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defon
3 years ago
14

Lynne is 25 years old and starting and IRA (individual retirement account). She is going to invest $150 at the beginning of each

month. The account is expected to earn %5.5 interest, compounded monthly. How much money rounded to the nearest dollar will lynne have in her IRA if she wants to retire at age 65
Mathematics
2 answers:
JulsSmile [24]3 years ago
5 0

Answer:

$262,353

Step-by-step explanation:

Dont have an explanation but it is the right answer, Thanks to the **** that put the wrong answer.

Yuri [45]3 years ago
3 0
The future amount of Lynnes retirement account can be computed using the formula of amortization or annuity:
P = A[(1+i)^n-1)]/(i)
A= amortization
i= 5.5%
n = 40*12 = 480
Subsituting the variables in th formula, Future amount of Lynne in 40 years is equal to
P = $29,082.71
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Answer:

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Step-by-step explanation:

the bicycle wheel rotates 5 times and travels 37.94 feet, then we know that the circumference of the wheel (the outside of the wheel as it touches the ground 5 times around) is 37.94/5 = 7.588

 

Then we use the formula for the circumference of a circle: 2(pi)(radius) = circumference

 

We plug in what we know 2(3.14)(radius) = 7.588 and then solve for the radius

 

We divide 2 from both sides of the equation (3.14)(radius) = 3.794

 

We divide pi from both sides (radius) = 1.208

 

Then the last step, we multiply the radius by 2, because we need the diameter, which is double the radius

 

1.208 * 2 = 2.416 or 2.42 rounded up

 

Final answer = 2.42 feet

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