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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
A pair of dice are rolled. What is the probability of rolling 4 or greater?
skelet666 [1.2K]
Answer: option D: 11/12

Explanation:

1) The sample space is formed by 36 pairs: 6×6 = 36.

2) Roolling 4 or more is the same that not rolling 3 or less

3) Rolling 3 or less are (1,1), (1,2), and (2,1). Those are 3 outcomes out of 36.

4) Therefore, not rolling 3 or less (the same that rolling 4 or more) has 36 - 3 = 33 outcomes out of 36.

5) The probability of 33 out of 36 is 33/36

6) Simplify the fraction 33/36 = 11/12

And that is the answer.


6 0
3 years ago
The base is a square 16m 6m
Ostrovityanka [42]

base is a square 16m 6m

Step-by-step explanation:

A square is a regular quadrilateral and it has four equal sides and four equal angles (90 degree angle or right angles).

A square quadrilateral with vertices ABCD would be denoted by ABCD. The perimeter of a square (quadrilateral) is given by:

P = 4a

Where a is the length of each side.

Perimeter of the square:

P = 4a

P = 4 × 16 cm

P = 64 cm

Hence, the perimeter of square is 64 cm.

7 0
3 years ago
A textbook search committee is considering
lora16 [44]

Number of ways to select 3 books from 13 books for adoption is 286 .

<u>Step-by-step explanation:</u>

A Permutation is an ordered Combination. When the order does matter it is a Permutation. There are basically two types of permutation:

  • Repetition is Allowed: such as the lock above. It could be "333".
  • No Repetition: for example the first three people in a running race. You can't be first and second.

Formula is given by:

nC_r= \frac{n!}{r! (n-r)!} , where n is the number of things to choose from,  and we choose r of them,  no repetitions,  order matters. Here , n=13 , r=3.

⇒ 13C_3 = \frac{13!}{3!(13-3)!}

⇒ 13C_3 = \frac{13!}{3!(10)!}

⇒ 13C_3 = \frac{13(12)(11)10!}{3(2)(1)(10)!}

⇒ 13C_3 = 13(2)(11)

⇒ 13 C_3 = 286

∴ Number of ways to select 3 books from 13 books for adoption is 286 .

3 0
3 years ago
Find the average rate of change of the function defined by the following table. x y -2 -5 2 35 6 75 10 115
Pani-rosa [81]

By definition we have that the average rate of change of the function is:

 AVR =  \frac{f(x2) - f(x1)}{x2 - x1}

 Evaluating the function for the complete interval we have that the AVR is given by:

 AVR = \frac{115 - (-5)}{10 - (-2)}

 Rewriting we have:

 AVR = \frac{115+5}{10+2}

 Simplifying the expression we have:

 AVR = \frac{120}{12}

 AVR = 10

 Answer:

 the average rate of change of the function defined by the table is:

 AVR = 10

6 0
3 years ago
Need help with math probelm if do 5 stars
slamgirl [31]

Answer:

b) -9.25

Step-by-step explanation:

-1/4 = -0.25

-9 + -0.25 = -9.25

-10, -9.75, -9.5, -9.25, -9, -8.75, -8.5, -8.25, -8, -7.75, -7.5, -7.25, -7

Hope this helps!

4 0
2 years ago
Read 2 more answers
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