Suppose you want to have $600,000 for retirement in 30 years. Your account earns 6% interest. How much would you need to deposit in the account each month?

Answers

Answer 1

To have $600,000 for retirement in 30 years with 6% interest , we need to deposit $498.29 in the account each month.

As given in the question,

Final amount 'A'= $600,000

Time 't' = 30years

Rate of interest 'r'= 6%

Month =12

Let 'P' be the amount deposit in the account each month

[tex]A = \frac{(P(1+\frac{r}{m})^{mt}-1 )}{\frac{r}{m} }\\\\\implies 600,000 = \frac{(P(1+\frac{6}{12\times 100})^{12\times 30}-1 )}{\frac{6}{12\times 100} }\\\\\implies 600,000 \times \frac{1}{200}= P (\frac{12.06}{12})^{360}-1 \\\\\implies 3000 +1 = P(1.005)^{360} \\\\\implies P = \frac{3001}{6.02258} \\\\\implies P = \$498.29[/tex]

Therefore, to have $600,000 for retirement in 30 years with 6% interest , we need to deposit $498.29 in the account each month.

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Related Questions

5. The average monthly salary among a firm's twelve employees is 3500 € There are two part-time workers in the firm who both earn 2500 €/month. If the salaries of these two part-time workers are excluded from the average, what will the new average salary be? a) 3700 € b) 4300 € c) 4000 € d) other​

Answers

Answer:

Choice a) 3700 €

Step-by-step explanation:

Total salary among 12 workers = Avg Salary x 12 = 3500 x 12 = 42,000 €

Total salary of 2 part-timers = part-time avg x 2 = 2500 x 2 = 5000

Total salary without part-timers salary= 42,000 - 5000 = 37,000 €

If we exclude the 2 part-timers, there are 10 full-timers who earn 37,000 €

So new Average Salary = 37000/10 = 3,700 €

answer: Choice a) 3700 €

if a piece of ribbon is 4 3/4 feet long, how long is it in inches? ​

Answers

The answer is 57 inches

- A certain forest covers an area of 30 square kilome-
ters. In 2018, the number of pine trees in this
particular forest was 75,000. In 2019, the number
of pine trees had decreased so that there was an
average of 2,000 pine trees per square kilometer in
the forest. What was the total percent decrease in
the number of pine trees in this forest from 2018 to
2019?
E. 20%
F.24%
G. 25%
H. 30%

Answers

Answer:

E

Step-by-step explanation:

2018 :   75 000 pines

2019 :     2000 pines / km^2  *  30 km^2 = 60 000 pines

(75 000 - 60 000) / 75 000 = .2        or 20 %  

Absolute value of 2 is

Answers

Step-by-step explanation:

|2|=2

Hope this helps !!!!

Answer:

The absolute value is 2

Step-by-step explanation:

The absolute value is defined by how far a value is from zero and it is represented by a / /

/2/ = 2

What is the selling price if cost is $18.00 and the mark up is 70% ??

show your work

Answers

The selling price if cost is $18.00 and the mark up is 70% is $30.60

What is mark  up?

The mark up means profit earned as percentage of the cost price, whereas margin means the profit is a  percentage of the selling price, in other words, the profit element to add to the cost price to derive the selling price in this case is 70% of the cost price of $18.00

profit(mark up)=70%*$18.00

profit(mark up)=$12.60

selling price=cost price+ profit(mark up)

selling price=$18.00+$12.60

selling price=$30.60

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Hazel plans to mow her neighbors' yards to earn money. She charges a base fee of $25 and $7 for every hour she mows. The amount she earns per yard can be represented by the linear function M(t) = 7t + 25. What is the value of M(2), and what is its interpretation?
a. M(2) = 39; If Hazel mows 2 yards, she will earn $39.
b. M(2) = 14; If Hazel mows 2 yards, she will earn $14.
c. M(2) = 39; If Hazel mows a yard for 2 hours, she will earn $39.
d. M(2) = 14; If Hazel mows a yard for 2 hours, she will earn $14.

Answers

The correct option is M(2) = 39; If Hazel mows a yard for 2 hours, she will earn $39 . Option C

What is a function?

A function can be defined as an expression that shows the relationship between an independent variable and a dependent variable.

Given the function;

M(t) = 7t + 25

Where;

M is the amount she earns per yardt is the time in hours

For M(2), we substitute the value of t as 2 in the function

M(2) = 7(2) + 25

M(2) = 14 + 25

M(2) = $39

This explains that the she mows the yard for t = 2 hours, she would earn $39

Thus, the correct option is M(2) = 39; If Hazel mows a yard for 2 hours, she will earn $39. Option C

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Given || m
m || n, find the value of x.

Answers

Answer:

x=142°

Step-by-step explanation:

hope it helps ⁄(⁄ ⁄•⁄ω⁄•⁄ ⁄)⁄

ANSWER:
X=124°
Hope ts helps

write the product using an exponet
(5.6)(5.6)(5.6)

Answers

Answer:  [tex](5.6)^3[/tex]

This is the same as saying (5.6)^3

===============================================

Explanation:

The base is 5.6 and it is multiplied a total of 3 times. We use an exponent of 3 to condense things down. So [tex]5.6 * 5.6 * 5.6 = (5.6)^3[/tex]

Another example: [tex]2^4 = 2*2*2*2 = \text{four copies of '2' multiplied}[/tex]

QUICK IM TIMED PLS HELP
Re arrange equation to make x the subject

X-3=4y

Answers

Answer:

Re arrange equation to make x the subject

X-3=4y

-3 will be moved to the other side of equal sign

in doing so, its sign will be be switched

so

x=4y+3

Coordinates: (-4, 4), (5, -1)
midpoint:
slope:
distance:

Answers

Answer:

Step-by-step explanation:

Compute the midpoint of the line segment with endpoints:

p_1 = (-4, 4) and p_2 = (5, -1)

The midpoint between (x_1, y_1) and (x_2, y_2) is their componentwise average:

((x_1 + x_2)/2, (y_1 + y_2)/2)

Substitute (x_1, y_1) = (-4, 4) and (x_2, y_2) = (5, -1):

= ((-4 + 5)/2, (4 - 1)/2)

-4 + 5 = 1:

= (1/2, (4 - 1)/2)

4 - 1 = 3:

Answer:  = (1/2, 3/2)

2) If x = y – 9, and y – 4 = 10, x = ?
A. -5
B. +5
C. 1
D. A and B

Answers

Answer:

the answer is B

Step-by-step explanation:

x = y - 9

y - 4 = 10

x = ?

y = 10 + 4

° y = 14

x = y - 9

= 14 - 9

✔️ x = +5

ANSWERS

y-4=10

y=10+4

y=14

sub y equ 1

x=14-9

x=+5

Find the population variance ad standard deviation
6,12,20,24,28

Answers

The population variance ad standard deviation are 64 and 8 respectively.

The variance for a population is calculated by the below steps :

1) First find the mean (the average).

2) Subtracting the mean from each number in the data set and then    squaring the result. The results are squared to make the negatives value positive

3) Averaging the squared differences.

Here, the data set of population is given as :

population difference difference²

6                  -12                   144

12                 -6                     36

20                 2                       4

24                 6                     36

28                 10                  100

₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋₋

∑ 90                                  ∑ 320

Now, the average population will be :

∑ 90/5 = 18

Now finding the variance σ² using the formula :

σ² = ∑(x- x')²/N

σ² = 320/5

σ² = 64

Now, the standard deviation σ will be :

standard deviation = √σ²

standard deviation = √64

standard deviation = 8

Therefore, the population variance ad standard deviation are 64 and 8 respectively.

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Which of the following is equivalent to sum from n equals 1 to infinity of 12 times quantity negative five eighths end quantity to the power of n question mark

-60/13
60/13
−20
20

Answers

The sum to infinity of the sequence is 96/13

Sum to infinity of a geometric sequence

Given the nth term of a geometric sequence expressed as:

Tn = Σ12(-5/8)^n

The sum to infinity of the sequence is expressed as;

S∞ = a/1-r

where

a is the first term = 12

r is the common ratio = -5/8

Substitute

S∞ =  12/1-(-5/8)

S∞ = 12/1+5/8

S∞ = 12/(13/8)

S∞ =12 *8/13

S∞ = 96/13

Hence the sum to infinity of the sequence is 96/13

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PLEASE HELP!

Anand is driving on a long road trip. He currently has 10 gallons of gas in hi
car. Each hour that he drives, his car uses up 2 gallons of gas. How much ga
would be in the tank after driving for 2 hours? How much gas would be left
after t hours?

gas left after 2 hours
gas left after t hours

Answers

Answer:

8 gallons left.......

Step-by-step explanation:

10 - 2 = 8

-6 + (-2)? What does it meanrnjrhdbr

Answers

adding a negative is the same as subtracting a positive

the expression -6+ (-2) is the same as -6-2 which is -8

Which angles in the picture are NOT adjacent?
A. ∠2 and ∠3
B. ∠3 and ∠4
C. ∠1 and ∠2
D. ∠1 and ∠3

Answers

Answer:

D. ∠1 and ∠3

Hope this helps!

Answer:

1 and 3 or also known as D

Step-by-step explanation:

i took the test and got it right

16. The formula A = r² can be used to find the area of a circle. Solve the equation for r.
a. r=A-2n
b. r = √A - T
C. r=
d.)r =
A
A
211

Answers

Swap the sides of the equation

2
r' =a

Take the square root of both sides of the equation and remember to use both positive and negative roots

Please HELP ME I need help on this final question

Answers

1 and 2 are right because one has adjacent. 2 vertical angles. Vertical angles mean the same plane and adjacent means two sides of an X.

Rob and Lila try to simplify 18 x 42 + (9 – 3)2. Rob simplifies the expression and gets 360. Lila ​simplifies it and gets 324. Which student is correct? What error did the other student make?

Answers

The result of the expression, 18 x 4² + (9 – 3)² after simplification is 324.

What is an expression?

An expression can be defined as the combination of variables and constants with two or more operations applied to it. The operation can be addition, subtraction, multiplication and division.

Simplifying the expression

The given expression is 18 x 4² + (9 – 3)²

Using the BODMAS rule, we get,

= 18 x 4² + (6)²

= 18 × 16 + 36

= 288 + 36

= 324

Lila estimated it right.

The mistake that Rob might have made would be that he must have not solved (9 – 3)² the right way and gained the wrong answer.

Hence, the result of the expression, 18 x 4² + (9 – 3)² after simplification is 324.

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A nation can produce two products: tanks and autos. The table below is the nation's production possibilities schedule.
Production Possibilities
Product
Tanks
The total opportunity cost of three unit(s) of tanks is
A
0
1000
B
1
950
C
2
850
D
3
650
E
4
350
F
5
0

Answers

Using the it's formula, the total opportunity cost of three unit(s) of tanks is of 350 autos.

What is the opportunity cost formula?

The opportunity cost formula is given by:

C = F - A.

In which:

F is the best return.A is the actual return.

For this problem, we have that:

When no tanks are produced, 1000 autos can be produced, hence F = 1000.When 3 tanks are produced, 650 autos can be produced, hence F = 650.

Thus:

F = 1000 - 650 = 350.

The total opportunity cost of three unit(s) of tanks is of 350 autos.

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If the end behavior is decreasing to the left ,what might be true about the function

Answers

Answer:

As the input gets smaller, the output gets smaller.

Step-by-step explanation:

If m is one sixth of n and p is five less than m, write a p as a function of n

Answers

p = (n - 30)/ 6 as a function of n.

Here we need to find the value of p in terms of n.

From the question, we have two equation

The first equation is:

   m = 1/6n .......(1)

The second equation is:

    p = m - 5.......(2)

From equations 1 and 2 we have to find the value of p in term of n.

So by putting the value of m in the second equation we have:

p = 1/6n - 5

  = (n - 30)/6

Therefore we get the value of p as (n -30)/6 in terms of n.

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What the slope of the line on the graph please help me

Answers

Answer: Slope = 7/6

Step-by-step explanation:

solve the equation secx=2 on interval[0,2pie)

Answers

The threes solutions to the given equation sec²x - secx = 2 are:

[tex]x_1=\frac{\pi}{3} ; \quad x_2=\frac{5 \pi}{3} ; \ x_3=\pi[/tex]

What exactly are equations?An equation is a statement composed of two expressions joined by an equal sign. An equation is 3x - 5 = 16. By solving this equation, we obtain the value of the variable x as x = 7.

To solve: sec²x - secx = 2 on interval [0,2[tex]\pi[/tex])

When we set t = sec x, we get the quadratic equation:

[tex]t^2-t-2=0[/tex]Which has the solutions: [tex]t_1=2 ; \quad t_2=-1[/tex]

As a result, we must seek solutions to the equations:

[tex][1] \sec x=2: \quad \cos x=\frac{1}{2} \rightarrow x_1=\frac{\pi}{3} ; \quad x_2=\frac{5 \pi}{3} ;$\\\text { [2] } \sec x=-1: \quad \cos x=-1 \rightarrow x_3=\pi ;[/tex]

Therefore, the three solutions are:

[tex]x_1=\frac{\pi}{3} ; \quad x_2=\frac{5 \pi}{3} ; \ x_3=\pi[/tex]

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The correct question is given below:
solve the equation sec²x - secx = 2 on interval [0,2[tex]\pi[/tex])

Annie runs in the park every 3 days. Ron runs in the park every 5 days. They both ran on 1 January. How many more times will they run in the park on the same day up to the end of February?​

Answers

Answer:

Step-by-step explanation:

annie runs in park = every 3 days

ron runs in park = every 5 days

lets find LCM of 3 and 5 = 3*5 = 15

if they ran on 1st of January then they will meet again on on 15th January , will again meet on 30th of January and will again meet on 14 February . if is was a leap year they would again meet at 29th February .

14. Which expression shows the sum of 30 and 45 as the product of th and a sum of two numbers with no common factor? A) 5(6 + 9) B 15(2+3) C 15(15 +45) D 90(2+3)​

Answers

B because 15 is the common factor

Two cyclists, 30 miles apart, start riding toward each other at the same time. One cycles 2 times as fast as
the other. If they meet 2 hours later, what is the speed (in mi/h) of the faster cyclist?
a. Write an equation using the information as it is given above that can be solved to answer this problem.
Use the variable r to represent the speed of the slower cyclist.
b. What is the speed of the faster cyclist?
mi/hr

Answers

The equation as r + 2 r = 30 miles / 2 hours and the speed of faster cyclist as 10 miles per hour.

We are given that:

The distance between the two cyclist = 30 miles.

Now let the speed of one cyclist be x miles / hour.

Speed of other cyclist = 2 x miles / hour.

Now, 2 hours later they meet.

Distance covered by 1st cyclist in 2 hours = 2 x

Distance covered by 2st cyclist in 2 hours = 4 x

Equation will be:

2 x + 4 x = 30 miles

6 x = 30 miles

x = 5 miles.

Equation for the cyclist in terms of r will be :

r + 2 r = 30 miles / 2 hours

Speed of faster cyclist = 10 miles per hour.

Therefore, we get the equation as r + 2 r = 30 miles / 2 hours and the speed of faster cyclist as 10 miles per hour.

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PLS HELP PLS I DON'T WANT TO FAIL PLEASE HELP PLEASE 20 POINTS

Answers

Answer:

653209

Step-by-step explanation:

Because i did this already

refer to the image please!!

Answers

[tex]{ \qquad\qquad\huge\underline{{\sf Answer}}} [/tex]

Here we go ~

Value of g (x) is -2, when :

[tex]\qquad \sf  \dashrightarrow \: - 2.5 < x \leqslant - 1.5[/tex]

And since -2 lies in this range of x,

[tex]\qquad \sf  \dashrightarrow \:g( - 2) = - 2[/tex]

Value of x is -1, when :

[tex]\qquad \sf  \dashrightarrow \: - 1.5 < x \leqslant - 0.5[/tex]

And -0.5 falls in this range, hence

[tex]\qquad \sf  \dashrightarrow \:g( - 0.5 ) = - 1[/tex]

Next, The value of x is 0 when :

[tex]\qquad \sf  \dashrightarrow \: - 0.5 < x < 0.5 [/tex]

But, it isnt equal to 0.5, since there is open interval at both extremes.

Next, Value of x is 1, when :

[tex]\qquad \sf  \dashrightarrow \:0.5 \leqslant x < 1.5[/tex]

And since it also has the value 0.5 included in it,

[tex]\qquad \sf  \dashrightarrow \:g(0.5) = 1[/tex]

Which point is part of the intersection of planes ACD and MHG?

Answers

A point that is part of the intersection of planes ACD and MHG is: Point B.

How to Find the Points of Intersection of Planes?

A plane has at least three points that lie on it. When two planes intersect, they do so at some certain points. This means that two intersecting planes share some points in common alone the line of their intersection.

In the diagram given, plane ACD and plane MHG intersect along line BA. This means that both planes share points A and B in common.

Therefore, we can state that a point that is part of the intersection of planes ACD and MHG is: Point B.

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