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nikdorinn [45]
2 years ago
7

Your goal is to have $200,000 in a 401K that is compounded continuously in order to retire. If you invest $9,500 for fifty years

at a rate of 7%, will you reach your goal?
Mathematics
1 answer:
ExtremeBDS [4]2 years ago
5 0

Answer:

Yes

Step-by-step explanation:

You will get $279,841.74 in that 50 years.

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You have already saved $55. You earn $9 per hour at your job. You are
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Answer:

$55+$9x≥$199

You must work for at least 16 hours to be able to buy the bicycle.

Step-by-step explanation:

Let x represent the number of hours you need to work to buy the bicycle.

You already have $55.

⇒$55+ −−−−−≥ −−−−−

You also earn $9 per hour.

Algebraically, this can be written as 9x.

⇒$55+$9x≥ −−−−−

You need to earn at least $199 to buy the bicycle.

⇒$55+$9x≥$199

The ≥ sign is used because the left-hand side of the inequality must be "greater than or equal to" $199.

Let's find out how many hours you need to work to buy the bicycle.

Subtracting $55 from both sides of the inequality:

⇒$55−$55+9x≥$199−$55

⇒$9x≥$144

Dividing both sides by $9:

⇒$9x$9$=$144$9

∴x≥16

Therefore, you need to work at least 16 hours to afford the bicycle.

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