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Lerok [7]
2 years ago
9

At 22 years of age, Nicolas and Troy have started their first full-time jobs, and Troy decides to place $10,000 in a savings pla

n for retirement, which pays 9% compounded every 3 months.
As usual, Nicolas thinks Troy is crazy because he wants to enjoy his money now, and then start saving when he turns 45 years of age.

Assume that both Troy and Nicolas plan to retire at age 60. If Nicolas wants to retire with the same amount of savings as Troy, how much will Nicolas need to contribute monthly to his savings account, which earns him 10% compounded monthly?
Mathematics
1 answer:
grigory [225]2 years ago
4 0

Answer:

The correct answer 8486.

Step-by-step explanation:

Given:

Troy - P pr principle amount = 10000

rate = 9%

time = 60-22 = 38

intrest at every three months so time = t = 38*4 = 132

Nicohlas

P = x

rate = 10%

time = 60 -45 = 15

every month compounded = 15*12=180

solution:

the formula of compound intrest = P (1 + r/n)^(nt)

where n = number of counded intrests per year

puting formula for troy=

10000 (1+9/4)^132

= 294,322.96 .....1

now for nicolas

I = x(1+10/12)^180

x = 294,322.96/(1+10/12)^180

= 8486.

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6
Drupady [299]

Answer:

  • (a) 1/2
  • (b) 1/3

Step-by-step explanation:

(a) 3 of the 6 numbers on the die are even, so the probability that one of them will show is 3/6 = 1/2.

__

(b) 2 of the 6 numbers on the die are less than 3, so the probability that one of them will show is 2/6 = 1/3.

5 0
3 years ago
Solve |12x + 1| = 10<br> (9/2, 11/2)<br> (-9/2, 9/2)<br> (-112.9/2)
Reil [10]

|12x + 1| = 10

Remove the absolute value term and make two equations:

12x +1 = 10

12x +1 = -10

Now solve for both x values:

12x +1 = 10

Subtract 1 from both sides:

12x = 9

Divide both sides by 12:

x = 9/12

12x +1 = -10

Subtract 1 from both sides:

12x = -11

Divide both sides by 12:

x = -11/12

The answer would be (-11/12, 912)

8 0
3 years ago
The ratio of clown fish to angel fish at a pet store is 5:4 . The ratio of angel fish to gold fish is 4:3. There are 60 clown fi
SVEN [57.7K]
A)     60 Clown fish / 5 = 12
        12 x 4 = 28 Angel fish
B)     28 Angel fish / 4 = 12
        12 x 3  = 36 Gold fish
C) Add all fish   28 Angel fish + 36 Gold fish + 60 Clown fish = 124 Fish in total
4 0
2 years ago
Help plz this is multiple choice so just choose the answer u think is correct.
babymother [125]

the answer is 34.83 I believe

5 0
2 years ago
Can someone answer this question please answer it correctly if it’s corect I will mark you brainliest
weqwewe [10]

Answer:

19 people

Step-by-step explanation:

To find how many people went to the mall, count each x

At 0 trips, there are 2 xs, so<u> 2</u> people had 0 trips to the mall

At 1 trip, there are 0 xs, so <u>0</u> people had 1 trip to the mall

At 2 trips, there are 10 xs, so <u>10 </u>people had 2 trips to the mall

At 3 trips, there are 7 xs, so <u>7</u> people had 3 trips to the mall

Add up all the xs

2+0+10+7=19

19 people in all

8 0
3 years ago
Read 2 more answers
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