What is the length of DE? Need help please!!

As part of your retirement plan, you want to set up an annuity in which a regular payment of $35,000 is made at the end of each

Finger [1]

Answer:

Option d)$401,447.24

Step-by-step explanation:

We are given that as part of your retirement plan, you want to set up an annuity in which a regular payment of $35,000 is made at the end of each year at rate of 6% compounded annually for 20 years

So first of all we need to find the future value of annuity using the formula as shown below :

$FV= p\frac{[(1+\frac{r}{n})^{(n)(t)}-1)]}{\frac{r}{n}}$

Here, FV = future value of annuity

p = $35000 (annual deposit)

r is rate = 6% = 0.06

n = number of compounding = 1 ( as we are compounding annually )

t = number of years = 20

So plugging in all the values in the formula , we get

$FV= 35000\frac{[(1+\frac{0.06}{1})^{(1)(20)}-1)]}{\frac{0.06}{1}}$

Simplifying further , we get

$FV= 35000\frac{[(1+0.06)^{20}-1)]}{0.06}$

Plugging in the given values in the calculator , we get

FV = $ 1287495.69

So far we have got the Total amount for annuity , from here we need to use the concept of compound interest and find the principal amount to be deposited to get the required total amount of $ 1287495.69

The formula for compound interest when compounded annually is given by:

$A=P(1+r)^t$

Here A = 1287495.69 (Total amount required)

P = ( principal amount to be deposited to meet the required total amount )

r = 6% = 0.06

t = 20

So plugging in all the known values in the formula , we get

$1287495.69= P(1+0.06)^{20}$

simplifying further, we get

$\frac{1287495.69}{(1.06)^{20}}= P$

so required amount to be deposited is given by :

P = $401,447.24

Hope it was helpful !:)

6 0

3 years ago

Hattie accepted a job as a makeup artist after being offered a $550 signing

Radda [10]

The equation would be y=32x+550. 32 an hour is represented by 32x since she earned 32 an hour. 550 is the extra amount she is getting paid.

I hope this helps.

7 0

3 years ago

Give the coordinates of T under a dilation about the origin with scale<br> factor of .<br> T(2,-7)

tatiyna

Answer:

this answer will be 56

make me brainelist

3 0

2 years ago

We have seen examples of systems of linear equations that have no solutions, one unique solution, and infinitely many solutions.

Marianna [84]

Answer:

It is not possible for a system of linear equations to have exactly two solutions.

Step-by-step explanation:

A system of linear equations is composed of multiple equations that describe straight lines. Two straight lines can be parallel (which means that the system has no solutions), they can intersect at a single point (one solution), or they can be congruent (all points are shared by both lines, infinite solutions). Therefore, a linear system cannot have exactly two answers. At least one of the equations in the system would have to be quadratic in order to achieve exactly two answers.

4 0

3 years ago

1. Tommy and Robbie share 48 marbles between them in the ratio 5 How many

aleksley [76]

Answer:

The number of marbles does Tommy will get is 18 .

Step-by-step explanation:

Given as :

The total number of marbles share between Tommy and Robbie = 48

The marbles were distributed between then in the ratio 3 : 5

Let the number of marbles does Tommy have = 3 x

The number of marbles does Robbie have = 5 x

Now,

According to question

The total number of marbles share between Tommy and Robbie = 48

Or, the number of marbles does Tommy have + The number of marbles does Robbie have = 48

Or, 3 x + 5 x = 48

Or, 8 x = 48

∴ x = $\frac{48}{8}$

I.e x = 6

So, the number of marbles does Tommy have = 3 × 6 =18

The number of marbles does Robbie have = 5 × 6 = 30

Hence the number of marbles does Tommy will get is 18 . Answer

5 0

4 years ago