You recently discovered that your job provides a 25% matching towards your retirement.
If you deposit $300 each month into a retirement account with an APR of 8.99%, what
would you type in Excel to find the balance after 30 years?

Answers

Answer 1

Answer:

What is typed in the attached Excel file is =FV(B4,B5,-B3,0,0).

Step-by-step explanation:

Note: See the attached excel file for the calculation of future value of an ordinary annuity.

Since we want to find the balance after 30 years, the function in the Excel is the FV function which is used to calculate the future value (FV) of an ordinary annuity as follows:

=FV(rate,nper,-pmt,0,0) …………………… (1)

rate = Monthly interest rate = APR / 12 = 8.99% / 12 = 0.0899 / 12 = 0.00749166666666667. Note: This is typed in cell B4 in attached excel file.

nper = periods = number of months = 30 years * 12 months = 360. Note: This is typed in cell B5 in attached excel file.

pmt = monthly payment = $300. Note: This is typed in cell B3 in the attached excel file. And also typed as a negative value in cell B7, i.e. as -B3.

pv = present value = 0. Note: This is the first 0 typed in cell B7 in the attached excel file.

type 0 = 0 this is typed to indicate that deposit is made at end of period as a regular or ordinary annuity. This is the second 0 typed in cell B7 in the attached excel file.

Based on the above, the FV function in equation (1) above is converted to the following which is typed in the attached Excel file to find the balance after 30 years:

=FV(B4,B5,-B3,0,0)

The above then gives a future value of $548,080.11 which is  the balance after 30 years.


Related Questions

Steps for solving rational equations

Answers

Answer:

1. Find the common denominator.

2. Multiply everything by the common denominator.

3. Simplify.

4. Check the answer(s) to make sure there isn't an extraneous solution.

Step-by-step explanation:

Hope this helps!

The steps for solving rational equations will be to take common factors and simplify the equation.

What are the steps for solving rational equations?

A rational equation, abbreviated as P(x) / Q(x), is one that has at least a single fraction with polynomials as the numerator and denominator. Q(x) / P(x). These integers might be on either end of the equation or sometimes both.

The steps are given below.

Discover the common factor.Divide everything by the lowest common factor.Simplify the equation.Verify the response(s) to verify sure there isn't a redundant response.

The steps for solving rational equations will be to take common factors and simplify the equation.

More about the steps for solving rational equations link is given below.

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Which scenario could be represented by this graph?

Answers

Your correct answer is 100% : C

Hope this helps you

The scenario that could be represented by this graph is option: 3.

What is the rate of change of height?

The rate of change of height represents the change in height with time.

Here, the given graph represents:

For some time the water level of the Humpy Dam doesn't change.

After a heavy rain spell, the water level rises, increasing at a constant rate.

After the rain subsides, it levels off again.

Here, the x-axis represents time and the y-axis represents the height of the water behind the dam.

The water height behind the dam was constant for a certain period. After rainfall, the height of the water increased at a constant rate. When the rain stopped, the water height behind the dam is constant at a newer height.

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I need help ASAP (10 points) I checked and the only information I got was that x=8 I don’t know how to get the answer 8

Answers

Answer:

x=8

Step-by-step explanation:

This is a congruent triangle. If we use Pythagorean theorm, we can see that 3^2+y^2=25

y^2= 16

y=4

(y is the base of the small triangle)

and since the big triangle and the small triangle are congruent(the ratios are the same), 3 is half of 6, and so the base of the small triangle is half of the big triangle's.

4*2=8

x=8

Four friends are going to split the cost of a pizza. If p stands for the cost of the pizza, which of the following expressions could represent what each friend will pay?

4p
p-4
p/4
p​

Answers

Answer:

p/4

Step-by-step explanation:

It is that because we are splitting, which is division.

So, P is the cost and 4 is how many

Simply, p/4

hope it helped!  

Answer:

p/4

Step-by-step explanation:

This is right on oddy, hope it helps!

What is the area of the figure?

A. 36 cm2
B. 26 cm
C. 15 cm
D. 42 cm2

Answers

Answer:

Sorry to break it to ya but the other answer is wrong and the correct answer is A. 36 cm^2

Step-by-step explanation:

1. Divide the figure into 2 figures.

2. Calculate the first figure by multiplying the length (7 cm) and width (4 cm).

3. After that, we get 28. Do the same to the other figure. (4 cm x 2 cm = 8 cm).

4. Combine the 2 areas to get your total area. (28 + 8 = 36 cm^2).

5. NEVER forget the "^2" meaning squared when calculating the area.

Hope this helps, have a good day/night. :)

A rectangle is a two-dimensional shape where the length and width are different.

The area of a rectangle is given as:

Area = Length x width

The area of the figure is 36 cm².

What is a rectangle?

A rectangle is a two-dimensional shape where the length and width are different.

The area of a rectangle is given as:

Area = Length x width

Example:

The area of the rectangle with a length of 3 cm and wide 5cm is 15 cm².

We have,

A figure.

The figure has two rectangles.

One rectangle:

Length = 4 cm

Wide = 7 cm

Area of the rectangle = 4 x 7 = 28 cm²

Another rectangle:

Length = 2 cm

Wide = 4cm

Area of the rectangle = 2 x 4 = 8 cm²

The area of the figure.

= 28 + 8

= 36 cm²

Thus,

The area of the figure is 36 cm².

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A merchant instructs his agent to buy 1,000 micro tip pens and sell them at 15% above the purchase price. the agent charges 1% commission on the purchase and 3% commission on sales and earns Rs.534/- as commission.find the price and which the agent buys the pen​

Answers

Answer:

Thank you and please rate me as brainliest as it will help me to level up

The price of the pen is "12", and the cost price of 1000 pens is "12000".

Calculating the price of the pen:

Assume the number of Pens[tex]= x[/tex]

commission price of 1000 Pens[tex]=1000 x[/tex]

The selling price of Pens:

  [tex]=\frac{1000\times 115x}{100}\\\\ ={10\times 115 x}{}\\\\= 1150x[/tex]

Commission price on Purchase:

[tex]= \frac{1000\times 1 x}{100}\\\\= \frac{10\times 1 x}{1}\\\\= 10x[/tex]

commission price on sales:

[tex]=\frac{1150x \times 3}{100}\\\\=\frac{115 x \times 3}{10}\\\\=\frac{345 x }{10}\\\\=34.5\ x[/tex]

Calculating the total commission:

[tex]\to 10x+34.5x=44.5x=534\\\\\to 44.5x=534\\\\\to x = \frac{534}{ 44.5}=12[/tex]

Therefore, the agent buys a pen at 12 rupees and the cost price of 1,000 pens is 12000.

Learn more about the commission price here:

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In 8 hours, Raina reads 56 chapters of a book.
What is her rate in chapters per hour?

Answers

Answer:

7

Step-by-step explanation:

(Angle relationships) solve this question.

Answers

Answer:

21

Step-by-step explanation:

Old Navy is having a sale for the summer they are selling for shirts for $23 what is the price per share at the store

Answers

Answer:

5 dollars and 75 cents.

Step-by-step explanation:

I think you mean 4 shirts are 23$? If so ,you would divide 23 by 4 to get how many dollars is 1 shirt. 23/4 = 5.75

Find the value of K. The diagram is not to scale. Explain your answer.

Answers

Answer:

639 lo hago para conseguir puntos ;V

Step-by-step explanation:

each year lizza school purchased agenda books, which are sold in the school this year the school purchased 350 books at a cost of 1,137.50 if the school would like to make a profit of 1,500 to pay for field trips and school activities, what is the least amount they can charge for each agenda book

Answers

Old price: 1,137.50 / 350 = 3.25
New price (at least): 1,500 / 350 = 4.3 (result is rounded)

Solve (t-3)^2=6. The arrow is at a height of 48ft after approximately ____s and after ___s

Answers

Answer:

s - t = 3. s/3 + t/2 = 6

Step-by-step explanation:

Answer:

0.55 & 5.45

Step-by-step explanation:

EDGE VERIFIED

Please Hurry
The graph shows the savings in Andre’s bank account.

What is the slope of the line?

What is the meaning of the slope in this situation?

Answers

Answers:

Slope = 5

Interpretation = Andre is saving 5 dollars per week

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

Work Shown:

The two points (0,40) and (4,60) are on the line

Use the slope formula

m = (y2-y1)/(x2-x1)

m = (60-40)/(4-0)

m = 20/4

m = 5

The slope is 5.

In this context, it means each time the number of weeks goes up by 1, the amount of his savings goes up by 5. In short, he's saving $5 per week.

note: the y intercept tells us that Andre started off with $40 in his account.

The slope is 5 in  slope-intercept form.

What is in slope-intercept form?

Y = mx + b, which defines a line, is an equation's slope-intercept form.When a line is graphed, its slope, m, and its point of intersection with the y-axis, b, also known as the y-intercept, are shown.To find answers for x, y, m, and b, utilize slope intercept form.

the y intercept tells us that Andre started off with $40 in his account.

Slope = 5

The two points (0,40) and (8,80) are on the line

Use the slope formula

Take any two points

m = (y2-y1)/(x2-x1)

= 80-40/8-0

= 40/8

=5

The slope is 5.

In this context, it means each time the number of weeks goes up by 1, the amount of his savings goes up by 5. In short, he's saving $5 per week.

Learn more about slope-intercept form

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Mrs. Chin paid a 20 percent tip on the bill for lunch.

Percents
Total
20%
20%
20%
20%
20%
100%
$2.75
$2.75
$2.75
$2.75
$2.75


If the tip amount was $2.75, what was the bill for lunch before the tip was added to it?
$5.50
$13.75
$16.50
$55.00

Answers

Answer:

The bill before the tip was $13.75 if you add a 20% tip of $2.75 the total bill including the tip would be $16.50

The bill before the tip is $13.75

Answer:

Answer is B  hope it helps

Step-by-step explanation:

plssss i need help rn ​

Answers

Answer:

3

Step-by-step explanation:

(x₁ , y₁) = (-1 , -2)   &    (x₂ , y₂) = (3 , 10)

[tex]Slope =\frac{y_{2}-y_{1}}{x_{2}-x_{1}}[/tex]

         [tex]= \frac{10-[-2]}{3-[-1]}\\\\=\frac{10+2}{3+1}\\\\=\frac{12}{4}\\\\=4[/tex]

m  = 4

y - y₁ = m (x - x₁)

y - [-2] = 4(x - [-1])

y + 2 = 4(x + 1)

y + 2 = 4x + 4

    y = 4x + 4 - 2

    y = 4x + 2

Apples cost $1.89 per pound. What equation shows the relationship between total cost (t), price (p), and pounds purchased (n)?

1.89 = nt

n⁄t = 1.89

1.89t = n

t = 1.89n

Answers

Answer:

[tex]t(n) = 1.89n[/tex]

Step-by-step explanation:

From the given information

'p' denotes 'price per pound'

i.e. p = 1.89

'n' denotes the 'number of pounds purchased' 't' denotes the 'total cost '

Therefore, the equation becomes

[tex]t(n) = pn[/tex]

as

[tex]p=1.89[/tex]

so

[tex]t(n) = 1.89n[/tex]

Verification:

If you want to purchase 1 pound apple

i.e.

[tex]n=1[/tex]

Total cost would be:

[tex]t(1) = 1.89 (1)[/tex]

t = $1.89 per pound

Please Hurry
The graph shows the savings in Andre’s bank account.

What is the slope of the line?

What is the meaning of the slope in this situation?

Answers

Show us the graph please then I’ll be able to help

Answer:

Here is the graph

Step-by-step explanation:

Sidra is building a birdhouse. She drills a hole with a drill bit and tries to find a corresponding screw. The 1/4 inch screw is too big, and the 1/8 inch screw is too small. Which of the following could be the size of the drill bit Sidra used? 1/2 inch, 3/16 inch, 5/16 inch, 4/32 inch, or 8/32 inch

Answers

3/16
1/8 < x < 1/4
1/2 > 1/4 so 1/2 is wrong
If we multiply both top and bottom of 1/4 by 4 we get 4/16 which is less than 5/16 so 5/16 is wrong
4/32 can be simplified to 1/8 which is given to be too small so 4/32 is wrong
8/32 can be simplified to 1/4 which is given to be too big so 8/32 is wrong

In 2008, there were 507 children in Arizona out of 32,601 who were diagnosed with Autism Spectrum Disorder (ASD) ("Autism and developmental," 2008). Find the proportion of ASD in Arizona with a confidence level of 99%.

Answers

Answer:

The 99% confidence interval for the proportion of ASD in Arizona is (0.014, 0.018).

Step-by-step explanation:

The information provided is as follows:

[tex]x=507\\n=32601\\\text{Confidence level }=99\%[/tex]

The sample proportion is:

[tex]\hat p=\frac{x}{n}=\frac{507}{32601}=0.016[/tex]

The critical value of z for 99% confidence level is, z = 2.56.

Compute the 99% confidence interval for the proportion of ASD in Arizona as follows:

[tex]CI=\hat p\pm z_{\alpha/2}\cdot\sqrt{\frac{\hat p(1-\hat p)}{n}}[/tex]

    [tex]=0.016\pm 2.58\cdot\sqrt{\frac{0.016(1-0.016)}{32601}}\\\\=0.016\pm 0.0018\\\\=(0.0142, 0.0178)\\\\\approx (0.014, 0.018)[/tex]

Thus, the 99% confidence interval for the proportion of ASD in Arizona is (0.014, 0.018).

what is x-(3)/(5)=(5x)/(6)? with steps answer fast

Answers

hi

x- 3/5 =  5x/ 6  

6x - 18/5 =  5x

6x -5x =  18/5

     x = 18/5

   

let's check :      18/5 - 3/5 =  15/5 = 3

                         5 * 18/5   / 6  =    18/6 = 3

result is correct.

Can someone please tell me if I got this right or wrong? I’ll give brainliest
Please be honest

Answers

Answer:

yes your answer is correct

Step-by-step explanation:

Please help please help

Answers

Answer:

b

Step-by-step explanation:

cause if you divided 5 by 4 you'd get 1.25 then times that by 8 it'll give you 10 thus the answer is b

a) Kenyans went elections and they had to choose between three coalitions; Jubilee
Cord and Amani. They must choose one, if they have no preference, can choose
all the three or, if against one option, they choose for the two they prefer. A
sample of 200 voters revealed the following information
30 chose Jubilee and Amani but not Cord
130 chose Cord only
102 chose Amani only
30 chose Jubilee and Cord
234 chose for either Jubilee or Cord, or both Jubilee and Cord, but not Amani
256 chose for either Cord or Amani, or both Cord and Amani, but not Jubilee
How
many
students chose
i) All the three options
(2 marks
ii) Only one option
(2 marks
iii) Jubilee irrespective of Cord or Amani
(2 marks​

Answers

Answer:

iii is right..................

Which equation represents a linear function?
Group of answer choices

y – 5 = x(–x + 2)

y – 5 = x – 20

y(x – 1) = 9

y(y – 1) = x + 25

Answers

The 3rd one I’m pretty sure. LET ME KNOW IF ITS RIGHT!

Please help with the problem in the picture ^ I’ll give brainliest if you give me a small explanation! :)

Answers

Answer:

x=16 because the proportional size, this also means that if the -84 becomes 16 in proportion size.

Jan raised $120.75 at the car wash. If each wash costs $5.75, how many cars did she wash?

Answers

Answer:

She washed 21 cars

Step-by-step explanation:

Answer:

Jan washed 21 cars

Step-by-step explanation:

120.75 / (Divided) 5.75=21

If you were to times 5.75 by 21 you will get the amount she rasied at the car wash

At the restaurant, the cost of the meal before tax was
$40. The tax is 8.5%, and Sheri wants to leave at least
an 18% tip. Explain how to approximate the total cost of
the meal.

Answers

Answer:

This comes out to around 25 percent. Simply multiply 40 by 1/4 to get 10 dollars.

Step-by-step explanation:

Answer:

Step-by-step explanation:

40x0.085=3.4

40+3.4= 43.4

43.4x0.18=7.8

43.4+7.8=51.212$

Cindy wants to buy new jeans. She already has $40 in her savings account. If she puts $2 a week in her savings account, she wants to know how many weeks she must save to have at least $80. Which inequality matches the situation?

Answers

Answer: 21 weeks. i counted it up

Step-by-step explanation: so its

What is an equation with a slope of 2 that passes through (-8,0)

Answers

1) y=Mx+b

2) substitute the values: 0= -8x2 + b

3)multiply: 0= -16 +b

4) add 16 to both sides : 16= b

5) b is your y int. Plug in the values y=2x + 16

Answer : y= 2x+ 16

Lin runs 5 laps around a track in 6 minutes. How many minutes per lap is that?

Answers

Answer:

one minutes and 12 seconds

Step-by-step explanation:

mark me brainliest.

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