1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Debora [2.8K]
3 years ago
6

You want to be able to withdraw $4000 a month for 30 years how much would you need to have in your account with an APR of 3.4% t

o accomplish this goal
Mathematics
1 answer:
tigry1 [53]3 years ago
8 0

Answer:

  $904,510.28

Step-by-step explanation:

If we assume the withdrawals are at the beginning of the month, we can use the annuity-due formula.

  P = A(1 +r/n)(1 -(1 +r/n)^(-nt))/(r/n)

where r is the APR, n is the number of times interest is compounded per year (12), A is the amount withdrawn, and t is the number of years.

Filling in your values, we have ...

  P = $4000(1 +.034/12)(1 -(1 +.034/12)^(-12·30))/(.034/12)

  P = $904,510.28

You need to have $904,510.28 in your account when you begin withdrawals.

You might be interested in
Teresa bought 3boxes of chocolate each box has 9 pieces of chocolate inside teresa gave away 15 pieces of chocolate how many pie
lora16 [44]
Hey There!

3×9=27
27-15=12
Teresa has 12 pieces of Chocolate left

Hope This Helps!!!!
4 0
3 years ago
Read 2 more answers
The table gives predictions of the average costs of a gasoline car after the year 2030. Which graph best represents the relation
kiruha [24]

Answer:

It's the b graph

Step-by-step explanation:

Khan Academy.

4 0
2 years ago
Read 2 more answers
How many triangles can be constructed with angles measuring 120°, 40°, and 10°?
balu736 [363]
Any kind of Triangle must have 180 degree of angle in total if it is not, then it is not a Triangle.

In short, Your Answer would be Zero

Hope this helps!
6 0
3 years ago
Read 2 more answers
Please help with this question
Semenov [28]

Answer:

Line BC

Step-by-step explanation:

Opposite means whatever is exactly parallel to angle a.

In this case, we notice BC to satisfy that rule.

Hope this helps.

Good Luck

5 0
3 years ago
Read 2 more answers
Allen's hummingbird (Selasphorus sasin) has been studied by zoologist Bill Alther.† Suppose a small group of 10 Allen's hummingb
ruslelena [56]

Answer: provided in the explanation segment

Step-by-step explanation:

(a). from the question, we can see that since that б is known, we can use standard normal, z.

we are asked to find an 80% confidence interval for the average weights of Allen's hummingbirds in the study region. What is the margin of error?

⇒ 80% confidence interval for the average weight of Allen's hummingbirds is given thus;

x ± z * б / √m

which is

3.15 ± 1.28 * 0.32/√10

= 3.15 ± 0.1295 = 3.0205 or 3.2795

(b). normal distribution of weight (c) б is known

(c). option (a) and (e) are correct

(d).  from the question, let sample size be given as S

this gives';

1.28 * 0.32/√S = 0.15

√S = (1.28 * 0.32) / 0.15 = 2.73

S = 7.4529

cheers i hope this helps

6 0
2 years ago
Other questions:
  • What's the product of 19 and 3.6 and the sum for 2.87 and 3.5
    6·2 answers
  • Find the difference between <br> 10 and −25 (Hint: Subtract the numbers in the order given.)
    13·1 answer
  • Determine a rational number that is located between -2 1/4 and -2.8
    9·2 answers
  • An item is priced at $14.29. If the sales tax is 8%, what does the item cost including sales tax?
    11·1 answer
  • Need helpppp helppp plzzzz 20 points
    11·2 answers
  • A pool holds 1620 gallons.
    10·2 answers
  • Help me please!!!!!!!!!!!!!!!!
    15·1 answer
  • 2. If h(x) = -3x2 - 5x -5, find h(-2).
    13·1 answer
  • 1. Find the compound interest and maturity value if P = P43,000, with a rate of 5% is compounded semi-annually for 6 years.​
    6·1 answer
  • image Which absolute value equation represents the graph? Question 7 options: A) ƒ(x) = –|3x| – 5 B) ƒ(x) = 5|x| – 3 C) ƒ(x) = |
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!