max is a 22 year old planning to retire at age 67 he is i vesting in a mutual fund and hopes to earn the average inflation adjusted stock market return of 7% anually. If max deposits $200 per month into this fund, how much can he expect to have when he retires? Show work

Answers

Answer 1

Based on the calculation below, the amount Max can be expected to have when he retires is $758,518.94.

How to calculate the future value (FV)?

The amount he will be expected to have when he retires can be calculated using the formula for calculating the future value of an ordinary annuity as follows:

FV = D * (((1 + r)^n – 1) / r) ……………………………….. (1)

Where;

FV = Future value or the expected amount when he retires = ?

D = Monthly deposit = $200

r = monthly average inflation adjusted stock market return = 7% / 12 = 0.07 / 12 = 0.00583333333333333

n = number of months = (67 -  22) * 12 = 540

Substituting the values into equation (1), we have:

FV = $200 * (((1 + 0.00583333333333333)^540 – 1) / 0.00583333333333333)

FV = $758,518.94

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Related Questions

I really need help!!!

If the lengths of two sides of a triangle are 3 and 4, which could be the length of the third side?​

Answers

Answer: It’s 5 if it’s the two legs

Step-by-step explanation:

Use the Pythagorean Theorem

You will use a2+b2=c2 plug in 3 and 4 for a and b no it does not matter what order and you
Answer: 5

PLEASE HELP!!!!!!!! GIVING BRAINLIEST, FIVE STAR RATING, AND A SHOUTOUT FOR MY NEXT QUESTION.

errrr.... the shoutout for this one is for purpl!

Answers

Answer:

the answer is 12 inches long

The scale used on a map is 1 inch = 44 miles. How many miles does 9 inches on the map represent​

Answers

Answer:

9 inches on the map represents 396 miles.

Step-by-step explanation:

Here let's convert 44 miles to inches.

44 miles is 2787840 inches.

So according to the map, 1 inch = 2787840 inches.

We need to multiply both of these values by 9 to find out how many miles 9 inches represents.

1 inch = 2787840 inches

1 * 9 inches = 2787840 * 9 inches

9 inches = 25090560 inches.

Then convert back to miles.

25090560 inches = 396 miles.

That means, 9 inches on the map represents 396 miles.

Find the difference. Write your answer in the simplest form. 7/10 -1/4

Answers

Answer:

[tex]\frac{9}{20}[/tex]

Step-by-step explanation:

Answer:

7/40 So sorry if I'm wrong!

Step-by-step explanation:

Which expression is equivalent to this: "3 multiplied by z"?

Answers

Answer:

3z

Step-by-step explanation:

When you write a number followed by a variable with no operation in between them, it means multiplication.

3 multiplied by z is 3 * z, but you can write it without the multiplication sign simply as 3z.

What is the radius of a sphere with a volume of 4186 in3 to the nearest tenth of an inch?

Answers

Answer:

10 inches

Step-by-step explanation:

r=(3V

4π)⅓=(3·4186

4·π)⅓≈9.99778in

There are six professors teaching the introductory discrete mathematics class at a university. The same final exam is given by all six professors. If the lowest possible score on the final is 0 and the highest possible score is 100, how many students must there be to guarantee that there are two students with the same professor who earned the same final examination score

Answers

Answer:

607 students

Step-by-step explanation:

To solve this question means we have to use Pigenhole principle which states that if y number of items are put into z number of containers, with y > z, then it means that that at least one container must definitely contain more than one item.

Now, let's find the number of boxes and objects:

If possible scores are from 0 to 100 with both inclusive it means number of possible scores = 101.

Now, If there was only one professor grading the students, in order to ensure that that there are two students with the same professor who earned the same final examination score,

The number of students would have to be = 101 + 1 = 102 students

Meanwhile, for each student, since there are 6 professors, the possible combination for a score will be = 6 possible combinations.

Therefore, number of students that will guarantee that there are two students with the same professor who earned the same final examination score must be a minimum of: (6 × 101) + 1 = 607

Which ordered pair represents the y-intercept of the graph of the equation y = - 4 x - 7 ?​

Answers

Answer:

(0, -7)

Step-by-step explanation:

Since -4x is the slope, then -7 is the y-intercept.

For finding y intercept we substitute x=0

y = -7

The ordered pair would be

(0,-7)

hope this helps and is right. p.s. i really need brainliest :)

Hellpppp me please this test is my whole life and if I don’t pass I’m ruined for life so please HELPPPP MEEEEE

Answers

Answer:

expanded form: 5 * 5 * 5

value: 125

Step-by-step explanation:

PLEASE HELP TIMED TEST What is the value of x in the matrix equation below?
3
-21
8
х
10
N
3
-1
-7
-4
-3
-1
.

Answers

Answer:

x = 1

Step-by-step explanation:

Given the matrix;

[tex]-2\left[\begin{array}{ccc}x&-1\\3&5\end{array}\right] + \left[\begin{array}{ccc}3&8\\-1&6\end{array}\right] = \left[\begin{array}{ccc}x&10\\-7&-4\end{array}\right][/tex]

Converting to equations

From the first row of each matrices

-2x + 3 = x

Collect the like terms

-2x - x = -3

-3x = -3

x = -3/-3

x = 1

Hence the value of x is 1

What is
7(2b + 3) - 2b
Pls I need help fast

Answers

Answer:

b= = - 7/4 or -1.75

Step-by-step explanation:

14b +21 -2b=0

12b +21=0

12b= -21

b= -21/12

b= - 7/4 or -1.75

Answer:

i dont know what you neccesarily want but here are two answers b=-7/4 or -1 3/4 other answer is 12b+21

Step-by-step explanation:

first, you have to set this question equal to 0.

7(2b+3)-2b=0

now you have to distribute the 7 to everything inside the parentheses.

14b+21-2b=0

combine like terms

12b+21=0

you can stop here and take this answer if this is the one you want

now subtract each side by 21

12b=-21

divide each side by 12

b=-21/12

simplify

b=-7/4

hope this helps! have a nice day :)

!NO LINKS, NO FILES!

please :)

Answers

Answer:

it is 34 that's the answer.

Step-by-step explanation:

Answer:

120 feet squared.

Step-by-step explanation:

If this is incorrect I apologize but I believe this is the correct answer.

Write rational numbers between 0 and 1
-----------------------------------------------------------------------------------------
please also say how did you solve it
this question has 20 points
I will mark you as Brillant if you answer it

Answers

Step-by-step explanation:

Multiply any number with their denominator

0/1×20=0/20

1/1×20= 20/20

Now,

3/20,5/20,6/20,15/20,18/20.....

Some one please help me find the slope of this line Thanks!

Answers

Answer:

1/2

Step-by-step explanation:

The slope can be found by looking at the Rise over run or in other words how ever much it moves up over how much it move right.

Answer: 1/2

Up once, right twice

Brainiest please!

Select the correct difference. 5d^2 + 4d - 3 less 2d^2 - 3d + 4

Answers

Answer:

[tex]3d^2+ 7d- 7[/tex]

Step-by-step explanation:

Given

[tex]P_1 = 5d^2 + 4d - 3[/tex]

[tex]P_2 = 2d^2 - 3d + 4[/tex]

Required

P1 less P2

This means that we subtract P2 from P1.

So, we have:

[tex]P_1 - P_2 = 5d^2 + 4d - 3 - (2d^2 - 3d + 4)[/tex]

Remove bracket

[tex]P_1 - P_2 = 5d^2 + 4d - 3 - 2d^2 + 3d - 4[/tex]

Collect like terms

[tex]P_1 - P_2 = 5d^2 - 2d^2+ 4d + 3d- 3 - 4[/tex]

[tex]P_1 - P_2 = 3d^2+ 7d- 7[/tex]

The difference is: [tex]3d^2+ 7d- 7[/tex]

Evaluate the function h(x)=−2x+10 when x=3.

Answers

Answer:

h(x)=4

Step-by-step explanation:

h(x)=−2x+10

h(x)=−2(3)+10

=-6+10

=4

what is the simplified form of 48\192?
[tex] \sqrt[?]{?} [/tex]

Answers

Simplified form: 48/192=
2√48.

PLEASE HELPPP! I'LL GIVE BRAINLEST​

Answers

Answer:

5

----------------

does 14, 19, 26 make a right triangle

Answers

Answer:

no one of them has to be 90 degrees

Step-by-step explanation:

Answer:

no it doesnt

Step-by-step explanation:

NEED ANSWER ASAP WILL GIVE BRAINLIEST FOR CORRECT ANSWER

Answers

Answer:

y = 500x + 5000

Step-by-step explanation:

Salim has a flock of 300 chickens, 15% of which are infected with a virus. He plans on taking an SRS of 7
chickens to test for the virus.
Which of the following would find the probability that exactly 4 of the 7 chickens sampled have the virus?

Answers

Answer:

(7/4)(0.15)^4(0.85)^3

Step-by-step explanation:

khan says it’s right

What three-dimensional figure is represented by the net shown below?
A cube
B square pyramid
C rectangular prism
D rectangular pyramid

Answers

Answer:

C

Step-by-step explanation:

The net, if you imagine it folded up, will look like a long box.

Because all the dimensions are not equal, the figure cannot be a cube. Both square and rectangular pyramids have 5 faces, unlike this net.

A net of a rectangular prism, however, will have different dimensions for [tex]l[/tex] and [tex]w[/tex], and have 6 faces. So, the answer is C, rectangular prism.

Good luck ^^

The three-dimensional figure represented by the net shown below is a rectangular prism.

Option C is the correct answer.

What is a prism?

A prism is a three-dimensional object.

There are triangular prism and rectangular prism.

We have,

From the figure,

We see that it is an open rectangular prism.

All the open sides are rectangular in shape.

If we fold all the sides it will form a rectangular prism.

Thus,

The three-dimensional figure represented by the net shown below is a rectangular prism.

Learn more about prism here:

https://brainly.com/question/12649592

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Which of the following is larfest 15% 0.153 1/7 1/12

Answers

i believe it is 0.153

Is this true or false?

Answers

Answer:

TRUE

Step-by-step explanation:

What is the measure of angle XYZ?

Answers

Answer:

D

Step-by-step explanation:

D

[tex]angle \: xyz = \frac{1}{2} arc \: xz[/tex]

please help lolllllll​

Answers

Hello, please keep in mind that (x, y)
Meaning that the first number will be X and the second will be Y. For example your X will be 2 and Y will be -3.

X will go left or right
Y will go up or down

Depending if the number is negative or positive determines what way the point should go.
(If the number doesn’t have a “-“ in the beginning it makes it positive which means it either goes up or right depending if it is X or Y)

With that being said 2 will be on the going to the right on the horizontal line and -3 will be going down on the vertical line.

Please tell me please

Answers

Answer: 35%

Step-by-step explanation:

20 bars

7 unshaded - not installed

7/20 = 0.35 = 35%

what is the least common denominator of 1/2, 2/3, and 3/8

Answers

Answer: 24

Step-by-step explanation:

Answer:

24

Step-by-step explanation:

For the least common denominator, we have to find the smallest number that all fo them multiply to.

2, 4, 6, 8, 10, 12, 14, 16, 18, 20, 22, 24, 26

3, 6, 9, 12, 15, 18, 21, 24, 27, 30

8, 16, 24, 32

i think we can see something

24 is the most common number between them all, so the fractions will be

12/24 (1/2), 16/24 (2/3), and 9/24 (3/8)

The surface area S of a cube with the side length a is given by the formula S=6a^2. Find the side length of a cube with the Surface are of 700 square inches. Round to the nearest integer

Answers

Answer:

Side length of cube = 10.80 inch (Approx.)

Step-by-step explanation:

Given:

Surface area of cube = 700 square inches

Find:

Side length of cube

Computation:

We know that all sides of cube are equal

Surface are of cube = 6(Side)²

By putting 700 as surface are of cube in the formula;

700 = 6(Side)²

(Side)² = 700 / 6

(Side)² = 116.667

Side = √116.667

Side = 10.801

Side length of cube = 10.80 inch (Approx.)

Tuesday is... 45 and Wednesday is...35

Answers

Answer:

Huh? Then Thursday will be 25, Friday 15 & Saturday 5 ~~~

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