If you can't start saving that early in your careerat the age of 24until you retire at 64, you will need to save more each month.  How much would you need to save each month during the last 30 years of your career to have $700,000 when you retire?  (Still assuming your retirement account earns an APR of 4%.)

Q: You have an opportunity to invest in a fund that has a yearly interest rate of 6%. How much should…

A: From the given information, it is observed that FV = $15,000, r = 6%, that is, r =0.06 and t = 3.…

Q: How much simple interest would an investment of $2500 earn at the end of 10 years if the interest…

A: Given p=2500, rate =10% per year, time = 10 year

Q: Suppose that you invested in a mutual fund that guaranteed 6.5% annual interest, compounded monthly.…

A: given p=principle=$3500r=rate per annum=6.5%n=4 =time we have find A…

Q: You want to be able to withdraw $40,000 from your account each year for 25 years after you…

A:

Q: To save for graduate school, a student invests $1470 semiannually in an ordinary annuity with 3%…

A: To save for graduate school, a student invests $1470 semiannually in an ordinary annuity with 3%…

Q: Matilda wishes to retire at age 67 with $1,300,000 in her retirement account when she turns 28 she…

A: Introduction: Suppose, a person deposits an amount P at rate of r% compound interest compounded n…

Q: $3000 is invested for 19 years with an APR of 3.88% and monthly compounding, The account balance…

A:

Q: How much should be invested now at 3.85% interest compounded monthly to have $28,000 in 16 years?…

A:

Q: A community outreach program wants to set up a scholarship fund for students who demonstrate…

A: Formula for compound interest is,Intererst=invested amount1+interest ratenumber of times interest…

Q: You want to be able to withdraw $45,000 from your account each year for 30 years after you retire.…

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Q: You deposit $800 every six months into an account that pays 7% p.a interest compounded…

A: Given query is to find the amount of interest earned in 30 years.

Q: How much would you need to deposit in an account now in order to have $5000 in the account in 5…

A: Given, A = Accrued amount = $5000 r = Interest rate = 0.02 n = number of months = 5 t = time…

Q: You want to be able to withdraw $20,000 from your account each year for 20 years after you retire.…

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Q: You have $10,000 that you are considering whether to invest . If you invest it in an account that…

A: We can make it easier for you

Q: o create a college fund for your child. Suppose you find a fund that offers an APR of 6%. How much…

A: We are given: APR=6%=0.06A=Amount after time t=$89000n=Number of months in a year=12Y=Number of…

Q: How much would you need to deposit in an account now in order to have $2000 in the account in 5…

A: Let A(t)= amount in t years.P= Prinicipal(Original investment)r=Annual interest rate(in decimal…

Q: You want to have a $50,000 college fund in 12

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Equations and Inequations

Equations and inequalities describe the relationship between two mathematical expressions.

Linear Functions

A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.