1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
spin [16.1K]
3 years ago
10

If interest rates stay at 4% APR and I continue to make my monthly $25 deposits into my retirement plan, I should have at least

$20,000 saved when I retire in 20 years
Mathematics
1 answer:
hodyreva [135]3 years ago
6 0

Answer:   Rank me brainlist if this helps:)

False

$25,706.48

Step-by-step explanation:

The annual percentage rate (APR) is 4%, so the monthly rate is 4%/12 = ⅓%.

25 years = 300 months.

The monthly deposit (annuity) is $50.

The future value of the annuities is:

F = A [(1 + i)ⁿ − 1] / i

Given i = 1/300, A = 50, and n = 300:

F = 50 [(1 + 1/300)³⁰⁰ − 1] / (1/300)

F = 25,706.48

The statement is false.  The amount after 25 years is less than $30,000.

You might be interested in
find the volume of a right circular cone that has a height of 4.2 m and a base with a radius of 3.4 m. Round your answer to the
lianna [129]

Answer: 50.8

Step-by-step explanation:

8 0
3 years ago
Which of the following is not a real number?
Aleks [24]

Answer:

D:  √(-4)

Step-by-step explanation:

D:  √(-4) is not a real number; it's an imaginary one.

3 0
2 years ago
Assuming all other requirements are met, which of the following taxpayers do NOT qualify for the 2021 Earned Income Tax Credit?
Ilia_Sergeevich [38]

Based on the information given, the person who doesn't qualify for the income tax credit will be A. Ivy, age 22, is single with no dependents. She is not a dependent of another person. She has wages of $6,500 and an investment income of $11,150.

It should be noted that the earned income tax credit is important as it helps low-income workers get a tax break.

From the options given, Ivy is the taxpayer that does not qualify for the 2021 Earned Income Tax Credit. This is because she's not a dependent of another person.

Learn more about tax credit on:

brainly.com/question/25895721

8 0
2 years ago
THE amusement park won't allow kids to ride roller-coasters until they are a minimum of 48 inches tall. Michael is now 42 inches
saveliy_v [14]

Answer: It will one year (or 12 months) before Michael is able to ride the roller coaster.

Step-by-step explanation: Because he grows a half inch every month, this means that It takes him two months to grow one full inch. Because he has to grow six inches, you just multiply 2 by 6 to get 12 months or one year.

7 0
3 years ago
Read 2 more answers
Write an equation in slope-intercept form of the line.
alexira [117]

Answer:

y=x-3

Step-by-step explanation:

To find slope, use m=y2-y1/x2-x1, using values of x and y from two different points. Once you have found slope, take another point and use the point-slope equation y-y1=m(x-x1) and substitute in slope for m and the point for x1 and y1. Isolate y by subtracting y1 from both sides.

3 0
3 years ago
Other questions:
  • Consider the rational numbers 4/13 and 3/10.
    5·1 answer
  • A store owner claims that the proportion of shoppers who use coupons is less than 25%. To test this claim, a random sample of sh
    14·1 answer
  • Help me find the slope
    12·2 answers
  • Which of the following equations represents the statement: "The product of a number y and 3, less 8, is equal to 22"?
    10·1 answer
  • A netball court is 30m by 15m.What is the distance from one corner of the court to the other​
    5·2 answers
  • Help please <br><br> something+(-4)=-1
    7·1 answer
  • After establishing x how would I find DKH
    5·1 answer
  • HOW TO WRITE IN DIVISION EXXPRESION I GIVE BRAINLEST
    6·1 answer
  • Would you rather
    14·1 answer
  • DETAILS
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!