Answer:
$88,382.67
Explanation:
Here is the complete question:
Sally makes deposits into a retirement account every year from the age of 30 until she retires at age 65.If Sally deposits $1200 per year and the account earns interest at a rate of 4% per year, compounded annually, how much will she have in the account when she retires?
To calculate the future value of the annuity, we use this formula: amount x annuity factor
Annuity factor = {[(1+r) ^N ] - 1} / r
Amount = $1200
R = interest rate = 4%
N = number of years = 35
=( 1.04^35 - 1) / 0.04 = 73.652225
73.652225 × $1200 = $88,382.67
I hope my answer helps you
I’m pretty sure it’s debug!
Firm's maximum profits are 40
Profit = revenue - cost
Revenue = price x quantity = 40 x quantity
Cost = 60 + 4 x quantity x quantity
So you have:
P = 40 x Q - 60 - 4 x Q x Q
To get the maximum value for P with respect to Q, differentiate and set it to 0.
That is, set dP/dQ = 0 and solve for Q.
Since P(Q) is quadratic, dP/dQ is linear, so solving dP/dQ = 0 is easy and there is one solution.
Q=5
revenue = 5 x 40 = 200
cost = 60 + 4 x 5 x 5 = 60 + 4 x 25 = 160
Profit = 200 - 160 = 40
Learn more about Profit here: brainly.com/question/19104371
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