The answer is a equals 6.
The amount of money that John would have in his account when he is ready to retire is $6,351,400.21.
<h3>How much would be in the retirement account?</h3>
The formula that can be used to determine the future value of the annuity is
Future value = Daily deposit x annuity factor
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- r = 3.5 / 365 = 0.0096%
- n = (65 - 48) x 365 = 6205
Annuity factor = [(1.000096^6205) - 1] / 0.000096 = $8468.53
Future value = 750 x $8468.53 = $6,351,400.21
To learn more about annuities, please check: brainly.com/question/24108530
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Answer:
Step-by-step explanation:
y=x+4
