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baherus [9]
3 years ago
10

Steven wishes to save for his retirement by depositing $2,000 at the beginning of each year for thirty years. Exactly one year a

fter his last deposit, he wishes to begin making annual level withdrawals until he has made twenty withdrawals and used up the savings. Find the amount of each withdrawal if the effective interest rate is 3% during the first thirty years but only 2% after that.
Mathematics
1 answer:
Ad libitum [116K]3 years ago
8 0

Step-by-step explanation:

i = interest 3% for 30 years

This is a simple dynamical system for whom the the solutions are given as

S=R[\frac{(i+1)^n-1}{i}](i+1)

putting values we get

S=2000[\frac{(1.03)^{30}-1}{0.03}](1.03)

= $98005.35

withdrawal of money takes place from one year after last payment

To determine the result we use the present value formula of an annuity date

P = R\frac{1-(1+i)^{-n}}{i}{i+1}

we need to calculate R so putting the values and solving for R we get

R= $6542.2356

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Answer:

13

Step-by-step explanation:

3(5)+(-2)

15-2

13

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If i walk 2 block in 15 minutes what will my speed be?
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Answer:

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Step-by-step explanation:

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What is 27 kilometers into meters?
dezoksy [38]

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Step-by-step explanation:

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2 years ago
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Solve the following system of equations: 3x − 2y = 6 6x − 4y = 12 (0, 0) (6, 12) Infinitely many solutions No solutions
Fantom [35]

<u>Answer:</u>

The correct answer option is: infinitely many solutions.

<u>Step-by-step explanation:</u>

We are given the following system of equations:

3 x - 2 y = 6 --- (1)

6 x - 4 y = 1 2 --- (2)

Dividing equation (2) by 2 to get:

3 x - 2 y = 6 --- (3)

As the equation (3) is same as the equation (1), therefore the system will have infinitely many solutions.

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3 years ago
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Saby used a probability simulator to roll a 6-sided number cube and flip a coin 100 times. The results are shown in the tables b
Degger [83]
Short Answers
P(Both) = 0.1792
Givens
The total number of roles = 100
Total number of heads = 56
Number of times rolled a four =  32 [check this for me].

Set up the probabilities.
P(H) = 56/100
P(4) = 32/100
P(H)*P(4) = P(Both)

Substitute and solve
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8 0
2 years ago
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