Answer:
Tell us the ?
Step-by-step explanation:
I'm not sure but I think it is the third option
Answer:
The amount needed such that when it comes time for retirement is $396721.78.
Step-by-step explanation:
Given : An individual can make monthly withdraws in the amount of $2,154 for 30 years from an account paying 5.1% compounded monthly.
To find : The amount needed such that when it comes time for retirement?
Solution :
Using the formula of monthly payment,
Monthly payment, ![M=\frac{\text{Amount}}{\text{Discount factor}}](https://tex.z-dn.net/?f=M%3D%5Cfrac%7B%5Ctext%7BAmount%7D%7D%7B%5Ctext%7BDiscount%20factor%7D%7D)
Discount factor D=\frac{1-(1+i)^{-n}}{i}
Where,
Amount = ?
Monthly payment M=$2154
Rate r= 5.1%=0.051
![i=\frac{0.05}{12}=0.00425](https://tex.z-dn.net/?f=i%3D%5Cfrac%7B0.05%7D%7B12%7D%3D0.00425)
Time = 30 years
![n=30\times12=360](https://tex.z-dn.net/?f=n%3D30%5Ctimes12%3D360)
Substitute all the values,
![D=\frac{1-(1+i)^{-n}}{i}](https://tex.z-dn.net/?f=D%3D%5Cfrac%7B1-%281%2Bi%29%5E%7B-n%7D%7D%7Bi%7D)
![D=\frac{1-(1+0.00425)^{-360}}{0.00425}](https://tex.z-dn.net/?f=D%3D%5Cfrac%7B1-%281%2B0.00425%29%5E%7B-360%7D%7D%7B0.00425%7D)
![D=\frac{1-(1.00425)^{-360}}{0.00425}](https://tex.z-dn.net/?f=D%3D%5Cfrac%7B1-%281.00425%29%5E%7B-360%7D%7D%7B0.00425%7D)
![D=\frac{0.78277}{0.00425}](https://tex.z-dn.net/?f=D%3D%5Cfrac%7B0.78277%7D%7B0.00425%7D)
Monthly payment, ![M=\frac{\text{Amount}}{\text{Discount factor}}](https://tex.z-dn.net/?f=M%3D%5Cfrac%7B%5Ctext%7BAmount%7D%7D%7B%5Ctext%7BDiscount%20factor%7D%7D)
![2154=\frac{A}{184.1811}](https://tex.z-dn.net/?f=2154%3D%5Cfrac%7BA%7D%7B184.1811%7D)
![A=\$396721.778](https://tex.z-dn.net/?f=A%3D%5C%24396721.778)
Nearest cent,
![A=\$396721.78](https://tex.z-dn.net/?f=A%3D%5C%24396721.78)
Therefore, the amount needed such that when it comes time for retirement is $396721.78.
Answer:
50
Step-by-step explanation:
5^3÷(13-8)×2
Using the BODMAS rule
Bracket first
13-8=5
5^3=125
Followed by division
125÷5=25
Then back to the multiplication
25×2=50
The expression for this question of 5x3+8x - 4 would be