The following formula is applicable;
A=P(1+r)^n
Where,
A = Total amount accrued after 10 years (this is the amount from which the yearly withdrawals will be made from for the 30 years after retirement)
P=Amount invested today
r= Annual compound interest for the 10 years before retirement
n= Number of years the investments will be made.
Therefore,
A= Yearly withdrawals*30 years = $25,000*30 = $750,000
r= 9% = 0.09
n= 10 years
P= A/{(1+r)^n} = 750,000/{(1+0.09)^10} = $316,808.11
Therefore, he should invest $316,808.11 today.
Answer:
Step-by-step explanation:
This is in the form of a slope formula where y=mx+b. B pretty much gives you the vertical shift. Meaning that y=2/x-3 would be correct.
yes the following is a fuction
The Greek mathematician who wrote the most definitive text on geometry, one that is still referred to today is Euclid. Euclid of Alexandria is also called "Father of Geometry". He was a great Greek mathematician. Euclidean geometry is still widely taught in schools and colleges. I hope the answer comes to your help.
