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Dahasolnce [82]
3 years ago
14

$3,250 is withdrawn at the end of every month from an account paying 4.1% compounded monthly. Determine the previous value of th

e account, given that withdrawals are made from the account for 30 years. Round to the nearest cent.
Mathematics
1 answer:
kirill [66]3 years ago
4 0
The amount needed such that when it comes time for retirement is $2,296,305. This problem solved using the future value of an annuity formula by calculating the sum of a series payment through a specific amount of time. The formula of the future value of an annuity is FV = C*(((1+i)^n - 1)/i), where FV is the future value, C is the payment for each period, n is the period of time, and i is the interest rate. The interest rate used in the calculation is 4.1%/12 and the period of time used in the calculation is 30*12 because the basis of the return is a monthly payment.

FV = $3,250*(((1+(4.1%/12)^(30*12)-1)/(4.1%/12))
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There are 24 students in Ms. Messing's class 6 more students walk to school then ride their bikes thus number of students who ri
Juli2301 [7.4K]
Walk = x + 6
Bike = x
Driven = x

x + x + x + 6 = 24
combine like terms

3x + 6 = 24
subtract 6 from both sides 

3x = 18
divide both sides by 3 to isolate x

x = 6

Walk = x + 6 = 6 + 6 = 12

12 students walk to school.
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3 years ago
One pound of specialty coffee costs $9.47. How much will $3.8 pounds of this coffee cost
OverLord2011 [107]
It would cost $35.98


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natima [27]

Answer:

105.12

Step-by-step explanation:

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Cereal. A dietician obtains the amounts of sugar (incentigrams) from 100 centigrams (or 1 gram) in each of 10 differentcereals,
nadezda [96]

Answer:

Range is 44

mean is 29.7

variance is 289.56

standard deviation is 17.016

Step-by-step explanation:

The data given as follows

3, 24, 30, 47, 43, 7, 47,13, 44, 39

Range = maximum - minimum

             = 47 -3 = 44

mean = \frac{3+24+30+47+43+7+47+13+44+39}{10} = 297/10 = 29.7

variance = \frac{sum xi^2 }{N} - mean^2 }

              = 289.56

SD = \sqrt{variance}  = 17.016

The standard deviation of the given data is not a good measure as the range and standard deviation are far apart. The standard deviation gives how the given data is dispersed from the mean or expected value, while the range gives a rough idea of variability of the data.

3 0
3 years ago
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