You want to have $150,000 in your retirement account when you retire in 30 years. Your retirement account earns 7%
interest. How much do you need to deposit each month to meet your retirement goal?
Round your answer to the nearest cent.
Do NOT include the dollar sign.

Answers

Answer 1

Answer: 123.05

Use annuity formula

Answer 2

Answer:

Step-by-step explanation:

Since we're talking about making a deposit of a certain amount every month rather than just one big deposit, we are talking about an annuity. The formula for the value of an annuity is A(t)=d[(1+rn)nt−1](rn) where A(t) is the value of the annuity, d is the amount of each deposit, n is the number of deposits per year, t is the number of years, and r is the rate of interest. In this case we know we want the value of the annuity to be A(t)=$150,000, we want to make deposits every month, or 12 times a year, so n=12, we want to reach our desired value in 30 years, so t=30, and our account earns 7% interest, so r=0.07. We can plug in all of these values and solve for d to find the amount we need to deposit each month:

A(t)150,000150,000150,000d=d[(1+rn)nt−1](rn)=d[(1+0.0712)12⋅30−1]0.0712≈d[(1.00583)360−1]0.00583≈1,219.97d≈122.95

The amount you need to deposit each month is approximately $122.95.


Related Questions

.......,,,,,,;,,.,.........

Answers

Answer:

lol dababy ur my idol

Step-by-step explanation:

84b /32b

3b

Answer:

3b^2

Step-by-step explanation:

12b^7 / 4b^5  

=12b^7/ 4b^5

=12b^2/4

=3b^2


PLEASE HELP , DONT SKIP !

NO LINKS OR FILES.

Answers

Step-by-step explanation:

You have to click the number of Xs for each kilometer travelled. For example, there are 2 "3 km" answers, so under the 3 column, you click 2 Xs.

Andrew is shooting arrows at a target.
The experimental probability that one will hit a bulls eye is 1/4. If he shoots 60 arrows, how many times can he expect to hit a bulls eye?

Answers

Answer:

15

Step-by-step explanation:

60/4 = 15

So, Andrew would probably hit a bullseye 15 times.

what is importance of banks to ecomics​

Answers

Answer:

They do transactions from such a large distance

Step-by-step explanation:

Banks make it far easier for a complex economy to carry out the extraordinary range of transactions that occur in goods, labor, and financial capital markets. Banks are a critical intermediary in what is called the payment system, which helps an economy exchange goods and services for money or other financial assets.

ery Test
1
Select the correct answer.
Who is a consumer?
OA.
a person who buys items in a store
OB.
a person who owns a store
O C.
a person who works at a store

Answers

À because a consumer is the customer so your answer would be A

Please help! Find the perimeter of Trapezoid ABCD. (round your answer to the nearest tenth.)

Answer + explanation please!

Answers

Answer:

19.8 units

Step-by-step explanation:

BC = 5

AD = 8

CD = 1²+3²=c²

1+9=c²

√10=c

c=3.1627766

AB = 2²+3²=c²

4+9=c²

√13=c

c=3.6

5+8+3.6+3.16=19.76


Kacie has a bag of
pretzels. She eats 1/3 of
the bag and gives 1/2 of
the bag to her brother.
How much of the bag
does she have left?

Answers

Answer: .

Step-by-step explanation:

1.4
2
Lawrence wants to drive from Durban to Johannesburg 550 km. if he travels at
an average speed of 100 km/hr, how long does he tale to get there?
If he leaves at 08:42 what time will he arrive at his destination
1.5
2

Answers

Answer:

5 hr 30 minutes

2:12 pm

Step-by-step explanation:

s= 550km

v = 100km/hr

t = ?

SPEED = DISTANCE/ TIME TAKEN

or, v = s/t

or, 100km/hr = 550km/ t

or, t = 550/100

t = 5.5

t = 5 hrs 30 minutes

8:42

+5:30

13 :72

which is 14 :12 = 2 :12

Hellpppppppppppppppppppppppppppppppppppppppp

Answers

Answer:

._.     -_-     -.-    .-.   --__--

Step-by-step explanation:

Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. The seller announced that the highest bid in excess of $10,200 will be accepted. Assume that the competitor's bid x is a random variable that is uniformly distributed between $10,200 and $14,500.
a. Suppose you bid $12,000. What is the probability that your bid will be accepted?
b. Suppose you bid $14,000. What is the probability that your bid will be accepted?
c. What amount should you bid to maximize the probability that you get the property?
d. Suppose you know someone who is willing to pay you $16,000 for the property. Would you consider bidding less than the amount in part (c)? Why or why not?

Answers

Answer:

0.4185;

0.8835;

$14500;

No

Step-by-step explanation:

Given that :

a = 10200

b = 14500

f(y) = 1 /(b - a) = 1/(14500 - 10200) = 1/4300 = 0.0002325

A.)

P(x <12000) = ∫fydy at(12000 ; 10200) = ∫0.0002325dy at(12000 ; 10200)

P(x < 12000) = 0.0002325(12000) - 0.0002325(10200) = 0.4185

B.)

P(x <14000) = ∫fydy at(14000 ; 10200) = ∫0.0002325dy at(14000 ; 10200)

P(x < 14000) = 0.0002325(14000) - 0.0002325(10200) = 0.8835

(c.) 14500 ; because competitor's bid is at most 14500

D.) No ; Because by bidding $14500 ; getting the property is certain ; once the property is gotten, then it could be resold for $16000, to make a profit of $1500 ; by bidding less, winning the bid becomes uncertain which may means the profit might be lost in the long run.

James invests $5400 in two different accounts. The first account paid 14 %, the second account paid 6 % in interest. At the end of the first year he had earned $580 in interest. How much was in each account?

Answers

Given:

Total invested amount = $5400

Rate of interest for first account = 14%

Rate of interest for second account = 6%

Total interest after one year = $580

To find:

The amount invested in each account.

Solution:

Let the amount invested in the first account be $x, then the amount invested in the second account is $(5400-x).

Total interest = 14% of $x + 6% of $(5400-x).

[tex]580=\dfrac{14}{100}x+\dfrac{6}{100}(5400-x)[/tex]

Multiply both sides by 100.

[tex]58000=14x+6(5400-x)[/tex]

[tex]58000=14x+32400-6x[/tex]

[tex]58000-32400=8x[/tex]

[tex]25600=8x[/tex]

Divide both sides by 8.

[tex]\dfrac{25600}{8}=x[/tex]

[tex]3200=x[/tex]

Now,

[tex]5400-x=5400-3200[/tex]

[tex]5400-x=2200[/tex]

Therefore, the amount invested in first account is $3200 and the amount invested in the second account is $2200.

What is the area of the polygon below?
A. 120 square units
9
10
B. 174 square units
16
C. 66 square units
12
D. 84 square units

Answers

Answer:

D

Step-by-step explanation:

12-9 = 3 square unit

10 x 3 = 30 square unit

9×6 = 54 square unit

54+30 = 84 square units

and thats the answer

The area of the polygon is 84 square units, option D is correct.

What is Area of Rectangle?

The area of Rectangle is length times of width.

The given polygon has two rectangles.

Area of rectangle with length 9 and width is 6 units

Area of rectangle 1 =9×6

=54 square inches

Now Area of rectangle with length 10 and width is 3 units

Area of rectangle 2 =10×3

=30 square inches

Total area = 54+30

=84 square units

Hence, the area of the polygon is 84 square units, option D is correct.

To learn more on Area click:

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Use 3.14 for it, and do not round your answer. Be sure to include the correct unit in your answer.

Answers

Answer:

Circumference=25.13 Area=50.27

if d is 55 degrees then what is F and E degrees. Explain how you know​

Answers

Answer:

F=55

E=70

Step-by-step explanation:

The total degree of a triangle is 180.

So we have 180-55*2

E=180-110

E=70

Aidans hourly salary is $11. If Aidan normally works a 40 hour week , then how much is normally earned in a week?

Answers

Answer:

$440

Step-by-step explanation:

40x11=440

hope it helped

plz mark me as brainliest.

Can you guys help me real quick please

Answers

Answer: I believe the answer is 23k.

Step-by-step explanation:

HELP PLEASE!!! I need to name each angle

Answers

Answer:

XWZ and ZWX are the only ways to label this angle

Step-by-step explanation:

1. Determine the three-dimensional figure that will be created using the following nets.

Answers

Answer:

The figure is a triangular prism

Step-by-step explanation:

it's bc the bases are triangles

A triangular prism is a three-sided prism consisting of a triangular base, a translated duplicate, and three faces connecting similar sides. The given net will form a triangular prism.

What is a triangular prism?

A triangular prism is a three-sided prism consisting of a triangular base, a translated duplicate, and three faces connecting similar sides. A right triangular prism has rectangular sides and is oblique otherwise.

A triangular prism is a three-sided prism consisting of a triangular base, a translated duplicate, and three faces connecting similar sides. The given net will form a triangular prism.

Learn more about Triangular Prism:

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Use the figure below to complete the sentence.
B
A
E
39°
o
BGC and ZFGE are (select)
angles, so mZFGE =

Answers

Answer:

<BGC and <FGE are vertical angles

<BGC=90°-42°=48°

So m<FGE=48°

Hope it helps...

The length of segment GI is 8. True or false?

Answers

Answer: false

Step-by-step explanation: that’s what my teacher told me sorry if it’s wrong

Answer:

It is false

Definetely false

A contractor is building a fence around a square garden that has a side length of 3 inches in a scale drawing. The scale factor of the drawing is 1 1/2 inches : 4 feet. If one link of fence measures 2 2/3 feet, shade the correct number of links needed to build a fence around the entire garden ​

Answers

The number of fences needed to build around the entire garden is 12.

What is a square?

A square is a two-dimensional figure that has four sides and all four sides are equal.

The area of a square is given as side².

We have,

Side of the square garden = 3 inches

Scale factor.

1(1/2) inches = 4 feet

3/2 inches = 4 feet

3 inches = 8 feet

Now,

Length of one fence.

= 2(2/3) feet

= 8/3 feet

Now,

The perimeter of the square.

= 4 side

= 4 x 3 inches

= 12 inches

= 4 x 8 feet

= 32 feet

Now,

The number of fences needed to build the fence around the garden.

= 32 ÷ 8/3

= 32 x 3/8

= 12 fences

Thus,

12 fences are needed to cover the entire garden.

Learn more about squares here:

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Verify a - (- b) = a + b for the following values of a and b.
() a = 23, b = 14
(ii) a = 128, b = 105

Answers

23 - (-14) = 23 + 14 = 37

128 - (-105) = 128 + 105 = 233

Add 1/4+9/14+6/7. Simplify the answer and write it as a mixed number.

Answers

Answer:

In words - thirty-nine ninths minus twenty-five ninths = fourteen ninths.

Brainliest for correct answer

Answers

Answer:

4

Step-by-step explanation:

The pre-image is the starting coordinates and it then gets larger. when you multiply four by 3 you get 12 and when you multiply four by -4 you get 16. So the pre-image dilated by 4.

Dan has save 3200 cents from selling lemonade how many dollars does DAn have

Answers

Answer:

$32

Step-by-step explanation:

a dollar is 100 cents. so simply sake away the two zeros at the end.

Answer:

$32

Step-by-step explanation:

the answer is thirty two dollars because a dollar is 100 cents and 3200 ÷ 100 =32

Please please please help I will mark you brainiest

Answers

Answer: b then!

Step-by-step explanation:

A small box measures 7 in. by 10 in. by
3/4 in. high. Find the volume of the box.

Answers

Answer:

Volume = 52.5

Step-by-step explanation:

volume of a rectangular 3d shape can be calculated by length*width*height. In this case:

7*10*0.75 = 52.5

It is desired to check the calibration of a scale by weighing a standard 10-gram weight 100 times. Let μ be the population mean reading on the scale, so that the scale is in calibration if μ = 10 and out of calibration if μ ≠ 10. A test is made of the hypotheses H0 : μ = 10 versus H1 : μ ≠ 10. Which of the three conclusions is best if H0 is rejected?

Answers

Complete question :

It is desired to check the calibration of a scale by weighing a standard 10 g weight 100 times. Let µ be the population mean reading on the scale, so that the scale is in calibration if µ = 10. A test is made of the hypotheses H0:µ = 10 versus H1:µ ≠ 10. Consider three possible conclusions: (i) The scale is in calibration, (ii) The scale is out of calibration, (iii) The scale might be in calibration.

Which of the three conclusions is best ifH0 is rejected?

Answer:

The scale is out of calibration

Step-by-step explanation:

The null hypothesis ; H0

H0 : μ = 10 ; if this hold true, then the scale is in calibration

Alternative hypothesis ; H1

H1 : μ ≠ 10 ; if this holds true, then the scale is out of calibration

If the Null hypothesis, H0 is rejected, it means that, there is significant evidence to support the alternative hypothesis ; that the scale is out of calibration.

Hence, the best conclusion is that, the scale is out of calibration.

Solve the system by Graphing

Answers

Step-by-step explanation:

Which of the following statements about opposites is true? Choose all correct answers.
A. The opposite of 5 is −5.
B. −(−8)=−8
C. The opposite of 0 is 0.
D. −(−2)=2

Answers

Answer:

A

Step-by-step explanation:

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