suppose the income tax rate is 4% determine the amount of money remaining after paying income tax on an income of $20,000

You plan to accumulate 100,000 at the end of 42 years by making the follow-

Mariana [72]

Answer:

Y = 479.17

Step-by-step explanation:

At the end of year 14, the balance from the deposits of X can be found using the annuity due formula:

A = P(1+r/n)((1 +r/n)^(nt) -1)/(r/n)

where P is the periodic payment, n is the number of payments and compoundings per year, t is the number of years, and r is the annual interest rate.

A = X(1.07)(1.07^14 -1)/0.07 ≈ 24.129022X

This accumulated amount continues to earn interest for the next 28 years, so will further be multiplied by 1.07^28. Then the final balance due to deposits of X will be ...

Ax = (24.129022X)(1.07^28) = 160.429967X

__

The same annuity due formula can be used for the deposits of Y for the last 10 years of the interval:

Ay = Y(1.07)(1.07^10 -1)/.07 = 14.783599Y

__

Now we can write the two equations in the two unknowns:

Ax +Ay = 100,000

X - Y = 100

From the latter, we have ...

X = Y +100

So the first equation becomes ...

160.429967(Y +100) +14.783599Y = 100000

175.213566Y +16,043.00 = 100,000

Y = (100,000 -16,043)/175.213566 ≈ 479.17

Y is 479.17

7 0

3 years ago

Find any 3 (x,y) pairs that are solutions for the equation 2x-5y=10 . Show your work

Alla [95]

Answer:

(0,-2), (5,0) and (10,2).

Step-by-step explanation:

Given equation is $2x-5y=10$ .

Now we need to find 3 pairs of solutions in (x,y) form for the given equation.

As $2x-5y=10$ is a linear equation so we are free to pick any number for x like x=0, 5, 10

Plug x=0 into $2x-5y=10$ , we get:

$2(0)-5y=10$

$0-5y=10$

$-5y=10$

$y=\frac{10}{-5}$

$y=-2$

Hence first solution is (0,-2)

We can repeat same process with x=5 and 10 to get the other solutions.

Hence final answer is (0,-2), (5,0) and (10,2).

5 0

3 years ago

Read 2 more answers

Mr. phill stopped to fill his car with gas on the way to New York. It took 1 ¼ minutes to fill a 15 liters of gas in his tank. A

KatRina [158]

Answer:

4 1/6 min or 4 min 10 sec

Step-by-step explanation:

Filling rate is:

15 ÷ 1 1/4 = 15 ÷ 5/4 = 15 × 4/5 = 12 l/min

Total volume is 50 l, time required to fill is:

50/12 = 4 2/12 = 4 1/6 min or 4 min 10 sec

4 0

3 years ago

Martha estimated the quotient of -71.81 and -8.02 using

steposvetlana [31]

Option 2

Martha estimated the quotient. Martha error was she should have rounded -8.02 to -8.

SOLUTION:

Given that, Martha estimated the quotient of -71.81 and -8.02 using rounding to the nearest whole number.

And she committed an mistake. We have to find the error made by Martha while calculating quotient.

She treated -71.81 to be 72 and -8.02 to be 9. As both the number are negative there will be no problem when we get quotient.

When treated as above she got quotient as 8.

But in general, the quotient is not 8.

If we see options, we derive an conclusion.

Option (1)

she should have rounded 71.81 to 70, no this is not correct as 72 is nearest whole number.

Option (2)

she should have rounded 8.02 to 8, yes this is correct conclusion.

Option (3)

she should have divided 8 by 72, no this is not correct, we should divided 72 by 8.

Option (4)

she didn’t make an error, this is wrong as in 2nd option we caught an error.

Hence, second option is correct.

6 0

3 years ago

Read 2 more answers

Evaluate 2.625-(-6)

Lunna [17]

2,625 - (-6) =

= 2, 625 + 6

= 8, 625

8 0

3 years ago

suppose the income tax rate is 4% determine the amount of money remaining after paying income tax on an income of $20,000 ​

suppose the income tax rate is 4% determine the amount of money remaining after paying income tax on an income of $20,000