Jesse is 25 years old and has saved $13,000 for his RRSP. Jesse has decided to deposit $400 at the end of every month until he is 60 years old. At that time, he will no longer make any more deposits.The RRSP will be allowed to continue to accumulate interest until Jesses reaches the age of 65. If the RRSP can earn 3.6% compounded quarterly for the entire duration, what will the RRSP contain when Jesse reaches 65? (Round answer to 2 decimal places)
P/Y =
P/Y =
C/Y =
C/Y =
N =
N =
I/Y =
I/Y =
PV =
PV =
PMT =
PMT =
FV =
FV =
Answers
The RRSP will contain $88,624 when Jesse reaches 65 years old when compounded quarterly.
What is annuity?A financial contract known as an annuity distributes a fixed stream of payments over a certain length of time. An annuity can be used to ensure a stream of income in retirement and can be either an investment or an insurance policy. An annuity can be set up in a number of different ways, such as with a lump sum payment followed by ongoing payments or by a series of ongoing payments spread out over a certain length of time. The number of payments made to finance an annuity depends on the interest rate, the length of the annuity, and the principle amount. An annuity may be funded with a single lump sum payment or a series of recurring payments.
The future value is given by the formula:
\(FV = PMT x (((1 + r/n)^{(n t)} - 1) / (r/n))\)
Substituting the given values we have:
\(FV = 400 x (((1 + 0.036/4)^{(4 (40))} - 1) / (0.036/4))\)
FV = 400 x 221.56
FV = $88,624
Hence, the RRSP will contain $88,624 when Jesse reaches 65 years old.
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Related Questions
What is the standard form equation of an ellipse that has vertices (−2,14) and (−2,−12) and co-vertices (9,1) and (−13,1)?
Answers
Answer:
\(\frac{(x+2)^2}{121} + \frac{(y-1)^2}{169} = 1\)
Step-by-step explanation:
First, we identify that the vertices are vertical.
(an image below is attached if you want to see a visualization)
Therefore, the equation is such:
\(\frac{(x-h)^2}{b^2} + \frac{(y-k)^2}{a^2} = 1\)
(h,k) is the center of the ellipse, which we could easily calculate by finding the midpoint between any pair of vertices.
This gets us (-2, 1)
Therefore, h = -2, k = 1
Now we want to find a,
we know the length of the major axis is 2a, and in this case, our length of the major axis is 26. So a = 13
Now we want to find b,
We know the length of the minor axis is 2b, and in this case, our length is 22, so b = 11
Now we will just plug in all the values and simplify to get our answer! B)
There are 5 stacks of huge waffles that each weigh 45 pounds, and a group of people want to eat all of the stacks of waffles. If a person can eat 2 pounds, how many people are necessary to eat all of the waffles?
Answers
Answer: 112 people.
Step-by-step explanation:
Answer:
You would need 112.5 people to eat all the stacks of pancakes.
Step-by-step explanation:
45 times 5 = 225
and then 225 divided by 2 is 112.5
Hope this helps!
Good question lol
30-3x3/3+8(2) can someone give me an explanation for how they got the answer?
Answers
Answer:
43
Step-by-step explanation:
Order of Operations first
30 - 9 / 3 + 8 x 2
30 - 3 + 16
27+16
43
The number of people living in a town t years from now is P, where
p₀ = 42000
P i₊₁ = 1.02 (Pt - 550)
Work out the number of people in the town 3 years from now.
Answers
The population of a town t years from now is given by the formula\(P_{t+1} = 1.02(P_t - 550)\). The current population is 42,000, so there will be approximately 44,031 people in the town 3 years from now.
We are given that the population of the town t years from now is given by the formula
\(P_{t+1} = 1.02(P_t - 550)\)
We know that the population of the town is currently 42,000, so we can use this to find the population of the town 1 year from now
P₁ = 1.02(P₀ - 550)
= 1.02(42000 - 550)
= 42669
So there will be 42,669 people in the town 1 year from now.
We can now use this to find the population of the town 2 years from now
P₂ = 1.02(P₁ - 550)
= 1.02(42669 - 550)
= 43349.18 (rounded to 2 decimal places)
So there will be approximately 43,349 people in the town 2 years from now.
Finally, we can use this to find the population of the town 3 years from now
P₃ = 1.02(P₂ - 550)
= 1.02(43349.18 - 550)
= 44031.45 (rounded to 2 decimal places)
So there will be approximately 44,031 people in the town 3 years from now.
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A new computer graphics company employs 10 programmers. The company decides to expand into digital animation and needs to transfer 3 of the programmers into the new department. How many different combinations of 3 programmers can be chosen to transfer to the new department?
A. 3
B. 30
C. 120
D. 840
Answers
There are 120 different combinations of 3 programmers that can be chosen to transfer to the new department
How to determine the ways of selection?From the question, we have
Total number of programmers, n = 10
Numbers to programmers to select, r = 3
The number of ways of selection could be drawn is calculated using the following combination formula
Total = ⁿCᵣ
Where
n = 10 and r = 3
Substitute the known values in the above equation
Total = ¹⁰C₃
Apply the combination formula
ⁿCᵣ = n!/(n - r)!r!
So, we have
Total = 10!/(7! * 3!)
Evaluate
Total = 120
Hence, the number of ways is 120
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a researcher selects a simple random sample of 1,200 women who are students at midwestern colleges in the united states to use for an observational study. which of the following describes the population to which it would be most reasonable to generalize the results?
Answers
The population to which it would be most reasonable to generalize the results of the observational study is women who are students at Midwestern colleges in the United States.
This population is well-defined and can be used to make generalizations about the results from the study.
This population can be calculated by taking the total number of college students in the United States and subtracting the number of college students in other regions, as well as the number of male students in the Midwestern region.
The total population of women college students in the Midwestern region of the United States can then be calculated by multiplying the total population by the percentage of female students in the region.
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y = 1/8 x+3
A) Slope: 8; y-intercept: 3
B) Slope: 1/3; y-intercept: 1/8
C) Slope: 1; y-intercept: 1/8
D) Slope: 1/8; y-intercept: 3
Answers
Answer:
Its D
Step-by-step explanation:
Slope intercept form is y=MX +B
if you plug it in, it would be y=1/8x+3 meaning 1/8 is the slope (m) and 3 is the y intercept (b)
hhhhhhhhheeeeeeeelllllllllpppppppppp me
Answers
Answer:
A, I think.
Step-by-step explanation:
"Proportions of the summer reach temperatures of over 100 degrees" doesn't sound grammatically right.
Hope this helps!
helpp!!!
A package of balloons contains 4 red, 6 blue, 3 yellow, and 5 orange balloons. Javier will randomly choose one balloon from the package to blow up. He then will randomly choose a second balloon to blow up. What is the probability that Javier chooses an orange balloon and then a yellow balloon?
A 5/108
В. 5/ 102
с. 1/15
D. 1/6
e. 4/9
Answers
Answer:
in my opinion the answer is 78
Step-by-step explanation:
you divide all of them then add akll tof them simple
put the numbers in
order
2.6
6.2
2.06
0.62
Answers
Answer:
Put the numbers in
order
2.6
6.2
2.06
0.62
Step-by-step explanation:
Answer:
If your looking for the answers from least to greatest it goes,
0.62, 2.06, 2.6, 6.2
PLEASE HELP
Two projectiles are shot vertically upward at the same instant.
Projectile A's height in feet, f(t), is represented in the table, where t is the seconds since the projectile was shot off
Projectile B's height at any time t is modeled by the function
h (t)=-16t^2 +96t
How do the times at which the projectiles begin their descents compare?
SEE PHOTO
Answers
Projectile B begins its descent 1 seconds before Projectile A does.
What is y-intercept?In Mathematics and Geometry, the y-intercept of any graph or table such as a quadratic equation or function, generally occurs at the point where the value of "x" is equal to zero (x = 0).
By critically observing the table shown in the image attached above, we can reasonably infer and logically deduce the following y-intercept of Projectile A:
y-intercept = (0, 44).
Maximum height = (4, 300).
When t = 0, the y-intercept of Projectile B can be calculated as follows;
h(t) = -16t² + 96t
h(0) = -16(0)² + 96(0)
h(0) = 0.
For the maximum height, we have:
h(t) = -16t² + 96t
h'(t) = -32t + 96
32t = 96
t = 96/32
t = 3
Difference in time = 4 - 3
Difference in time = 1 seconds.
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Solve the system of equation using elimination
Answers
Answer:
To Solve a System of Equations by Elimination
Write both equations in standard form. ...
Make the coefficients of one variable opposites. ...
Add the equations resulting from Step 2 to eliminate one variable.
Solve for the remaining variable.
Substitute the solution from Step 4 into one of the original equations.
here! ( happy hoildays!)
13. Use the Change of Base Formula to evaluate log373. (1p
O2.641
04.290
O 1.863
O 3.905
Answers
\( \sf log_{3}(73) \)
Solution:-\(\sf \frac{In(73)}{In(3)} \)
\(≈ \frac{4.29046}{1.0986} \)
\(≈3.905\)
!
A washer and dryer cost a total of 928$. The cost of the washer is three times the cost of the dryer. Find the cost of each item.
Answers
Answer:
Cost of Washer = $696
Cost of Dryer = $232
Step-by-step explanation:
Start by making and equation, put a variable for the missing prices, let's say the cost of the dryer is 'x' and since the cost of the washer is three times, it will be '3x'.
Put the equation together, so we can add the x variables together.
3x + x = 4x
The total cost will be what the '4x' is equal to.
4x = 928
Going back to algebra, we solve the equation by dividing both sides by 4.
x = 232
Remember x is the variable we gave to the dryer, so now we must find the cost of the washer. In order to do this, we will have to multiply it by 3.
3x
3(232) = 696.
To check the answer, we can add them together to make sure we get the total cost.
696 + 232 = 928
Trianglewhat is triangles give an example for this
Answers
Answer:
See below ~
Step-by-step explanation:
What are triangles?Triangles are characterized as polygons having 3 sides, an angle sum of 180 degrees, and 3 vertices.
ClassificationBy side lengths :1. Scalene
⇒ possess unequal side lengths
2. Isoceles
⇒ Possess 2 equal side lengths
3. Equilateral
⇒ All side lengths are equal
By angles :
1. Obtuse
⇒ Contains an angle over 90°
2. Acute
⇒ All angles are less than 90°
3. Right
⇒ One angle is equal to 90°
3 more than twice a number x is equal to sixteen?
Answers
Answer:
x=6.5
Step-by-step explanation:
2x+3=16
2x=16-3
2x=13
x=13/2
x=6.5
After begging his parents for 3 years, Ed is finally going to clown college! On the first day, his juggling instructor divides a box of bean bags equally among the 17 clowns in Ed's class. Each clown gets 4 bean bags. Which equation can you use to find the number of bean bags b in the instructor's box? Solve this equation for b to find the number of bean bags in the instructor's box. bean bags Questions
Answers
The equation that can be used to determine the number of bean bags in the instuctor's box is b = 17 x 4.
The number of bean bags in the instructor's box is 68.
What is multiplication?
Multplication is a mathematcial operation that can be used to determine the product of two or more numbers. The sign used to represent multiplication is ×.
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what is 12+6x>99 help plz asaaap
Answers
Answer:
\( \frac{29}{2} \)
Please help with this problem
Answers
The probabilities of picking the real numbers are 0.52 and 0.88, respectively
How to determine the probabilitiesThe probabilities in this case, is the area covered by each region
Using the above as a guide, we have the following:
Real number between 3 and 5
Here, we have the area to be
Region B
The area of region B is 0.56
So, we have
Probability = 0.56
Real number between 3 and 7
Here, we have the area to be
Region B and Region C
The areas of these regions are 0.56 and 0.32
So, we have
Probability = 0.56 + 0.32
Probability = 0.88
Hence, the probability is 0.88
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Mathematical 5. PRACTICE 3 Draw a Conclusion is the statement below always, sometimes, or never true? Give at least two examples to support your reasoning. The LCM of two numbers is the product of the two numbers.
Answers
Answer:
The statement "The LCM of two numbers is the product of the two numbers" is sometimes true, but not always.
Step-by-step explanation:
Here are two examples to support this reasoning:
Example 1:
Consider the two numbers 6 and 10.
The factors of 6 are 1, 2, 3, and 6.
The factors of 10 are 1, 2, 5, and 10.
The common factors are 1 and 2, so the GCF of 6 and 10 is 2.
The multiples of 6 are 6, 12, 18, 24, 30, 36, 42, 48, 54, 60, ...
The multiples of 10 are 10, 20, 30, 40, 50, 60, 70, 80, 90, 100, ...
The smallest multiple that is common to both lists is 30, so the LCM of 6 and 10 is 30.
However, the product of 6 and 10 is 60, which is not equal to the LCM of 6 and 10.
Therefore, in this case, the statement "The LCM of two numbers is the product of the two numbers" is false.
Example 2:
Consider the two numbers 5 and 7.
The factors of 5 are 1 and 5.
The factors of 7 are 1 and 7.
The GCF of 5 and 7 is 1.
The multiples of 5 are 5, 10, 15, 20, 25, 30, 35, 40, 45, 50, ...
The multiples of 7 are 7, 14, 21, 28, 35, 42, 49, 56, 63, 70, ...
The smallest multiple that is common to both lists is 35, so the LCM of 5 and 7 is 35.
The product of 5 and 7 is 35, which is equal to the LCM of 5 and 7.
Therefore, in this case, the statement "The LCM of two numbers is the product of the two numbers" is true.
So, we can see that the statement is sometimes true, depending on the specific numbers being considered.
What is the slope of y = x + 5?
Answers
Answer: 1
Step-by-step explanation:
Answer:
1
Step-by-step explanation:
Slope in this form is denoted as m.
The formula is y = mx + b, and when you substitute the given values, you can tell that the m value is 1.
What is 5÷40= and what's the math problem look like when you work it out on paper
Answers
Answer:
.125
Step-by-step explanation:
40÷5
0
40÷5
0
40÷5
0
0
40÷5
- 0
5
remainder 5
what is the slope? (IXL) LAST QUESTION
Answers
Answer:
Sorry I didnt answer quick im in a test rn lol
Step-by-step explanation:
3/2
Answer:
3/2
Step-by-step explanation:
The clearest points we can use from this graph are (60, 0) and (80, 30). Substitute those values into the slope formula to find the slope.
m = y₁ - y₂/x₁ - x₂
m = 0 - 30/60 - 80
m = -30/-20
m = 3/2
∴ The slope is 3/2.
−3⋅f(−8)+7⋅g(2)=
What is the answer ASAP
Answers
I think lol
Find f(7) given f(x) = 5x+ x + 2
Answers
Answer:
44
Step-by-step explanation:
hi! we can plug in 7 for each x in this equation.
f(7)=5(7)+7+2
=35+7+2
=35+9
=44
After training Naruto went to a ramen shop for dinner. Since Naruto eats ramen for lunch and dinner daily, the shopkeeper gives him a 33.33% discount. If ramen costs 45 cents, how much does Naruto spend in 15 days?
Points given: 20
Answers
To calculate how much Naruto spends on ramen in 15 days, we need to determine the total cost of ramen per day and then multiply it by 15.
Since Naruto receives a 33.33% discount, he pays 100% - 33.33% = 66.67% of the original price.
66.67% of 45 cents is (66.67/100) * 45 = 30 cents.
So, Naruto spends 30 cents on ramen per day.
To find out how much he spends in 15 days, we multiply the daily cost by the number of days:
30 cents * 15 = 450 cents.
Therefore, Naruto spends 450 cents, which is equivalent to $4.50, on ramen in 15 days.
Question down below in image
Answers
A like radical to the one shown is Option C.
Which is a like radical?We know that we can be able to perform mathematical operations on the radicals such as adding and subtracting but this must be performed when we have like radicals.
When we talk about like radicals we mean that the radicals must be such that it easy for the radical to be worked upon as we have it in the question that is before us here to locate a like radical among the options.
The radical in option C has the same 2x and power as the given radical hence they are like radicals.
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2. A(n) is NOT an example of an agreement. (1 point)
O lease
O month-to-month
O annual
O fine print
Answers
An Annual is not an example of an agreement.
Find the (a) mean, (b) median, (c) mode, and (d) midrange for the data and then (e) answer the given question. Listed below are the weights in pounds of 1111 players randomly selected from the roster of a championship sports team. Are the results likely to be representative of all players in that sport's league?
278 303 186 292 276 205 208 236 278 198 208
a. Find the mean.
The mean is ? pound(s).
(Type an integer or a decimal rounded to one decimal place asneeded.)
b. Find the median.
The median is ? pound(s).
(Type an integer or a decimal rounded to one decimal place asneeded.)
c. Find the mode.
Select the correct choice below and, if necessary, fill in the answer box to complete your choice.
A. The mode(s) is(are) ? pound(s).
(Type an integer or a decimal. Do not round. Use a comma to separate answers as needed.)
B. There is no mode.
d. Find the midrange.
The midrange is ? pound(s).
(Type an integer or a decimal rounded to one decimal place asneeded.)
e. Are the results likely to be representative of all players in that sport's league?
A. The results are not likely to be representative because the median is not equal to the mode.
B. The results are likely to be representative because a championship team is most likely representative of the entire league.
C. The results are not likely to be representative because the median is not equal to the mean.
D. The results are not likely to be representative because the championship team may not be representative of the entire league.
Answers
Answer:
Mean= 242.5 pounds
Median= 236 pounds
Mode= 208 and 278 pounds
Range=117 pounds
Mid-range= 58.5 pounds
B. The results are likely to be representative because a championship team is most likely representative of the entire league.
Step-by-step explanation:
278 303 186 292 276 205 208 236 278 198 208
Arranged in ascending order is
186 198 205 208 208 236 276 278 278 292 303
Mean = (186 +198+ 205+ 208 +208 +236 + 276+ 278 +278+ 292 +303)/11
Mean =2668/11
Mean= 242.5 pounds
Median = the middle number
Median= 236 pounds
Mode = highest occuring number(s)
Mode= 208 and 278 pounds
Range= highest number- smallest number
Range=303-186
Range=117 pounds
Mid-range= range/2
Mid-range= 117/2
Mid-range= 58.5 pounds
if Mary starts with $10 in her savings account and wants to add $20 each week to save for a new phone that costs $150, how many weeks will she need to save before she has enough money?
Answers
Answer:
7 weeks.
Step-by-step explanation:
We know Mary starts with $10 in her account, so now we just find out how much more money she needs to save:
150 - 10 = 140
Now, all we have to do is find out how many times 20 fits into 140, since she wants to add $20 each week to her account:
140/20 = 7
Hence, it will take Mary 7 weeks before she has enough money for a new phone.