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Answer: Out of 7 bottles, 2 bottles contain soda. This means that 2 bottles= 29% out of 100%. 7/2 (7 divided by 2) = 0.285. 0.285 can be rounded up to 0.29, meaning that the approximate percentage of the bottles that contain soda is 29%.
The formula of the future value of an annuity ordinary is
Fv=pmt [(1+r)^(n)-1)÷r]
Fv future value?
PMT 2400
R 0.08
T 32 years
Fv=2,400×((1+0.08)^(32)−1)÷(0.08)
Fv=322,112.49
Now deducte 28% the tax bracket from the amount we found
annual tax 2,400×0.28
=672 and tax over 32 years is 672×32
=21,504. So the effective value of Ashton's Roth IRA at retirement is 322,112.49−21,504=300,608.49
