Answer:
Amount he must have in his account today is $5,617.92
Step-by-step explanation:
Data provided in the question:
Regular withdraw amount = $900
Average annual interest rate, i = 4% = 0.04
Time, n = 7 years
Now,
Present Value = ![C \times\left[ \frac{1-(1+i)^{-n}}{i} \right] \times(1 + i)](https://tex.z-dn.net/?f=C%20%5Ctimes%5Cleft%5B%20%5Cfrac%7B1-%281%2Bi%29%5E%7B-n%7D%7D%7Bi%7D%20%5Cright%5D%20%5Ctimes%281%20%2B%20i%29)
here,
C = Regular withdraw amount
Thus,
Present Value =
Present Value = ![900 \times\left[ \frac{1-(1+0.04)^{-7}}{ 0.04 } \right] \times(1 + 0.04)](https://tex.z-dn.net/?f=900%20%5Ctimes%5Cleft%5B%20%5Cfrac%7B1-%281%2B0.04%29%5E%7B-7%7D%7D%7B%200.04%20%7D%20%5Cright%5D%20%5Ctimes%281%20%2B%200.04%29)
Present Value = ![936 \times\left[ \frac{1 - 1.04^{-7}}{ 0.04} \right]](https://tex.z-dn.net/?f=936%20%5Ctimes%5Cleft%5B%20%5Cfrac%7B1%20-%201.04%5E%7B-7%7D%7D%7B%200.04%7D%20%5Cright%5D)
Present Value = ![936 \times\left[ \frac{1 - 0.759918}{ 0.04} \right]](https://tex.z-dn.net/?f=936%20%5Ctimes%5Cleft%5B%20%5Cfrac%7B1%20-%200.759918%7D%7B%200.04%7D%20%5Cright%5D)
Present Value = 936 × 6.00205
or
Present Value = $5,617.92
Hence,
Amount he must have in his account today is $5,617.92
Answer:
x=anything
Step-by-step explanation:
Answer:
slope=3
y-intercept=-1
Step-by-step explanation:
Answer: The mode is: 3 . The range is: 6 .
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Explanation:
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It would be best to list this values in the data set given, from least to greatest:
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{ 3, 3, 3, 3, 4, 5, 5, 6, 9 } .
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The mode is the number that occurs most frequently in the data set, which is: "3".
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{The number, "3", occurs FOUR (4) times. The number, "4", occurs ONE (1) time. The number, "5", occurs TWO (2) times. The number, "6", occurs ONE (1) time. The number, "9", occurs ONE (1) time.}.
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The range is calculated from subtracting the LOWEST value in the data set FROM the HIGHEST value in the data set.
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The lowest values in the data set is: "3" .
The highest value in the data set is: "9" .
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To calculate the range: 9 <span>− 3 = 6 . The range is: "6".
</span>________________________________________________
Answer: The mode is: 3 . The range is: 6 .
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You would find the answer by dividing 3 1/3 from 18 1/3.
55/3 / 10/3
(55/3)(3/10)=55/10=5 1/2
Answer: 5 1/2
