The amount needed such that when it comes time for retirement is $2,296,305. This problem solved using the future value of an annuity formula by calculating the sum of a series payment through a specific amount of time. The formula of the future value of an annuity is FV = C*(((1+i)^n - 1)/i), where FV is the future value, C is the payment for each period, n is the period of time, and i is the interest rate. The interest rate used in the calculation is 4.1%/12 and the period of time used in the calculation is 30*12 because the basis of the return is a monthly payment.
FV = $3,250*(((1+(4.1%/12)^(30*12)-1)/(4.1%/12))
35.001 is the closest of the 5 to 35.
$60.00 + 15%= 69.00. add the 15% to the orinigal Price.
X 0 y was 30
at x 12 y is about 55
12-0 = 12
55-30 = 25
25/12 = 2.08 inches per year average
so answer should be D
