The following formula is applicable;
A=P(1+r)^n
Where,
A = Total amount accrued after 10 years (this is the amount from which the yearly withdrawals will be made from for the 30 years after retirement)
P=Amount invested today
r= Annual compound interest for the 10 years before retirement
n= Number of years the investments will be made.
Therefore,
A= Yearly withdrawals*30 years = $25,000*30 = $750,000
r= 9% = 0.09
n= 10 years
P= A/{(1+r)^n} = 750,000/{(1+0.09)^10} = $316,808.11
Therefore, he should invest $316,808.11 today.
Answer:
-3.2 is the answers for the question
Step-by-step explanation:
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Answer:
The value of y is 
Step-by-step explanation:
we know that
A relationship between two variables, x, and y, represent a proportional variation if it can be expressed in the form 
or 
In a proportional relationship the constant of proportionality k is equal to the slope m of the line and the line passes through the origin
In this problem the line passes through the origin
therefore
Is a proportional variation
Find the value of k
with the point 
The equation is equal to
so
For 
substitute
Assuming she buys every yard of fabric for the same price, we divide $8 by 3 to find the price of 1 yard of fabric. Then we multiply 8/3 by 2 to find the cost of 2 yards of fabric.
$8/3 *2 = $16/3 =$ 5 1/3 = $5.3333
