The following formula is applicable;
A=P(1+r)^n
Where,
A = Total amount accrued after 10 years (this is the amount from which the yearly withdrawals will be made from for the 30 years after retirement)
P=Amount invested today
r= Annual compound interest for the 10 years before retirement
n= Number of years the investments will be made.
Therefore,
A= Yearly withdrawals*30 years = $25,000*30 = $750,000
r= 9% = 0.09
n= 10 years
P= A/{(1+r)^n} = 750,000/{(1+0.09)^10} = $316,808.11
Therefore, he should invest $316,808.11 today.
'<em>Option B' </em><em>is the correct answer....</em>
7-12(3+b)=31
7-36+12b=31
-29+12b=31
12b=31+29
12b=60
b=5
Answer:
44=y
Step-by-step explanation:
27+x=y
We know x = 17, so we can substitute x=17 into the equation
27 + 17 = y
44=y
Answer:
A theorem stating that the square of the length of the hypotenuse of a right triangle is equal to the sum of the squares of the lengths of the other sides. It is mathematically stated as c2 = a2 + b2, where c is the length of the hypotenuse and a and b the lengths of the other two sides.
Step-by-step explanation:
