Based on the amount that Steve Weatherspoon wants to withdraw every year beginning in June 30, 2024, and the interest rate, the balance on June 30th 2023 should be $45,203.
<h3>What should the balance be in 2023?</h3>
The fact that Steve Weatherspoon wants to be able to withdraw a particular amount every year, this makes this amount an annuity.
The value in 2023 would therefore be the present value of the annuity that will then accrue to the required amounts as the years go by.
The present value of an annuity is:
= Annuity amount per year x Present value interest factor of an annuity, 11%, 3 years between 2024 and 2027
Solving gives:
= 13,126.25 x 3.44371
= $45,203
In conclusion, the balance on the fund in 2023 should be $45,203 in order for Steve Weatherspoon to achieve his objectives.
Find out more on the present value of an annuity at brainly.com/question/25792915
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Answer:
The maximum value of the equation is 1 less than the maximum value of the graph
Step-by-step explanation:
We have the equation 
.
We can know that this graph will have a maximum value as this is a negative parabola.
In order to find the maximum value, we can use the equation 
In our given equation:
a=-1
b=4
c=-8
Now we can plug in these values to the equation
Now we can plug the x value where the maximum occurs to find the max value of the equation
This means that the maximum of this equation is -4.
The maximum of the graph is shown to be -3
This means that the maximum value of the equation is 1 less than the maximum value of the graph
Its 47/8 hope this helped all you need to do is keep the 8 like how it is and then you do 5 times 8 and add 7 thats it
Answer:
28x +196 in^2
Step-by-step explanation:
The outside dimension of the square green rug is (x+14), so its area is (x+14)^2. The area of the green band will be the difference between this and the area of the yellow square, (x^2).
green band area = (x +14)^2 -(x^2) = x^2 +28x +196 -x^2
green band area = 28x +196 . . . . square inches
