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solmaris [256]
3 years ago
8

Ed turns 34 and deposits $100 at the end of each month in IRA that earns 9% interest p.A compounded monthly. Find how much will

be in the IRA if Ed retires at the age 60.
Mathematics
1 answer:
pickupchik [31]3 years ago
3 0

Answer:

FV= $123,879.85

Step-by-step explanation:

Giving the following information:

Montlhy deposit (A)= $100

Monthly interest rate (i)= 0.09/12= 0.0075

Number of periods (n)= 12*26= 312 months

<u>To calculate the future value, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

FV= {100*[(1.0075^312) - 1]} / 0.0075

FV= $123,879.85

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Does 5n = -20 have one solution,infinitley many,or no solutions?​
Maslowich
One solution.

-20 divided by 5 is equal to -4. Unless both sides have the same number or one side has -=0 then it’s one solution
8 0
3 years ago
Consider the graph and equation, y = 3x, that represent Alonso’s walking speed. What relationship is represented by this equatio
natita [175]

Answer:

The equation, y=3 x,

Step-by-step explanation:

y=Distance traveled

x =Total time

Also, in terms of straight line

Slope =3= uniform Velocity

Point (3,9) and (5,15) represents Distance traveled in 3 (unit of time) =9 unit, and 15 unit=Distance traveled in 5 (Unit of time).

→Alonso is moving with uniform speed=3 (unit of time), as velocity remains constant in the entire process.

6 0
4 years ago
A line passes through the point (-6,9) and has a slope of 3/2. Write an equation in slope-intercept form for this line.
BaLLatris [955]

Answer:

y=3/2x+18

Step-by-step explanation:

Hi there!

We are given a point (-6,9) and a slope of 3/2

We want to write the equation of this line in slope-intercept form

Slope-intercept form is written as y=mx+b, where m is the slope and b is the y intercept

Since we already know the slope of the line as 3/2, we can substitute it as m into the equation:

y=3/2x+b

Now let's find  b

Since the equation of the line passes through (-6,9), we can use it to help solve for b

Substitute -6 as x and 9 as y:

9=3/2(-6)+b

Multiply

9=-9+b

Add 9 to both sides

18=b

Substitute 18 as b into the equation.

y=3/2x+18

Hope this helps!

7 0
2 years ago
A jeweler orders necklaces from a website that offers $6 shipping for any-size order. Each necklace costs $7. The jeweler wants
Furkat [3]

Answer:

c = $7n + $6

Step-by-step explanation:

$6 shipping for any size

$7 per necklace

let n equal the quantity of necklaces and c equal the total cost.

you buy n amount of necklaces and add the shipping cost to find your cost.

7 0
3 years ago
Read 2 more answers
What type of probability uses a knowledge of sample spaces as opposed to observations to determine the numerical probability of
Aneli [31]

Answer:

Classical probability

Step-by-step explanation:

  • Classical property is that type of probability or statistical concept that deals with the  measurement of the odds or likelihood of some event.
  • It is that form of probability that is simplest in approach and includes the equal likelihood of happening or occurrence of an event.
  • In order to determine the numerical probability of an event, it makes use of the knowledge of sample spaces in contrast with the observations.
  • It takes a proper note of an event in order to calculate its probability and also it deals with the likelihood of a certain event rather than making observations.

5 0
3 years ago
Read 2 more answers
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