max is a 22 year old planning to retire at age 67 he is i vesting in a mutual fund and hopes to earn the average inflation adjusted stock market return of 7% anually. If max deposits $200 per month into this fund, how much can he expect to have when he retires? Show work

Answers

Answer 1

Based on the calculation below, the amount Max can be expected to have when he retires is $758,518.94.

How to calculate the future value (FV)?

The amount he will be expected to have when he retires can be calculated using the formula for calculating the future value of an ordinary annuity as follows:

FV = D * (((1 + r)^n – 1) / r) ……………………………….. (1)

Where;

FV = Future value or the expected amount when he retires = ?

D = Monthly deposit = $200

r = monthly average inflation adjusted stock market return = 7% / 12 = 0.07 / 12 = 0.00583333333333333

n = number of months = (67 -  22) * 12 = 540

Substituting the values into equation (1), we have:

FV = $200 * (((1 + 0.00583333333333333)^540 – 1) / 0.00583333333333333)

FV = $758,518.94

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Related Questions

The volume of a fish tank is 70 cubic feet. If the density is 0.4 fish over feet cubed, how many fish are in the tank?

175
88
28
14

Answers

Answer:

28 fish is the correct answer

Step-by-step explanation:.

The number of fish in the fish tank will be 28.

What is a volume?

Volume is defined as the space occupied by any object in the three-Dimensions. All three parameters are required for the volume like length, width, and height of the Cuboid.

The density of the fish is defined as the number of fish per unit volume of the tank.

Given that volume of a fish tank is 70 cubic feet and the density is 0.4 fish over feet cubed.

The number of fish is calculated as below:-

Number = Volume of tank x Density of fish

Number = 70 x 0.4

Number = 28 fish

Therefore, the number of fish in the fish tank will be 28.

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Which expression is equivalent to the following expression: 15 + 6x A. 3(5 +2x) B. 3(5 + 6x) C. 21x D. 15(6x)​

Answers

it’s on photomath ifyou have it

Answer:

nt cbhhujvti'

Step-by-step explanation:

Can someone please help me I will mark u brilliant

Answers

Answer:

I believe the answer is 1/12

Step-by-step explanation:

the volume of a rectangular prism is length × width × height

Answer:

[tex] \frac{1}{12} \: cubic \: foot[/tex]

Step-by-step explanation:

[tex]V_{box} = lbh \\ = 1 \frac{1}{2} \times \frac{1}{6} \times \frac{1}{3} \\ \\ = \frac{ \cancel3}{2} \times \frac{1}{6} \times \frac{1}{ \cancel3} \\ \\ = \frac{1}{12} \: cubic \: foot[/tex]

Work out the size of angle x

Answers

Answer:

65°

Step-by-step explanation:

What is the probability of the following
1. P (0< z < 1.46)?​

Answers

Answer:

Approximately [tex]0.428[/tex].

Step-by-step explanation:

(This approach requires looking up values on a [tex]z[/tex]-table. Calculators aren't required.)

A typical [tex]z[/tex]-table lists probabilities in the form [tex]P(Z \le z)[/tex] (or equivalently, [tex]P(Z < z)[/tex],) where [tex]z\![/tex] is real number (typically greater than or equal to [tex]0[/tex].)

However, the question asks for a probability in the form [tex]P(a < Z < b)[/tex]. It would be necessary to rewrite this probability for this [tex]\!z[/tex]-table approach to work.

Let [tex]a[/tex] and [tex]b[/tex] denote two real numbers, with [tex]b > a[/tex]. [tex]P(a < Z < b)[/tex] would be equal to [tex]P(Z < b) - P(Z < a)[/tex]. In this question:

[tex]\begin{aligned} & P(0 < Z < 1.46) \\ & = P(Z < 1.46) - P(Z < 0) \end{aligned}[/tex].

Look up the value of [tex]P(Z < 1.46)[/tex] on a [tex]z[/tex]-table: [tex]P(Z < 1.46) \approx 0.927855[/tex].

On the other hand, [tex]P(Z < 0) = 0.5[/tex] because the Gaussian distribution is symmetric.

Therefore:

[tex]\begin{aligned} & P(0 < Z < 1.46) \\ & = P(Z < 1.46) - P(Z < 0) \\ &\approx 0.927855 - 0.5 \\ &\approx 0.428\end{aligned}[/tex].

Find the length of side x in simplest radical form with a rational denominator.

Answers

This is a 30-60-90 right triangle.

In this special triangle, opposite 60 degrees = sqrt{3}. Thus, x = sqrt{3}.

Pls help with this question. Its due today!

Answers

Answer:

This is answer ........ ........... ........ ........... ........ ........... ........ ...........

........ ...........

Please help, super confused!

Answers

Answer:

it is B

Step-by-step explanation:

this would be B , hope this helps

Jeremy has 5 of a pound of rice. Shaila has to of a pound of rice.
Which statement best describes the total amount of rice that Jeremy and Shaila have?

Answers

Hi, you've asked an incomplete question. The full question reads;

Jeremy has 5/6 of a pound of rice. Sheila has 7/10 of a pound of rice. Which statement best describes the total amount of rice that Jeremy and Sheila have?

a. Together they have less than 1 pound of rice because each person has less than 1/2 of a pound of rice.

b. Together they have less than 1 pound of rice because each person has less than 1 pound of rice.  

c. Together they have more than 1 pound of rice because each person has less than 1 pound of rice.

d. Together they have more than 1 pound of rice because each person has more than 1/2 of a pound of rice.

Answer:

d. Together they have more than 1 pound of rice because each person has more than 1/2 of a pound of rice.

Step-by-step explanation:

Indeed, we could simply find the solution by simply bearing in mind that half a unit is represented by 0.5 ([tex]\frac{1}{2}[/tex]).

Hence, since we are told Jeremy has 5/6 (0.83), we can add it up with that of Sheila's 7/10 (0.7), which leads us to the conclusion they both have more than 1 pound of rice (0.83+0.7= 1.53 pounds of rice).

Directions: Evaluate the following combinations and determine the value of the
unknown. Write the complete solutions in your answer sheet.
1. nCs = 126
2. 10Cr= 252
3. C(n, 5) + 8 = 9
4. C(n+1, 7) = 01
5. C(6r, 6-1) = 12 + C(4,2)




what is the answer with solution po​

Answers

Answer:

1. C(9,4) : n=9, s=4

2. C(10,5) : r=5

3. C(5,5) : n=5

4. C(7,7) : n=6

5. C(18,17) : r=3

Step-by-step explanation:

A certain store sells only T-shirts. Let the random variable X represent the number of T-shirts bought from the store on any day, with a mean of 75 and a standard deviation of 20. Let the random variable Y be the total revenue from this store on a randomly selected day. If the store charges $15 per T-shirt, what are the mean and standard deviation of Y

Answers

Answer:

[tex](a)\ \mu_y = 1125[/tex]

[tex](b)\ \sigma_y = 300[/tex]

Step-by-step explanation:

Given

[tex]\mu_x = 75[/tex] -- Mean of T-shirts

[tex]\sigma_x = 20[/tex] -- Standard deviation of T-shirts

[tex]Rate = \$ 15[/tex]

Solving (a): The mean of the revenue [tex](\mu_y)[/tex]

To solve this, we use:

[tex]\mu_y = Rate * \mu_x\\[/tex]

This gives:

[tex]\mu_y = 15 * 75[/tex]

[tex]\mu_y = 1125[/tex]

Solving (b): The standard deviation of the revenue [tex](\sigma_y)[/tex]

To solve this, we use:

[tex]\sigma_y = \sqrt{Rate^2 * \sigma_2^2}[/tex]

This gives:

[tex]\sigma_y = \sqrt{15^2 * 20^2}[/tex]

[tex]\sigma_y = \sqrt{90000}[/tex]

[tex]\sigma_y = 300[/tex]

(ASAP I HAVE 20 MINS LEFT) The surface area of the rectangular prism is _____in2 and the volume is ____in3

Answers

Answer:

1)1920 in2  (2)120 in3

Step-by-step explanation:

As you landscape a 4 leaf clover intersection, you will need to buy
enough grass seed to cover all 4 circles. Each of the circles has the same
diameter: 47 meters. Calculate the total area of all grass seed needed to
cover all 4 circles.

Answers

Answer:

A = 6940 m²

Step-by-step explanation:

We are told that there is a clover leaf intersection.

I have attached a picture of it with the 4 circles showing.

We are told the diameter of each circle is the same and equal to 47 m.

Thus, radius = 47/2 = 23.5 m

We want to find the area of grass that will cover the 4 circles. Thus;

Formula for area of a circle is;

A = πr²

For the 4 circles, we have;

A = 4πr² = 4 × π × 23.5²

A = 6939.78 m²

Approximately A = 6940 m²

Which answer BEST describes the following step function graph?
1 point
Cost of T-shirts
200
15
Price Per Shirt
10
5
10
50
60 70
80 90
20 30 40
Number of Shirts
O The price of Tshirts goes up by $5 when the quantity of T-shirts is 20 or more
It costs $20 per shirt for the first 20 shirts purchased and then drops to $15 per shirt
if you purchase 21-40 shirts.
It costs $5 per shirt if you buy 40 or more shirts
It costs $20 per shirt regardless of how many shirt you buy

Answers

Answer:

omg what interesting i will see what i will come up with

please help with this question i just need the volume

Answers

Answer: 4) 49 1/2  

5) 15

Step-by-step explanation:

To find volume you must use L x W x H.

4) 3 x 3 x 5.5= V

3 x 3 = 9

9 x 5. 5=  49.5

5) 2 x 2 x 3.75= V

2 x 2= 4

4 x 3. 75 = 15

PLS HELP DUE SOON SHOW YOUR WORK!

Answers

9514 1404 393

Answer:

615.8 square feet9 truckloads

Step-by-step explanation:

The area of the circular ring is given by the formula ...

  A = πr²

where r is the radius, or half the diameter.

  A = π(14 ft)² = 196π ft² ≈ 615.752 ft²

The area of the training area is about 615.8 square feet.

__

The number of truckloads of dirt required for coverage will be ...

  (615.8 ft²)/(75 ft²/truckload) ≈ 8.21 truckloads

Since the dirt comes only in whole truckloads, Hilary needs 9 truckloads.

7. Find the radius of a circle with an area of 30 square units. Round your answer to the nearest
whole number
8. Find the diameter of a circle with an area of 50 square units. Round your answer to the nearest
whole number.
9. A deck wraps around the back of a house. Find the area of the deck made up of rectangles.

Answers

Do not click the link it’s a bot trying to get you a virus!!!

Answer:f

tyn

Step-by-step explanation:

what is the value of 4/15÷2/3​

Answers

Answer:

2 /5

Step-by-step explanation:

it's this one!!!!_;$;;#+$;​

Answers

Answer:

12 Units

A total of 12 units have been traveled.

Answer choices
25%
35%
50%
No links no links I will report

Answers

Answer:

50%

Step-by-step explanation:

As you know 8 & 8

= 16

and there's 16 dots in all.

So 8% Of 16%

Would lead to 50%

P.S: Sorry if I'm wrong I tried my best. Best wishes!!! And here's some sparkles ✨ (◍•ᴗ•◍)✧*。!!!

What is the inverse of the function f(x) = 2x
10?

Answers

Y=2x-10 (write the equation in terms of y)

X=2y-10 ( rearrange to make it equal to x instead of y)

2y=x+10 (rearrange to make 2y the subject then divide by 2 to get y on its own)

Y= 1/2x+5 so it can be written as h(x) 1/2x+5

Hope this helped

Find the perimeter and area of the kite. pls​

Answers

Hope this can help you understand

Point A is located at (3,5) and point B is located at (-2 ,-2).find the distance between point A and B

Answers

Answer:

8.74

Step-by-step explanation:

The distance can be calculated by Distance Formula , as :-

⇒ Distance = √[( x₁ - x₂ )² + (y₁ - y₂ )² ]

⇒ D = √ [ ( 3 + 2)² + (5+2)² ]

⇒ D = √ 5² + 7²

⇒ D = √ [ 25 + 49 ]

⇒ D = √ 74

D = 8.74 units .

Please help asap will give brainliest

Answers

Answer:

I cant see the choices

Step-by-step explanation:

Last month, Maria purchased a new cell phone for $500. The store manager told her that her new cell phone would depreciate by 70% every 6 months. Maria thinks she will want to replace her phone after a while. What will be the value (V) of her phone if she tries to trade it in after 2 years? Select all that apply.

Answers

Answer:

RM 4.05

Step-by-step explanation:

6mnts=70% of 500 is 350, so 150

1 year= 70% of 150 is 105, so 45

1 n half year = 70% of 45 is 31.5, so 13.5

2 years = 70% of 13.5 is 9.45, so Rm 4.05

BETTER ASK HER TO DONATE THE PHONE.....LOL

A company makes steel rods shaped like cylinders. Each rod has a radius of 4 centimeters and a height of 20 centimeters. The company uses, on average, 28,134.4cm3 of steel each hour to make these rods. How many rods does the company make, on average, each hour? If necessary, refer to the list of geometry formulas. For your calculations, do not round any intermediate steps, and use the π button on the ALEKS calculator. Round your answer to the nearest hundredth

Answers

Answer:

1,172.3 cm³

Step-by-step explanation:

Find the volume of one rod, then divide the total volume of steel used by the volume of one rod.  The volume of one rod is

V = (πd²/4)h

d = 4 cm

h = 20 cm

Plugin the numbers and get V in cm³, then divide the given total volume of 28,134.4 cm³ by V.  If the result is not an integer, then round down.

Add

20 + 4 = 24

Then

28,134.4 ÷ 24 = 1172.26

Rounded to the nearest 0.1 or  the Tenths Place = 1,172.3

Therefore, 1,172.3 rods will be made per hour.

DUE IN THREE MINUTES
i give brainliest
factor each expression:
9+21
14+28
80+56

Answers

Answer:

Step-by-step explanation:

The secret trick to factoring is the greatest common factor.

The greatest common factor of 9 and 21 is 3. Thus, our expression is

3(3 + 7).

The greatest common factor of 14 and 28 is 7. Our expression is

7(2 + 4)

The greatest common factor of 80 and 56 is 8. This makes our expression

8(10 + 7).

Answer
3(3+7)
7(2+4)
8(10+7)

what is the meaning of kiss

Answers

Answer:

wrong subject but, kiss means i guess to lock lips in a passionate way or in a greeting way. In some countries kissing someone on the cheek or past the cheek is a sign of a greeting i believe.

In short kissing means a way to show compassion or love.

|x − 5| − |2 − x| + |x + 1| , if x ≥ 5

Answers

Answer:

9990% 222$

Step-by-step explanation:

if you work it will help u head

Can someone help me with this ? it is relative frequency tables

Answers

Answer:

Step-by-step explanation:

36/78 = 0.46153,,,, nope.. not a choice

36/123 = 0.2926.... so the last answer looks good

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