16. How much money will I need to have at retirement so I can withdraw $60,000 a year for 20 years from an account earning 8% compounded annually? a. How much do you need in your account at the beginning b. How much total money will you pull out of the account? c. How much of that money is interest?

Answers

Answer 1

Answer:

starting balance: $636,215.95total withdrawals: $1,200,000interest withdrawn: $563,784.05

Step-by-step explanation:

a) If we assume the annual withdrawals are at the beginning of the year, we can use the formula for an annuity due to compute the necessary savings.

The principal P that must be invested at rate r for n annual withdrawals of amount A is ...

  P = A(1+r)(1 -(1 +r)^-n)/r

  P = $60,000(1.08)(1 -1.08^-20)/0.08 = $636,215.95

__

b) 20 withdrawals of $60,000 each total ...

  20×$60,000 = $1,200,000

__

c) The excess over the amount deposited is interest:

  $1,200,000 -636,215.95 = $563,784.05


Related Questions

A toy falls from a window 80 feet above the ground. How long does it take the toy to hit the​ ground?

Answers

Answer:

2.24 s

Step-by-step explanation:

Given:

Δy = 80 ft

v₀ = 0 ft/s

a = 32 ft/s²

Find: t

Δy = v₀ t + ½ at²

80 ft = (0 ft/s) t + ½ (32 ft/s²) t²

t = 2.24 s

CAN SOMEONE HELP ME ASAP







A. 5
B. 53‾√53
C. 10
D. 103√3

Answers

Answer:

n = 5

Step-by-step explanation:

Since this is a right triangle, we can use trig functions

tan theta = opp/ adj

tan 30 = n/ 5 sqrt(3)

5 sqrt(3) tan 30 = n

5 sqrt(3) * 1/ sqrt(3) = n

5 = n

The Ball Corporation's beverage can manufacturing plant in Fort Atkinson, Wisconsin, uses a metal supplier that provides metal with a known thickness standard deviation σ = .000586 mm. Assume a random sample of 59 sheets of metal resulted in an x¯ = .2905 mm. Calculate the 95 percent confidence interval for the true mean metal thickness.

Answers

Answer:

The 95 percent confidence interval for the true mean metal thickness is between 0.2903 mm and 0.2907 mm

Step-by-step explanation:

We have that to find our [tex]\alpha[/tex] level, that is the subtraction of 1 by the confidence interval divided by 2. So:

[tex]\alpha = \frac{1-0.95}{2} = 0.025[/tex]

Now, we have to find z in the Ztable as such z has a pvalue of [tex]1-\alpha[/tex].

So it is z with a pvalue of [tex]1-0.025 = 0.975[/tex], so [tex]z = 1.96[/tex]

Now, find the margin of error M as such

[tex]M = z*\frac{\sigma}{\sqrt{n}}[/tex]

In which [tex]\sigma[/tex] is the standard deviation of the population and n is the size of the sample.

[tex]M = 1.96\frac{0.000586}{\sqrt{59}} = 0.0002[/tex]

The lower end of the interval is the sample mean subtracted by M. So it is 0.2905 - 0.0002 = 0.2903 mm

The upper end of the interval is the sample mean added to M. So it is 0.2905 + 0.0002 = 0.2907 mm

The 95 percent confidence interval for the true mean metal thickness is between 0.2903 mm and 0.2907 mm

Julie has three boxes of pens. The diagram shows expressions for the number of pens in each box. Look at these equations.
Equals B +12
B equals C +4
Write an equation to show the relationship between a + c

Answers

Answer:

a=c+16

here,

a=b+12

b=a-12----> equation (i)

b= c+4

putting the value of b from the equation (I)

a-12=c+4

a=c+4+12

a=c+16

hope this helps...

Good luck on your assignment...

The value of a + c is 16.

What is Algebra?

A branch of mathematics known as algebra deals with symbols and the mathematical operations performed on them.

Variables are the name given to these symbols because they lack set values.

In order to determine the values, these symbols are also subjected to various addition, subtraction, multiplication, and division arithmetic operations.

Given:

a=b+12

So, b=a-12 ---- equation (i)

and, b= c+4

Substitute the value of b from the equation (I)

a-12=c+4

a=c+4+12

a=c+16

Hence, the value of a+ c is 16.

Learn more about Algebra here:

https://brainly.com/question/24875240

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You want to install a 1 1 yd wide walk around a circular swimming pool. The diameter of the pool is 23 yd. What is the area of the​ walk? Use 3.14 for pi π.

Answers

Complete Question:

You want to install a 1 yd wide walk around a circular swimming pool. The diameter of the pool is 23 yd. What is the area of the​ walk? Use 3.14 for pi π.

Answer:

75.36 square yard

Step-by-step explanation:

From the question,

The diameter of this circular pool inside is 23 yd.

This means that the radius = Diameter/2 = 23yd/2 = 11.5 yd.

The formula for the area of a circle =

A = πr²

A = π(11.5)²

A =3.14 × 11.5²

A = 415.265 yd²

This is the Area of the inner circle.

We were told in the question also that he wants to install a walk of 1 yard

Hence, the radius of outer circle =

radius of inner circle +length of the walk

11.5yard + 1 yard

= 12.5 yard

A = πr²

A = 3.14 × (12.5)²

A = 490.625yd²

Area of the walk = Area of the Outer circle - Area of the inner circle

= (490.625 - 415.265)yd = 75.36 yd²

Therefore, the area of the walk is 75.36 square yards.

The curvature of a plane parametric curve x = f(t), y = g(t) is $ \kappa = \dfrac{|\dot{x} \ddot{y} - \dot{y} \ddot{x}|}{[\dot{x}^2 + \dot{y}^2]^{3/2}}$ where the dots indicate derivatives with respect to t. Use the above formula to find the curvature. x = 6et cos(t), y = 6et sin(t)

Answers

Answer:

The curvature is modelled by [tex]\kappa = \frac{e^{-t}}{6\sqrt{2}}[/tex].

Step-by-step explanation:

The equation of the curvature is:

[tex]\kappa = \frac{|\dot {x}\cdot \ddot {y}-\dot{y}\cdot \ddot{x}|}{[\dot{x}^{2}+\dot{y}^{2}]^{\frac{3}{2} }}[/tex]

The parametric componentes of the curve are:

[tex]x = 6\cdot e^{t} \cdot \cos t[/tex] and [tex]y = 6\cdot e^{t}\cdot \sin t[/tex]

The first and second derivative associated to each component are determined by differentiation rules:

First derivative

[tex]\dot{x} = 6\cdot e^{t}\cdot \cos t - 6\cdot e^{t}\cdot \sin t[/tex] and [tex]\dot {y} = 6\cdot e^{t}\cdot \sin t + 6\cdot e^{t} \cdot \cos t[/tex]

[tex]\dot x = 6\cdot e^{t} \cdot (\cos t - \sin t)[/tex] and [tex]\dot {y} = 6\cdot e^{t}\cdot (\sin t + \cos t)[/tex]

Second derivative

[tex]\ddot{x} = 6\cdot e^{t}\cdot (\cos t-\sin t)+6\cdot e^{t} \cdot (-\sin t -\cos t)[/tex]

[tex]\ddot x = -12\cdot e^{t}\cdot \sin t[/tex]

[tex]\ddot {y} = 6\cdot e^{t}\cdot (\sin t + \cos t) + 6\cdot e^{t}\cdot (\cos t - \sin t)[/tex]

[tex]\ddot{y} = 12\cdot e^{t}\cdot \cos t[/tex]

Now, each term is replaced in the the curvature equation:

[tex]\kappa = \frac{|6\cdot e^{t}\cdot (\cos t - \sin t)\cdot 12\cdot e^{t}\cdot \cos t-6\cdot e^{t}\cdot (\sin t + \cos t)\cdot (-12\cdot e^{t}\cdot \sin t)|}{\left\{\left[6\cdot e^{t}\cdot (\cos t - \sin t)\right]^{2}+\right[6\cdot e^{t}\cdot (\sin t + \cos t)\left]^{2}\right\}^{\frac{3}{2}}} }[/tex]

And the resulting expression is simplified by algebraic and trigonometric means:

[tex]\kappa = \frac{72\cdot e^{2\cdot t}\cdot \cos^{2}t-72\cdot e^{2\cdot t}\cdot \sin t\cdot \cos t + 72\cdot e^{2\cdot t}\cdot \sin^{2}t+72\cdot e^{2\cdot t}\cdot \sin t \cdot \cos t}{[36\cdot e^{2\cdot t}\cdot (\cos^{2}t -2\cdot \cos t \cdot \sin t +\sin^{2}t)+36\cdot e^{2\cdot t}\cdot (\sin^{2}t+2\cdot \cos t \cdot \sin t +\cos^{2} t)]^{\frac{3}{2} }}[/tex]

[tex]\kappa = \frac{72\cdot e^{2\cdot t}}{[72\cdot e^{2\cdot t}]^{\frac{3}{2} } }[/tex]

[tex]\kappa = [72\cdot e^{2\cdot t}]^{-\frac{1}{2} }[/tex]

[tex]\kappa = 72^{-\frac{1}{2} }\cdot e^{-t}[/tex]

[tex]\kappa = \frac{e^{-t}}{6\sqrt{2}}[/tex]

The curvature is modelled by [tex]\kappa = \frac{e^{-t}}{6\sqrt{2}}[/tex].

Graph the line y=-1/3x+2

Answers

Answer:

Graphed below.

Step-by-step explanation:

The slope of the line is -1/3.

The y-intercept is at (0, 2).

The x-intercept is at (6, 0).

Lee watches TV for 2 hours per day. During that time, the TV consumes 150 watts per hour. Electricity costs (12 cents)/(1 kilowatt-hour). How much does Lee's TV cost to operate for a month of 30 days?

Answers

Answer:

$1.08

Step-by-step explanation:

30 days × (2 hrs/day) × (150 W) × (1 kW / 1000 W) × (0.12 $/kWh) = $1.08

The mean and standard deviation of a random sample of n measurements are equal to 34.5 and 3.4, respectively.A. Find a 95 % confidence interval for μ if n=49.B. Find a 95% confidence interval for μ if n=196.C. Find the widths of the confidence intervals found in parts a and b.D. What is the effect on the width of a confidence interval of quadrupling the sample size while holding the confidence coefficient fixed?1. Quadrupling the sample size while holding the confidence coefficient fixed decreases the width of the confidence interval by a factor of 4.2. Quadrupling the sample size while holding the confidence coefficient fixed increases the width of the confidence interval by a factor of 2.3. Quadrupling the sample size while holding the confidence coefficient fixed increases the width of the on confidence interval by a factor of 4.4. Quadrupling the sample size while holding the confidence coefficient fixed does not affect the width of the confidence interval.5. Quadrupling the sample size while holding the confidence coefficient fixed decreases the width of the confidence interval by a factor of 2.

Answers

Answer:

a. The 95% confidence interval for the mean is (33.52, 35.48).

b. The 95% confidence interval for the mean is (34.02, 34.98).  

c. n=49 ⇒ Width = 1.95

n=196 ⇒ Width = 0.96

Note: it should be a factor of 2 between the widths, but the different degrees of freedom affects the critical value for each interval, as the sample size is different. It the population standard deviation had been used, the factor would have been exactly 2.

d. 5. Quadrupling the sample size while holding the confidence coefficient fixed decreases the width of the confidence interval by a factor of 2.

Step-by-step explanation:

a. We have to calculate a 95% confidence interval for the mean.

The population standard deviation is not known, so we have to estimate it from the sample standard deviation and use a t-students distribution to calculate the critical value.

The sample mean is M=34.5.

The sample size is N=49.

When σ is not known, s divided by the square root of N is used as an estimate of σM:

[tex]s_M=\dfrac{s}{\sqrt{N}}=\dfrac{3.4}{\sqrt{49}}=\dfrac{3.4}{7}=0.486[/tex]

The degrees of freedom for this sample size are:

[tex]df=n-1=49-1=48[/tex]

The t-value for a 95% confidence interval and 48 degrees of freedom is t=2.011.

The margin of error (MOE) can be calculated as:

[tex]MOE=t\cdot s_M=2.011 \cdot 0.486=0.98[/tex]

Then, the lower and upper bounds of the confidence interval are:

[tex]LL=M-t \cdot s_M = 34.5-0.98=33.52\\\\UL=M+t \cdot s_M = 34.5+0.98=35.48[/tex]

The 95% confidence interval for the mean is (33.52, 35.48).

b. We have to calculate a 95% confidence interval for the mean.

When σ is not known, s divided by the square root of N is used as an estimate of σM:

[tex]s_M=\dfrac{s}{\sqrt{N}}=\dfrac{3.4}{\sqrt{196}}=\dfrac{3.4}{14}=0.243[/tex]

The degrees of freedom for this sample size are:

[tex]df=n-1=196-1=195[/tex]

The t-value for a 95% confidence interval and 195 degrees of freedom is t=1.972.

The margin of error (MOE) can be calculated as:

[tex]MOE=t\cdot s_M=1.972 \cdot 0.243=0.48[/tex]

Then, the lower and upper bounds of the confidence interval are:

[tex]LL=M-t \cdot s_M = 34.5-0.48=34.02\\\\UL=M+t \cdot s_M = 34.5+0.48=34.98[/tex]

The 95% confidence interval for the mean is (34.02, 34.98).

c. The width of the intervals is:

[tex]n=49\rightarrow UL-LL=33.52-35.48=1.95\\\\n=196\rightarrow UL-LL=34.02-34.98=0.96[/tex]

d. The width of the intervals is decreased by a factor of √4=2 when the sample size is quadrupled, while the others factors are fixed.

The volume of a gas in a container varies inversely with the pressure on the gas. A container of helium has a volume of 370in3 under a pressure of 15psi (pounds per square inch). Write the equation that relates the volume, V, to the pressure, P. What would be the volume of this gas if the pressure was increased to 25psi?

Answers

Answer:

Step-by-step explanation:

When two variables vary inversely, it means that an increase in one would lead to a decrease in the other and vice versa. Since the volume of a gas, V in a container varies inversely with the pressure on the gas, P, if we introduce a constant of proportionality, k, the expression would be

V = k/P

If V = 370 in³ and P = 15psi, then

370 = k/15

k = 370 × 15 = 5550

The equation that relates the volume, V, to the pressure, P would be

V = 5550/P

if the pressure was increased to 25psi, the volume would be

V = 5550/25 = 222 in³

Answer:

v=5550/p

222

Step-by-step explanation:

A scooter runs 40 km using 1 litre of petrol tje distance covered by it using 15/4 litres of petrol is

Answers

Answer:

150 km

Step-by-step explanation:

1 liter ............ 40 km

15/4 liter .........x km

x = 15/4×40/1 = 600/4 = 150 km

Cheryl bought 3.4 pounds of coffee that cost $6.95 per pound . How many did she spend on coffee

Answers

Answer:

23.63

Step-by-step explanation:

multiply the cost by the pounds

Answer:

$23.63

Step-by-step explanation:

3.4 X 6.95 = 23.63

An experiment consists of dealing 7 cards from a standard deck of 52 playing cards. What is the probability of being dealt exactly 4 clubs and 3 spades?

Answers

Answer: 0.00153

Step-by-step explanation:

Given: An experiment consists of dealing 7 cards from a standard deck of 52 playing cards.

Number of ways of dealing 7 cards from 52 cards = [tex]^{52}C_7[/tex]

Since there are 13 clubs and 13 spades.

Number of ways of getting exactly 4 clubs and 3 spades=[tex]^{13}C_4\times\ ^{13}C_3[/tex]

Now, the probability of being dealt exactly 4 clubs and 3 spades

[tex]=\dfrac{^{13}C_4\times\ ^{13}C_3}{^{52}C_7}\\\\\\=\dfrac{{\dfrac{13!}{4!(9!)}\times\dfrac{13!}{3!10!}}}{\dfrac{52!}{7!45!}}\\\\=\dfrac{715\times286}{133784560}\\\\=0.00152850224271\approx0.00153[/tex]

Hence,  the probability of being dealt exactly 4 clubs and 3 spades = 0.00153

A 12 sided die is rolled the set of equally likely outcomes is 123 456-789-10 11 and 12 find the probability of rolling a number greater than three

Answers

Answer:

6

Step-by-step explanation:

nerd physics

Which of the following is false? Correlation coefficient and the slope always have the same sign (positive or negative). If the correlation coefficient is 1, then the slope must be 1 as well. If the correlation between two variables is close to 0.01, then there is a very weak linear relation between them. Correlation measures the strength of linear association between two numerical variables.

Answers

Answer:

If the correlation coefficient is 1, then the slope must be 1 as well.

Step-by-step explanation:

Coefficient of correlation is used in statistics to determine the relationship between two variables. Correlation coefficient and slope always have same sign. It measures the strength of linear relation between two variables. The values of correlation coefficient ranges between 0 to 1. where 0 determines that there is no relationship between two variables.

If the correlation coefficient is 1, then the slope must be 1 as well.

The correlation coefficient (ρ) is a measure that determines the degree to which the movement of two different variables is associated.

Correlation coefficient and the slope  both quantify the direction and strength of the relationship between two numeric variables. When the correlation (r) is negative, the regression slope (b) will be negative. When the correlation is positive, the regression slope will be positive.If the correlation between two variables is close to 0.01, then there is a very weak linear relation between them.

So, the false statement is:

If the correlation coefficient is 1, then the slope must be 1 as well.

Learn more:https://brainly.com/question/16557696

The population of Adamsville grew from 6000 to 13000 in 7 years. Assuming uninhibited exponential growth, what is the expected population in an additional 3 years?

Answers

Answer:

18107.32

Step-by-step explanation:

Set up the exponential function in the form:

       [tex]P = P_0(R)^t[/tex]

so P is the new population, [tex]P_0[/tex] is the original population, R is the rate of increase in population, and t is the time in years.

You have to use the information given to find the rate that the population is increasing and then use that rate to find the new population after more time passes.

[tex]13000 = 6000(R)^7\\\\\\frac{13000}{6000} = R^7\\\\\sqrt[7]{\frac{13000}{6000} } = R\\\\\\ R = 1.116786872[/tex]

Now that you found the rate, you can use the function to find the population after another 3 years.

[tex]P = 13000(1.116786872)^3\\P = 18107.32317\\[/tex]

So the population is 18107, rounded to the nearest whole number.

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