To have $400,000 for retirement in 25 years with an annual interest rate of 6% compounded annually, Thurston must invest $93,171.77 today.
Explanation:Thurston must calculate how much he needs to invest today to have $400,000 when he is 80 years old, given that he is currently 55 years old and the investment will yield 6% interest compounded annually. To find this amount, we use the formula for the present value of a lump sum, which takes into account the future value desired, the interest rate, and the number of compounding periods. The formula is:
PV = FV / (1+r)n
Where PV is the present value, FV is the future value, r is the annual interest rate, and n is the number of years until retirement.
In Thurston's case:
FV = $400,000 (the amount he needs for retirement)r = 0.06 (6% interest rate)n = 80 - 55 = 25 years (number of years until retirement)Plugging these values into the formula gives us:
PV = $400,000 / (1+0.06)25
PV = $400,000 / (1.06)25
PV = $400,000 / 4.29187072
PV = $93,171.77 (rounded to two decimal places)
Thus, Thurston must invest $93,171.77 today to retire with $400,000 in 25 years at an annual interest rate of 6% compounded annually.
If 3n+m=14 and n+m=1, find the value of n-m.
128 POINTS IF YOU HELP
The Problem: Ms. Chen is planning to take her camp group on a field trip to Pottery Bayou where each person will create her own piece of art pottery
. The regular cost is $20 per person. There is a group special that costs $10 per person with an additional $50 fee for a private room.
Ms. Chen is trying to decide if she should use the regular price or the group special.
A) Write an equation to show the total cost of the regular price with x people. (2 points) B) Write an equation to show the total cost of the group special with x people. (2 points) C) Graph the equations using desmos.
(2 points) • Directions for using the site • Share the link to your graph by copying & pasting it here: D) When would the two admission prices be the same? Explain how you know this using 1-2 complete sentences.
(2 points) E) How much would it cost to bring 6 people on the field trip for the regular price, and how much for the group special? Explain how you know this using 1-2 complete sentences.
(2 points) F) When would it be better to go with the regular price and when would it be better to go with the group special? Explain how you know this using 1-2 complete sentences. (2 points) G) The director of the camp told Ms. Chen that she can have a budget of $150 to bring as many campers as she can.
What deal should Ms. Chen go with and what is the maximum number of people she can bring with $150? Support your answer by showing how many people can go with each deal using 2-3 complete sentences. (3 points)
Answer: The answer would be y=20x :)
if your going 20 miles per hour how long will it take you to reach 100 miles
What is estimate the sum or difference of 1 5/6 + 2 2/11
Clearing fractions
SOLVE
what is 16×45÷2
[tex]12 \times 4 + 23 \div 2 + 13 \div 4[/tex]
Which BEST describes the speed and velocity of the graph?
A)
Both speed and velocity are changing.
B)
The speed and velocity remain constant.
C)
The speed is constant and velocity is changing.
D)
The velocity cannot be determined from the graph.
A - Both speed and velocity are changing.
Step-by-step explanation:Though the answer is option A but option D can also be true. The velocity cannot be completely determined from the graph. This is because, velocity is based on the direction and motion and the graph is not completely justifying this.
Though velocity cannot be determined, but it is clear from the graph that velocity is changing, because the speed is changing.
Therefore, option A is completely true.
A)
According to the graph, speed is increasing. Velocity is speed plus direction, so velocity is also changing. And this is an acceleration graph, so you know since acceleration is a change in velocity, both speed and velocity are changing.
The area of a parallelogram is 375 centimeters the base is 25 centimeters find the height
Suppose the probability that a randomly selected man, aged 55-59, will die of cancer during the course of the year is StartFraction 300 Over 100 comma 000 EndFraction . How would you find the probability that at least 1 man out of 1,000 of this age will die of cancer during the course of the year?
The question is an example of binomial distribution.
P(x=r) = nCr* p^r* q^(n-r) ( nCr = n! / ( (n-r)!*r! )
p = probability of die = 300/100000 = .003
P ( at least one man would die) = 1-P(at most one man would die)
= 1 - [ P(X =0) + P(X= 1)
= 1- [ {1000C0(.003)^0 *(.997)^1000} + { 1000C1(.003)^1 *(.997)^999} ]
= .801
Margaret decided to invest $2,000 in a savings account for 18 months at a simple interest rate of 5% how much money will she have earned at the end of 18 months
How can a mixed number be written as a sum?
To write a mixed number as a sum, separate the whole number part and the fractional part, such as 3 1/2 as 3 + 1/2.
A mixed number can be written as a sum by separating the whole number part and the fractional part. For example, 3 1/2 can be written as 3 + 1/2. This means 3 plus one-half.
Which word best describes the degree of overlap between the two data sets?
A none
B high
C moderate
D low
Answer:
The Answer Is *HIGH*
Step-by-step explanation:
[tex]\beta \alpha \lim_{n \to \infty} a_n[/tex] :)
Explain how two angles can be complementary angles.
What are three rational numbers that are between 1/3 and 1/2?
Julia is the president of the technology Club at school she has $568 to buy as many DVD players as she can for $75 each how many DVD players does Julia by and how much money does she have left over explain why and show your work
Answer number one asap this is not a joke so please not random cmts thx will report if u do!
What is the answer to this problem
Kate drives 234 miles in 5 hours Felix only has to drive one half of the distance that kate does how many miles does Felix has to drive?
The population of Adamsville grew from 7,000 to 12,000 in 5 years. Assuming uninhibited exponential growth, what is the expected population in an additional 5 years?
The expected population of Adamsville in an additional 5 years, assuming uninhibited exponential growth, is approximately 21,803 individuals.
Explanation:The question is based on exponential growth, a fundamental concept in mathematics. To solve for the population of Adamsville in the next 5 years, we need to know the growth rate. The formula for exponential growth is P = P0 * e^(rt), where:
P is the future populationP0 is the initial populationr is the exponential growth rate (as a decimal)t is time (in years)Given that the population grew from 7,000 to 12,000 in 5 years, it follows that 12,000 = 7,000 * e^(5r). Solving for r, we find that the annual growth rate is approximately 0.14496. Therefore, the estimated population in another 5 years would be P = 12,000 * e^(5 * 0.14496), which yields approximately 21,803. This suggests that if Adamsville's population continues to grow at an uninhibited exponential rate, in the next 5 years, it will reach roughly 21,803 individuals.
Learn more about Exponential Growth here:https://brainly.com/question/12490064
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Gail has eight united states coins. Their total value is 93 cents. What coins does she have?
Will mark brainliest. HELP PLEASE. QUICK
Tasha claims that her skateboard weighs about 3 pounds. is Tasha's claim reasonable? Explain
The underlying rock ledge of Canada's horseshoe falls is cut back about 2 feet each year by erosion. Calculate how much the rock ledge will erode over a 7 year period of time
Eighteen more than twice a number is 8.Solve for the variable
the bakery sold 65 cheesecakes. 3/5 of the cakes were chocolate. how many chocolate cheesecakes did they sell?
Convert 0.656 to a fraction. A. 21⁄32 B. 22⁄30 C. 20⁄33 D. 23⁄12
Help with 4 and 5 please!!
−(4+h)=3h - what does H equal?
What is the surface area of the rectangular prism below?
A. 823 u
B. 740
C. 700
D. 1260
Answer:
C) 700 unit².
Step-by-step explanation:
Given : A rectangular prism .
To find : What is the surface area of the rectangular prism below.
Solution : We have given that a rectangular prism with
Length = 14 units,
Width = 12 units
Height = 7 units.
Surface area of rectangular prism = [tex]2(length* width\ +\ height*width\ +\ height*length})[/tex].
Plugging the values
Surface area of rectangular prism = 2 ( 14* 12 + 7 *12 + 7 *14)
Surface area of rectangular prism = 2 ( 168 + 84 + 98)
Surface area of rectangular prism = 2 ( 350).
Surface area of rectangular prism = 700 unit².
Therefore, C) 700 unit².
-(18+4x)=8 hope you can help