The total balance in Raul's account after 40 years when he retires is $65,714.90.
<h3>What is the total balance?</h3>
The formula that can be used to determine the balance of the accout is: monthly amount saved x annuity factor.
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- r = interest rate = 1.5/12
- n = number of periods = 12 x 40 = 480
$100 x [(1.00125^480) - 1 ] / 0.00125 = $65,714.90
Here is the complete question:
Raul is a saver. He sets aside $100 per month during his career of 40 years to prepare for retirement. He does not like the idea of investing because he prefers to minimize his risk as much as possible, so he puts his money in a savings account which earns 1.5% interest per year. What is the balance in the account after 40 years?
To learn more about annuites, please check: brainly.com/question/24108530
I need to be informed of AC and BC are normal sides or the hypotenuse....
Answer:
-2/5
Step-by-step explanation:
your answer is -2/5 because whenever you have two points you can go ahead and just do rise over run and the formula is y1-y2/x1-y1 now you can go ahead and label them so y1 is 2, y2 is 4, x1 is 2 and x2 is -3 and now plug everything in
2-4/2-(-3)
-2/5
Answer:
Step-by-step explanation:what are the answers inside the boxes
It cost 4 dollars because a gift card is 52 and 52x3 is 156 and 168 minus 156 is12
