1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vika [28.1K]
3 years ago
8

At 50, Brian sets up an IRA, where he plans to deposit $12,000 at the end of each year until age 75. Find the amount of the annu

ity if he invests in a stock fund that yields 4% compounded annually.
Mathematics
1 answer:
kozerog [31]3 years ago
3 0

Answer: the amount of the annuity is $501000

Step-by-step explanation:

We would apply the future value which is expressed as

FV = C × [{(1 + r)^n - 1}/r]

Where

C represents the yearly payments.

FV represents the amount of money

in your account at the end of 25 years.

r represents the annual rate.

n represents number of years or period.

From the information given,

r = 4% = 4/100 = 0.04

C = $12000

n = 75 - 50 = 25

Therefore,

FV = 12000 × [{(1 + 0.04)^25 - 1}/0.04]

FV = 12000 × [{2.67 - 1}/0.04]

FV = 12000 × 41.75

FV = $501000

You might be interested in
Determine the indicated angle in the triangle to the nearest degree
Dmitry [639]
No image? cvccfgfyfyfcy
8 0
3 years ago
If the perimeter of the following triangle is 7x-2, what is the length of the unknown side?
Alinara [238K]

7x-2-(3x-9)-(x+7)

=7x-2-3x+9-x-7

=7x-3x-x-2+9-7

=3x

4 0
3 years ago
I have 7 hundreds blocks, 5 tens blocks, and 8 ones blocks. I use my blocks to model two 3-digit numbers. What could my two numb
lawyer [7]
There 7 blocks of hundreds which means each such block is equivalent to 100.
There are 5 blocks of tens, which means each such block is equivalent to 10.
There are 8 blocks of ones, which means each such block is equivalent to 1.

The total of these blocks will be = 7(100) + 5(10) + 8(10) = 758

We can make several two 3-digit numbers from these blocks. An example is listed below:

Example:
Using 3 hundred block, 2 tens blocks and 4 ones block to make one number and remaining blocks to make the other number. The remaining blocks will be 4 hundred blocks, 3 tens blocks and 4 ones blocks
The two numbers we will make in this case are:

1st number = 3(100) + 2(10) + 4(1) = 324
2nd number = 4(100) + 3(10) + 4(1) = 434

The sum of these two numbers is  = 324 + 434 = 758
i.e. equal to the original sum of all blocks.

This way changing the number of blocks in each place value, different 3 digit numbers can be generated. 
5 0
3 years ago
What is 1/9 written as a decimal AND a percentage?
julia-pushkina [17]
.1 repeating - decimal
11% - percentage
6 0
3 years ago
What is the solution to the equation?c/35=3/7
MaRussiya [10]

Answer:C=15

Step-by-step explanation:

Just do math

7 0
3 years ago
Read 2 more answers
Other questions:
  • Sara has 24 sweets
    11·1 answer
  • PLEASE ANSWER! ☹️ and round the answer to nearest whole number
    13·1 answer
  • Please unswer this!!
    6·1 answer
  • X/7 ≥ -6 your answer must be simplified
    10·1 answer
  • Help.....I need to ace this.
    9·1 answer
  • Melanie buys 2 shells for $0.80. Rosi buys 3 shells for $1.20. Carlos buys 4 shells for $1.60. Use the graph to determine whethe
    5·1 answer
  • Please help guys I need to pass my semester final exam!
    8·2 answers
  • Find the slope,y-intercept,equation 
    12·2 answers
  • What did the Aztecs achieve in science and technology?<br><br><br> BRAINLIST if correct
    5·1 answer
  • X – 1= 4x + x - 8+ 3x
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!