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Lelechka [254]
3 years ago
6

You want to be able to withdraw the specified amount periodically from a payout annuity with the given terms. Find how much the

account needs to hold to make this possible. Round your answer to the nearest dollar. Regular withdrawal: $1200 Interest rate: 2.5% Frequency monthly Time: 26 years
what is the account balance?​
Mathematics
2 answers:
fgiga [73]3 years ago
7 0

9514 1404 393

Answer:

  $275,098.25

Step-by-step explanation:

The principal amount can be found using the annuity formula.

 A = P(r/12)/(1 - (1 +r/12)^(-12t))

where A is the monthly payment, P is the principal amount, r is the annual interest rate, and t is the number of years.

Solving for P, we have ...

  P = A(12/r)(1 -(1 +r/12)^(-12t)) = 1200(12/0.025)(1 -(1 +.025/12)^(-12·26))

  = $275,098.25

The account balance needs to be $275,098.25.

jekas [21]3 years ago
4 0

Step-by-step explanation:

principal=?. interest=$1200. rate =2. 5%. time=26 NOW, principal=I×100/T×R= $1200×100/26×2. 5=1846. 15

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9966 [12]

Answer:

y = 0x - 2/3

Step-by-step explanation:

We are asked to find the equation of the line

Step1: find the slope

( 0 , -2/3) ( 3 , -2/3)

m = (y_2 - y_1 )/ (x_2 - x_1)

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8 0
3 years ago
What is A number divided by 82
lara [203]

Answer:

Hey there, Lets solve this step by step.  

A number t divided by 82  

Let the number be represented by y.  

t divided by 82 = t / 8  

Therefore-  

 

In algebraic expressions, "y" is normally used as the dependent variable and "x" is normally used as the independent variable, instead of other variables. So that is why i used the variable y in the equation.

Step-by-step explanation:

6 0
3 years ago
Read 2 more answers
If the domain of the function f(x)=2x2- 8is {-2, 3, 5}, then the range is
Simora [160]

Answer:

{0, 10, 42}

Step-by-step explanation:

<em>Domain is set of input values and range is set output values.</em>

For the function f(x) = 2x² - 8 and domain set of {-2, 3, 5}

<u>Range is:</u>

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<u>Range:</u> {0, 10, 42}

6 0
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