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nalin [4]
2 years ago
10

You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $4000 per mont

h. You have access to an account that pays an APR of 6.0% compounded monthly. This requires a nest egg of $620,827.46.
What monthly deposits are required to achieve the desired monthly yield at retirement? (Round your answer to the nearest cent.)

Mathematics
1 answer:
Molodets [167]2 years ago
7 0

Answer:

  $311.74

Step-by-step explanation:

A financial calculator computes the payment amount to be $311.74.

___

Your graphing calculator may have the capability to do this. Certainly, such calculators are available in spreadsheet programs and on the web.

___

The appropriate formula is the one for the sum of terms of a geometric series.

  Sn = a1·((1+r)^n -1)/(r) . . . . . where r is the monthly interest rate (0.005) and n is the number of payments (480). Filling in the given numbers, you have ...

  $620827.46 = a1·(1.005^480 -1)/.005 = 1991.4907·a1

Then ...

  $620827.46/1991.4907 = a1 ≈ $311.74

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marysya [2.9K]

Answer:

The breakeven prices are d_1=4.225 and d_2=1.775.

Step-by-step explanation:

The break even point represents the point in which the profit is zero. In other words, where the revenue equals the cost.

We have functions that describe both the revenue and the cost. The brackeven price is such that R(d)=C(d):

R(d) = - 40d^2 + 200d\\\\C(d) = 300-40d\\\\\\R(d)=C(d)\\\\-40d^2+200d=300-40d\\\\-40d^2+240d-300=0\\\\\\d=\dfrac{-240\pm\sqrt{240^2-4(-40)(-300)}}{2(-40)}\\\\\\d=\dfrac{-240\pm\sqrt{57600-48000}}{-80}\\\\\\d=\dfrac{-240\pm98}{-80}=3\pm1.225\\\\\\d_1=3+1.225=4.225\\\\d_2=3-1.225=1.775

4 0
2 years ago
I'm confused I don't understand this??? Will give brainliest to whoever can help!
Nata [24]

Answer:

The Rome data center is best described by the mean. The New York data center is best described by the median

Step-by-step explanation:

Before moving forward, first we should understand that what is mean and median. Mean is the average of all the values in the data set. Median is the middle value of the data set in ascending order. As we noticed that there is an outlier in the data for NEW YORK (An outlier is an extreme value in the data set which is much higher or lower as compared to other numbers. It affects the mean value). Since outlier is found in the data of New York therefore mean is not a good representation on the central tendency of the data and gets distorted by the outlier. Therefore it is better to use median. While Rome does not have any outlier, so we can use mean for this.

Therefore we can say that the Rome data center is best described by the mean. The New York data center is best described by the median.

Thus option C is correct....

3 0
2 years ago
Victoria read a 160-page historical fiction novel followed by a science fiction novel of the exact same length. Her average read
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The answer is C: the average reading speed of the science fiction novel.

If x is her reading speed for the historical fiction novel, and her reading speed for the sci-fi novel is just two pages more than that of the historical fiction novel, then the equation to find out how fast she reads the science fiction novel would be x + 2, as you’re adding 2 to the reading speed of the historical fiction book (x)

6 0
2 years ago
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While traveling to Europe, Phelan exchanged 250 US dollars for euros. He spent 150 euros on his trip. After returning to the Uni
storchak [24]

Answer: Phelan now have 44.69 US dollars. of the original 250 US dollars.

Step-by-step explanation:

Given, Phelan spent 150 euros on his trip.

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Initially he had 250 US dollars, now he has left (250-205.31)US dollars that is

44.69 US dollars.

Hence, Phelan now have 44.69 US dollars. of the original 250 US dollars.

8 0
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