You invested your summer earnings into and annuity from which you can draw expenses while you are at university. If you need to withdraw $1200 each month for 9 months of university, how much do you need to invest into an account, earning 6% per year, compounded semi-annually, in order to cover your expenses?

Answers

Answer 1

Answer:

10538.07

Step-by-step explanation:

find the effective semiannual rate: .06/2= .03

conver this into an effective monthly rate

[tex](1.03)^2=(1+i)^{12}\\(1.03)^{1/6}-1=i\\i=.0049386220312[/tex]

this is our montlhy effective rate. use this to calculate teh present value of 9 1200 dollars payments

[tex]1200(\frac{1-(1+.0049386220312)^{-9}}{.0049386220312})=10538.0729871[/tex]

which rounds to 10538.07

Answer 2

The invested amount would be $10538.52 in order to cover your expenses if you need to withdraw $1200 each month for 9 months of university.

What is compound interest?

It is defined as the interest on the principal value or deposit and the interest which is gained on the principal value in the previous year.

We can calculate the compound interest using the below formula:

[tex]\rm A = P(1+\dfrac{r}{n})^{nt} \\\\\\rm A = P(1+\dfrac{r}{n})^{nt}+\dfrac{PMD((1+\dfrac{r}{n})^{nt}-1)}{\dfrac{r}{n}}[/tex]

Where A = Final amount

          P = Principal amount

          r  = annual rate of interest

          n = how many times interest is compounded per year

          t = How long the money is or borrowed (in years)


It is given that:

You need to withdraw $1200 each month for 9 months of university,

The effective semiannual rate = 0.06/2 = 0.03

[tex]\rm i = (1.03)^{1/6} - 1[/tex]

i = 0.00493

The invested amount:

[tex]= 1200\dfrac{[1- (1 + 0.00493)^{-9}]}{0.00493}[/tex]

After simplification:

= $10538.52

Thus, the invested amount would be $10538.52 in order to cover your expenses if you need to withdraw $1200 each month for 9 months of university.

Learn more about the compound interest here:

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Related Questions

Find the quotient. If possible, rename the quotient as a mixed number or a whole number. Write your answer in simplest form, 2 1/7 divided by 1 2/5 =?

Answers

Answer:

1 26/49

Step-by-step explanation=

2 1/7 ÷ 1 2/5

15/7 over 1 2/5

15/7 over 7/5  

75/49  

= 1 26/49

Does the graph represent a function?

Answers

Answer:

yes, it's a function

Step-by-step explanation:

downward facing parabola

1300 divided by 2 in hurry

Answers

Answer: 650

Step-by-step explanation:

1300 divided by 2 is 650

If you are psting your questions from an assignment i hope that its not against tos

Answer:

650

Step-by-step explanation:

this is the answer have a great day now!

Does this table represent a linear or nonlinear function? x= 1, 2, 5 & y= 4, 7, 16​

Answers

Answer:

  linear

Step-by-step explanation:

The function is linear if the ratio of changes in y to changes in x is the same for any set of (x, y) pairs.

  first two pairs: (y2 -y1)/(x2 -x1) = (7 -4)/(2 -1) = 3/1 = 3

  second two pairs: (y3 -y2)/(x3 -x2) = (16 -7)/(5 -2) = 9/3 = 3

The slopes between points are the same for any pair of points, so they all lie on the same line. The function is linear.

-5(x + 6) = -(5x-9)
Please give me answer!

Answers

Answer:

There is no solution to this equation.

Hope this helps :)

Answer:

no solution.

Step-by-step explanation:

carry the -5 and - sign and multiply the numbers within the () signs. so - 5×x and -5×6. which is -5x + -30. the other side will be -5x + 9. so then if you take away the -5x your left with -30 = 9 which is impossible.

Can someone pls help really quick


Given the following data points, determine the Mean, Median, Range, and Mode. Then split the data up into Quartiles and Quintiles.

65 57 72 76
98 65 55 69 67
80 64 5 37 8
92 31 54 51 36
Mean:

Median:

Mode:

Range:



The cost of producing a vanity license plate is c = $1000 +$8p where p is the number of plates you produce. Complete the table below:

Number of Plates Total Cost Cost per Plate
15
75
150
What is the minimum number of plates you need to produce in order to make a profit assuming you sell the plates for $20? What about if you sell the plates for $15?

Answers

Answer:

Step-by-step explanation:

Mean: 56.95

Median: 64

Mode: 65

Range: 93

15 plates = $1000 + 8(15) = $1120

75 plates = $1000 + 8(75) = $1600

150 plates = $1000 + 8(150) = $2200

What is the slope of the line containing the points (17,92) and
(21, 44)?

Answers

Answer:

-9.6

Step-by-step explanation:

92-44/17-21

Answer:

-12

Step-by-step explanation:

Formula:

[tex]\frac{y_2-y_1}{x_2-x_1}[/tex]

Identify the values:

[tex]y_2=44[/tex]

[tex]y_1=92[/tex]

[tex]x_2=21[/tex]

[tex]x_1=17[/tex]

Plugin the values; solve:

[tex]\frac{y_2-y_1}{x_2-x_1}[/tex]

[tex]\frac{44-92}{21-17}[/tex]

[tex]= \frac{-48}{4}[/tex]

[tex]\bold{m=-12}[/tex]

Therefore, the slope of the line containing the points (17,92) and

(21, 44) is -12.

A restaurant worker earns a set amount per hour from their employer. They also receive tips from customers. Their
earnings most closely rese]nble those of which of the following?
a. An employee working on straight commission
An employee working on commission plus salary
An employee working on a piece-rate basis
An employee working on a fixed salary
b.
C
d.
Please select the best answer from the choices provided
Ο Α
B
оооо
D
Mark this and return
Save and Exit
Next
Submit

Answers

Answer:

an employee working on commission plus salary.

Step-by-step explanation:

salary is the hourly rate

commission is tips

Answer:

B - An employee working on commission plus salary

Step-by-step explanation:

5^2 x 5^2 20 80 625 425

Answers

i’m confused about what you’re asking are we suppose to multiple or something

Only Number 17!!!!!

Thank You!!

Answers

Ok done. Thank to me :>

can you help me with this graph question ​

Answers

4,-5
explaination: sorry if not correct!

Answer:

D

Step-by-step explanation:

the Max Point is (2,6) so y=b

sorry if u dont get it

Need help a lot stuck

Answers

Answer:

yes, sounds linear.

this is an mx + b scenario.

here's the model:

y = )3/1)x + 50

or

y = 3x + 50

where the 1 in the slope denominator is a square foot.

valor de la incognita 9x+4 =5x+12?

Answers

Answer:

9x+4=5x+12

9x-5x=12-4

4x=8

x=2

Hey there!

Solve for x :

Answer :

x = 2 ✅

Explanation:

9x + 4 = 5x + 12

>> Substract 4 from both sides :

9x + 4 - 4 = 5x + 12 - 4

9x = 5x + 8

>> Substract 5x from both sides :

9x - 5x = 5x - 5x + 8

4x = 8

>> Divide both sides by 4 :

4x / 4 = 8 / 4

x = 2

Therefore, your answer is x = 2.

Learn more about equation :

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A middle school had a school spirit day. In one class the ratio of students who wore school colors to the number of students who didn’t was 8 to 5. Ten students didn’t wear school colors

Answers

Answer:

Step-by-step explanation:

Make the d subject of the formula c = kd^2 + e

Answers

[tex]c = k {d}^{2} + e \\ = > c - e = k {d}^{2} \\ = > {d}^{2} = \frac{c - e}{k} \\ = > d = \sqrt{ \frac{c - e}{k} } [/tex]

Hope you could get an idea from here.

Doubt clarification - use comment section.

Betty had 1 1/4 hours to finish a test. She was nervous and it took her 1/2 an hour to calm down. How much time did she have left to finish the test? Express the answer as a mixed number.

Answers

Answer:

Betty had 45 minutes to take her test in mixed number form it is

Step-by-step explanation:

1 hour

1/4 an hour = 15 minutes

1/2 an hour is 30 minutes

1 hr 15- 30= 45

45= 3/4 of and hour remaining to test

The position of a scuba diver relative to the water surface was −22 1/3 feet. He saw something interesting beneath him and increased his depth by 12 1/2 feet.

What is the position of the scuba diver now relative to the water surface?

Enter your answer as a mixed number, in simplified form, in the box.

Answers

Answer=-34 5/6

Explanation= just do this: -22 1/3 - 12 1/2
You subtract since the diver is diving deeper DOWN

Answer:

-34 5/6

Step-by-step explanation:

Hope this helps

Have a blessed day

Distributive property to remove parentheses 4(3+w)

Answers

Answer:

12+4w

Step-by-step explanation:

Multiply 4 by both sides

The heights of NFL football players are approximately normally distributed with a mean of 71.5 inches and a standard deviation of 2.3 inches. The middle 75% of all NFL players have heights between
(A) 68.9 inches to 76.1 inches
(B) 69.2 inches to 73.8 inches
(C) 68.9 inches to 74.1 inches
(D) 66.9 inches to 76.1 inches
(E) None of the above give an accurate interval

Answers

Answer:

I would say B

Step-by-step explanation:

I'm sorry, I don't have an explanation

The middle 75% of all NFL players have heights between in (A) 68.9 inches to 76.1 inches.

What is Standard score?

It is the representation of a data value in terms of distance from standard deviation from the mean. It is also called z-score.

It measures how many standard deviations the measure is from the mean. After finding the z-score, we have to look at the z-score table and then the p-value associated with this z-score, which is the percentile of X.

Given that Mean = μ = 64.4 inches

Standard Deviation = σ = 2.3 inches

We have to find the standard score for players height;

So, Let x = 75% = 0.75

Therefore the formula for z-score is:

x - mean / S.D

0.75 = x - 71.5/2.3

x = 76.10

Rounding off to nearest hundredth

z-score = 76.1

Hence, The middle 75% of all NFL players have heights between in

(A) 68.9 inches to 76.1 inches.

Learn more about z-score at:

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HELP ME ASAP!!!
Question 3(Multiple Choice Worth 5 points)
(04.04 MC)

If a sprinkler waters 1 over 15 of a lawn in 1 over 3 hour, how much time will it take to water the entire lawn?

5 hours
15 hours
18 hours
45 hours

Answers

It would take 5 hours.

1/15 of the lawn in 1/3 hours means it takes 1 hour to water 3/15 of the lawn aka 1/5

1/5 of the lawn in 1 hour would mean it takes 5 hours to finish watering the entire lawn.

HELP MEEEEEEEEEEEEEEEEE!
X +(X+1)+...+2020+2021=2021

Answers

If x is an integer, and

x + (x + 1) + … + 2020 + 2021 = 2021

then of course

x + (x + 1) + … + 2020 = 0

and we can write the left side as a sum,

[tex]\displaystyle \sum_{k=0}^n (x+k) = 0[/tex]

with n such that x + n = 2020. (Notice that there are n + 1 terms in the sum.) Then x = 2020 - n, so that

[tex]\displaystyle \sum_{k=0}^n (2020 - n + k) = (2020 - n) \sum_{k=0}^n 1 + \sum_{k=0}^n k= 0[/tex]

Recall that

[tex]\displaystyle \sum_{k=1}^n 1 = 1 + 1 + 1 + \cdots + 1 = n[/tex]

[tex]\displaystyle \sum_{k=1}^n 1 = 1 + 2 + 3 +  \cdots + n = \frac{n(n+1)}2[/tex]

Then

[tex]\displaystyle (2020 - n) (n + 1) + \frac{n(n+1)}2= 0[/tex]

Solve for n :

(2020 - n) (n + 1) + n (n + 1) / 2 = 0

4040 + 4039 n - n² = 0

(n - 4040) (n + 1) = 0

⇒   n = 4040   or   n = -1

But we are taking the sum of a positive number of terms, so n = 4040.

Then since x + n = 2020, it follows that x = 2020 - 4040 = -2020.

$22.66 is 2% of what number

Answers

Answer:

1,133

Step-by-step explanation:

2%=0.02

$22.66÷0.02=$1,133

A researcher at the Centers for Disease Control and Prevention is studying the growth of a certain bacteria. He starts his experiment with 500 bacteria that grow at a rate of 16% per hour. He will check on the bacteria every 8 hours. How many bacteria will he find in 8 hours? Round your answer to the nearest whole number.

Answers

The population of the bacteria after 8 hours is 1639 bacteria.

An exponential function is given by:

y = abˣ

where y, x are variables, a is the initial value of y and b is the multiplier.

Let y represent the population of bacteria after x hours.

Given that he starts his experiment with 500 bacteria, hence

a = 500

The bacteria grow at a rate of 16% per hour, hence:

b = 100% + 16% = 1.16

The exponential equation becomes:

y = 500(1.16)ˣ

After 8 hours:

y = 500(1.16)⁸ = 1639

The population of the bacteria after 8 hours is 1639 bacteria.

Find out more at: https://brainly.com/question/12490064

This question on your unit test is a fill in the blank. Be prepared to type your answer. The graph show how many minutes it takes Ziah to run a certain distance in the city. What is the meaning of the point (4, 6)?​

Answers

The point (4,6) means it took Ziah 4 minutes to run 6 blocks.

This is because any point is of the form (x,y) where in this case

x = number of minutes

y = number of blocks

Total score:
of 15 points
(Score for Question 1: of 5 points)
1. Graph the function f(x) = sin(x)-2.
Answer:

Answers

Answer:

Step-by-step explanation:

please help ill mark brainliestO​

Answers

Answer:

AA, SAS, SSS

Step-by-step explanation:

These three theorems can be used to find similar triangles.

- 4x – 4y = 24
3x + 10 = y

Answers

Answer:

x=-4,\:y=-2

Step-by-step explanation:

Answer:

x=-4

y=-2

Step-by-step explanation:

-4x-4y=24. .........1

3x+10=y...........2

since y is already isolated in equation 2 we can substitute the y value

subs 2 into 1

-4x-4(3x+10)=24.

-4x-12x-40=24

-16x=24+40

x=-4.....3

subs 3 into 2

3(-4)+10=y

-12+10=y

-2=y

what are the measurements of 1 and 2?

Answers

Answer:

8 tablespoons1/2 cup4 ounces10 tablespoons plus 2 teaspoons2/3 cup5.2 ounces12 tablespoons3/4 cup6 ounces16 tablespoons1 cup8 ounces

I will give Brainliest, plz help!! ​

Answers

Answer:

with what?

Step-by-step explanation:

??

Omar deposited $4000 into an account with 4.4% interest, compounded quarterly. Assuming that no withdrawals are made, how much will he have in the account after 10 years?

Do not round any intermediate computations, and round your answer to the nearest cent. ​

Answers

The formula you want is: fv=p(1+int/c)^(nc)
future value
principal
int
compound
years
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