You recently discovered that your job provides a 25% matching towards your retirement.
If you deposit $300 each month into a retirement account with an APR of 8.99%, what
would you type in Excel to find the balance after 30 years?

Answers

Answer 1

Answer:

What is typed in the attached Excel file is =FV(B4,B5,-B3,0,0).

Step-by-step explanation:

Note: See the attached excel file for the calculation of future value of an ordinary annuity.

Since we want to find the balance after 30 years, the function in the Excel is the FV function which is used to calculate the future value (FV) of an ordinary annuity as follows:

=FV(rate,nper,-pmt,0,0) …………………… (1)

rate = Monthly interest rate = APR / 12 = 8.99% / 12 = 0.0899 / 12 = 0.00749166666666667. Note: This is typed in cell B4 in attached excel file.

nper = periods = number of months = 30 years * 12 months = 360. Note: This is typed in cell B5 in attached excel file.

pmt = monthly payment = $300. Note: This is typed in cell B3 in the attached excel file. And also typed as a negative value in cell B7, i.e. as -B3.

pv = present value = 0. Note: This is the first 0 typed in cell B7 in the attached excel file.

type 0 = 0 this is typed to indicate that deposit is made at end of period as a regular or ordinary annuity. This is the second 0 typed in cell B7 in the attached excel file.

Based on the above, the FV function in equation (1) above is converted to the following which is typed in the attached Excel file to find the balance after 30 years:

=FV(B4,B5,-B3,0,0)

The above then gives a future value of $548,080.11 which is  the balance after 30 years.


Related Questions

Researchers are interested in estimating the percentage of Americans who will get a flu shot this year. How many Americans should be surveyed to be 80% confident that the sample proportion of Americans who will get a flu shot this year is within 0.100 of the population proportion Assume we have a prior estimate of 45%. Round your z critical value to four decimal places.

Answers

Answer:

The sample size bedded is   [tex]n =41[/tex]

Step-by-step explanation:

From the question we are told that

   The margin of error is  [tex]E = 0.100[/tex]

    The sample proportion is  [tex]\^ p = 0.45[/tex]

From the question we are told the confidence level is  80% , hence the level of significance is    

      [tex]\alpha = (100 - 80) \%[/tex]

=>   [tex]\alpha = 0.20[/tex]

Generally from the normal distribution table the critical value  of  [tex]\frac{\alpha }{2}[/tex] is  

   [tex]Z_{\frac{\alpha }{2} } =  1.282[/tex]

Generally the sample size is mathematically represented as  

    [tex]n = [\frac{Z_{\frac{\alpha }{2} }}{E} ]^2 * \^ p (1 - \^ p ) [/tex]

=> [tex]n = [\frac{1.282}{ 0.100} ]^2 *0.45 (1 - 0.45 ) [/tex]

=> [tex]n =41[/tex]

what is 3/4 + 1/2 and what is 1/3 + 11/48 in simplest form and a mixed number

Answers

Answer:

1) 5/4 or 1 1/4

2) 9/16

Step-by-step explanation:

3/4+1/2: you multiply 1/2 by 2 to get a common denominator then get 2/4, 3+2=5, 5/4 or 1 1/4

1/3+11/48: you multiply 1/3 by 16 to get common denominator & get 16/48, 16+11= 27/48, divide by 3 & get simplest form of 9/16

Answer:

3/4+1/2= 1 5/8  and 1/3+11/48 is not a mixed number 9/16

Step-by-step explanation:

Martin is interested in joining a gym and has researched the cost of two gyms close to his
house Gym A has a $50 registration fee and costs $30 per month. Gym B has a $100
registration fee and costs $10 per month. The cost of joining each gym can be modeled by the
expressions below, where m represents the number of months.
• Gym A: 30m + 50
• Gym B: 10m + 100

Answers

Answer:

I suppose that you want to find which gym will be cheaper for you.

We have two equations:

• Gym A: 30m + 50

• Gym B: 10m + 100

First, let's find the value of m such that both gyms cost exactly the same:

30*m + 50 = 10*m + 100

Let's solve this for m

30*m - 10*m = 100 - 50

20*m = 50

m = 50/20 = 2.5

now:

for m < 2.5, Gym A will be cheaper, because the y-intercept is smaller.

for m > 2.5, Gym B will be cheaper, because the slope is smaller,

Then depending on the number of months that Martin wants to go to the gym, he can se the info above to pick the one that is cheaper.

what is x-(3)/(5)=(5x)/(6)? with steps answer fast

Answers

hi

x- 3/5 =  5x/ 6  

6x - 18/5 =  5x

6x -5x =  18/5

     x = 18/5

   

let's check :      18/5 - 3/5 =  15/5 = 3

                         5 * 18/5   / 6  =    18/6 = 3

result is correct.

if 4/3h=12, then h = 16 true or falae​

Answers

false the answer will be 1/9

hsosjqndksowowlwksmzndnkwoa

Answers

Answer:

What do you want us to answer here?

Step-by-step explanation:

???

think of a number, subtract 3 then multiply by 4​

Answers

Answer:

7 - 3 = 4

4 x 4 = 16

Step-by-step explanation:

Answer:

36

Step-by-step explanation:

12-3= 9

9 times 4 =36

El valor de las variables

Answers

Answer:

25 / 2

Step-by-step explanation:

Find ( D × [tex]\frac{E}{F}[/tex] ) if D = 5, E = 10, F = 4

5 × [tex]\frac{10}{4}[/tex] = 25 / 2

Brian bought 20 apples. He bought twice as many as Timmy. How many apples did Timmy buy?

Answers

Answer:

10 apples

Step-by-step explanation:

if Person a bought twice as many apples as person b then it would be ten considering 10 x 2 = 20

eqaution: 10 divided by 2

Stuck on this last question​

Answers

Answer:

C.

because both of those decimals can be turned into fractions.

Step-by-step explanation:

Hope this helps and have a great day :)

Answer:

C

Step-by-step explanation:

.752 is a rational number and .232323... is a non-terminating repeating number, which is also rational

Find the measure of each angle

Answers

Answer:

Answer is in the screenshot provided.

Step-by-step explanation:

Work is also in the screenshot provided.

21-7y+3x-xy solve by factoring by grouping

Answers

Answer:

-(y-3)(x+7)

Step-by-step explanation:

Complete the table of values for this equation:

y = 4x +30

Enter your answer by filling in the boxes

Answers

Answer:

42, 46, and 50.

Step-by-step explanation:

We need to plug in each x value to find the y values.

1) y = 4(3) + 30

y = 12 + 30

y = 42

2) y = 4(4) + 30

y = 16 + 30

y = 46

3) y = 4(5) + 30

y = 20 + 30

y = 50

Find the area of the triangle whose one angle measure is 55°, the other angle is a right angle and the side opposite the 55° angle is 15 units.

Answers

Answer:

Step-by-step explanation:

Area of the right angles triangle will be expressed as;

Area of a triangle = 1/2base * height

Let the height of the triangle be 15 units

Get the base;

The base will be the adjacent;

Using the TOA trig identity;

tan 55 = opp/adj

tan 55 = 15/adj

adj = 15/tan 55

adj = 15/7.42

adj = 2.022 units

Area of the triangle = 1/2 * 15 * 2.022

Area of the triangle  = 15 * 1.011

Area of the triangle = 15.165units²

last night's Dansball game, there were 4 walks and 15 hits. Express the ratio of walks to hits , written in three different ways


Answers

Answer:

4/15, 4:15, 4 to 15

Step-by-step explanation:

Let W be the walks and H the hits, then,

WAY1:

[tex]\frac{W}{H} =\frac{4}{15}[/tex]

WAY2:

W:H⇒4:15

WAY3

W to H ⇒4 to 15

Find the approximate area under the curve by dividing the intervals into n subintervals and then adding up the areas of the inscribed rectangles. The height of each rectangle may be found by evaluating the function for each value of x. Your instructor will assign you n1and n2y = 2x underroot x^2 + 1 betwee x=0 and x=6 n1 and n2Find the exact area under the curve using integrationy = 2x underroot x^2 + 1 between x = 0 and x = 6
Explain the reason for the difference in your answers.
n1=12
n2=5

Answers

Answer and Step-by-step explanation: There are a number of ways of calculating an area under a curve. The more precise way is to use Definite Integral:

The function is [tex]2x\sqrt{x^{2}+1}[/tex], then the area under, with interval between 0 and 6 is:

[tex]\int\limits^6_0 {(2x\sqrt{x^{2}+1}) } \, dx[/tex]

To solve this integration, use substitution method, in which:

[tex]u=x^{2}+1[/tex]

[tex]\frac{du}{dx}=2x[/tex]

du = 2xdx

Replacing into the integral:

[tex]\int\limits^a_b {\sqrt{u} } \, du[/tex]

Solving:

[tex]\int\limits^a_b {\sqrt{u} } \, du=\frac{2}{3} \sqrt{u^{3}}[/tex]

Replacing it back to x:

[tex]\int\limits^6_0 {2x\sqrt{x^{2}+1} } \, dx =\frac{2}{3}\sqrt{(x^{2}+1)}[/tex]

Substituing limits between 0 and 6:

[tex]= \frac{2}{3}[\sqrt{(6^{2}+1)^{3}}-\sqrt{(0^{2}+1)^{3}} ][/tex]

= 149.37

Area under the curve using Integration is 149.37 square units

Another way of calculating area under the curve is dividing the area into a number of small rectangles and then adding the area of each one. This method is called Riemann Sums and it is an approximation of the area.

The method is done by the following relation:

in which

i is the n, the number of subintervals the area is dividing into

Δx is width of each subintervals.

For the function f(x) = [tex]2x\sqrt{x^{2}+1}[/tex], interval between 0 and 6:

subinterval n1 = 12:

[tex]\Delta x=\frac{6-0}{12}[/tex]

[tex]\Delta x=[/tex] 0.5

[tex]A=\Sigma f(x_{i}).\Delta x[/tex]

[tex]A = f(0)*0.5+f(0.5)*0.5+f(1)*0.5+f(1.5)*0.5+f(2)*0.5+f(2.5)*0.5+f(3)*0.5+f(3.5)*0.5+f(4)*0.5+f(4.5)*0.5+f(5)*0.5+f(5.5)*0.5[/tex]

[tex]A=0+1.12*0.5+2.83*0.5+...+50.99*0.5+61.49*0.5[/tex]

A = 131.575 square units

subinterval n2 = 5:

[tex]\Delta x=\frac{6-0}{5}[/tex]

Δx = 1.2

[tex]A=f(0)*1.2+f(1.2)*1.2+f(2.4)*1.2+f(3.6)*1.2+f(4.8)*1.2[/tex]

[tex]A=0*1.2+3.75*1.2+12.48*1.2+26.90*1.2+47.07*1.2[/tex]

A = 108.24 square units

Comparing results, notice that with less subintervals, the area is far from the exact measure. It occurs because Riemann Sums is an approximation method. So, if there are more subintervals, more approximate is the area, therefore, more precise it will be.

HELP ME ASAP!
What is the result when the number 44 is decreased by 75%?

Answers

Answer:

11

Step-by-step explanation:

Which of the following values are solutions to the inequality 5 < 7+ 5x?

Answers

Answer:

x can equal to anything that is 1 and higher

Step-by-step explanation:

The equation is already correct, you just want to get x as a number that would increase the value.

Write the augmented matrix for the system of linear equations. (Do not perform any row operations.)


x − y + 8z = 8

3x − 9y + z = −1

8x + y = 0

Answers

Answer:

Step-by-step explanation:

To create an augmented matrix, we need to transfer the coefficients of each system of equations into its respective place in the matrix. The first row will be the coefficients of the first equation and so on. The number to the right of the equals sign is the last column of the augmented matrix.

[tex]\left[\begin{array}{ccc|c}1&-1&8&8\\3&-9&1&-1\\8&1&0&0\end{array}\right][/tex]

Please help!!! I need to know the answer to this question quickly please

Answers

Which year group is this question from?

5. You make $50 a week and you want to buy a car with an expected payment of $200 a month.

Answers

Answer:

what is the question

Step-by-step explanation:

you will not have enough money to pay your car bill though

PLS HELP ME FAST WILL GIVE POINTS
Triangle PQR is transformed to triangle P′Q′R′. Triangle PQR has vertices P(9, 0), Q(6, 3), and R(−3, −6). Triangle P′Q′R′ has vertices P′(3, 0), Q′(2, 1), and R′(−1, −2). Plot triangles PQR and P′Q′R′ on your own coordinate grid.

Part A: What is the scale factor of the dilation that transforms triangle PQR to triangle P′Q′R′? Explain your answer. (4 points)

Part B: Write the coordinates of triangle P′′Q′′R′′ obtained after P′Q′R′ is reflected about the y-axis. (4 points)

Part C: Are the two triangles PQR and P′'Q′'R′' congruent? Explain your answer. (2 points)

Answers

Answer:

The scale factor of the dilation that transforms the triangle is 1/3

Step-by-step explanation:

9x1/3 is 3. 6x1/3 is 2, etc.

Which of the following values are solutions to the inequality 1 + 5x < 4?

Answers

Step-by-step explanation:

you cant add 1 to 5x, so subtract 1 on both sides leaving you with 1 + 5x < 4 that equals 5x < 3 -1 -1

then divide 5 from both sides 5x < 3 This leaves 5 5

you with x < 3/5

Please answer this correctly without making mistakes

Answers

Answer:

What is the question?

Step-by-step explanation:

Plz mark brainliest!!!



Which property is shown in the matrix addition below?
[-6 15 -2 ] + [6 -15 2 ] = [0 0 0

Answers

Answer:

The property shown in matrix addition given is "Additive Inverse Property"

Step-by-step explanation:

First of all lets define what a matrix is.

A matrix is an array of rows and columns that consists of numbers. There are several types of matrices. The one in our question is a row matrix which consists of only one row.

There are several addition properties for matrices.

One of them is additive inverse property. The additive inverse of a matrix consists of the same elements but their signs are changed.

Additive inverse property states that the sum of a matrix and its additive inverse is a zero matrix.

[tex]\left[\begin{array}{ccc}-6&15&-2\end{array}\right] + \left[\begin{array}{ccc}6&-15&2\end{array}\right] = \left[\begin{array}{ccc}0&0&0\end{array}\right][/tex]

Hence,

The property shown in matrix addition given is "Additive Inverse Property"

What is the value of k in the equation k/3-5=34

Answers

Answer: What is the value of k in the equation k/3-5=34

Step-by-step explanation: Solution for k/3-5=34 equation: k in (-oo:+oo) k/3-5 = 34 // - 34 k/3-34-5 = 0 1/3*k-39 = 0 // + 39 1/3*k = 39 // : 1/3 k = 39/1/3 k = 117 k = 117

Answer:

k = 117

Step-by-step explanation:

I was just learning this in class...

So basically you need to get the variable k by itself so you add 5 to -5 in the equation and leave k/3 alone and then you add 5 to the other side of the equation also so you add 34+5 and you get 37 so you get k/3=37 and now you multiply 3 by 3 to cancel it out and then you once again do it on the other side of the equation 37 x 3=117 soo that leads you too k=117 YAYYY!!

The enrollment at a small college each year is growing at a rate of 2%. If the college has 2,700 students in 2015, then which of the following models the population n years from 2015?

Answers

To show a constant increasing rate, multiply the number by 1.02.
2700x1.02=2754
2754 students in 2016
2754x1.02=2809 students in 2017
2809x1.02=2865 students in 2018
2865x1.02=2922 in 2019
2922x1.02=2981 in 2020

Faith invested \$1,100 in an account paying an interest rate of 5.1\% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 18 years?

Answers

Compounded Continuously:

A=Pe^{rt}

A=Pe

rt

P=1100\hspace{35px}r=0.051\hspace{35px}t=18

P=1100r=0.051t=18

Given values

A=1100e^{0.051(18)}

A=1100e

0.051(18)

Answer: 2,750

Explanation:

Plug in

A=1100e^{0.918}

A=1100e

0.918

Multiply

A=2754.70450683

A=2754.70450683

Use calculator (with e button)

A\approx 2750

A≈2750

Round to nearest ten dollars

please heart!

VVV                   and rate stars! VVV          :D

The amount of money after 18 years nearest to ten will be $2,750.

What is continuous compounding?

Theoretically, long-term average interest means that interest is continuously earned on a current account as well as reinvested into the balance to increase future interest earnings.

The equation is given as,

[tex]\rm A=P_o \times e^{r \times t}\\[/tex]

Faith invested $1,100 in an account paying an interest rate of 5.1% compounded continuously.

Then the amount after 18 years is calculated as,

[tex]\rm A = \$1,100 \times e^{0.051 \times 18}\\A = \$1,100 \times e^{0.918}[/tex]

Simplify the equation further, then we have

A = $1,100 x 2.504

A = $2,754.7

The amount of money after 18 years nearest to ten will be $2,750.

More about the continuous compounding link is given below.

https://brainly.com/question/19522540

#SPJ3

Find the least common multiple of 7,9 and 21

Answers

Free LCM Calculator determines the least common multiple (LCM) between 9 and 21 the smallest integer that is 63 that is divisible by both numbers. Least Common Multiple (LCM) of 9 and 21 is 63.
...
Prime Factorization of 21.
3 21
7 7
1

Find the slope of the line passing through the points (-3,-4) and (2, -4). Slope:

Answers

Answer:

0

Step-by-step explanation:

Slop of the line=y1-y2/x1-x2

Where x1,y1 point (-3,-4)

And X2,y2 point (2,-4)

So slop= (-4+4)/(-3-2)

=0/-5

So slop is 0

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