Suppose our retirement account pays 9% apr compounded monthly; what size nest egg do we need in order to retire with 25 years that yields to $5,000 per month? Show all work

Answers

Answer 1

Answer:

  $595,808.11

Step-by-step explanation:

We assume the retirement account is intended to pay out $5000 per month for 25 years. The amortization formula can be used to find the required amount. The monthly payment A based on principal P with interest at annual rate r for t years satisfies the relation ...

  A = P(r/12)/(1 -(1 +r/12)^(-rt))

  P = A(12/r)(1 -(1 +r/12)^(-rt))

  P = 5000(12/0.09)(1 -(1 +.09/12)^-300)

  P = $595,808.11

The required nest egg is $595,808.11.


Related Questions

Perform he operations in the correct order :
10 + 8 ÷ 1 -5

Answers

The answer is 13 !!!
if you want work:

step 1: divide first (8 divided by 1 = 8)
step 2: add since it’s first (10 + 8 = 18)
step 3: subtract (18 - 5 = 13)

Do you like a newspaper has letters to the editor for 60 people. If it’s number represents 5% of all the newspaper readers how many readers of the newspaper have

Answers

Answer:

5÷100

=0.05

0.05×60

=3

Answer:

1200 readers

Step-by-step explanation:

Let x = number of readers

x* 5% = 60

Change to decimal form

x* .05 = 60

Divide each side by .05

x * .05/.05 = 60/.05

x =1200

How many hours will it take them to be 400 miles apart?

Answers

Step-by-step explanation:

50 miles per hour, how long will it take before that train meets THE Other train, going from B to A, at a speed

A coordinate plane with 4 lines. The first line is labeled a(x) and passes through (2, negative 4) and (0, 2) and continues past (negative 1, 5). The second line is labeled f(x) and passes through (negative 6, negative 6), (negative 3, 0), and (0, 6). The third line is labeled g(x) and passes through (negative 2, negative 7), (0, negative 3), (1, negative 1) and (2, 1). The fourth line is labeled h(x) and passes through (negative 6, negative 6), (0, negative 3), and (6, 0).
When Janelle woke up, it was –3 degrees Fahrenheit outside. As the morning progressed, the temperature rose 2 degrees every hour.

Which line on the graph could represent this scenario?

a(x)
f(x)
g(x)
h(x)

Answers

Answer:

It is c which is g(x)

Step-by-step explanation:

Answer:

the answer is C : g(x)

Step-by-step explanation:

i just got the right answer on the assignment

NEED HELP GIVING 15 POINTS

Choose the one problem that has NOT been done correctly. Start your response with the number you choose and explain the mistake that was made in the problem.

Answers

Answer:

1

Step-by-step explanation:

didn't mulitiply by -2

2
it says y=-4 (2 x -4)=-8
7-(-8) turns into 7+8 because two negatives make a positive

Help ASAP
Find the sum (-3x + 7) + (2x - 5).

Answers

Answer:

-x + 2

Step-by-step explanation:

Two functions are given below: f(x) and h(x). State the axis of symmetry for each function and explain how to find it.
Ps. I just need h(x)

Answers

The answer is C hoped this helped

The graph shows f (x) and its transformation g(x) . Which equation correctly models g(x) ?
A) g(x) = 4x-2 + 4
B) g(x) = 4x+2 - 4
C) g(x) = 4x+4 + 2
D) g(x) = 4x-4 + 2

Answers

C because of the climax an it rises vertically to the y axis

Coach Brown made 50 pints of Gatorade for his team. How many gallons did he make?

Answers

Answer:

6.25 gallons

Step-by-step explanation:

Answer:

6.25

Step-by-step explanation:

solve for b
12=b/3-8 ​

Answers

Answer:

b=60

Step-by-step explanation:

Add 8 to both sides to receive the equation of 20=b/3

Multiply all sides by 3 to get 60 as b

While jumping rope, Juan jumped 24 times in 30 seconds. At this rate, how many times will he jump in 50 seconds?

Answers

Answer:

40

Step-by-step explanation:

In 50 times Juan will jump 40 times.

What is unitary method ?

Unitary method is first finding the value of a single unit and then deriving the required units from the given data.

For example - : A can eat 2 bananas in 2 seconds.So he can eat one banana in 1 second.From this we can calculate how many bananas he can eat in any given time.

According to the given question Juan jumped 24 times in 30 seconds.

∴ In 1 sec Juan will jump 24/30 times which is

= 4/5 times.

So, in 50 secs Juan will jump ( 4/5 × 50 ) = 40 times.

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The sum of 6 consecutive odd numbers is 204. What is the fourth number in this sequence?​

Answers

Answer:

35

Step-by-step explanation:

1. Set up a equation.

2. X is the first, so the ones after x are x+2, x+4, x+6, x+8, and x+10.

3. That means that x+x+2+x+4+x+6+x+8+x+10=204.

4. Simplify. You would get that 6x+30=204.

5. Solve for x. 6x=174, so x=29.

6. Get the fourth number in the sequence. 29+6=35.

Answer: The fourth number in this sequence is 35.

Express in the form n : 1
30 : 6

Answers

30/6 = n
n = 5
ratio is 5:1

Answer:

5:1

Step-by-step explanation:

What is the quotient for 6 and 1/2 divided by 3/4

Answers

Answer:

I believe it is 4

Step-by-step explanation:

Mariah owed her grandfather $2.25 but was recently able to pay him back $1.50 how much does Mariah currently owe her grandfather

Answers

Answer:

$0.75

Step-by-step explanation:

2.25-1.50=0.75

what percent of 50 is 18?

Answers

Answer:

36 %

Step-by-step explanation:

Convert the fraction to a decimal, then multiply by  100 .

Answer:

36%

Step-by-step explanation:

The same explanation as she said

Which graph represents the inequality y < -1 + 2x?

Answers

Answer:

The graph is attached down

Step-by-step explanation:

The form of the linear inequality is y < b + m x, where

m is the slope of the lineb is the y-intercept, the point of intersection between the line and the y-axis (0, b)The solution of the inequality is the area under the line  

To find which graph represents the inequality y < -1 + 2x

→ Find the y-intercept (the value of y at x = 0)

∴ b = -1

∴ The y-intercept is (0, -1)

From the given graphs we have two graphs that the line intersected the y-axis at (0, -1)

2nd graph in the 1st row

2nd graph in the 2nd row

∵ The sign of inequality is <

∴ The shaded area must be under the line

∴ The 2nd graph in the 1st row is our answer

The graph which represents the inequality y < -1 + 2x is attached down

Solve the equation

6=u/9+10

Answers

Answer:

114

Step-by-step explanation:

Because u do 9+10 which equals 19 and then u do 19*6 and u get 114 so the expression now would be 6=114/(9+10)

If the variance of the data values in a population is 225, what is the standard
deviation of the data values?
a.15
b.17
c.11
d.13
(apex)

Answers

Answer:15

Step-by-step explanation:

Apex

Which ratio is equivalent to 3:7?
A 6:7
B 3:21
C 24:56
D 15:30

Answers

Answer:

c

Step-by-step explanation:

Answer:

C. 24:56

Step-by-step explanation:

3/7 * 8/8

3*8 = 24

7*8 = 56

24/56

Could someone help me with number 17.

Answers

Answer:

y=-7

Step-by-step explanation:

if g(x)  is g(-2) that means that x=-2 so we plug that in so 5*-2+3

5*-2+ -10  

-10+3+ -7

so y=-7

The Answer to the question is: Y= -7

In 2008 the Better Business Bureau settled 75% of complaints they received (USA Today, March 2, 2009). Suppose you have been hired by the Better Business Bureau to investigate the complaints they received this year involving new car dealers. You plan to select a sample of new car dealer complaints to estimate the proportion of complaints the Better Business Bureau is able to settle. Assume the population proportion of complaints settled for new car dealers is .75, the same as the overall proportion of complaints settled in 2008
a. Suppose you select a sample of 450 complaints involving new car dealers. Show the sampling distribution of .
b. Based upon a sample of 450 complaints, what is the probability that the sample proportion will be within .04 of the population proportion?
c. Suppose you select a sample of 200 complaints involving new car dealers. Show the sampling distribution of .
d. Based upon the smaller sample of only 200 complaints, what is the probability that the sample proportion will be within .04 of the population proportion?
e. As measured by the increase in probability, how much do you gain in precision by taking the larger sample in part (b)?

Answers

Answer:

a) the sampling distribution of the sample proportion is approximately normal with mean 0.75 and standard deviation is 0.0204

b) the probability that the sample proportion will be within 0.04 of the population proportion is 0.95

c) sampling distribution of the sample proportion is approximately normal with mean 0.75 and standard deviation is 0.03061

d) the probability that the sample proportion will be within 0.04 of the population proportion is 0.8088

e) gain in precision is 0.1402.

Step-by-step explanation:

a) Let p represent the

Given that

population proportion of complaints settled for new car dealers p = 0.75.

and n = 450

mean of the sampling distribution of the sample proportion is the population proportion p

i.e  up° = p

mean of the sampling distribution of the sample proportion p° = 0.75

so standard error of the proportion is;

αp° = √(p( 1-p ) / n)

we substitute

αp° = √(0.75 ( 1-0.75 ) / 450)

=√(0.1875 / 450

= √0.0004166

= 0.0204

therefore the sampling distribution of the sample proportion is approximately normal with mean 0.75 and standard deviation is 0.0204

b)

(p° - p) is within 0.04

so lets consider

p ( -0.04 ≤ p° - p ≤ 0.04) = p ( ( -0.04/√(0.75 ( 1-0.75 ) / 450)) ≤ z ≤ ( 0.04/√(0.75 ( 1-0.75 ) / 450))

= p( -0.04/0.0204 ≤ z ≤ 0.04/0.0204)

= p ( -1/96 ≤ z ≤ 1.96 )

= p( z < 1.96 ) - p( z < -1.96 )

now from the S-normal table,

area of the right of z = 1.96 = 0.9750

area of the left of z = - 1.96 = 0.0250

p( -0.04 ≤ p°- p ≤ 0.04)  =  p( z < 1.96 ) - p( z < -1.96 ) = 0.9750 - 0.0250

= 0.95

therefore the probability that the sample proportion will be within 0.04 of the population proportion is 0.95

c)

population proportion of complaints settled for new car dealers p = 0.75.

n = 200

mean of the sampling distribution of the sample proportion p°.

i.e up° = p

mean of the sampling distribution of the sample proportion p° = 0.75

Sampling distribution of the sample proportion p is determined as follows

αp° = √(p( 1-p ) / n)

we substitute

αp° = √(0.75 ( 1-0.75 ) / 200)

=√(0.1875 / 200

= √0.0009375

= 0.03061

therefore sampling distribution of the sample proportion is approximately normal with mean 0.75 and standard deviation is 0.03061

d)

(p° - p) is within 0.04

so lets consider

p ( -0.04 ≤ p° - p ≤ 0.04) = p ( ( -0.04/√(0.75 ( 1-0.75 ) / 200)) ≤ z ≤ ( 0.04/√(0.75 ( 1-0.75 ) / 200))

= p( -0.04/0.03061≤ z ≤ 0.04/0.03061)

= p ( -1.31 ≤ z ≤ 1.31 )

= p( z < 1.31 ) - p( z < -1.31 )

now from the S-normal table,

area of the right of z = 1.31 = 0.9049

area of the left of z = - 1.31 = 0.0951

p( -0.04 ≤ p°- p ≤ 0.04)  =  p( z < 1.31 ) - p( z < -1.31 ) = 0.9049 - 0.0951

= 0.8098

therefore the probability that the sample proportion will be within 0.04 of the population proportion is 0.8088

e)  

From b), the sample proportion is within 0.04 of the population proportion; with the sample of 450 complaints involving new car dealers is 0.95.

sample proportion is within 0.04 of the population proportion; with the sample of 200 complaints involving new car dealers is 0.8098.

measured by the increase in probability, gain in precision occurs by taking the larger sample in part (b)

i.e

Gain in precision will be;

0.9500 − 0.8098

= 0.1402

therefore  gain in precision is 0.1402.

1 point
3. A bus driver stops at a gas station to put some gasoline in the bus. He
pays $2.48 per gallon for 15 gallons of gas. How much did he pay for the
gas?

Answers

hmmm i think it’s $37.20

Jose and Fernando are both working at the same company. Jose worked 42 hours last week while Fernando worked 38 hours during the same week. Jose makes $15/hour and Fernando makes $16/hour. Who made more money that week?

Answers

Answer:

Jose

Step-by-step explanation:

Jose:

Step 1:

42 × 15        Equation

Step 2:

$630     Multiply

Fernando:

Step 1:

38 × 16      Equation

Step 2:

$608    Multiply

Answer:

Jose earns more

Hope This Helps :)

Cindy and Victoria completed 8/9 of their job in a day. Cindy has done 1/9 of the work. How much of the work was done by Victoria?

Answers

Answer:

7/9 of the work was done by Victoria.

Step-by-step explanation:

8/9-1/9=7/9

Givin (2, 4) and 6, 12), what is The slope of the line between these two points?

Answers

Answer:

m=4 or slope =4

Step-by-step explanation:[tex]m=\frac{y2-y1}{x2-x1\\}[/tex]

so [tex]m=\frac{12-4}{6-2}[/tex] which is the same as 8/2. So all in all the slope is 4.

Given (64y^2)+(4x^2)+128y+16x+64=0, transform the equation into the appropriate form

Answers

Answer:

(8y+8)²+(4x²+16)=0

Step-by-step explanation:

Given:

(64y²)+(4x²)+128y+16x+64=0

Find:

Equation into the appropriate form

Computation:

(64y²)+(4x²)+128y+16x+64=0

(8y)²+(2x)²+128y+16x+64=0

(8y)²+(2x)²+2(8y)(8)+2(2x)(4) + 8²=0

(8y+8)²+(4x²+16)=0

Write the function in standard form.
f(x) = - 3(x - 7)2 + 15

Answers

Answer:

The answer is f ( x )  =  −  6 x  +  57

Step-by-step explanation:

Find the median of the following data
2,8,7,8,6,15,6,8,3

Answers

Answer:

7

Step-by-step explanation:

Median is the middle value in a list of values arranged in increasing order.

The values given are :2,8,7,8,6,15,6,8,3

Arrange values in ascending order as: 2,3,6,6,7,8,8,8,15

The middle value is: 2,3,6,6,7,8,8,8,15

Median is 7

Which expression is equivalent to Sine (StartFraction pi Over 12 EndFraction) cosine (StartFraction 7 pi Over 12 EndFraction) minus cosine (StartFraction pi Over 12 EndFraction) sine (StartFraction 7 pi Over 12 EndFraction)?

Answers

Answer:

EndRoot Over 2 EndFraction

StartFraction pi Over 6 EndFraction, StartFraction StartRoot 3 EndRoot Over 2 EndFraction

On using the trigonometric identity sin(x-y) = sin(x)cos(y) - cos(x)sin(y), we calculate that  [tex]sin(\frac{\pi }{12})cos(\frac{7\pi }{12}) - cos(\frac{\pi }{12} )sin(\frac{7\pi }{12} ) =sin(\frac{-\pi }{2} )[/tex].

What are trigonometric identities?

Trigonometric identities are equations that relate to different trigonometric functions and are true for any value of the variable that is there in the domain.

[tex]=sin(\frac{\pi }{12})cos(\frac{7\pi }{12}) - cos(\frac{\pi }{12} )sin(\frac{7\pi }{12} ) \\\\=sin(\frac{\pi }{12} -\frac{7\pi }{12})\\ \\ =sin(\frac{-\pi }{2} )[/tex]

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