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alex41 [277]
3 years ago
9

Jim Hunter has decided to retire to Florida in 10 years. What amount should Jim invest today so that he'll be able to withdraw $

25,000 at the end of each year for 30 years after he retires? Assume he can invest money at 9% interest compounded annually.
Mathematics
1 answer:
ipn [44]3 years ago
7 0
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.
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3 years ago
What is b. -25b - 92=133
muminat
B = -9

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The number of leaves that fall off a tree n days after day 1 is given by the function f (n) = 3(2)".
densk [106]

Answer:

A. On the first day, 3 leaves fall.

B. D. The number of leaves that fall on a given day is 2 times the number of leaves that fell on the previous day.

Step-by-step explanation:

Given

f(n) = 3(2)^n

Solving (a) The meaning of 3.

3 represents the initial number of leaves (i.e. the first day) and this proved as follows.

On the first day, n = 0.

Substitute 0 for n in f(n) = 3(2)^n

f(0) = 3(2)^0

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Solving (b) The meaning of 2.

2 represents the rate which leaves fall down.

In (a)

f(0) = 3

Take n = 1

Substitute 1 for n in f(n) = 3(2)^n

f(1) = 3(2)^1

f(1) = 3*2

f(1) = 6

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4 0
3 years ago
A company dyes two sizes of rugs. A small rug requires 4 hours for dyeing and a medium-size rug requires 6 hours for dyeing. The
Free_Kalibri [48]

Answer:

4x + 6y > 120

Step-by-step explanation:

i got the same question on my midterm exam.

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3 years ago
Can someone please help me
Rzqust [24]

Answer:

the graph of the function is non-linear

the table can be represented by the equation y=4x+4

Step-by-step explanation:

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any more help just ask :)

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