$662.18 needs to be saved per month.
$90,000 now at 3% inflation will become 90000*1.03^30 after 30 years.
i.e. $218,454 is required in retirement years (for 20 years)
Calculating the PV of these payments at 7% is calculated as below.
FV = 0
1/y = 7%
n=20; PMT = 218454; calculate PV = $2,314,305
Now we want to get $2,314,305 at the start of retirement by saving per year. Enter the following in the financial calculator to get the per month amount.
FV = 2314305; PV = 0; n= 12*30; 1/y = 12%/12; calculate PMT = $662.18
So $662.18 needs to be saved per month.
Learn more about inflation here: brainly.com/question/8149429
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Answer: I believe it is 108 good luck girl
question 6,
Answer : 35.7 degree from north
Step-by-step explanation:
Bearing is angle w.r.t the north.
To calculate this angle we need the angle of the triangle in the diagram.
We know two sides of the triangle the base (18) and Perpendicular(25).
Tan(x) = 25/18
arctan(25/18) = 54.24 deg
Subtracting from 90 to get angle w.r.t north 90-54.24 = 35.7
Question 7,
Solution: 33.12
Explaination
calculate the length of the straw within the glass.
It makes a right angle triangle with the glass, where the length is the hypotenuse.
the base is 9 (radius *2 = 4.5*2)
using Cos(x) = base / hypotenuse
cos(72) = 9 /Hypotenuse
Hypotenuse = 9/cos(72)
Hypotenuse = 29.12
total length is hypotenuse + the length protruding out(4)
29.12 + 4 = 33.12
Answer:
2.5 %
Step-by-step explanation:
The simple interest formula is
I = Prt
Data:
I = $75
P = $600
t = 5 yr
Calculation:
75 = 600 × r × 5
75 = 3000 r
Divide each side by 3000
r = 75/3000 = 0.025 = 2.5 % APR
The annual percentage rate is 2.5 %.