Let the total amount that Sarah deposited be $x
using the annuity formula:
A=P[((1+r)^n-1)/r]
A=future value
r=rate
n=number of years
from the information given:
A=$500000
r=2.75%
n=65-42=23 years
p=$x
thus plugging our values in the formula we get:
500000=x[((1+0.0275)^(23)-1)/(0.0275)]
500000=31.50x
x=15,872.04883
She deposited 15,873.04883 per year
The monthly deposit will therefore be:
15873.04883/12=$1322.67
17/50 = 34% Hope this helped
Step-by-step explanation:
so, he will not wear any pants ? socks ? not to mention underwear ?
anyway, we have to deduct the $35 for the shoes, as he is seemingly buying them in any case.
so, we are left with 100 - 35 = $65 for shirts.
as one shirt costs $15, we need to see how often 15 fits into 65, as that is the answer how many shirts he can buy for this money.
65 / 15 = 4.333333333...
since he cannot buy a part shirt, we can only rely on the integer part of the calculation.
so, he can buy 4 shirts and will have $5 left.
