-step explanation:
Giving the following information:
Monthly deposit= $100
Interest rate= 0.06/12= 0.005
Number of periods= 12*5= 60 months
<u>a)</u>
<u>To calculate the future value, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
FV= {100*[(1.005^60) - 1]} / 0.005
FV= $6,977
b) <u>If the deposit is at the beginning of the month, the interest is compounded one more period</u>. We need to use the following formula:
FV= {A*[(1+i)^n-1]}/i + {[A*(1+i)^n]-A}
FV= 6,977 + {[100*(1.005^60)] - 100}
FV= 6,977 + 35
FV= $7,012
5 and 3. 5+3=8 but when you multiply them it is 5×3=15. ANSWER: 5 and 3
X=18 another equation could be 2x=36
Answer:
D) The vectors point in opposite directions.
Step-by-step explanation:
got it right on edge :)
see graph below