Janet Woo decided to retire to Florida in 6 years. What amount should Janet invest today so she can withdraw $51,500 at the end
1 answer:
Answer:
$293,562.707
Step-by-step explanation:
As for the provided details we know,
Janet needs $51,500 from end of 7th year for upcoming 20 years.
The present value of 20 installments of $51,500 shall be @ 6% from year 7 to year 8.0858
Thus total value = $51,500 8.0858 = $416,418.7
Now the compound interest factor for 6 year @ 6 % = 1.4185
Thus, value to be invested today = $416,418.70/1.4185 = $293,562.707
As this when compounded annually will provide the balance as required at the end of 6 years.
You might be interested in
#4) From the reference angle of 58° we can see that we have the side opposite to that angle as well as the hypotenuse. Recall that sin=opp/hyp so we are going to use sine to find that side
sin(58°) =
(multiply both sides by 19 to isolate x)
19 sin(58°) = x (plug into calculator)
16.1 = x
#5) From the reference angle of 56°, we see that we have the adjacent and the opposite sides. Remember that tan=opp/adj so we will use tangent to find x
tan(56°) =
(multiply both sides by 
)
(flip them so x is on the top)
[tex] \frac{12}{tan(56)} = x
8.1 = x
sin(58°) =
19 sin(58°) = x (plug into calculator)
16.1 = x
#5) From the reference angle of 56°, we see that we have the adjacent and the opposite sides. Remember that tan=opp/adj so we will use tangent to find x
tan(56°) =
[tex] \frac{12}{tan(56)} = x
8.1 = x
Answer:
a) There is a 48% probability that both Alice and Betty watch TV tomorrow.
b) There is a 48% probability that Betty watches TV tomorrow.
c) There is a 12% probability that only Alice watches TV tomorrow.
Step-by-step explanation:
We have these following probabilities:
A 60% probability that Alice watches TV.
If Alice watches TV, an 80% probability Betty watches TV.
If Alice does not watch TV, a 0% probability that Betty watches TV, since she cannot turn the TV on by herself.
a) What is the probability that both Alice and Betty watch TV tomorrow?
Alice watches 60% of the time. Betty watches in 80% of the time Alice watches. So:
There is a 48% probability that both Alice and Betty watch TV tomorrow.
b) What is the probability that Betty watches TV tomorrow?
Since Betty only watches when Alice watches(80% of the time), this probability is the same as the probability of both of them watching. So
There is a 48% probability that Betty watches TV tomorrow.
c) What is the probability that only Alice watches TV tomorrow?
There is a 60% probability that Alice watches TV tomorrow. If she watches, there is an 80% probability that Betty watches and a 20% probability she does not watch.
So
There is a 12% probability that only Alice watches TV tomorrow.