suppose you are35 years old and would like to retire at age65 . ​Furthermore, you would like to have a retirement fund from which you can draw an income of ​$150000 per year​forever! How much would you need to deposit each month to do​ this? Assume a constant APR of8 ​% and that the compounding and payment periods are the same.

Answers

Answer 1

Answer:

  $1258.09

Step-by-step explanation:

You want the monthly annuity payment that will let you withdraw $150,000 per year forever from an account earning 8% after 30 years.

Account balance

In order to withdraw an amount "forever," the withdrawal amount must be equal to the interest earned by the account.

  I = Prt

  150,000 = P(0.08)(1)

  P = 150,000/0.08 = 1,875,000

Annuity payment

The value of an ordinary annuity is given by the formula ...

  A = P(12/r)((1 +r/12)^(12t) -1) . . . . . where P is the monthly payment, and r is the annual interest rate earned over a period of t years.

Using the values we know, we can find P:

  1875000 = P(12/0.08)((1 +0.08/12)^(12·30) -1) = 1490.359449P

  P ≈ 1258.09

You would need to deposit $1258.09 each month.

__

Additional comment

The formulas used here assume that the deposits and withdrawals occur at the end of the month.


Related Questions

Constructing a Confidence Interval for a Population Proportion
If n = 130 and p= 0.69, construct a 99% confidence interval.

Answers

The Confidence Interval for a Population Proportion is 0.69 ± 1.13

(-0.44 to 1.82)

Confidence Interval:

Confidence Interval means a range of values that is determined through the use of observed data, calculated at a desired confidence level that may contain the true value of the parameter being studied.

Given,

n = 130 and

p= 0.69,

construct a 99% confidence interval.

Here we need to find the confidence interval.

According to the formula, the confidence interval is,

We know that,

Sample Size: 130

Sample Mean: 0.69

Confidence Level: 99%

99% Confidence Interval: 0.69 ± 1.13

(-0.44 to 1.82)

"With 99% confidence the population mean is between -0.44 and 1.82, based on 130 samples."

Margin of Error: 1.13

(to more digits: 1.13)

To know more about Confidence Interval here.

https://brainly.com/question/13067956

#SPJ1

??????????????????/?

Answers

iven

adiius of circle = 3 ft

ind

rea and circumference of a circle

xplnanation

Circumference of a circle is given by

[tex]\begin{gathered} C=2\pi r \\ C=2\times3.14\times3 \\ C=18.84ft \end{gathered}[/tex]

Area of circle =

[tex]\begin{gathered} A=\pi r^2 \\ A=3.14\times3\times3 \\ A=28.26ft^2 \end{gathered}[/tex]

inal ANnswer

ircumference =

[tex]18.84ft[/tex]

Area =

[tex]28.26ft^2[/tex]

PLEASE HELP ME I NEED 4 ANSWERS !!!!!!!!!! a) Fill in the gaps to factorise the expression below.
3x² + 16x + 5 = (3x + −)(x + −)
b) Use your answer to part a) to solve 3x² + 16x + 5 = 0

Answers

The roots the the given quadratic equation, will be -1/3 and -5 so the factors will be (3x+1)(x+5). As the value of roots is known, so the value of quadratic equation will be zero (0) for both the roots.

As per the question statement, we are supposed to fill the gaps to factorize the quadratic equation given :

3x² + 16x + 5 = (3x + _)(x + _)

We need to solve the expression for finding out its factors.

y = 3x² + 16x + 5

y = 3x² + 15x + x + 5

y = 3x(x + 5) + 1(x + 5)

y = (3x + 1)(x + 5)

Therefore, the  roots the the given quadratic equation, will be -1/3 and -5 so the factors will be (3x+1)(x+5). As the value of roots is known, so the value of quadratic equation will be zero (0) for both the roots.

Quadratic equation: Any equation where there is just one term that squares the unknown and none that raises it to a higher power.Roots: Roots of any quadratic equation / expression is the value of the variable at which the complete value of the expression becomes zero (0). Number of roots = highest degree.

To learn more about Quadratic equation, click on the link given below:

https://brainly.com/question/26090334

#SPJ1

How can you use the Power of a Quotient, Quotient of Powers, Zero Exponent Laws Identity Exponent and to evaluate numerical expressions with whole-number exponents?​

Answers

Calculate identity exponents using the exponent of the quotient, degree of exponent, and the law of zero exponent equations and evaluate numerical equations with integer exponents.

The following is an equivalent numeric expression with an integer exponent that uses the quotient, the quotient, zero-degree rule, and the identity exponent, and evaluates the numeric expression.

[tex]2^{5} \\[/tex] × [tex]2^{6}[/tex] = [tex]2^{11}[/tex], using the product of powers.

2² × 2³ = (2×3)² = 6², using the power of a product.

[tex](2^{2})^{6}[/tex] = [tex]2^{12}[/tex], using the power of a power.

The seven laws of exponents are the power rule, the power ratio rule, the power rule, the power rule, the power quotient rule, the power zero rule, and the negative exponent rule. Arithmetic questions, as well as how to multiply, divide and add powers.

Learn more about the Power of a Quotient, Quotient of Powers, and Zero Exponent Laws at

https://brainly.com/question/28652002?referrer=searchResults

#SPJ1

In August, a giant panda named Max was born at the Silver City Zoo. In September, Max weighed 3.04 pounds. Today, Max is weighed again and he is heavier than before. Now Max weighs 10.73 pounds.

Answers

The most appropriate choice for for linear equation will be given by -

Gain in weight of Max = 7.69 pounds

What is linear equation?

At first it is important to know about equation

Equation shows the equality between two algebraic expressions by connecting the two algerbraic expressions by an equal to sign.

A one degree equation is known as linear equation.

Let the gain in weight be x pounds

Weight of Max in the month of September = 3.04 pounds

Weight of Max today = 10.73 pounds

By the problem,

                          3.04 + x = 10.73

                                     x = 10.73 - 3.04

                                     x = 7.69

Gain in weight of Max = 7.69 pounds

To learn more about linear equation, refer to the link:

https://brainly.com/question/2030026

#SPJ9

Question
Solve the formula C = πd for л.

Answers

Two or more expressions with an Equal sign is called as Equation.π=  C/d for equation C = πd

What is Equation?

Two or more expressions with an Equal sign is called as Equation.

The given equation is  C = πd

c equal to pi times of d

We need to solve it for  π

To solve for  π we have to separate  π from d. To make this We have to divide both sides by d.

So C/d= π

Hence π=  C/d for equation C = πd

To learn more on Equation:

https://brainly.com/question/10413253

#SPJ1

A rectangular dog pen is constructed using a barn wall as one side and 120m of fencing for the other three sides. a) give a sketch of the situation. b) express the area in terms of x. c) sketch the graph. d) find the value of x that gives the greatest area. e) find the dimensions of the pen. f) state the domain.

Answers

The solutions to the question are

The area of the pen in terms of x is A = x(120 - 2x)The x value that gives the highest area is 30The dimensions is 30 by 60The domain is 0 <= x <= 60

a) How to determine the sketch

The given parameters are:

Sides = 3

Fourth side = barn wall

Perimeter = 120 m

Next, we sketch the dog pen using the above parameters (see attachment)

b) The area of the pen

Here, we have

P = 120m

Also, we have

P = 2x + y

This gives

2x + y = 120

Make y the subject

y = 120 - 2x

The area is calculated as

A = xy

So, we have

A = x(120 - 2x)

Hence, the area is A = x(120 - 2x)

The sketch of the graph

See attachment for the graph of A = x(120 - 2x)

The value of x that gives the greatest area

We have

A = x(120 - 2x)

Expand

A = 120x - 2x^2

Differentiate

120 - 4x= 0

So, we have

4x = 120

This gives

x = 30

Hence, the value of x that gives maximum area is 30

The dimensions of the pen

Recall that

y = 120 - 2x

So, we have

y = 120 - 2 * 30

Evaluate

y = 60

Hence, the dimensions is 30 by 60

The domain of the function

From the graph, we have

x = 0 to 60

Hence, the domain of the function is 0 <= x <= 60

Read more about area at

https://brainly.com/question/13048427

#SPJ1

There are 4 triangles and 8 squares. What is the simplest ratio of triangles to squares?

Answers

Answer:

1:2

Step-by-step explanation:

For every triangle there are two squares.

The freezing point of seawater is −2 °C. The freezing point of nitric acid is −42 °C.

A photo of frozen seawater is shown.

How much greater is the freezing point of seawater than the freezing point of nitric acid?

Answers

The difference between the freezing point of seawater and the freezing point of nitric acid is 40 °C.

As per the question, we can write

The freezing point of seawater = −2 °C.

The freezing point of nitric acid = −42 °C.

We were asked to calculate the difference between the freezing point of seawater and the freezing point of nitric acid. We can find the difference between the freezing point of seawater and the freezing point of nitric acid by following the steps mentioned below;

The difference between the freezing point of seawater and the freezing point of nitric acid = Freezing point of Seawater - Freezing point of nitric acid

The difference between the freezing point of seawater and the freezing point of nitric acid = -2 - (-42) = 40 °C.

To know more about Freezing Point refer to the link:

https://brainly.com/question/24314907

#SPJ1

A bag of flour has a mass of 4.5 kilograms. How many grams are in 4.5 kilograms?

Answers

The first thing we have to know is that 1 kilogram is equal to 1000 grams

[tex]\begin{gathered} 1\operatorname{kg}\to1000gr \\ \frac{1000gr}{1\operatorname{kg}} \end{gathered}[/tex]

if we have 5.4 kilograms

[tex]\begin{gathered} 4.5\operatorname{kg}\cdot\frac{1000gr}{1\operatorname{kg}}=(4.5)(1000gr) \\ \end{gathered}[/tex][tex]4.5kg=4500gr[/tex]

what is the answer of that

Answers

40° is the value of the angle ∠QPR.

What are angles?When two straight lines or rays intersect at a single endpoint, an angle is created. The vertex of an angle is the location where two points come together. The Latin word "angulus," which means "corner," is where the word "angle" originates. The names of fundamental angles include acute, obtuse, right, straight, reflex, and full rotation.

So, PQ ⊥ PS then, ∠QPS = 90°.

According to the given figure: ∠QPR + ∠RPS = ∠QPS

Then,

7x - 9 + 4x + 22 = 9011x + 13 = 9011x = 90 - 1311x = 77x = 7

So, ∠QPR = 7x - 9°

Substitute x = 7 as:

7(7) - 9°49 - 9°40°

Therefore, 40° is the value of the angle ∠QPR.

Know more about angles here:

https://brainly.com/question/25770607

#SPJ9

x+53+86=65 which is this​

Answers

Answer:

[tex]x + 53 + 86 = 63 \\53 - 86 = 33[/tex]

The area of the parallelogram is 24 square miles.find base and height

Answers

The base of the parallelogram is 3

The height of the parallelogram is 8

How to calculate the base and height of the parallelogram ?

Let the base be represented as (x+2)

Let the height be represented as (x-2)

The area of the parallelogram is 24

The first step is to get two numbers that can be multiplied together to get 24

= 3 × 8

The two numbers are 3 and 8

Hence the base is 3 and the height is 8

Read more on parallelogram here

https://brainly.com/question/28566967

#SPJ1

the filer middle school soccer team of 27 students is riding to an out of town game. if 6 students can ride in a van, how many vans will be needed?

Answers

5 vans because 6 x5= 30 which leaves 3 extra seats

What is the value of x?
6x-2(x+4)=12

Answers

Answer:

Step-by-step explanation:

6x-2x-8=12  

4x-8=12    (add 6x and -2x)

4x=20         (8+12=20)

x=5   (4 divide by 20 =5)

6x-2(x+4)=12
6x-2x-8=12
+8 +8

4x = 20
/4 /4

X=5

Exploring Sample Space

In the given sample spaces, which has the largest sample space?

M-{1, 2, 3, 4, 5, 6, 7, 8, 9, 10}
A {10, 20, 30, 40, 50, 60, 70, 80, 90}
T{20, 25, 30, 35, 40, 45, 50, 55, 60}
H-{2, 4, 6, 8, 10, 12, 14, 16, 18, 20, 22}
????

Answers

I think is option A because is adding 10+10 while the other options are adding +1 or +5

which expression would be easier to simplify if you use the associative property to change the grouping A: [-14+(-26)]+67B: (2/5+3/5) +7/3C: (43 + 60) + 40D: (50+50)+63

Answers

The associative property let us associate different terms or factors in order to solve some expression.

We have to find the expression in which this property is more useful.

The only expression where the associative may be helpful is C, as we can associate this way:

(43 + 60) + 40 = 43 + (60 + 40) = 43 + 100 = 143

In the other expression there is no advantage in applying this property.

Answer: C

someone please help me!!!!

Answers

Answer:

First Choice:

(1.4)(0.18)²

Step-by-step explanation:

Using the negative exponent rule

[tex]\left(\dfrac{a}{b}\right)^{-1} = \dfrac{b}{a}[/tex]

we get

[tex]\left(\dfrac{5}{7}\right)^{-1} = \dfrac{7}{5}[/tex]

[tex]\dfrac{7}{5} = 1.4\\\\[/tex]

Therefore
[tex]\left(\dfrac{5}{7}\right)^{-1}\left(0.18\right)^2\\\\= (1.4)(0.18)^2[/tex]

On a coordinate plane, point A is located (-2,2) and point B is located at (6,-1). Determine the coordinates of the point that is 7/8 of the distance from a to b

Answers

The coordinates of the point that at 7/8 from a to b are (5, -5/8)

How to determine the coordinate of the point on the line segment?

On the segment, we have the following endpoints

A = (-2, 2)

B = (6, -1)

Also, we have the line ratio to be

Ratio, m : n = 7/8

Express the ratio as a ratio

So, we have

m : n = 7 : 8 - 7

Evaluate the difference

So, we have

m : n = 7 : 1

The coordinate of the point at the given distance is then calculated as

Point = 1/(m + n) * (mx2 + nx1, my2 + ny1)

So, we have

Point = 1/(7 + 1) * (7 * 6 + 1 * -2, 7 * -1 + 1 * 2)

Evaluate the products

So, we have

Point = 1/8 * (42 -2, -7 + 2)

Evaluate the sum and the difference

So, we have

Point = 1/8 * (40, -5)

Evaluate the products

So, we have

Point = (5, -5/8)

Hence, the coordinates of the point that is 7/8 of the distance from a to b are (5, -5/8)

Read more about line segment ratio at

https://brainly.com/question/17374569

#SPJ1

Florence wants to invest money abroad.  Florence is aware that France generally has a recession every 6 years and America generally has a recession every 8. in the year 2005, both France and America were in recession. Florence needs to work out the next time they will both be in recession. When will this be?

Answers

The most appropriate choice for LCM will be given by

After the year 2005, France and America will be in recession in the year 2029

What is LCM?

Suppose a and b are two numbers. LCM of a and b is the lowest common multiple of a and b. LCM of a and b is the lowest number that is divisible by both a and b.

Here,

France has a recession every 6 years.

America has a recession every 8 years.

Florence works out when France and America will both be in recession.

It will be possible in the year which is a common multiple of 6 and 8

In the year 2005, both France and America were in recession

France and America will both be in recession again after (LCM of 6 and 8) years

Now,

6 = 2 x 3

8 = 2 x 2 x 2

LCM of 6 and 8 = 2 x 2 x 2 x3

                          = 24

France and America will both be in recession again after 24 years  

After the year 2005, France and America will be in recession in the year (2005 + 24) = 2029

To learn more about LCM, refer to the link:

brainly.com/question/16054958

#SPJ9

Rajiv puts $2400 in a savings account.
One year later it is worth $2580

Work out the annual rate of interest.​

Answers

[tex]~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\dotfill & \$2580\\ P=\textit{original amount deposited}\dotfill & \$2400\\ r=rate\to r\%\to \frac{r}{100}\\ t=years\dotfill &1 \end{cases} \\\\\\ 2580=2400[1+(\frac{r}{100})(1)] \implies \cfrac{2580}{2400}=1+\cfrac{r}{100}\implies \cfrac{43}{40}\implies \cfrac{100+r}{100} \\\\\\ \cfrac{4300}{40}=100+r\implies \cfrac{215}{2}=100+r\implies \cfrac{215}{2}-100=r\implies \boxed{\stackrel{\%}{7.5}=r}[/tex]

Answer:

7.5%

Step-by-step explanation:

What is f^-1(-7) plus f(-7)? I need help answering this question

Answers

Answer:

  13

Step-by-step explanation:

You want the sum of f^-1(-7) and f(-7) given the function definition in the table.

Inverse function

The inverse function f^-1(x) consists of ordered pairs that are the reverse of the ordered pairs (x, f(x)). That is ...

  (x, f^-1(x)) ≡ (f(x), x)

Another way to describe f^-1(x) is "the value of z that gives f(z) = x". This means f^-1(-7) is the value of x that gives f(x) = -7. That x-value is 6:

  f^-1(-7) = 6 . . . . . from the 4th column of the table

Function value

We can read the function value directly from the table:

  f(-7) = 7 . . . . . . the first column of the table

Sum

Then the sum of interest is ...

  f^(-1)(-7) +f(-7) = (6) +(7)

  f^(-1)(-7) +f(-7) = 13

__

Additional comment

The inverse function ordered pairs are ...

  (x, f^-1(x)) = {(7, -7), (12, 11), (8, -13), (-7, 6), (13, 5)}

[x+(1/3)] + [x+(1/5)] = 1, where [x] is the whole part of x.

Answers

[tex](x + \frac{1}{3} ) + (x + \frac{1}{5} ) = 1 \\ x + x + \frac{1}{3} + \frac{1}{5} = 1 \\ 2x(15) + \frac{1}{3} (15) + \frac{1}{5} (15) = 1(15) \\ 30x + 5 + 3 = 15 \\ 30x = 15 - 5 - 3 \\ 30x = 7 \\ \frac{30x}{30} = \frac{7}{30} \\ x = \frac{7}{30} [/tex]

ATTACHED IS THE SOLUTION

Find the values of x and z

Answers

z = 104
The angle opposite z is 104, so therefore z must be equal to the opposite angle.

x = 2
We know angles on a straight line add up to 180. We already know that there are two angles, one of which is 104.
180-104 is 76.
Next, we put this value into an equation:
76 = 13x + 50
76 -50 = 13x
26 = 13x
2 = x

The U.S. Energy Information Administration (US EIA) reported that the average price for a gallon of regular gasoline is 3.91. The US EIA updates its estimates of average gas prices on a weekly basis. Assume the standard deviation is .24 for the price of a gallon of regular gasoline and recommend the appropriate sample size for the US EIA to use if they wish to report each of the following margins of error at confidence. Round up to the next whole number.

a. The desired margin of error is .11 The appropriate sample size is
.

b. The desired margin of error is .07 . The appropriate sample size is
.

c. The desired margin of error is .04. The appropriate sample size is

Answers

Answer:

3

Step-by-step explanation:

1 = 1

which graph represents the inequality 2.5 greater than the product of -0.5 and a number?

Answers

The graph of the inequaity expression is added as an attachment

What are inequality expressions?

Inequality expressions are mathematical statements that are represented by variables, coefficients and operators where the opposite sides are not equal

How to plot the graph of the inequaity expression?

The mathematical statement is given as

"2.5 greater than the product of -0.5 and a number"

Product means times

So, we have the following representation

"2.5 greater than the product of -0.5 and a number" ⇒  2.5 greater than -0.5 * a number

Let the number be x

So, we have

"2.5 greater than the product of -0.5 and a number" ⇒  2.5 greater than -0.5x

Greater than is represented by >

So, we have

"2.5 greater than the product of -0.5 and a number" ⇒  2.5 > -0.5x

Next, we plot the graph of the inequality expression

See attachment for the graph of the inequality expression

Read more about inequality at

https://brainly.com/question/25275758

#SPJ1

12/4= x/5
can someone help me. i need a step-by-step answer!

Answers

12/4= x/5

Multiply both sides of the equation by 20, the lowest common denominator of 4,5.

5×12=4x

Multiply 5 and 12 to get 60.

60=4x

Swap the sides so that all the terms of the variables are on the left side.

4x=60

Divide both sides by 4.

x = 60/4

Divide 60 by 4 to get 15.

x=15

Write an equation of the line passing through the point A(6,-1) that is perpendicular to the line y=-2x+8

Answers

Answer:

[tex]y+1=\frac{1}{2}(x-6)[/tex]

Step-by-step explanation:

Perpendicular lines have slopes that are negative reciprocals, so the slope of the line to be found is 1/2.

Substituting into point-slope form, the equation is

[tex]y+1=\frac{1}{2}(x-6)[/tex]

Toby picks a 5-digit number. It is larger than 49,999 and it is a multiple of 5. How many different numbers could he have picked?

Answers

The total number of different numbers which Toby could have picked according to the task content as given is; 1,000.

How many different numbers could Toby have picked?

It follows from the task content that the number of different numbers which Toby could have picked given the conditions is to be determined.

On this note, since the required number is to be greater than 49,999 and must be a 5-digit number, the numbers which he could pick would range from;

49,999 - 99,999.

Hence, there are 5000 numbers in between.

Additionally, since the number must be a multiple of 5, the total number of multiples of 5 from 5,000 consecutive numbers is;

= 5,000/5

= 1000 different numbers.

Therefore, Toby could pick any of 1000 different numbers.

Read more on multiples of 5;

https://brainly.com/question/764013

#SPJ1

Mark's football team has scored about 24 points each game. They played 12 games this season.
What is the best estimate for the total number of points they scored in the season?
Ο Α. 150
B. 250
OC. 20
OD. 360

Answers

Answer:

250

Step-by-step explanation:

Answer : about 300 points

Step by Step- explains 24 x 12 = 288 rounded up to 300
Other Questions
Select the correct answer from each drop-down menu. This graph represents gasoline price trends in New Mexico. and then it First the price of gasoline in New Mexico Which one-sentence conclusion would make the reader want to know more about the topic?A. That is nothing compared to what Wilson would achieve.B. In summary, Wilson was enormously influential.C. We owe a great deal to Wilson for her work.D. Wilson accomplished all this during her long career. Simplify the expression. Write the answer in scientific notation.(9x10-3) (4x10-3) A functional dependency in which one or more nonkey attributes are functionally dependent on part, but not all, of the primary key is called a ________ dependency. For the graph of a function f(x, y) with coordinates (7,-4), (3, 5), and (-6, -2), what are the new coordinates given thefunction translation f(x, y)-(-x, -y).1 (-7,4), (3,-5), (6,2)2 (7,4), (-3,-5), (6,2)3 (7,-4), (-3,-5), (-6,-2)4 (-7,4), (-3,-5), (6,2) 12 is the geometric mean of 16 and what number? NEED SOME HELP PLEASE!! :)7. Why is it impossible for a paper clip to contain the enzyme catalase? a movable bracket is held at rest by a cable attached at e and by frictionless rollers. knowing that the width of post fg is slightly less than the distance between the rollers, determine the force exerted on the post by each roller when Hello! I need some help with this homework question posted below. Q17 Sets B and G are defined as follows. B=(-2, 2, 3, 5) G=(-1,0,2,4,7) - Answer each part below. Write your answer in roster form or as (a) Find the intersection of B and G. B n G=0 (b) Find the union of Band G. BU G=0 X Who did the United States purchase the Louisiana Territory from?O Aaron BurrO Napoleon BonaparteOSaint-DomingueO Toussaint L'Ouverture Put the following examples of levels of organization of living things in order from smallest to largest, placing the smallest at the top Think about a topic that addresses the prompt, then write your topic here. What was the main issue at hand in the Taos Pueblo's battle for Blue Lake? * Please solve this question*what are the elements of climate change? Some of the traits in the chart are not simple cases of dominant and recessive. List those traits that show a blending of genes Match each of the following verbs in English to the type of stem-change they have inSpanish.Ask forCanPossible answers :O-ue E-i PLEASE HELP Which of the following is not one of the essential elements of a healthy physical lifestyle:O Using risky substances (alcohol and drugs) and participating in risky behaviors that can threaten your health and safety.O Supplying your body with effective fuel (nutrition)O Converting the fuel you consume into bodily energy (exercise).O Giving your body adequate rest (sleep) so that it can recover the energy it has expended. the alkoxide group on chymotrypsin that attacks the carbonyl oxygen of the peptide bond of the substrate arises from which active-site amino acid side chain? An accountant receives a yearly salary of $72,000. Find his monthly salary.