Kevin plans to retire in 30 years, and he plans to save up $250,000 for retirement. He has two options
• Plan 1: compounded monthly with an APR of 3.3%
• Plan 2: compounded quarterly with an APR of 3.5%
Compare these two options to see which one is more beneficial for Kevin. When you make the comparison,
you should at least calculate
1. the amount he needs to deposit each time period
2. the total interest accrued

Answers

Answer 1

The rate of growth of the amount invested with time in Plan 1 is slightly higher than the amount invested in Plan 2.

The option most beneficial to Kevin by comparison is Plan 1

Reasons:

The number of years for the investment = 30 years

The amount he plans to save = $250,000

The investment plan options are;

Plan 1: Compounded monthly investment with APR, r = 3.5%

The formula for monthly contributions is presented as follows;

[tex]\displaystyle FV = \mathbf{\frac{PMT \cdot \left( 1 + \frac{r}{n}\right)^{n\cdot t} - 1}{\frac{r}{n} }}[/tex]

Which gives;

[tex]\displaystyle 250,000 = \mathbf{\frac{PMT \cdot \left( 1 + \frac{0.033}{12}\right)^{360} - 1}{\frac{0.033}{12} }}[/tex]

Solving gives;

The amount he needs to deposit each month, PMT ≈ $256.18

The total deposit = 360 × $256.18 = $92,224.2

Total interest accrued  = $250,000 - $92,224.2 ≈ $157,775.78

Plan 2: Compounded quarterly, with APR, r = 3.3

Which gives;

[tex]\displaystyle 250,000 = \mathbf{\frac{PQT \cdot \left( 1 + \frac{0.035}{4}\right)^{120} - 1}{\frac{0.033}{4} }}[/tex]

The amount he needs to deposit each quarter ≈ $769.34

The total deposit = $769.34 × 120 = $92,321.3336

Total interest accrued = $250,000 - $92,321.3336 ≈ $157,678.67

The total interest accrued by investing in plan 1 which is approximately

$157,775.78 is larger than the interest accrued on Plan 2 which is

approximately $157,678.67

The option most beneficial to Kevin is Plan 1, due to the higher total interest accrued

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Related Questions

10:8 as a equivalent ratio​

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5:4, 20:16, and 30:24 are all equivalent ratio’s

What is f(g(-1)) for f(x) = 2x - 3 and g(x) = x2 + 11?
A) 12
B) 21
0.32
D) 36
E) 45

Answers

Answer:

I think it is c I hop I'm right

Simplify c+c+7+5c-3-6c.
Help

Answers

Answer:

c+4

Step-by-step explanation:

Simplification of the expression c+c+7+5c-3-6c is c+4.

What is an expression?

In mathematics, expression is the combining of variables with the application of operations and prescribed rules. It could take the shape of an equation, some numbers, etc.

Given, the expression

c+c+7+5c-3-6c

Simplifying,

c+c+7+5c-3-6c

= 7c-6c + 7-3

= c+4

Therefore, after the simplification expression is c+4.

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If a = 4 and c = 2 then what is 5ac

Answers

Answer:

40

Step-by-step explanation:

by replacing the value and multiplying the numbers and the answer will come 40

Answer:

5ac = 40

Step-by-step explanation: When the letters and the numbers are toghether without a symbol they multiply each other.

So 5 x 4 x 2 = 40

mrs.graves gave her class 12 minutes to read. carrie read 5 and 1/2 pages in that time .at what rate , in pages per hour ,did carrie read?

A. 1 1/0
B. 22
C. 27 1/2
D. 66

Answers

Answer:c

Step-by-step explanation:

Graph one function of:y=-3sinx

Answers

Step-by-step explanation:

Here is our graph of the function [tex]y=-3\sin x[/tex]

Solve 6x+23=1y for y.

Answers

Answer:

y = 6x + 23

Step-by-step explanation:

Flip 6x + 23 = 1y into 1y = 6x + 23

Also, 1y is the same as just saying y.

I feel like this question isn't in depth or is the full question. If you made a typo or you want to be more clear for what you need please comment! :)

2. What is the interpretation of the constant of proportionality?
0.001 kilometers per meter
0.001 meter per kilometer
Pls

Answers

Answer: It would be the first one, 0.001 kilometers per meter.

Step-by-step explanation: is 1,000 meters is equal to 1 kilometer, you would have to move the decimal on each until one is at one and the other is at 0.001. This would leave you with the first answer. Hope this helps!

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4.
A small box holds 80 stuffed toys. A large box
holds 155% as many stuffed toys as than a
small box. How many stuffed toys does the large
box hold?

Answers

Answer:

The large box would hold 124 this is because 155 percent of 80 is 124

Find the angle between u and v, rounded to the nearest tenth degree.
u = (4, 0, 2), v = (6, −3, 0)

Answers

Answer:

The angle between vectors u and v is [tex]\theta\approx36.9^\circ[/tex]

Step-by-step explanation:

Recall:

Angle between vectors u and v --> [tex]\theta=cos^{-1}(\frac{u\bullet v}{||u||*||v||})[/tex]Dot product (three-dimensional) --> [tex]u\bullet v=u_1v_1+u_2v_2+u_3v_3[/tex]Magnitude (three-dimensional, vector u) --> [tex]||u||=\sqrt{u_1^2+u_2^2+u_3^2}[/tex]Magnitude (three-dimensional, vector v) --> [tex]||v||=\sqrt{v_1^2+v_2^2+v_3^2}[/tex]

Calculation:

Dot product --> [tex]u\bullet v=(4)(6)+(0)(-3)+(2)(0)=24[/tex]Magnitude (u) --> [tex]||u||=\sqrt{4^2+0^2+2^2}=\sqrt{16+0+4}=\sqrt{20}=2\sqrt{5}[/tex]Magnitude (v) --> [tex]||v||=\sqrt{6^2+(-3)^2+0^2}=\sqrt{36+9+0}=\sqrt{45}=3\sqrt{5}[/tex]

Plug dot product and magnitudes into formula:

[tex]\theta=cos^{-1}(\frac{u\bullet v}{||u||*||v||})=cos^{-1}(\frac{24}{2\sqrt{5}*3\sqrt{5}})=cos^{-1}(\frac{24}{6*5})=cos^{-1}(\frac{24}{30})\approx36.9^{\circ}[/tex]

Conclusion:

The angle between vectors u and v is [tex]\theta\approx36.9^\circ[/tex]


Not 9 the one on top

Answers

I can really see the picture

Can someone help me do this problem and explain it to me step by step? If so I’ll mark you brainliest

Answers

Answer:

-21

28

Step-by-step explanation:

1) if r = -4

Substitute r = -4 in 3r - 9

= 3 * (-4) - 9

= -12 - 9

= -21

2) ( 4 / 7 ) * x = 16

 4 * x = 16 * 7

 x = 4 * 7

 x = 28

are the two sides of congress the Senate and the Supreme Court?

Answers

Answer:

Step-by-step explanation:

Legislative—Makes laws (Congress, comprised of the House of Representatives and Senate) Executive—Carries out laws (president, vice president, Cabinet, most federal agencies) Judicial—Evaluates laws (Supreme Court and other courts)

Evaluate 4-7[(3-8)-(-5-8)]

Answers

-52 Is the answer hope that helps

Step-by-step explanation:

The Answer is 52

Hope it's Helpful

1% of the parts produced by a factory are defective. Suppose the test for defective parts has a 99.5% accuracy and a 0.6% false positive rate. SUppose you pick a part and receive a positive test result. WHat is the probability that the part is indeed defective

Answers

Using conditional probability, it is found that there is a 0.6262 = 62.62% probability that the part is indeed defective.

Conditional Probability

[tex]P(B|A) = \frac{P(A \cap B)}{P(A)}[/tex]

In which

P(B|A) is the probability of event B happening, given that A happened. [tex]P(A \cap B)[/tex] is the probability of both A and B happening. P(A) is the probability of A happening.

In this problem:

Event A: Positive test result.

Event B: Defective.

For the probability of a positive test result, we consider two scenarios.

99.5% of 1%(defective).0.6% of 100 - 1 = 99%(false positive).

Hence:

[tex]P(A) = 0.995(0.01) + 0.006(0.99) = 0.01589[/tex]

The probability of a positive test result and being defective is:

[tex]P(A \cap B) = 0.995(0.01)[/tex]

The conditional probability is:

[tex]P(B|A) = \frac{P(A \cap B)}{P(A)} = \frac{0.995(0.01)}{0.01589} = 0.6262[/tex]

0.6262 = 62.62% probability that the part is indeed defective.

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State the theorem or postulate that proves a||b . (Picture included )

Answers

7. Theorem : When a transversal cuts two lines, such that pairs of corresponding angles are equal, then the lines have to be parallel.

8. Postulate : When a transversal cuts two lines, such that pairs of alternate interior angles are equal, the lines have to be parallel.

Good Luck

if 7p-4=8 what is the value of P? Can someone give me example so I can answer my question. Thanks!

Answers

Answer:

p=[tex]1\frac{5}{7}[/tex]

Step-by-step explanation:

7p-4=8

  7p=8+4

      =12

    p=12÷7

      =[tex]\frac{12}{7}[/tex]

      =[tex]1\frac{5}{7}[/tex]

3. Solve x/5 = 15
о x = 20
O x = 75
O x = 10
O x = 3

Answers

The answer is x=75~ 75 divided by 5= 15

Answer:

3

Step-by-step explanation:

cross multiple and divide the two variables


Admission to the movies is $10 for adults and $7 for children. Find the
total admission for 4 adults and 8 children.

Answers

Answer:

$96

Step-by-step explanation:

4 times 10 is 40. 7 times 8 is 56. 40 + 56 = 96

Kathy is baking 3 apple pies. Each pie requires 2 3/4 pounds apples. Apples cost $2.49 a pound. About how much will Kathy spend on apples?

Answers

Answer:

$20.55

Explanation:

1apple pie needs 2/3/4pounds of apple 1pound cost $2.492/3/4 = ?2/3/4 ×2.49 =$6.85 for one pieFor 3 pies , =$6.85×3 = $20.55

The total amount spent on apples is $20.5425.

Given that, Kathy is baking 3 apple pies. Each pie requires 2 3/4 pounds of apples. Apples cost $2.49 a pound.

We need to find out how much will Kathy spend on apples.

What is an equation?

In mathematics, an equation is a formula that expresses the equality of two expressions, by connecting them with the equals sign =.

Let the amount spent on apples be x.

Now, 2 3/4=11/4

The total number of apples required to make 3 apple pies=3 × 11/4

=33/4 pounds

Apples cost $2.49 a pound.

So, the amount spent on apples=x=33/4 × 2.49

=$20.5425

Therefore, the total amount spent on apples is $20.5425.

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An advertisement for a popular weight-loss clinic suggests that participants in its new diet program lose, on average, more than 10 pounds. A consumer activist decides to test the authenticity of the claim. She follows the progress of 18 women who recently joined the weight-reduction program. She calculates the mean weight loss of these participants as 10.8 pounds with a standard deviation of 2.4 pounds. It may be assumed that the weight loss of participants to the weight-reduction program is normally distributed.
a) set up the competing hypotheses to test the advertisement's claim
b) at the 5% significance level, what is the critical value(s)? specify the decision rule
c) what does the consumer activist conclude?

Answers

Testing the hypothesis, it is found that:

a)

The null hypothesis is: [tex]H_0: \mu \leq 10[/tex]

The alternative hypothesis is: [tex]H_1: \mu > 10[/tex]

b)

The critical value is: [tex]t_c = 1.74[/tex]

The decision rule is:

If t < 1.74, we do not reject the null hypothesis.If t > 1.74, we reject the null hypothesis.

c)

Since t = 1.41 < 1.74, we do not reject the null hypothesis, that is, it cannot be concluded that the mean weight loss is of more than 10 pounds.

Item a:

At the null hypothesis, it is tested if the mean loss is of at most 10 pounds, that is:

[tex]H_0: \mu \leq 10[/tex]

At the alternative hypothesis, it is tested if the mean loss is of more than 10 pounds, that is:

[tex]H_1: \mu > 10[/tex]

Item b:

We are having a right-tailed test, as we are testing if the mean is more than a value, with a significance level of 0.05 and 18 - 1 = 17 df.

Hence, using a calculator for the t-distribution, the critical value is: [tex]t_c = 1.74[/tex].

Hence, the decision rule is:

If t < 1.74, we do not reject the null hypothesis.If t > 1.74, we reject the null hypothesis.

Item c:

We have the standard deviation for the sample, hence the t-distribution is used. The test statistic is given by:

[tex]t = \frac{\overline{x} - \mu}{\frac{s}{\sqrt{n}}}[/tex]

The parameters are:

[tex]\overline{x}[/tex] is the sample mean. [tex]\mu[/tex] is the value tested at the null hypothesis. s is the standard deviation of the sample. n is the sample size.

For this problem, we have that:

[tex]\overline{x} = 10.8, \mu = 10, s = 2.4, n = 18[/tex]

Thus, the value of the test statistic is:

[tex]t = \frac{\overline{x} - \mu}{\frac{s}{\sqrt{n}}}[/tex]

[tex]t = \frac{10.8 - 10}{\frac{2.4}{\sqrt{18}}}[/tex]

[tex]t = 1.41[/tex]

Since t = 1.41 < 1.74, we do not reject the null hypothesis, that is, it cannot be concluded that the mean weight loss is of more than 10 pounds.

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11y+7+5(y-3) as binomial forms

Answers

Answer:

16y − 8 is your answer!

Step-by-step explanation:

Simplify the expression!

Duidueydheueudhrueyeue

Answers

Answer:

∠1 = 121°, ∠2 = 59°, ∠3 = 121°, ∠4 = 121°, ∠5 = 59°, ∠6 = 121° and m∠7 = 59°


Step-by-step explanation:

Suppose m∠8 = 59° (given angle)

Since m∠8 = 59°, m∠5 = 59° (Corresponding Angles)

Again, m∠8 = 59° so therefore, m∠2 = 59° (Alternative interior Angles)

Next since m∠2 = 59°, m∠7 is also 59° (Corresponding Angles)

Then since m∠8 = 59°, m∠7 = 59° (Alternative Exterior Angles)

Finally since m∠8 = 59° and m∠2 = 59°, therefore, m∠2 = m∠5 (Alternative Interior Angles)



Thus, ∠1 = 121°, ∠2 = 59°, ∠3 = 121°, ∠4 = 121°, ∠5 = 59°, ∠6 = 121° and m∠7 = 59°

a) suppose {u,v,w} spans the vectore space V.
ptove that {u+v,u+w,v+w} also spans V.
b) suppose that the set of vectors {u,v,w} is linearly independent in a vector space v. prove that the set of vectors {u+v+w, u+v, u+w} must be linearly independentRocket,

Answers

Answer:

Victini V

Step-by-step explanation:

Best pokemon v is Victini V so yea ez dubs good luck on test.

I don't understand what do and I am on a time crunch please help​

Answers

Answer:

Step-by-step explanation:

Decrease % = 4.2% = 0.042

Total area = 1500 km²

[tex]y =(1 -0.042)^{t}*1500\\\\y= 1500*(0.958)^{t}[/tex]

I need help ASAP


Mrs. Stevens deposited $4,500 in a college savings account for her grandson that earns an annual simple interest rate of 6.5%. How much interest will be paid in 10 years?

Answers

The interest that will be paid in 10 years is = $2,925

The total amount of money deposited as savings (p)

= $4,500,

The annual simple interest rate (r) = 6.5%.

The time to collect the interest expected (t) = 10 years.

There the simple interest generated =

[tex] \frac{p \times t \times r}{100} [/tex]

[tex] \frac{4500 \times 10 \times 6.5}{100} [/tex]

[tex] \frac{292500}{100} [/tex]

Therefore simple interest = $2,925

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(1,4) and (6,-1)
find the point slope asap plsssssss

Answers

Answer:

(5,-5)

Step-by-step explanation:

-1-4

------ = (5,-5)

(6-1)

Answer:

Slope intercept form: y = -x + 5

Point slope form: y - 4 = -1 (x - 1)

Step-by-step explanation:

First we need to find slope by using this formula⤵⤵⤵

[tex] \frac{y _{2} - y _{1} }{x _{2} - x _{1} } [/tex]

(Sorry if it's a bit small btw)

-1 - 4 = -5

6 - 1 = 5

Simplify -5/5 by dividing, and your slope is -1.

Now we plug in one of the points and the slope into the point slope formula⤵⤵⤵

[tex]y - y _{1} = m(x - x _{1})[/tex]

We'll use point (1,4) for this:

y - 4 = -1 (x - 1)

To solve this, start by distributing the -1 among everything inside the parenthesis to get

y - 4 = -x + 1. Next, add 4 on both sides to get

y = - x + 5.

Hope this helps you :)

Find the distance between the following points: (0,0,0) and (-2,6,3)
1. √7
2. √41
3. 7
4. 36

PLEASE HELP ASAP

Answers

9514 1404 393

Answer:

  3.  7

Step-by-step explanation:

The distance formula applies in 3 dimensions as well as 2.

  d = √((x2 -x1)² +(y2 -y1)² +(z2 -z1)²)

  d = √((-2)² +6² +3²) = √(4 +36 +9) = √49

  d = 7

The distance between the two points is 7 units.

Find the coordinates of point p along the directed line segment AB, from A (-2,-4) to B (6,1), so that the ratio of AP to PB is 3 to 2

Answers

Answer:

Step-by-step explanation:

x distance from A to B

6 - (-2) = 8

3/5(8) = 24/5 = 4.8             or        2/5(8) = 16/5 = 3.2

-2 + 4.8 = 2.8                                 6 - 3.2 = 2.8

y distance from A to B

1 - (-4) = 5

3/5(5) = 3                           or        2/5(5) = 2

-4 + 3 = -1                                       1 - 2 = -1

P = (2.8, -1)

The coordinates of point P (rounded to one decimal place) along the directed line segment AB are approximately (2.8, -1).

Given that the line segment has been divide into ratio 3:2 by a point P, we need to find the coordinates of the point P.

To find the coordinates of point P along the directed line segment AB, such that the ratio of AP to PB is 3 to 2, we can use the concept of section formula in coordinate geometry.

Let's assume the coordinates of point P are (x, y). According to the given information, the ratio of AP to PB is 3 to 2. This means that the distance between A and P (AP) is three times the distance between P and B (PB).

The section formula states that if a point P(x, y) divides the line segment joining points A(x₁, y₁) and B(x₂, y₂) in the ratio m:n, then the coordinates of point P can be calculated as:

x = (mx₂ + nx₁) / (m + n)

y = (my₂ + ny₁) / (m + n)

In this case, m = 3 and n = 2.

Coordinates of A: (x₁, y₁) = (-2, -4)

Coordinates of B: (x₂, y₂) = (6, 1)

Ratio m:n = 3:2

Now, let's plug the values into the section formula to find the coordinates of P:

x = (3 · 6 + 2 · (-2)) / (3 + 2)

= (18 - 4) / 5

= 14 / 5

= 2.8

y = (3 · 1 + 2 · (-4)) / (3 + 2)

= (3 - 8) / 5

= -5 / 5

= -1

So, the coordinates of point P is (2.8, -1).

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A recipe calls for 2/3 cup of milk. How much milk should be used to make 1/6 of the recipe?

Answers

________________

The answer is 1/9

_________________

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