(b-7)m=r
Use the distributive property to multiply b-7 by m.
bm-7m=r
Add 7m to both sides.
bm=r+7m
The equation is in standard form.
mb=7m+r
Divide both sides by m.
mb/m = 7m+r/m
Dividing by m undoes the multiplication by m.
b= 7m+r/m
Divide r+7m by m.
b= r/m+7
First find the future value of an annuity ordinary using the formula of
Fv=pmt [(1+r)^(n)-1)÷(r)]
Fv future value?
PMT 4000
R 0.05
N 15 years
Fv=4,000×(((1+0.05)^(15)−1)÷(0.05))
Fv=86,314.25
Then deducte the 15% tax bracket from the amount we found to get the effective value of Yon's traditional IRA at retirement
86,314.25−86,314.25×0.15
=73,367.11
Answer:
m<32
Step-by-step explanation:
