Answer:
$2,988,908.60
Step-by-step explanation:
Since the payments are made at the end of the year, it is an Ordinary Annuity.
The future value of an ordinary annuity with deposits P made regularly k times each year for n years, with interest compounded k times per year at an annual rate r, is given as:
In the given case,
- The Yearly Investment, P =$8,750
The stock market's average return is 11% per year. Period, k=1, r=11%, Therefore:
- i=11%=0.11
- n=60-25=35 years
Therefore, the Future Value at 60 years of age
![F.V.=\dfrac{8750[(1+0.11)^{35}-1]}{0.11}\\=\dfrac{8750[(1.11)^{35}-1]}{0.11}\\=\$2,988,908.60](https://tex.z-dn.net/?f=F.V.%3D%5Cdfrac%7B8750%5B%281%2B0.11%29%5E%7B35%7D-1%5D%7D%7B0.11%7D%5C%5C%3D%5Cdfrac%7B8750%5B%281.11%29%5E%7B35%7D-1%5D%7D%7B0.11%7D%5C%5C%3D%5C%242%2C988%2C908.60)
At retirement, I would have $2,988,908.60
<em>75 = 3 x 5 x 5 or it can be written like this: 75 = 3 x 5 squared</em>
Answer: 3/4
Step-by-step explanation:
Answer: your answers would be:
a) 32.370
b) 99.000
~i hope this answered your question correctly, have a gr8 day/night my friend!~
Step-by-step explanation:
Answer:
Step-by-step explanation:
2(x-3) = 5
Distribute.
2x - 6 = 5
Eliminate the 6.
2x = 11
Divide by 2.
x = 11/2