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ruslelena [56]
4 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]4 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.

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kari74 [83]

Answer:

The answer would be $2.

Have a nice day.

4 0
3 years ago
Read 2 more answers
What is the relationship between a rotation and a reflection? Sketch a diagram that supports your explanation.
SSSSS [86.1K]

Answer with Step-by-step explanation:

Relationship between rotation and reflection:

In reflection, the pre-image gets flips across the same line.

whereas in rotation, the pre-image get spin around a point.

Rotations can be represented as two reflections i.e. the composition of reflections over two intersecting lines is always equal to rotation of that object.

In rotation, the object will get turned, this is turning some degree either clockwise or anti-clockwise.

Hence, rotation requires spinning and reflection requires flipping.

6 0
4 years ago
Nora makes $3,000 a month. The key chart below shows how much she spends her money. How much money does Nora spend on each categ
Eduardwww [97]
Rent: $ 780
Food:$ 900
Medical:$ 450
Clothes:$ 300
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8 0
3 years ago
What is two and one-fourth subtracted by one-eighth?
Illusion [34]
Two and one eighth is the answer
3 0
3 years ago
Please help: (picture)
Slav-nsk [51]

We need to solve the speed formula for d. To do so, let's start by moving the number of the left hand side:


\frac{S}{356} = \sqrt{d}


Square both sides to get rid of the square root:


\frac{S^2}{126736} = d


Now plug the known value of the speed to find the distance:


d = \frac{140^2}{126736} = \frac{19600}{126736} \approx 0.15465


So the closest answer is the last one: d=0.155km

3 0
3 years ago
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