Sally plans to retire at the age of 64 and has an account that will provide 6% interest compounded monthly. Determine how much money needs to be in Sally's account on the day sure turns 64 if she would like to be able to receive monthly payments of $9500 from age 64 until age 83.

Answers

Answer 1

Answer:

She needs to have $694,700 in her account

Step-by-step explanation:

Here, we want to know the amount that should be in Sally’s account on that day she turns 64

Firstly, we need to know the difference between the ages of 64 and 83

The difference between these ages are 83-64 = 19

So, she intends receiving $9,500 per month for 19 years

The number of months in 19 years is 19 * 12 = 228 months

So, the total amount of money she needs is 228 * 9,500 = $2,166,000

Now, we have an interest that would be compounded but in this case, we already have the amount needed but what we need is the principal to be compounded in this case

The formula for compound interest here is;

A = P( 1 + r/n)^nt

where A is the amount which is 2,166,000

P is ?

r is the interest rate = 6% = 6/100 = 0.06

n is the number of times we are compounding in a year; since it is monthly, that would be 12 times in a year

t is the number of years which is 19 in this case

Substituting all values, we have that;

2,166,000 = P( 1 + 0.06/12)^(12*19)

2,166,000 = P(1.005)^(228)

P = 2,166,000/(1.005)^228

P = $694,699

This rounded to a whole dollar is P = $694,700


Related Questions

1) Graph the quadratic function given in standard form and identify the key features. Include at least 5 points on your
graph.
y=-x²-2x +1
Axis of Symmetry:
Vertex:
Y-intercept:
Domain:
Range:
Just question one plz help ASAP

Answers

Answer:

14

Step-by-step explanation:

A group of 3 friends are practicing for a track meet. The group is going to run 7 12 miles total. If they each run the same distance, how far will each person run?

For full points:

1) Show your thinking step by step on how you solved this problem.

2) Do not forget to include the final answer.


pls hurry ;-;

Answers

Wait, I can answer this, but I have a quick question. Is it 712 miles or 7/12 miles?

A classroom is 11 m long, 8 m wide and 5.5 m high Find the sum of the areas of the four walls.
( please show the working out pleaseee)​

Answers

Answer:

209 m²

Step-by-step explanation:

The class room has a measurement of 11 m long, 8 m wide and 5.5 m high. Hence the walls of the classroom would be 4, with the following measurements.

Wall 1: 11 m by 5.5 m, Wall 2: 8 m by 5.5 m, Wall 3: 11 m by 5.5 m and Wall 4: 8 m by 5.5 m

The area of wall 1 = 11 m * 5.5 m = 60.5 m²

The area of wall 2 = 8 m * 5.5 m = 44 m²

The area of wall 3 = 11 m * 5.5 m = 60.5 m²

The area of wall 4 = 11 m * 5.5 m = 44 m²

The sum of areas of the fall wall = area of wall 1 + area of wall 2 + area of wall 3 + area of wall 4

The sum of areas of the fall wall = 60.5 + 44 + 60.5 + 44 = 209 m²

it takes 12 people to pull 30 tons of goods how many people would it take to pull 60 tons of goods ​

Answers

Answer:

24

Step-by-step explanation:

60 is double of 30 so double 12 to get your answer, 12 time two is 24

Answer Plz, ASAP. Within 10 minutes will be Marked as Brainliest ​

Answers

[tex]\large\bold{\underline{\underline{To \: Find:-}}}[/tex]

[tex] \sf \left|\begin{array}{c c} sin20\degree & -cos20\degree \\ sin70\degree & cos70\degree \end{array}\right|=?[/tex]

[tex]\large\bold{\underline{\underline{Explanation:-}}}[/tex]

They are asking us to find the determinant

[tex]\boxed{\sf \left|\begin{array}{c c} a & b \\ c & d \end{array}\right| =ad-bc}[/tex]

Now using the above formula it becomes

[tex]\left|\begin{array}{c c} sin20\degree & -cos20\degree \\ sin70\degree & cos70\degree \end{array}\right| \: = sin20 \degree cos70 \degree - ( - cos20 \degree sin70 \degree) \: \\ \\ = sin20 \degree cos70 \degree + cos20 \degree sin70 \degree [/tex]

Now using the formula

[tex]\boxed{\sf sin(A+B)=sinAcosB+cosAsinB}[/tex]

it becomes

[tex] \longrightarrow \: sin(20 + 70) \\ \\ \longrightarrow \: sin(90 \degree) = 1[/tex]

★Therefore

[tex] \boxed{\sf \left|\begin{array}{c c} sin20\degree & -cos20\degree \\ sin70\degree & cos70\degree \end{array}\right|=1}[/tex]

━━━━━━━━━━━━━━━━━━━

★Extra information:-

What is a matrix?

☄It is a rectangular representation or array of numbers,symbols and many more functions

☄It is represented in rows and columns

━━━━━━━━━━━━━━━━━━━━━━━━━━

PLEASE HELP ASSP !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Answers

Answer:

A: 2/9

Step-by-step explanation:

Help me on this math problem please! I’ve been stuck on it for 15 mins now

Answers

Answer:

Step-by-step explanation:

P = perimeter = 114

P =2 * length +2* width

P = 2(2x - 3) + 2(x)

114 =  4x-6  + 2x

114 = 6x -6

19 = x -1

20 = x

check it  

2( 2x -3)+2x =  ?  

4x -6 +2x=?

6x -6 = ?

6(20)-6 =?

120-6 = 114

yep this is correct

Explain it too and is it x method?

Answers

Look when I factored this question I got 4(x+6)(x-8)
So Iam not sure either what the correct answer is but that’s what I got

|-4/5-1/10| + |-3/4+5/2|

A.) 9/10
B.) 53/20
C.) 7/4
D.) 17/10​

Answers

Answer:

B.) 53/20

General Formulas and Concepts:

Pre-Algebra

Order of Operations: BPEMDAS

Brackets Parenthesis Exponents Multiplication Division Addition Subtraction Left to Right

Algebra I

|Absolute Value| makes any negative number positive

Step-by-step explanation:

Step 1: Define

|-4/5 - 1/10| + |-3/4 + 5/2|

Step 2: Evaluate

Subtract:                    |-9/10| + |-3/4 + 5/2|Add:                           |-9/10| + |7/4|Absolute Value:        9/10 + 7/4Add:                           53/20

PLEASE HELP
f(x) = x2. What is g(x)?

Answers

Answer: Choice C.  g(x) = (3x)^2

To confirm this, plug in x = 1 and you'll find that:

g(x) = (3x)^2

g(1) = (3*1)^2

g(1) = (3)^2

g(1) = 3*3

g(1) = 9

Showing that (1,9) is on the red g(x) curve.

the total distance that fred amy and leah need to drive is 180 miles. fred will drive 65 miles and leah will drive 45 miles. how many miles will amy need to drive

Answers

Answer:

Amy needs to drive 70 miles.

Step-by-step explanation:

180-(65+45)=?

180-(110)=70

Have no idea how to do this lok

Answers

Answer:

that hard

Step-by-step explanation:

think of an event that might occur at three different speeds and describe it.

Answers

Answer:

tornado!

Step-by-step explanation:

sometimes tornados can start off slow and sometimes they can go really fast.

the diagram shows two parallel lines cut by a transversal. If the measure of < 3 = ( 7y + 15) and the measure of < 5 = ( 110 - 2y) , what is the measure of <4​

Answers

Step-by-step explanation:

Angle 3 + Angle 5 = 180° (C-angles)

Therefore 7y + 15 + 110 - 2y = 180, 5y = 55, y = 11.

Angle 4 = Angle 5 (Z-angles)

Hence Angle 4 = 110 - 2y = 110 - 2(11) = 88°.

TRAVEL It is about 350 miles from Ruidoso, New Mexico, to Abilene, Texas. Haruko has already driven 75 miles and made it to Roswell, New Mexico. She hopes to finish the rest of her trip, including stops, in 5 hours. Write an equation to find the average speed Haruko needs to drive to finish the rest of her trip in 5 hours.

Answers

Answer:

55 mph

Step-by-step explanation:

Given that:

Total miles of journey = 350 miles

Miles already driven = 75 miles

To cover the rest of the journey in 5 hours, the average speed of travel. Will be:

Recall:

Speed = (Distance left to cover ÷ budgeted travel time)

Distance left to cover : (total miles - distance already driven)

Average speed required = (350 - 75) / 5

= 275 / 5

= 55 mph

What is the interval notation for the compound inequality? x≤−4 or x≥5
(−∞, −4) or (5, ∞)
(−∞, −4] or [5, ∞)
(−4,5)
[−4,5]

Answers

Answer:

(-∞, -4] or [5, ∞)

Step-by-step explanation:

Because the solutions for x can also be equal to -4 and 5, brackets are used.

And because the solutions for x can be any number less than -4 or any number greater than 5, -∞ and ∞ are used respectively.

Express 0.000000000936 in
scientific notation.
9.36x10
Enter

Answers

Answer:

9.36 x 10^(-10)

Step-by-step explanation:

What is the expression shown

Answers

Answer:

There is nothing but your question and you should try on your own

Step-by-step explanation:

Answer:

N/A

Step-by-step explanation:

There is not context with this problem, therefore it cannot be solved.

In the figure, point C is the midpoint of (A/E) Use the figure to answer the questions.

Avery says that AbC /DeC by the ASA congruence postulate. Do you agree or disagree Explain?
Suppose it is also known that point C is also the midpoint of (B/D Which postulate or theorem can be used to prove that aBC/DeC? Justify your answer.

Answers

Answer:

Disagree ΔABC ≅ ΔDEC by ASA butt by SAS

Step-by-step explanation:

point C is the midpoint of (A/E), C is also the midpoint of (B/D )

BC = CD   and AC = CE

∠BCA = ∠ECD

ΔABC ≅ ΔDEC by SAS not by ASA

A line is perpendicular to y = 3x - 8
and intersects the point (2,2).
What is the equation of this
perpendicular line?

Answers

Since the line is perpendicular, we know that the slope is reciprocal and negative to the other one.

So,

y = -4x + b

We want to find the y-intersect (b) so substitute the intersected points and solve for it.

2 = -4(2) + b

2 = -8 + b

2 + 8 = b

10 = b

So the complete equation would be:

y = -4x + 10

help!!

Find the solution of the system of equations
shown on the graph.

Answers

Answer:

(0,6)

Step-by-step explanation:

When a system of equations is graphed, the point at which the lines intersect is a solution to the system. Looking at the graph, we can see that the lines intersect at (0,6). Therefore, (0,6) is a solution to the system of equations.

Consider the following triangle side lengths and determine if the triangle could exist. Justify your answer. Part A: 21,18,17 Part B: 3,12,8

Answers

Answer:

A yes, B no

Step-by-step explanation:

The triangle inequality states that the sum of any 2 sides of the triangle must be greater than the third side.

A Given 21, 18, 17 , then

21 + 18 = 39 > 17

21 + 17 = 38 > 18

18 + 17 = 35 > 21

Thus the triangle could exist

B Given 3, 12, 8 , then

3 + 12 = 9 > 8

3 + 8 = 11 < 12 ← fails the test

Thus the triangle does not exist

Express 27 4/3 in simplest radical form

Answers

Answer:

3⁴

Step-by-step explanation:

Expressing in the simplest radical form means simplifying a radical so that there are no more square roots, cube roots, fourth roots etc.

It further means removing radicals in the denominator of a fraction.

Given

[tex]27^{4/3}[/tex]

this can be written as

[tex](\sqrt[3]{27} )^{4}[/tex]

This is simplified as;

(3)⁴

HELPP! Find the y-intercept of the line on the graph.
Enter the correct answer

Answers

Answer:

-2

Step-by-step explanation:

The y-intercept of the line is -2

Answer:

-2

Step-by-step explanation:

because  the line is on the -2 on the y axis

Round 3292.53429 to the nearest hundred thousandth

Answers

Answer:

The answer is "0.00001"

Step-by-step explanation:

Given value:

[tex]\to 3292.53429[/tex]

when we round a hundred thousandths (100,000) value. So, the given rounding 3292.53429 to the nearest 0.00001.

BC = 17.89
DC = 16
with reference to the figure sin x=?
a.0.250
b. 0.447
c.0.894
d. 1

Answers

Answer:

c

Step-by-step explanation:

The value of sin x in the given right triangle is 0.894.

What sine of an angle?

The sine of an angle is a trigonometric function that is defined as the ratio of the length of the side opposite the angle to the length of the hypotenuse in a right triangle.

Given is right triangle ABC, we need to find the value of sin x,

So, we see that the figure is divided into three similar triangles,

Namely,

Δ CDB ~ Δ BDA ~ Δ CBA,

Therefore, according to the definition of similarity,

We have,

CD / CB = BD / BA = 16/17.89

Therefore, BD / BA = 0.894

Also,

sin x = BD / BA

Therefore,

sin x = 0.894

Hence the value of sin x in the given right triangle is 0.894.

Learn more about sine of an angle, click;

https://brainly.com/question/3827723

#SPJ7

Line A passes through points (2, 9) and (7, 3). Line B passes through points (1, 4) and (7, 9). Are line A and line B parallel or perpendicular?

Answers

they are perpendicular (mark brainliest pls)

I thought of a number. I divided that number by 4 and added 6 to it. The result was 8. What was my number?

Btw this is supposed to be a fun-like math question :)

Answers

Answer:

8

Step-by-step explanation:

x÷4+6=8 x=8loooooooooooooooooooooooooooooooooooool

Rewrite in simplest terms: (10x + y) + (10x – 7y)
Oh

Answers

9514 1404 393

Answer:

  20x -6y

Step-by-step explanation:

Parentheses can be eliminated and like terms combined.

  10x +y +10x -7y

  = x(10 +10) +y(1 -7)

  = 20x -6y

What is the solution to the system below?
y = -3x - 2
6x + 2y = -4

Answers

Answer:

Infinitely many solutions

Step-by-step explanation:

Since y=-3x-2, plug it in (2)

6x+2(-3x-2)=-4.

Distribute:

6x-6x-4=-4

-4=-4

Infinetly many solutions.

Hope this helps :)

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