Answer:
The ira will contain $228,278.05 when he retires at age 65. This is 6.04 times the amount of money he deposited.
Step-by-step explanation:
In order to solve this problem, we can make use of the following formula:
![FV=PMT[\frac{(1+i)^{n}-1}{i}]](https://tex.z-dn.net/?f=FV%3DPMT%5B%5Cfrac%7B%281%2Bi%29%5E%7Bn%7D-1%7D%7Bi%7D%5D)
Where:
FV= Future value of the ira
PMT= the amount of money you deposit each month
i= is the interest rate per period
n=number of periods
in this case we will assume the interest will be compounded each month.
So:
FV this is what we need to know.
PMT= $75 the amount he will deposit each month
t = 42 years,
this is 65-23=42
n=42 years * 12 months/year = 504 months
i=0.07/12
So we can now use the given formula:
![FV=75[\frac{(1+\frac{0.07}{12})^{504}-1}{\frac{0.07}{12}}]](https://tex.z-dn.net/?f=FV%3D75%5B%5Cfrac%7B%281%2B%5Cfrac%7B0.07%7D%7B12%7D%29%5E%7B504%7D-1%7D%7B%5Cfrac%7B0.07%7D%7B12%7D%7D%5D)
So we get:
FV=$228,278.05
which is the amount of money he will have after 42 years.
In total, he deposited:
$75*504months = $37,800
so he will have:
times the amount of money he deposited throughout this time.
<em>The</em><em> </em><em>value</em><em> </em><em>of</em><em> </em><em>X </em><em>is</em><em> </em><em>1</em><em>.</em><em>6</em>
<em>Look</em><em> </em><em>at</em><em> </em><em>the</em><em> </em><em>attached</em><em> </em><em>picture</em>
<em>H</em><em>ope</em><em> </em><em>it</em><em> </em><em>will</em><em> </em><em>help</em><em> </em><em>you</em>
<em>Good</em><em> </em><em>luck</em><em> </em><em>on</em><em> </em><em>your</em><em> </em><em>assignment</em>
Answer:
n=6
Step-by-step explanation:
1/2 n + 3 = 6
Subtract 3 from each side
1/2 n +3-3=6-3
1/2n = 3
Multiply each side by 2
1/2 n * 2 = 3*2
n = 6
I'd say option D because you can just tell right off the bat that if x = 0, then f(x) = 43.75.
Answer:
x = 20
Step-by-step explanation:
angle m<3 + angle m<5 = 180° because these angles are supplementary
5x + 10 + 3x + 10 = 180° add like terms
8x + 20 = 180
8x = 160 divide both sides by 8
x = 20
