Answer:
Your answer is 14
Hope that this is helpful. Tap the crown button, Mark my answer as............. BRAINLIST......... Like & Follow me to get more answer.
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,
Discount factor D=\frac{1-(1+i)^{-n}}{i}
Where,
Amount = ?
Monthly payment M=$2154
Rate r= 5.1%=0.051
Time = 30 years
Substitute all the values,
Monthly payment,
Nearest cent,
Therefore, the amount needed such that when it comes time for retirement is $396721.78.
6.2/100 × 107.69 = 6.68
6.68 + 107.69 = 114.37
Retail Price =$114.37
The answer is -16 I believe (;
The answer to this question will be a