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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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Given the system of equations, what is the solution? x 3y = 5 x - 3y = -1 {(-4, -3)} {(2, 1)} {(-2, 3)}
PSYCHO15rus [73]

The solution of the equation is (2, 1).

x=2 and y=1

<h3>What do you meant by equation?</h3>

A mathematical assertion that two expressions are equal is known as equating. It can be expressed as either an identity, in which case the variables can take on any value, or a conditional equation, in which case the variables can only have specific values (roots).

<h3>According to the given information:</h3>

We have two options for finding the answer. The first is to solve the equations via term elimination:

x + 3y = 5  ..............1

x - 3y = -1  ...............2

2x = 4 ..............3

With the equation, we can determine x. (3)

x = 4/2

x = 2

To determine y, we may now swap out x=2 in equation (1).

x + 3y = 5

2 + 3y = 5

3y = 3

y = 1

We've discovered x and y now.

x=2

y=1

The second method involves removing x from equation 1.

x + 3y = 5

x = 5 - 3y

In the equation right now, we may substitute x = 5 - 3y.........  (2)

x - 3y = -1

(5 - 3y) - 3y = -1

5 - 6y = -1

6y = -6

y = 1

Currently, we can change y=1 in equations (1), (2), or (4) to find x.

We'll apply the equation (1)

x + 3y = 5

x + 3(1) = 5

x + 3 = 5

x = 2

The two variants x = 2 and y = 1 have allowed us to confirm this.

To know more liner equation visit:

brainly.com/question/2995422

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7 0
2 years ago
Someone help me please !!!!
krek1111 [17]

Answer:

10

Step-by-step explanation:

the explanation is in the picture

please like and Mark as brainliest

7 0
3 years ago
Without using a calculator, fill in the blanks with two consecutive integers to complete the following inequality.
Mariana [72]

Answer:

11≤√134≤12

Step-by-step explanation:

11^2 is 121

and 12^2 is 144

so √134 would have to fall between these numbers

7 0
3 years ago
Which expression is the sum of
arlik [135]

Answer:

b

Step-by-step explanation:

its b because you add the 3.4n +2.5n then you subtract -5.3+2.8

6 0
3 years ago
\(\left\{-16,1 4,1 - 1,... \right\}V<br> Formulate
lakkis [162]

Answer:

a

n

=

−

16

(

−

1

4

)

n

,

n

=

{

0

,

1

,

2

,

3

,

⋯

}

Step-by-step explanation:

We have the sequence

{

−

16

,

4

,

−

1

,

⋯

}

By looking at the first three terms of the sequence, we can already see a pattern.

Starting at -16, each term has its sign reversed, and is divided by 4.

Hence the sequence can be written as:

{

−

16

,

−

16

(

−

1

4

)

,

−

16

(

−

1

4

)

2

,

⋯

}

So the formula for the

n

th term of the sequence is

a

n

=

−

16

(

−

1

4

)

n

,

n

=

{

0

,

1

,

2

,

3

,

⋯

}

7 0
3 years ago
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