Joe and Susan are both 40 years old and hope to have enough money saved to retire by the time they're 65. They deposit $6,000 each
year into an account that pays 4% interest compounded annually. Use this information to complete the table.
Formula to Use
Account Balance in 20 years
Total Interest Earned
present value of an annuity
future value of a lump sum
future value of an annuity
$99,875
$112,253
$149,875
$249,875
$286,363

Answers

Answer 1

Answer:

Formula: Future value of annuity

In 20 years: $249,875

Total Interest: $99,875

Step-by-step explanation:

Use the formula for future value:

FV =

P = $6,000

r = 0.04

n = 1

t = 25

FV =

FV = $249,875

To find the total interest earned, first find the total value of the deposit payments:

$6,000 annual payments for 25 years = 6,000 • 25

= $150,000

(I copied that explanation from somewhere else so its a little messed up. I just couldn't explain it properly. Hope this helps!)

Answer 2

Account balance In 20 years is $249,875 and total interest earned is $99,875.

What is the future value?

The FV formula assumes a constant rate of growth and a single up-front payment left untouched for the duration of the investment. The FV calculation can be done one of two ways, depending on the type of interest being earned.

We have,

P = $6,000

r = 0.04

n = 1

t = 25

We know the formula for future value

​FV= PV [tex](1 + r)^{n}[/tex].

where:

P=Investment amount

R=Interest rate

T=Number of years

According to the question​​

FV=$6,000×(1+0.04

FV = $249,875

To find the total interest earned, first find the total value of the deposit payments:$6,000 annual payments for 25 years = 6,000 × 25= $150,000

Total interest earned = FV - annually payment for 25 year = $249,875 - $150,000 = $99,875

To learn more about future value from here

https://brainly.com/question/14860893

#SPJ2


Related Questions

If u steal point i report

Answers

Answer:

Y:4     X:540

Step-by-step explanation:

Answer: first divide so you make it one and then you multiply hope that helps

Step-by-step explanation: then you can add them to get by one then multiply

Determine the value of side h in the diagram below

Answers

First you find the missing angle, let’s call it “a”

a = 180 - 60 - 90 = 30

Now you apply the formula:

h = 1000sin(a) = 1000sin(30) = 1000*1/2= 500

The answer is a) 500

Solve and state the correct answer for the trigonometric equation below

tan y = 6 - 4 cot y where
[tex] 0 \leqslant y \leqslant 360[/tex]

Answers

Answer:

y = {37.4°, 79.2°, 217.4°, 259.2°}

Step-by-step explanation:

Given

tan y = 6 - 4 cot y

We now that

cot y = 1/tan y

Substitute tan y with x:

x = 6 - 4/xx² = 6x - 4x² - 6x + 4 = 0x² - 6x + 9 = 5(x - 3)² = 5x - 3 = ± √5x = 3 + √5x = 3 - √5

Replace x with tan y:

tan y = 3 + √5 ⇒ y = arctan (3 + √5) ≈ 79.2° + 180°ktan y = 3 - √5 ⇒ y = arctan (3 - √5) ≈ 37.4°  + 180°k

Answer is:

y = {37.4°, 79.2°, 217.4°, 259.2°}

The measure of <1
I don’t understand how to solve

Answers

Answer:

<1=55°

Step-by-step explanation:

180-125=55

The slope of the line below is - Write a point-slope equation of the line
using the coordinates of the labeled point.

Answers

Answer:

[tex]y +9 = -4(x - 4)[/tex]

Step-by-step explanation:

Given

[tex]m = -4[/tex] --- slope

[tex](x_1,y_1) = (4,-9)[/tex] --- point

See attachment for complete question

Required

Determine the line equation

This is calculated as follows:

[tex]y - y_1 = m(x - x_1)[/tex]

Substitute values for m, x1 and y1

[tex]y - (-9) = -4(x - 4)[/tex]

Simplify the expression on the left-hand side:

[tex]y +9 = -4(x - 4)[/tex]

please help asap no trolls!

Answers

Answer:

t = 17

s = 46

Step-by-step explanation:

Congruent Triangles

If two triangles are determined to be congruent, their side lengths and angles have the same measure.

We are given the condition that triangles HIJ and DCB are congruent. This implies that sides JH and DB have the same measure, thus:

s = 46

We can also say that sides IJ and CB have the same measure, thus:

t = 17

Question 11 of 25
What is the area of a triangle with a base of 9 units and a height of 7 units?
A. 126 sq. units
B. 63 sq. units
C. 31.5 sq. units
D. 15.75 sq. units
SUB

Answers

Answer:

triangle formula  1/2* base * height

Step-by-step explanation:

1/2*9*7 = 31.5 sq units

A news report says that 9% of middle school students are on the track team.
There are 600 students in your middle school.

How many students in your school would you expect to be on the track team?

Answers

Answer:

54 students.

Step-by-step explanation:

If you have 600 and 9% the nearest rounding point is %10. %10 of 600 is 60, and 1% of 60 is 6, so 60-6=54.

please helppppppppppppppp

Answers

Answer:

D

it is D D D D D D D D D D D D D D D D D D D

Solve for x using the
distributive property.
-5(x - 2) = -20

Answers

Answer:

x=6

Step-by-step explanation:

-5(x - 2) = -20

first multiple 5 by x and -2

-5x 10 = -20

subtract 10 from 10 and -20

-5x=-30

then divide 5

x=6

Please help ASAP it’s due in 10 minutes pleaseeee I’m begging u

Answers

1 (hope i helped sorry if im wrong)

If the length of a cube is 2cm then find the surface area of the cube?

Answers

Given:

Length of a cube is 2 cm

To Find:

Surface area of the cube

Solution:

A cube consists of 6 faces.

The area of each face = side x side

So, the total surface area of a cube = 6 x

side x side

Let a be the length of the given cube

: Surface area of a cube = 6a square

a = 2 cm (Given)

Surface area of cube = 6 x 22 =(6 x 4) = 24 cm square.

Hence, the surface area of the given

cube is 24cm square.

Hope it helps!

Hellppp please!!! Find the area of the shaded region

Answers

Answer:

1600-400pi

Step-by-step explanation:

There are 2 semicircles making it a full circle. We are doing (40*40)-the area of the circle. We do 20*20 since that it is the radius and get 400. We then multiply it by pi. We get 400pi. Now we find the area of the square. This is 40*40 which gives us 1600. 1600-400pi is our answer

(8.8x10^-5)^-5 simplifed in scientifc notation

Answers

Answer:

5(44 x 10^x)^

Step-by-step explanation:

Multiply 88 x 5 = 44

5(44 x 10^x)^

helpppppppppppppppppp​

Answers

Answer:

2 solutions

Step-by-step explanation:

Given the expression

2m/2m+3 - 2m/2m-3 = 1

Find the LCM of the expression at the left hand side:

2m(2m-3)-2m(2m+3)/(2m+3)(2m-3) = 1

open the bracket

4m²-6m-4m²-6m/(4m²-9) = 1

Cross multiply

4m²-6m-4m²-6m = 4m²  - 9

-12m = 4m²  - 9

4m²  - 9+12m = 0

4m² +12m-9 = 0

Since the resulting equation is a quadratic equation, it will have 2 solutions since the degree of the equation is 2

Car rideshare services are a popular option for people needing to move about in large cities. The scatterplot shows the distances of trips and fares, in dollars, for an adult living in a city over a period of a month. The value of r for the scatterplot is 0.950.
How would the value of the correlation coefficient change if the fares were plotted on the x-axis and distances on the y-axis?

The value of the correlation coefficient would be –0.950.
The value of the correlation coefficient would not change.
The value of the correlation coefficient would be closer to 0.
The value of the correlation coefficient would be closer to 1.

Answers

Answer:

The value of the correlation coefficient would not change.

Step-by-step explanation:

If the relationship between distance of trips and fares in dollars gives a correlation coefficient value of 0.950. This can be interpreted to mean that the relationship between both variables is strong and positive such that an increase in distance leads to corresponding increase in fares of the trip and vice versa. Thus, interchanging the axis upon which the variables are plotted would still tied the same correlation Coefficient value as the correlation coefficient does not depend on the axis upon which the variables are plotted.

Answer:B: The value of the correlation coefficient would not change.

Step-by-step explanation:

If its change it will not be right

Find the product.
(–12 - n)2

Answers

Answer:

n^2 +24n +144

Step-by-step explanation:

(-12-n)^2

(-12-n)(-12-n)

144+12n+12n+n^2

n^2 +24n +144

i think... :)

Yea that is correct

5/8 - 4/5 subtract as indicated and express your answer in lowest terms

Answers

Answer:

-7/40

Step-by-step explanation:

5/8 - 4/5

~Find common denominators

25/40 - 32/40

~Subtract

-7/40

Best of Luck!

sam drove 220 miles on 8 gallons of gas. find the unit rate.

Answers

Answer:

27.5

Step-by-step explanation:

Answer: I got 27.5

Step-by-step explanation:

This is a fraction equal to

220 miles ÷ 8 hours

We want a unit rate where

1 is in the denominator,

so we divide top and bottom by 8

220 miles ÷ 8

8 hours ÷ 8

=

27.5 miles

1 hour

=

27.5 miles

hour

= 27.5 miles per hour

Paul wants to save $90 to go on a trip with his friends. He has $30 in his savings, and plans on saving $15 a week until he has enough money to go. Which of the equations below represents the situation?

Answers

Answer:

15 X w(how many weeks) + 30 = 90 or 15 X 4 + 30 = 90

Step-by-step explanation:

so he needs $90 he has $30 and he gets 15 a week so we are going to say a week will be w so however many weeks (4) so you will need to multiply it by 15 and it will be 60 then you add 30 and you get 90.

Explain how to evaluate algebraic expression
given value of a variable.

Answers

If you are given the value of a variable, all you have to do is substitute the variable for the value. For instance, if you are given an expression 2x + 5y, where x = 4 and y = 2, you evaluate the expression by substituting x with 4 and y with 2. That gives you 2(4) + 5(2) = 8 + 10 = 18

I hope this helps. Please make my answer the brainliest if you are satisfied with it.

If Jim Roller can paint a room in 3 hours while John Brush would take 5 hours, how long will they take if they work together? 1/8 hour 8/15 hour 1 7/8 hours

Answers

Answer:

Step-by-step explanation:

Each hour, Jim does 1/3 of the job if working alone.

Each hour, John does 1/5 of the job if working alone.

Let x = number of hours to do the job if they work together.  So, each hour, they do 1/x of the job when they work together.

We get the equation:  1/3 + 1/5 = 1/x

Multiply the equation by the LCD, 15x:   5x + 3x = 15

                                                                             8x = 15

                                                                               x = 15/8 = 1 7/8 hrs

ANSWER:  (C).  

Answer is C


Explicación

ok can someone please help me? 15 pts

Answers

Answer:

3.2

Step-by-step explanation:

12.8/4 which makes the answer 3.2

What is being supported in the protest depicted?
A)Women wanted President Wilson to champion their right to vote.
B)Women demanded President Wilson recognize their right to free speech.
C)Women criticized President Wilson for sending troops to fight in the war.
D)Women expected President Wilson to provide equal pay for their work in the factories.

Answers

Answer:

the person above me is right it is A or  one

Step-by-step explanation:

someone please help me asap! i will give branniest!

Answers

All you have to do is use ur calculator

Discuss: a. The role of the expansion of 1/(1 - t) in powers of t in the explanation of the Basic Convergence Principle. b. The role of the Basic Convergence Principle in the explanation of the ratio test.

Answers

Answer:

See convergence analysis below

Step-by-step explanation:

For the expansion of 1/(1-t) in powers of t, we can recall that an infinite  Geometric series with first term "1" and common ratio "t", in the case that the absolute value of "t" is smaller than 1, can be represented by:

[tex]\Sigma\limits^\infty_0\, t^n=\frac{1}{1-t} \\[/tex]

The condition for such, is that the absolute value of "t" is smaller than "1", which gives us the radius of convergence for this series "1" and the interval of convergence:  - 1 < t < 1

Recall as well that using the geometric sequence  [tex]1 + t + t^2 + t^3 +...[/tex]

The ratio test becomes [tex]\frac{a_{n+1}}{a_n} = t[/tex]

which is the SAME as the common ratio for the geometric sequence, and which in order to converge to the value [tex]\frac{1}{1-t}[/tex]   requires that the absolute valu of the common ration be smaller than "1" rendering the same radius of convergence as discussed above.


Three hundred three and two hundredths

Answers

303.02

Three hundred three=303

Two hundredths= .02

= 303.02

Given that y varies inversely with x, and y = 60 when x = 2, find x if y = 24

Answers

Step-by-step explanation:

xy = k, where k is a real constant.

When x = 2, y = 60.

=> (2)(60) = k, k = 120.

Hence when y = 24, x(24) = (120), x = 5.

The graph below have the same shape . What is the equation of the red graph ?
A. G(x) = (7-x)^2
B. G(x) = 1-x^2
C. G(x) = 7-x^2
D. G(x) = (1-x)^2

Answers

Answer:

Option B is correct .

Step-by-step explanation:

According to Question , both the graph have same shape . If we look at the the first graph it cuts x - axis at (0 , 2) and ( 0 , -2) . Hence x = 2 and -2 are the zeroes of the equation .

And ,the given function is ,

[tex]\implies f(x) = 4 - x^2 \\\\\implies f(x) = 4-x^2=0 \\\\\implies 2^2-x^2=0\\\\\implies (2-x)(2+x) = 0 \\\\\boxed{\red{\bf \implies x = 2 , (-2) }}[/tex]

Hence ,we can can see that x = 2 and (-2) are the zeroes of graph.

This implies that if we know the zeroes , we can frame the Equation.

On looking at second parabola , it's clear that cuts x - axis at ( 1, 0 ) and (-1,0). So , 1 and -1 are the zeroes of the quadratic equation . Let the function be g(x) . Here , a and ß are the zeroes.

[tex] \begin{lgathered}\implies g(x) = (x-\alpha)(x-\beta) \\\\\implies g(x) = (1+x)(1-x) \\\\\boxed{\pink{\bf \implies g(x) = 1 - x^2}}\end{lgathered} [/tex]

Hence option B is correct .

Round the nearest 2 decimal places, 892/15=

Answers

Answer:

59.47

Step-by-step explanation:

a calculator might help

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