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Dafna11 [192]
2 years ago
10

Maria has decided to invest to help with her retirement savings. How much would she have to invest to have $113,400 after 20 yea

rs, assuming an interest rate of 3.57% compounded annually?
Do not round any intermediate computations, and round your final answer to the nearest dollar.

Mathematics
1 answer:
Ipatiy [6.2K]2 years ago
5 0

Answer:

$56,226

Step-by-step explanation:

x = investment

Earning interest of 3.57% is the equivalent of multiplying the initial balance (investment) by 1.0357;

Over 20 years, the new balance can be found by multiplying the initial balance by (1.0357)²⁰;

We can formulate an equation to solve to get the initial investment:

x(1.0357)²⁰ = 113400

(2.01687752)x = 113400

x = ¹¹³⁴⁰⁰/₍₂.₀₁₆...₎

x = 56225.5263 → 56226

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givi [52]

Answer:

Part a) 119 cups

Part b) 30 cups

Step-by-step explanation:

Part a)

step 1

Find the volume of the conical cup with a diameter of 4 in. and a height of 8 in

The volume of the cone (cup) is equal to

V=\frac{1}{3}\pi r^{2}h

we have

r=4/2=2\ in ----> the radius is half the diameter

h=8\ in

assume

\pi =3.14

substitute

V=\frac{1}{3}(3.14)(2^{2})8=33.49\ in^3

step 2

Find out how many cups of water must Carissa scoop out of the sink

Divide the volume of the sink by the volume of the cup

so

\frac{4,000}{33.49}= 119\ cups

Part b)

step 1

Find the volume of the conical cup with a diameter of 8 in. and a height of 8 in

The volume of the cone (cup) is equal to

V=\frac{1}{3}\pi r^{2}h

we have

r=8/2=4\ in ----> the radius is half the diameter

h=8\ in

assume

\pi =3.14

substitute

V=\frac{1}{3}(3.14)(4^{2})8=133.97\ in^3

step 2

Find out how many cups of water must Carissa scoop out of the sink

Divide the volume of the sink by the volume of the cup

so

\frac{4,000}{133.97}= 30\ cups

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