Tony Peyton, age 20, would like to have $1,000,000 by the time he is 65 years of age. If Tony could earn 6.9% annual interest compounded monthly, how much must he invest now to have $1,000,000 by the time he is 65?

Answers

Answer 1

Using compound interest, it is found that he must invest $45,225 now.

Compound interest:

[tex]A(t) = P\left(1 + \frac{r}{n}\right)^{nt}[/tex]

A(t) is the amount of money after t years.  P is the principal(the initial sum of money).  r is the interest rate(as a decimal value).  n is the number of times that interest is compounded per year.  t is the time in years for which the money is invested or borrowed.

In this problem:

He wants to have $1,000,000 in 65 - 20 = 45 years, hence [tex]t = 45, A(t) = 1000000[/tex].6.9% annual interest, hence [tex]r = 0.069[/tex].Compounded monthly, hence [tex]n = 12[/tex].

Then:

[tex]A(t) = P\left(1 + \frac{r}{n}\right)^{nt}[/tex]

[tex]1000000 = P\left(1 + \frac{0.069}{12}\right)^{12(45)}[/tex]

[tex]P = \frac{1000000}{(1.00575)^{540}}[/tex]

[tex]P = 45225[/tex]

He must invest $45,225 now.

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Answer 2

Answer:

He must invest $45,225


Related Questions

What part of 28 is 17?

Answers

17 is 60.7% percentage of the number 28.

What is Percentage?

percentage, a relative value indicating hundredth parts of any quantity.

We have to find what is 17 in 28.

To find this we have to multiply x with 100 and divide it by hundred which is equal to seventeen

x/100×28=17

0.28x=17

Zero point two eight times of x equal to seventeen

Divide both sides by 0.28

x=17/0.28

We get sixty point seven one percentage

x=60.71%

Hence,17 is 60.7% percentage of the number 28.

To learn more on Percentage click:

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f(x) = -x - 14
Find x if f(x) = -2

Answers

Answer:

x = -12

Step-by-step explanation:

First, you want to plug in f(x)'s value into the equation.

-2 = -x-14

Then solve for x:

x=-14+2

x=-12

show that 12n cannot end with the digit 0 or 5 for any natural number​

Answers

Answer:

Step-by-step explanation:

It can end with a 0.

For example 12 * 5 = 60.

Describe the possible length of the third side of the triangle given that the links of the other two sides of 5 inches and 12 inches

___in.

Answers

Answer:

60

Step-by-step explanation:

your welcome

Identify the diameter of the circle

Answers

The answer is O. The diameter of a circle is basically the length of one side to another. The radius is half of the diameter. I hope this helps :) have a good day/night!

Identify the solution set of the inequality, using the given replacement set.


x < –4; {–10, –4.3, –4, –3.9, 2, 6.5}
{–10, –4.3, –4}

1.{–10, –4.3, –4}


2.{–4, –3.9, 2}


3.{–10, –4.3}


4.{–3.9, 2}

Answers

Step-by-step explanation:

es el número 4[-3.9,2] esta es la respuesta

Solve for the variable PLEASE HELP

Answers

Answer a+ 4 - a-7 a-7 _5 = 37_6

Step-by-step explanation:

Answer:

a=-7

Step-by-step explanation:

Find least common multiplier

LCM=105

Multiply to function

a+4/3 *105- a/7= 105* a+7/5

Simplify

35(a+4)-15x=21(a+7)

Expand

20a+140=21a+147

Subtract 140 from both sides

20a=21a+7

Subtract 21a from both sides

-a=7

Divide both sides by -1

-a/-1=7/-1

a=-7

Adam has $87.14. He has 10 bills and 19 coins how ? Explain how you solved it .

Answers

Answer: $42

Step-by-step explanation:

This scatter plot shows the number of baskets made and the time in minutes that has passed.

Based on the information in the scatter plot, what is the best prediction for the number of baskets made in 16 minutes?


4 baskets

7 baskets

14 baskets

20 baskets

Answers

Scatter plots are used to relate variables using scattered dots.

The best prediction for the number of baskets made in 16 minutes is (c) 14 baskets

From the graph, we can see that the number of baskets made in 14 minutes is 12.

Also, from the graph; as the minutes increases, the number of baskets either remain the same or increases.

This means that, for 16 minutes, the number of baskets would either be 12 (same as 14 minutes) or greater.

The closest to 12 baskets in the option is 14.

Hence, the best prediction for the number of baskets made in 16 minutes is (c) 14 baskets

Read more about scatter plots at:

https://brainly.com/question/6592115

-0.5 (bar over 5) as a fraction simplified

Answers

Answer:

5/9

step by step follow up

Help me plsss pls psl​

Answers

It’s b
it’s not A because it’s not percentages it’s decimals using boxes as an example

Answer: A, B, D

it can’t be “C” because that would be equal to 40%

Is -9 a real or imaginary number?

Answers

A real number is a number that can represent any continuous quantity.It includes both rational and irrational numbers.Since, -9 is a rational number, then it is a real number.

Answer:

-9 is a real number.

Hope you could get an idea from here.

Doubt clarification - use comment section.

PLEASE HELP QUESTION IN PICTURE

Answers

i think it's A! definitely not C or D

please help me with this question

at the first blank there are options either (y-intercept, slope, x-intercept)

second blank (positive, negative, 0, a whole number)

Answers

Answer:

y-intercept

zero

Step-by-step explanation:

We can determine the differences between proportional and non-proportional situations or relationships. We all need to know that linear relationships can be represented as tables, words, equations, and graphs. The non-proportional relationship will affect the y-intercept in the graph and it will no longer than zero and the ratios in the table not be proportional.

I really need sum help plz

Answers

Answer:

32 Strawberries

Step-by-step explanation:

The amount of strawberries you need for 48 cups of juice is 32

I need some help :(
A)4
B)2.9
C)3.8

Answers

Answer: C

Step-by-step explanation:

10. Given m and b, write the equation of the line:

m=-4; b=2

Answers

Answer:

y= -4x + 2

Step-by-step explanation:

Y= mx + b is used to find the equation of the line

m=-4 a d b= 2

So, you put them into the equation.

Please help I was supposed to do this yesterday

If x=-4 and y= 9/2

Answers

Answer:

1/6([tex]3x^{2}[/tex]+4y)

Step-by-step explanation:

the answer is 11 if you plug in -4 for x and 9/2 for y

Tyler's brother Works
Tyler's brother earns $12 per hour. The store offers him a raise-a 5% increase per hour.
After the raise, how much will Tyler's brother make per hour?

Answers

Answer: $12.60 per hour

Step-by-step explanation:

5% of 12 is 0.60

12 + 0.60 = 12.60

Hope you have a great day

Answer:

$12.60 per hour

Step-by-step explanation:

5% of 12 is 0.60

and 12 + 0.60 = 12.60

Hope it makes sense

True or false: (log x)2 = 2logx. Explain your thinking.

Answers

False
Well we can’t put 2 log x it’s opposite it’s 2 x log

35. What is the 40th term of the arithmetic sequence
-17,-47, -77, -107...

Answers

Answer:

40th term = -1187

                 

PLEASE HELP!! With explanation/solution please!!

Answers

Step-by-step explanation:

Just sum the number of cows and buffaloes:

2p^2 - p + 4 + p^2 + p + 1 = 3p^2 +5 animals.

Answer:

Step-by-step explanation:

here is an explanation:

2p²-p+4+p²+p+1=3p²+5

You can add 2p² and p² because they are both squared (²). -p+p=0, because the first p is negative (-). Lastly, you can add 4+1=5. Hope this helped! Lmkp if you are still confused  :) <3

Help me please ******

Answers

Answer:

  it is

Step-by-step explanation:

The parallel horizontal sides are the same length, so the figure is a parallelogram.

given the polynomial 6x^4+3x^3-7x^2+4x+5 choose all the following statements that are true?




A. The polynomial has a degree of 6

B. The polynomial has a leading coefficient of 4

C. The polynomial has 4 terms

D. The polynomial has a degree of 4

E. The polynomial has a leading coefficient of 6

Answers

Answer:

D and E are true

Step-by-step explanation:

The degree of a polynomial is the value of the largest exponent of the variable within the polynomial, that is the term

6[tex]x^{4}[/tex]

Thus the polynomial is of degree 4 → D

The leading coefficient is the coefficient of the variable with the largest exponent, that is

6[tex]x^{4}[/tex]

The leading coefficient is 6 → E

question 19 of the attachment below

Answers

Answer:

The proof of area is [tex]\frac{3\sqrt{3} }{2} (p^{2}-1)x^{2}[/tex] is done

Step-by-step explanation:

Area of regular hexagon[tex]=6\times[/tex] Area of equilateral triangle

Area of regular hexagon ABCDEF with side [tex]x[/tex]

[tex]=6\times \frac{\sqrt{3} }{4} x^{2} \\\\= \frac{3\sqrt{3} }{2} x^{2}[/tex]

Area of regular hexagon FGHIJK with side [tex]px[/tex]

[tex]= \frac{3\sqrt{3} }{2} (px)^{2}\\\\=\frac{3\sqrt{3} }{2} p^{2}x^{2}[/tex]

Area of shaded region

[tex]=\frac{3\sqrt{3} }{2} p^{2}x^{2}-\frac{3\sqrt{3} }{2} x^{2}\\\\=\frac{3\sqrt{3} }{2} (p^{2}-1)x^{2}[/tex]

EASY 25 POINTS

Please help me with this math problem it is due tomorrow.

Answers

Answer:

D

Step-by-step explanation:

how many students are in the year group?

Answers

Answer:

372

Step-by-step explanation:

How many students attended school in recent years? In fall 2020, about 48.1 million students attended public schools in kindergarten to grade 12, ...

Missing: group ‎| Must include: group

To attend a class field trip, each student will have to pay 3$ for a theater ticket and $2.50 for transportation. If there are 200nstudents in the class, how much money will be collected for the field trip?​

Answers

Answer:

1100

Step-by-step explanation:

because everyone will be giving 5.5 dollars and if you multiply that with 200 you get 1100

Answer:

1,100

Step-by-step explanation:

Select the correct answer.
Which expression is equivalent to the difference shown?
5/m - m+8/ m^2-4m

Answers

The expression 5/m - (m+8)/(m^2-4m) is equivalent to 4(m-7)/m(m-4) option (C) is correct.

What is polynomial?

Polynomial is the combination of variables and constants in a systematic manner with "n" number of power in ascending or descending order.

We have a expression:

[tex]=\rm \frac{5}{m} - \frac{m+8}{m^2-4m}[/tex]

To simplified the above expression take the LCM  [tex]\rm m^2-4m[/tex]

[tex]=\rm \frac{5(m-4)-(m+8)}{m^2-4m}[/tex]

[tex]=\rm \frac{5m-20-m-8}{m^2-4m}[/tex]

[tex]=\rm \frac{4m-28}{m^2-4m}[/tex]

[tex]=\rm \frac{4(m-7)}{m(m-4)}[/tex]

Thus, the expression 5/m - (m+8)/(m^2-4m) is equivalent to 4(m-7)/m(m-4) option (C) is correct.

Learn more about Polynomial here:

brainly.com/question/17822016

Answer:

see photo

Step-by-step explanation:

Plato/Edmentum

Please answer this question Step by Step method.

If it is correct you will get a thank you and 5 stars from me.

Answers

Answer:

see explanation

Step-by-step explanation:

The perimeter P is the sum of the 4 sides of the rectangle.

The opposite sides of the rectangle are congruent , then

P = 2x + 1 + 2x + 1 + x + x ← collect like terms

P = 6x + 2

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