Solve for p: a = 2πpw
1 answer:
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Answer:
Lisa invest "$2180.81" in her bank.
Step-by-step explanation:
The given values are:
On Lisa's 62nd birthday,
she withdraw = $10,000
The annuity of $A will remain at 3 percent for 40 years. The retirement pension of $10000 lasts 23 years at rate percentage of 3 but begins 40 years later.
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⇒ ($)
Answer:
P(t) = 282.2(1.009)^t
Step-by-step explanation:
Look at the attached image.
Hope you can read my handwriting. the image cut off the right side, b = 1.009213324... but question asks to round to nearest thousandth so it's 1.009
For the second part just use the equation to find P when t = -1 and see if P is less than (underpredicts) the number from the question or greater than (overpredicts) the number. I haven't calculated it but I think it will be smaller and thus underpredicts just from looking at the numbers when t = -1
