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gulaghasi [49]
2 years ago
8

1. Michael invests $2000 in an annuity that offers an interest rate of 4% compounded quarterly for 5 years. What is the value of

Michael's investment after 5 years? $2102.02 $4382.25 $2440.38 $2433.31 2.
Suppose you invest $50 a month in an annuity that earns 48% APR compounded monthly. How much money will you have in this account after 2 years? $1536.19 $751.29 $1954.13 $2001.29
3. Danielle invests $50 a month in an annuity that earns 4% APR and is compounded monthly. What is the future value of Danielle's account in 3 years? $1843.29 $2153.85 $1909.06 $2082.39
4. Suppose you invest $10,000 at the age of 40, and agree to start receiving payments at the age of 50. At age 48, you decide you want to withdraw $2500 from your account. What is the IRS fee you will have to pay? Remember, the IRS charges 10% if you withdraw before you are 59.

5. Show your work to get full credit! 5. Suppose you invest $20,000 at the age of 40, and agree to start receiving payments at the age of 50. At age 47, you decide you want to withdraw $7500 from your account. The insurance company charges you 50% of the withdrawal. What is the surrender charge? (Show all work to get full credit!)
Mathematics
2 answers:
Amanda [17]2 years ago
8 0
1. The formula for annual compound interest, including principal sum, is:

A = P (1 + r/n)ⁿˣ

Where:

A = the future value = ?
P = the principal investment amount = $2000
r = interest rate = 4%
n = the number of times that interest is compounded per year = 4
x = the number of years = 5

Calculations:

A = 2000 (1 + 0.04/4)²⁰

A = 2000 (1 + 0.01)²⁰

A = 2000 (1.01)²⁰

A = 2000 ₓ 1.22

A = $2440.38 


2. The formula for annual compound interest, including principal sum, is:

A = P (1 + r/n)ⁿˣ

Where:

A = the future value = ?
P = the principal investment amount = $50
r = interest rate = 48%
n = the number of times that interest is compounded per year = 12
x = the number of years = 2

Calculations:

A = 50 (1 + 0.48/12)²⁴

A = 50 (1 + 0.04)²⁴

A = 50 (1.04)²⁴

A = 50 ₓ 2.56

A = $128.16


3. The formula for annual compound interest, including principal sum, is:

A = P (1 + r/n)ⁿˣ

Where:

A = the future value = ?
P = the principal investment amount = $50
r = interest rate = 4%
n = the number of times that interest is compounded per year = 12
x = the number of years = 3

Calculations:

A = 50 (1 + 0.04/12)³⁶

A = 50 (1 + 0.003)³⁶

A = 50 (1.003)³⁶

A = 50 ₓ 1.12

A = $56.36

Leviafan [203]2 years ago
3 0

Answer:2440.38

Step-by-step explanation:

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anzhelika [568]

Answer:

The mean of the sampling distribution of the sample proportions is 0.82 and the standard deviation is 0.0256.

Step-by-step explanation:

The Central Limit Theorem estabilishes that, for a normally distributed random variable X, with mean \mu and standard deviation \sigma, the sampling distribution of the sample means with size n can be approximated to a normal distribution with mean \mu and standard deviation s = \frac{\sigma}{\sqrt{n}}.

For a skewed variable, the Central Limit Theorem can also be applied, as long as n is at least 30.

For proportions, the mean is \mu = p and the standard deviation is s = \sqrt{\frac{p(1-p)}{n}}

In this problem, we have that:

p = 0.82, n = 225.

So

\mu = 0.82

s = \sqrt{\frac{p(1-p)}{n}} = \sqrt{\frac{0.82*0.18}{225}} = 0.0256

The mean of the sampling distribution of the sample proportions is 0.82 and the standard deviation is 0.0256.

7 0
2 years ago
Read 2 more answers
BOXES Simon will make a box without a top by cutting out corners of equal size from a 22 inch by 15 inch sheet of cardboard and
il63 [147K]

Answer:

Volume of box is 432 in^3

Step-by-step explanation:

Let x be the side of square corner

Length of box after cutting corners =22-2x

Breadth of box after cutting corners =15-2x

Height =x

Volume of box = (22-2x)(15-2x)x

Volume of box =4x^3-74x^2+330x

Differentiate w.r.t x

\frac{dV}{dx}=12x^2-148x+330

Substitute derivative =0

12x^2-148x+330=0\\x=\frac{37-\sqrt{379}}{6},\frac{37+\sqrt{379}}{6}\\\frac{d^2V}{dx^2}=24x-148

at x=\frac{37-\sqrt{379}}{6}

\frac{d^2V}{dx^2}=24x-148=24(\frac{37-\sqrt{379}}{6} )-148=-77.87 < 0 hence maximum

at  x=\frac{37+\sqrt{379}}{6}

\frac{d^2V}{dx^2}=24x-148=24(\frac{37+\sqrt{379}}{6} )-148=77.87>0 hence minimum

So,Volume of box =4x^3-74x^2+330x=4(\frac{37-\sqrt{379}}{6} )^3-74(\frac{37-\sqrt{379}}{6} )^2+330(\frac{37-\sqrt{379}}{6} )=432.23 in^3

Hence Volume of box is 432 in^3

4 0
2 years ago
Use the roster method to write each of the given sets. (Enter EMPTY for the empty set.)
Kitty [74]

Answer:

a) Empty set

b)  \{x : x \in N \text{ and } x < 13\}                                        

Step-by-step explanation:

Roster form is a comma separated list form of set.

a) The set of natural numbers x that satisfy x + 4 = 1.  

x + 4 = 1\\x = -3 \notin N

Thus, x is an empty set.

b) set-builder notation for the set  {1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12}.

We use x to represent this set. Now x belongs to natural number and is less than equal to 12.

Thus, it can be written as:

\{x : x \in N \text{ and } x < 13\}

6 0
2 years ago
In quadrilateral ABCD m ACD =2 x+4 and m ACB=5x-11. for what value of x is ABCD a rhombus?
gayaneshka [121]

The value of x is 5

Explanation

Given <ACD=2x+4

<ACB=5x-11

Given that ABCD is a rhombus. So the opposite angles will be same and all the sides will be equal.

AB=BC=CD=AD\\

diagonal AC divides the rhombus into two triangles ACD and ACB

according to angle sum property, the sum of all angles of a triangle is 180.

consider triangle ACD

8 0
2 years ago
Tom's Trashbins Inc. has fixed costs of $226,800. The firm's sales are expected to be $427,500 this year if the firm sells 9500
suter [353]

Answer:

The break even point is 8400.

Step-by-step explanation:

Tom's Trashbins Inc. has fixed costs of $226,800.

The firm's sales are expected to be $427,500 this year if the firm sells 9500 units.

The unit sales price is = \frac{427500}{9500}=45 dollars

Variable costs amount to 40% of sales.

So, the contribution margin per unit cost is 0.60\times45=27 dollars

So, the break even point in units for Tom's Trashbins is =

fixed cost/contribution margin per unit cost

= \frac{226800}{27} = 8400

8 0
2 years ago
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