The slope is 4/3.
rise/run
rise = 4
run = 3
Answer:
12000(1+.04)^x
Step-by-step explanation:
12000(1+.04)^x
Answer:
Step-by-step explanation:
Slope m = 5/6
The points (-2,1)
So; y1 = 1 and x1 = -2
The equation is y - y1 = m(x - x1)
y - 1 = 5/6(x + 2)
Multiply each term by 6
6y - 6 = 5(x + 2)
6y - 6 = 5x + 10
6y = 5x + 10 + 6
6y = 5x + 16
- 5x + 6y = 16
Multiplying by minus
5x - 6y = -16
The amount of money that John would have in his account when he is ready to retire is $6,351,400.21.
<h3>How much would be in the retirement account?</h3>
The formula that can be used to determine the future value of the annuity is
Future value = Daily deposit x annuity factor
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- r = 3.5 / 365 = 0.0096%
- n = (65 - 48) x 365 = 6205
Annuity factor = [(1.000096^6205) - 1] / 0.000096 = $8468.53
Future value = 750 x $8468.53 = $6,351,400.21
To learn more about annuities, please check: brainly.com/question/24108530
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