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kompoz [17]
3 years ago
11

Nicole is considering opening a Roth Individual Retirement Account. If she invests into the Roth IRA, determine the amount in th

e account if she makes annual payments of $4,291 into an account paying 2. 23% interest compounded annually for 30 years. A. $132,259. 66 b. $132,505. 45 c. $184,513. 76 d. $180,488. 86.
Business
1 answer:
Mamont248 [21]3 years ago
6 0

The future amount in the account (Roth IRA) is equal to: D. $180,488. 86.

<u>Given the following data:</u>

  • Principal = $4,291
  • Interest rate = 2.23%
  • Time = 30 years

To determine the future amount in the account:

Mathematically, the compound interest for this Roth IRA is given by the formula:

A = \frac{P(1\;+\;r)^t -1}{r}

<u>Where:</u>

  • P is the principal.
  • r is the interest rate.
  • t is the number of years.
  • A is the future amount.

Substituting the given parameters into the formula, we have;

A = \frac{4291(1\;+\;0.0223)^{30} -1}{0.0223}\\\\A = \frac{4291(1.0223)^{30} -1}{0.0223}\\\\A = \frac{4291(1.93798684094 -1}{0.0223}\\\\A = \frac{4291(0.93798684094)}{0.0223}\\\\A = \frac{4024.901534474}{0.0223}

A = $180,488.86

Read more on compound interest here: brainly.com/question/25263325

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Answer:

y=160.9

Explanation:

<u>Linear Modeling</u>

Models are an important part of the study of a variety of natural phenomena in a great number of fields like science, health, business, human behavior, economics, among many others.

Once a model is determined, it can be used to estimate future values of important variables which in turn can help people to make decisions.

It has been determined a model that relates the amount of term life insurance a family of four should have with the current age of the head of the household. That model is

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we are required to estimate the amount of term life insurance to recommend to a family of four when the head of the household is x=41 years old. Let's plug in the given value in the equation

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\boxed{y=160.9}

7 0
3 years ago
Fiber Cable Corp. negotiated a deal with Argentina under which Fiber Cable would build three cable manufacturing sites in the co
timofeeve [1]

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A buyback.

Explanation:

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7 0
3 years ago
Calculate the simple interest you would receive in one year on a savings account that earns 5% annual interest. your beginning b
cupoosta [38]
The simple interest formula:
I = P * r * t,
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I - interest,
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r - interest rate,
t - time ( in years )
P = $255.19,  r = 5% = 0.05,  t = 1
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A company's normal selling price for its product is $20 per unit. However, due to market competition, the selling price has fall
Scorpion4ik [409]

Answer:

$2,600

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Therefore,

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Bases on the information given in the question, replacement cost is lower or lesser than the purchase cost which is why the inventory units are been cost at the replacement value of $13 each.

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Which of the following is an example of groupthink? A. Everyone on the team agrees with whatever you have to say with very limit
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Groupthink is <u>a psychological phenomenon that occurs in groups, where people have a tendency to conform to whatever the group has to say, and thus lead to irrational behaviors and decisions. </u>

Thus, the best answer for the question would be (A) everyone on the team agrees with whatever you have to say with very limited discussion.

6 0
3 years ago
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