Answer:
180
Step-by-step explanation:
15% of 300 is 45.
25% of 300 is 75.
45+75 is 120.
300-120 is 180
The following formula is applicable;
A=P(1+r)^n
Where,
A = Total amount accrued after 10 years (this is the amount from which the yearly withdrawals will be made from for the 30 years after retirement)
P=Amount invested today
r= Annual compound interest for the 10 years before retirement
n= Number of years the investments will be made.
Therefore,
A= Yearly withdrawals*30 years = $25,000*30 = $750,000
r= 9% = 0.09
n= 10 years
P= A/{(1+r)^n} = 750,000/{(1+0.09)^10} = $316,808.11
Therefore, he should invest $316,808.11 today.
Answer:
y = 1/6x -4
Step-by-step explanation:
First find the slope
m= ( y2-y1)/(x2-x1)
m=(-5 - -3)/( -6 -6)
= (-5+3)/ (-6-6)
= -2/-12
= 1/6
The slope intercept form is
y= mx+b where m is the slope and b is the y intercept
y = 1/6 x +b
Substitute a point into the equation
-5 = 1/6(-6) +b
-5 = -1+b
Add 1 to each side
-4 = b
y = 1/6x -4
True. Anything divides by zero is zero
