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Morgarella [4.7K]
4 years ago
7

Suppose that an insurance agent offers you a policy that will provide you with a yearly income of $73,000 in 30 years. What is t

he comparable annual salary today, assuming an annual inflation rate of 4% (compounded annually)? (Round your answer to the nearest cent.)
Mathematics
1 answer:
pickupchik [31]4 years ago
8 0

Answer:

Comparable annual salary today is $22,507.26

Step-by-step explanation:

Data provided in the question:

Yearly income = $73,000

Time period, n = 30 years

Annual inflation rate = 4% = 0.04

Now,

Using the compounding formula, we have

Future value  = Present value × (1 + rate of inflation)ⁿ

or

$73,000 = Present value × (1 + 0.04)³⁰

or

$73,000 = Present value × 3.243

or

Present value = $22,507.26

Hence,

Comparable annual salary today is $22,507.26

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shutvik [7]

Answer:

HJ is 8

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Step-by-step explanation:

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7 0
3 years ago
Price-club sells a 12-ounce package of spaghetti noodles for $3.44 and Shop Mart sells a 2-pound box of spaghetti noodles for $8
Eva8 [605]

The unit price per ounce at Price club is $0.29 and the unit price per ounce at Shop Mart is $0.26

Step-by-step explanation:

Price of 12 ounce package at Price Club = $3.44

Unit rate per ounce = \frac{Price\ of\ package}{Weight\ of\ package}

Unit rate per ounce = \frac{3.44}{12} = \$0.29

Price of 2 pound box at Shop Mart= $8.35

1 pound = 16 ounce

2 pound = 16*2 = 32 ounces

Unit rate per ounce = \frac{Price\ of\ package}{Weight\ of\ package}

Unit rate per ounce = \frac{8.35}{32} = \$0.26

The unit price per ounce at Price club is $0.29 and the unit price per ounce at Shop Mart is $0.26

Keywords: unit rate, division

Learn more about division at:

  • brainly.com/question/4401748
  • brainly.com/question/4459688

#LearnwithBrainly

5 0
3 years ago
Is -27 meters deeper than -31 meters
kari74 [83]
No -31 would be deeper.
4 0
3 years ago
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Geo help pls! 20 PTS
Mice21 [21]
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3 years ago
What term is used to describe the graphical representation of the change in microbial population over time?
ruslelena [56]

Answer:

The term exponential is often used.

Step-by-step explanation:

The term exponential is used to represent changes in population over time.  The idea of (positive) exponential is that the higher the number, the higher the growth. You can relate this with a population, because the higher the population, the more opportunities for it to multiply, thus, the higher it grows.

Usually the way to meassure the population of an species after certain number of years x, you use an exponential function of the form

f(x) = K_0 * a^x

For certain constants K₀ and a. K₀ is the initial population at the start of the experiment and <em>a </em>number of exponential growth. Essentially, the population of the species is multiplied by a during each year.

For example, if K₀ = 1000 and a = 2, then the population at the start of the experiment is 1000. After the first year is 1000*2 = 2000 and after the second year it is 2000*2 = 4000. Note that, not only the population grow during the years, but also the amount that the population increases also grow: in the first year it grows 1000, and between the first and second year it grows 2000.

7 0
3 years ago
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