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AveGali [126]
3 years ago
10

The average age of engineering students at graduation is a little over 23 years. This means that the working career of most engi

neers is almost exactly 500 months. How much would an engineer need to save each month to accrue $5 million by the end of her working career? Assume a 9% interest rate, compounded monthly.
Engineering
1 answer:
RideAnS [48]3 years ago
6 0

Answer:

$916

Explanation:

To solve this, we use the formula

FV = P/i * [(1+i)^n - 1], where

FV = future value of the all the money invested, $5 million

n = time span, = 500 months

P = payment per month

I = interest rate, 9% by 12 months, = 0.0075

Considering that we have been given all in our question, then we substitute directly and solve. So we have,

5000000 = P/0.0075 * [(1+0.0075)^500 -1]

5000000 * 0.0075 = P * [1.0075^500 - 1]

37500 = P * [41.93 - 1]

37500 = P * 40.93

P = 37500/40.93

P = $916.20

Therefore, the engineer needs to save $916 in a month which is the accrued

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Alex17521 [72]

Answer:

Answer is explained in the explanation section below.

Explanation:

Solution:

Note: This question is incomplete and lacks necessary data to solve. But I have found the similar question on the internet. So, I will be using the data from that question to solve this question for the sack of concept and understanding.

Data Given:

x = 27 , 44 , 32 , 47, 23 , 40, 34, 52

y = 30, 19,  24,  13 , 29,  19,  21,  14

It is given that,

∑x = 299

∑y = 167

∑x^{2} = 11887

∑y^{2} = 3773

We are asked to verify the above values manually in this question.

So,

1. ∑x = 299

Let's verify it:

∑x = 27 + 44 + 32 + 47 + 23 + 40 + 34 + 52

∑x = 299

Yes, it is equal to the given value. Hence, verified.

2. ∑y = 167

Let's verify it:

∑y = 30 + 19 +  24 + 13 + 29 + 19 +  21 +  14

∑y = 169

No, it is not equal to the given value.

3. ∑x^{2} = 11887

Let's verify it:

For this to find,  first we need to square all the value of x individually and then add them together to verify.

∑x^{2} = 27^{2} + 44^{2} + 32^{2} + 47^{2} + 23^{2} + 40^{2} + 34^{2} + 52^{2}

∑x^{2} = 11,887

Yes, it is equal to the given value. Hence, verified.

4. ∑y^{2} = 3773

Let's verify it:

Again, for this we need to find the squares of all the y values and then add them together to verify it.

∑y^{2} = 30^{2} + 19^{2} +  24^{2} + 13^{2} + 29^{2} + 19^{2} +  21^{2} +  14^{2}

∑y^{2}  = 3,845

No, it is not equal to the given value.

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3 years ago
The biggest advantage of sketches is that
steposvetlana [31]

Answer:

They communicate ideas very quickly.

Explanation:

8 0
3 years ago
The 1000-lb elevator is hoisted by the pulley system and motor M. The motor exerts a constant force of 500 lb on the cable. The
klemol [59]

The power that must be supplied to the motor is 136 hp

<u>Explanation:</u>

Given-

weight of the elevator, m = 1000 lb

Force on the table, F = 500 lb

Distance, s = 27 ft

Efficiency, ε = 0.65

Power  = ?

According to the equation of motion:

F = ma

3(500) - 1000 = \frac{1000}{32.2} * a

a = 16.1 ft/s²

We know,

v^2 - u^2 = 2a (S - So)\\\\v^2 - (0)^2 = 2 * 16.1 (27-0)\\\\v = 29.48m/s

To calculate the output power:

Pout = F. v

Pout = 3 (500) * 29.48

Pout = 44220 lb.ft/s

As efficiency is given and output power is known, we can calculate the input power.

ε = Pout / Pin

0.65 = 44220 / Pin

Pin = 68030.8 lb.ft/s

Pin = 68030.8 / 500 hp

     = 136 hp

Therefore, the power that must be supplied to the motor is 136 hp

5 0
4 years ago
The part of a circuit that carries the flow of electrons is referred to as the?
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Answer:

  Conductor

Explanation:

Current is carried by a conductor.

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The purpose of a dielectric and/or insulator is to prevent current flow. An electrostatic field may set up the conditions for current flow, but it carries no current itself.

7 0
3 years ago
Pie charts should have no more than eight segments. True or False?
Pepsi [2]

Answer:

Explanation:

Pie charts generally should have no more than eight segments.

6 0
3 years ago
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