Answer:
Amount he must have in his account today is $5,617.92
Step-by-step explanation:
Data provided in the question:
Regular withdraw amount = $900
Average annual interest rate, i = 4% = 0.04
Time, n = 7 years
Now,
Present Value = ![C \times\left[ \frac{1-(1+i)^{-n}}{i} \right] \times(1 + i)](https://tex.z-dn.net/?f=C%20%5Ctimes%5Cleft%5B%20%5Cfrac%7B1-%281%2Bi%29%5E%7B-n%7D%7D%7Bi%7D%20%5Cright%5D%20%5Ctimes%281%20%2B%20i%29)
here,
C = Regular withdraw amount
Thus,
Present Value =
Present Value = ![900 \times\left[ \frac{1-(1+0.04)^{-7}}{ 0.04 } \right] \times(1 + 0.04)](https://tex.z-dn.net/?f=900%20%5Ctimes%5Cleft%5B%20%5Cfrac%7B1-%281%2B0.04%29%5E%7B-7%7D%7D%7B%200.04%20%7D%20%5Cright%5D%20%5Ctimes%281%20%2B%200.04%29)
Present Value = ![936 \times\left[ \frac{1 - 1.04^{-7}}{ 0.04} \right]](https://tex.z-dn.net/?f=936%20%5Ctimes%5Cleft%5B%20%5Cfrac%7B1%20-%201.04%5E%7B-7%7D%7D%7B%200.04%7D%20%5Cright%5D)
Present Value = ![936 \times\left[ \frac{1 - 0.759918}{ 0.04} \right]](https://tex.z-dn.net/?f=936%20%5Ctimes%5Cleft%5B%20%5Cfrac%7B1%20-%200.759918%7D%7B%200.04%7D%20%5Cright%5D)
Present Value = 936 × 6.00205
or
Present Value = $5,617.92
Hence,
Amount he must have in his account today is $5,617.92
9514 1404 393
Answer:
144
Step-by-step explanation:
Put the value where the variable is and do the arithmetic.
4(t -1)² = 4(7 -1)² = 4(6²) = 4(36) = 144
Answer:
21
Step-by-step explanation:
1/5 * 35 = 7
7*3 = 21
Answer:
-15
Step-by-step explanation: the only numbers that can be used under a 0 is negative and since its colder it goes down -15+0 is -15
Answer:
Scientist's do just general things anyone else would do to solve a problem.
Step-by-step explanation:
Scientists use their senses to observe
Scientists measure things, including distances, and weights.
Scientists also communicate their findings with other scientists and with the public.
If you have any questions feel free to ask in the comments.
