1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ruslelena [56]
3 years ago
9

17. (Ignore income taxes in this problem.) If you wanted to withdraw $12,000 from a bank account at the end of each of the next

20 years, approximately how much would you have to invest in the account today assuming a 6% interest rate?
a. $20,924
b. $38,462
c. $74,880
d. $137,604
Mathematics
1 answer:
Rufina [12.5K]3 years ago
8 0

Answer:

  d.  $137,604

Step-by-step explanation:

The amortization formula is good for this. It tells you the principal P that must be invested to support payments of A each year for t years when the interest rate is r:

  P = A(1 -(1 +r)^-t)/r

  P = $12,000(1 -1.06^-20)/0.06 ≈ $137,639.05

The closest answer choice is $137,604.

You might be interested in
Complete the point-slope equations of the line through (3,6) and (5,-8). Use exact numbers.
s2008m [1.1K]

Answer:

y - 6 = - 7(x - 3)

Step-by-step explanation:

The equation of a line in point- slope form is

y - b = m(x - a)

where m is the slope and (a, b) a point on the line

Calculate m using the slope formula

m = (y₂ - y₁ ) / (x₂ - x₁ )

with (x₁, y₁ ) = (3, 6) and (x₂, y₂ ) = (5, - 8)

m = \frac{-8-6}{5-3} = \frac{-14}{2} = - 7

Use either of the 2 points for (a, b)

Using (3, 6), then

y - 6 = - 7(x - 3) ← in point- slope form

7 0
3 years ago
The length of a pencil is 128 mm correct to the nearest
Cloud [144]
128 mm is the corrrect but not corre I by score u should.
4 0
2 years ago
Please help answer alll
poizon [28]
A= there are "4"one fourths in one hour and he hikes 2 miles every hour

B= 1, 1 1/2, 2, 4

C= it going to be 1/3 mile for every 1/6hour and she hikes 2 miles every hour.

D= 2/3, 1, 2, 4
7 0
3 years ago
The Taieri Plain in New Zealand is 6 feet below sea level (or –6 feet). If you are standing 3 feet above sea level, is your elev
TiliK225 [7]

Answer:

  no

Step-by-step explanation:

Opposite numbers are the same distance from 0 on the number line, but in opposite directions. Steps I would follow:

  • first, check the directions to make sure they are opposite,
  • then read the digits, or count the tick marks or compare lengths with dividers or ruler or marks on a piece of paper to see if the distances are the same.

  3 is not the opposite of -6

__

  6 is the opposite of -6

8 0
3 years ago
Read 2 more answers
The diagram shows a regular dodecagon.Work out the size of one interior angle
nikdorinn [45]

Answer:

150°

Step-by-step explanation:

number of terms=12

sum of exterior angles=360

one exterior angle=360/12=30

interior angle=180-30=150°

5 0
3 years ago
Other questions:
  • Ryan shaded 70 squares on his hundredths grid. Sarah shaded 80 squares on her hundredths grid .Which decimals show how much of t
    9·1 answer
  • The sugar content of the syrup in canned peaches is normally distributed. A random sample of n = 10 cans yields a sample standar
    14·1 answer
  • Google says the answer is -6 but i have no idea how it got that<br> (-17) -4 +19 + (-4)
    12·1 answer
  • Rewrite the following radical expressions as equivalent exponential expressions.<br> b. 2(4√3)
    13·1 answer
  • Find the midpoint of A and B has coordinates (2,9) and B has coordinates (7,4)
    6·1 answer
  • Expand using the distributive property -2(2 + 3x)​
    12·2 answers
  • HELPPPP MEEE
    10·1 answer
  • ms.vellejo has these cans of soup in her cabinet 1 can of tomato soup 4 cans of chicken soup 3 cans of cheese soup 2 cans of bee
    10·1 answer
  • Does the point (5 6) satisfy the equation y = 2x - 7
    13·1 answer
  • Long division:<br> (2x² - 5x - 3) ÷ (x - 3)
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!