Answer:
The answer is 131072
Step-by-step explanation:
The total balance in Raul's account after 40 years when he retires is $65,714.90.
<h3>What is the total balance?</h3>
The formula that can be used to determine the balance of the accout is: monthly amount saved x annuity factor.
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- r = interest rate = 1.5/12
- n = number of periods = 12 x 40 = 480
$100 x [(1.00125^480) - 1 ] / 0.00125 = $65,714.90
Here is the complete question:
Raul is a saver. He sets aside $100 per month during his career of 40 years to prepare for retirement. He does not like the idea of investing because he prefers to minimize his risk as much as possible, so he puts his money in a savings account which earns 1.5% interest per year. What is the balance in the account after 40 years?
To learn more about annuites, please check: brainly.com/question/24108530
Divide all three sections height times width times times length and you get your answer.
Answer: Here you go my mans
Step-by-step explanation:
Feb 5, 2019 - Because lower-paid workers spend much of their extra earnings, this injection of wages would help stimulate the economy and spur greater business activity and job growth. ... A federal minimum wage increase to $15 in 2024 would raise ..... percent real increase in the minimum wage over its current value, ...
Answer:
d because i took the test
Step-by-step explanation: