Steven wishes to save for his retirement by depositing $2,000 at the beginning of each year for thirty years. Exactly one year after his last deposit, he wishes to begin making annual level withdrawals until he has made twenty withdrawals and used up the savings. Find the amount of each withdrawal if the effective interest rate is 3% during the first thirty years but only 2% after that.

Answers

Answer 1

Step-by-step explanation:

i = interest 3% for 30 years

This is a simple dynamical system for whom the the solutions are given as

[tex]S=R[\frac{(i+1)^n-1}{i}](i+1)[/tex]

putting values we get

S=2000[\frac{(1.03)^{30}-1}{0.03}](1.03)

= $98005.35

withdrawal of money takes place from one year after last payment

To determine the result we use the present value formula of an annuity date

[tex]P = R\frac{1-(1+i)^{-n}}{i}{i+1}[/tex]

we need to calculate R so putting the values and solving for R we get

R= $6542.2356


Related Questions

The function f(x) = x3 – 7x + bis shown in the figure.
15+

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Answer:

The correct answer is

(x + 2) (x + 1) (x - 3)

Step-by-step explanation:

l need help again please

Answers

Answer:

it is a which is 3.2 because you need to round to the nearest 10 which is 3

Answer:

3.2

Step-by-step explanation:

3.173 rounded off to nearest tenth is 3.2

Solve the problem. Round the point estimate to the nearest thousandth. 32 randomly picked people were asked if they rented or owned their own home, 8 said they rented. Obtain a point estimate of the proportion of home owners.
a. 0.200
b. 0.750
c. 0.781
d. 0.250
e. None of the above

Answers

Answer:

B) 0.750

Step-by-step explanation:

Why is because the answer is 3/4 and 3/4 in decimal form is 0.750.

How do I solve this?

Answers

Answer:

I would go with 105 because 55+50 is 105.

Step-by-step explanation:

Good luck and hope this helps you :)

which is the best rational approximation for the square root of 55

Answers

the answer is 7.4162

the ratio of two numbers is 4:5 after adding 20 to the smaller number and subtracting 20 from the greater number the ratio becomes 14:13 find the number please help!​

Answers

Answer:

The numbers are 120 and 150.

Step-by-step explanation:

Please see the attached pictures for the full solution.

what is greater -.89 or .4

Answers

Answer:

.89

Step-by-step explanation:

.89 is greater because it is closer to a whole than .4, which makes .89 greater.

PLEASE HELP QUICK I HAVE NO CLUE

Answers

Answer:

51 + 85 = 136

Step-by-step explanation:

Hi,

The ratio of two numbers is 3 to 5.

Let x represent the constant of the proportionality

 3x + 5x = 136

    8x = 136 (divide both sides by 8)

x = 17

The numbers are:

3*17 = 51 and

5*17 = 85

CHECKING our answer***

  51 + 85 = 136

Answer:

51 and 85

Step-by-step explanation:

add the two ratio parts (3 & 5) and divide by total. you get 17. then multiply the parts by 3 and 5 to get the answer

A kitten’s mass at birth was 0.09 kilogram. The kitten gained approximately 0.084 kilogram each week. After how many weeks is the kitten’s mass 1.098 kilograms?

Answers

A kitten’s mass at birth was 0.09 kilogram. The kitten gained approximately 0.084 kilogram each week. After how many weeks is the kitten’s mass 1.098 kilograms?

What is the vertex of the equation f(x)=-4(x+2)^2+1

Answers

Answer: (-2,1)

Step-by-step explanation:

Step-by-step explanation:

and then we will have access you to get the information you want to cry because you have to be around and he said why he was about the feudal of his heart is the only way he could get his life back to

Use formulas to find the area of the figure. A triangle has a horizontal bottom side of length 8 centimeters and two sides of lengths 5 centimeters and 10 centimeters. The vertical distance from the top vertex to a line containing the bottom side is 3 centimeters.

Answers

Answer:

Don't let people bring you down you got this

Step-by-step explanation:

Use this picture to answer the questions below.

Answers

What- what are the questions

A flagpole casts a shadow that is 24 ft long at the same time you cast a shadow that is
4.5 ft long. If you are 6 ft tall, how tall is the flagpole?

Answers

Answer:

32 ft tall

Step-by-step explanation:

24 divided by 4.5 is 5.3 repeating. 6 times 5.3 is around 32

Can someone explain algebra with a paragraph or sum cuz ion understand

Answers

Algebra is one of the broad parts of mathematics, together with number theory, geometry and analysis. It is the study of mathematical symbols and the rules for manipulating these symbols

Hope this helps.
:)

Qwin bought a shirt that was on sale for $23.00. The sales tax rate was 7%. Use this information to fill in the statement below.

Answers

Pizza pizza pizza pizza pizza

Answer:

24.61

Step-by-step explanation:

7% of 23 is 1.61

so add 1.61 to 23 = 24.61

What is the x-coordinate of point D? Write the coordinate as a decimal. ​

Answers

Correct Answer:

2.5

c:

Answer:

2.6

l think it coordinate of D is 2.6

Which of the following statements is correct?

A) The lines are parallel because the angles are equal

B) The lines are parallel because the angles are supplementary

C) The lines are not parallel because the angles are not equal

D) The lines are not parallel because the angles are not supplementary

Answers

For me it’s A not sure tho

(3x+5)(3x+9) express as a trinomial

Answers

Answer:

9x^2+42x+45

Step-by-step explanation:

Foil (3x+5)(3x+9) by taking the numbers in the left parenthesis and multiplying it by the numbers on the right. So 3x(3x), then 3x(9), then 5(3x) and 5(9). Now we have 9x^2 + 27x+15x+45, simplify to get 9x^2+42x+45.

Guys plz solve this equation and help me​

Answers

Answer:5a^2 + 6ab + 2b^2

Step-by-step explanation:

Answer:

i don't know if this helps

Meaning of a typewriter

Answers

a older computer that isn't electronic

The old version of today's keyboard. The ink was pressed onto paper in order to create letters, formalities, such as that. There was no backspace, so you had to manually take the paper out, erase the wrong letter(s), and put it back in to continue writing.

is this what you were asking for?

what is the least common denominator for 6/7 and 1/2?

Answers

Answer:

LCD = 14

Equivalent Fractions with the LCD

6/7 = 12/14

1/2 = 7/14

The least common denominator for 6/7 and 1/2 is 14.

What is the least common denominator?

The least common denominator is the smallest number of all the common multiples of the denominators when 2 or more fractions are given.

Given are two fractions, 6/7 and 1/2

The LCD for these two will be =

6/7 = 12/14

1/2 = 7/14

LCD = 14

Hence, the least common denominator for 6/7 and 1/2 is 14.

For more references on least common denominator, click;

https://brainly.com/question/29267309

#SPJ3

Gina popped 7 times as many balloons as Sam did. If Sam popped n balloons, how many balloons did Gina pop?
O A 7-n
7n
O c 7+1
o

Answers

Answer:

B. 7n

Step-by-step explanation:

Gina popped 7 times more than Sam, the keyword is times, so u have to multiply the amount of balloons Sam poppes, n, with 7

If it said Gina popped 7 balloons more, then it would be 7 + n

Constructing a frequency distribution for grouped data
Ten cyclists were each asked the distance in miles they biked last week.
Their responses are given below.
Complete the grouped frequency distribution for the data.
In the distribution, the frequency of a class is the number of distances in that class.
(Note that we are using a class width of 5.)
Distance in miles
Distance in miles
Frequency

3
20
6
3
7
8
13
10
18
12
6 to 10
11 to 15
16 to 20 and 1 to 5

Answers

The grouped frequency distribution for the data with the given intervals is 2, 4, 2 and 2 respectively.

Given that, ten cyclists were each asked the distance in miles they biked last week. The distance travelled by 10 cyclists is 3, 20, 6, 3, 7, 8, 13, 10, 18 and 12.

We need to complete the grouped frequency distribution for the data.

What is the grouped frequency distribution?

In this type, the data is arranged and separated into groups called class intervals. The frequency of data belonging to each class interval is noted in a frequency distribution table. The grouped frequency table shows the distribution of frequencies in class intervals.

Now, the frequency distribution for the given intervals is as follows:

That is, for intervals 1 to 5 the frequency is 2.

For intervals 5 to 10 the frequency is 4.

For intervals 11 to 15 the frequency is 2.

For intervals 16 to 20 the frequency is 2.

Therefore, the grouped frequency distribution for the data with the given intervals is 2, 4, 2 and 2 respectively.

To learn more about the grouped frequency distribution visit:

brainly.com/question/4679134.

#SPJ2

(-8) × 2/3 Please help me with this​

Answers

Answer:

Step-by-step explanation:

1= divide -8 by 3

2= multiply your answer from one by 2

3= then you have 2/3 of negative 8 (rembere to keep it negative)

Answer:

-5 1/3

Step-by-step explanation:

I think

Hope this welps

Evaluate the expression? 2⁵​

Answers

2 * 2 * 2 * 2 * 2
4 * 2 * 2 * 2
8 * 2 * 2
16 * 2 = 32
The solution is 32

Answer:

32

Step-by-step explanation:

2^5 =

= 2 * 2 * 2 * 2 * 2

= 4 * 2 * 2 * 2

= 8 * 2 * 2

= 16 * 2

= 32

Craig solicited donations for his school's jump-rope a-thon. He collected $13.00 in fixed donations and pledges totaling $1.50 for each minute, m, he jumps rope at the event. The total amount of money Craig has
raised is represented by the expression: 13 +1.50m.
What is the total amount of money Craig will raise if he jumps rope for 8 minutes?

HELP MEH PLA ASAP

Answers

Answer:

25

Step-by-step explanation:

13+1.50m

13+1.50(8)

13+12

25

I need a little help my son and I do not quite understand we need a little help

Answers

Answer:

sin A =cos B

Step-by-step explanation:

sin A =opp/hyp =BC/AB

cos B=adj/hyp = BC/AB

Answer:

its C

Step-by-step explanation:

Given point B is located at (-4,2). What is the image of B after a reflection across the y-axis?​

Answers

Answer:

(-4,-2)

Step-by-step explanation:

If Mrs. Kliesch’s Thrive class has 9 students and 6 of the students are girls, what percent of her class is girls?

Answers

Answer:

30% of girls in her class

Corey is reading a graph of equivalent ratios. If one of the ratios is represented as
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(6, 8)
(8, 6)
(9, 15)
(15,

Answers

Answer:

(9,15)

Step-by-step explanation:

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