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Ron will not make his monthly goal of $4,123 and will need $359.74 to supplement his monthly income when he retires.

Compound interest simply means that the interest associated with a bank account, loan, or investment increases exponentially over time.

Given monthly income of Ron is $3,142.23

Ron is 25 years old and is retiring at the age of 65. so he has 40 years to contribute.

Total amount he contribute in 40 years paying 5.5% compounded monthly is given by

interest rate(r) = 0.055/12

time period = 40 years = 480 months

Principal amount = $314.223

Future value = [tex]P(\frac{(1+r)^{n}-1 }{r} )[/tex]

Substitute, we get,

= 3142.23 [tex].10(\frac{(1+\frac{0.055)^{12.40}-1) }{12} }{\frac{0.055}{12} }[/tex]

Thus, future value is $547074.681009.

After retirement his monthly income when he has $547074.681009 amount.

P = (A.i/2)/(1-(1+i/12)⁻ⁿ)

Putting values, we get,

P = (547074.68×0.55/12)/1-(1+0.055/12)⁻²⁴⁰

P = $3763.25

He will receive a monthly income of $3763.25.

But  given he will need a monthly income of $4,123 for 20 years, which is not met by Ron.

So, the amount he needs to supplement his monthly income when he retires by (4123-3763.25)= $359.74

Hence, Ron will not make his monthly goal of $4,123 and will need $359.74 to supplement his monthly income when he retires.

For more references on Compound interest, click;

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Using continuous compounding and compound interest, it is found that Matthew would have $17 more than Elizabeth in his account.

Compound interest:

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

Continuous compounding:

[tex]A(t) = Pe^{rt}[/tex]

The parameters are:

For both of them:

Elizabeth:

Then:

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

[tex]A(8) = 970\left(1 + \frac{0.06625}{365}\right)^{365(8)}[/tex]

[tex]A(8) = 1648[/tex]

Matthew:

Then:

[tex]A(t) = Pe^{rt}[/tex]

[tex]A(8) = 970e^{0.0675(8)}[/tex]

[tex]A(8) = 1665[/tex]

The difference is:

1665 - 1648 = 17

Hence, Matthew would have $17 more than Elizabeth in his account.

A similar problem is given at https://brainly.com/question/24507395

Answer:

The equation that represents the above statement is 17+x = 23

The value of x in the equation is 6

Step-by-step explanation:

17+x = 23

x = 23 - 17

x = 6

Given:-

To Find :-

Solution :-

According to the question, box has 120 mangoes . The number of mangoes he sold will be ,

[tex]\longrightarrow[/tex] n(sold) = 60% of 120

[tex]\longrightarrow[/tex] n(sold) = 60/100 × 120

[tex]\longrightarrow[/tex] n(sold) = 3/5 × 120

[tex]\longrightarrow[/tex] n(sold) = 72

Hence the number of mangoes left will be ,

[tex]\longrightarrow[/tex] n(left) = 120 - 72

[tex]\longrightarrow[/tex] n(left) = 48

Hence the number of mangoes left is 48.

Answer:

2x^2+5x-3

Step-by-step explanation:

Step-by-step explanation:

If you like my answer than please mark me brainliest thanks

Answer:

ABC= 60

DCE= 65

DEF= 105

Step-by-step explanation:

Answer:

Step-by-step explanation:

ΔABC is equilateral since all sides marked as congruent. Therefore:

ΔCDE is isosceles since two sides marked as congruent:

∠DEF forms a linear pair with ∠DEC, so they sum to 180°:

Answer:

2 2/3

Step-by-step explanation:

absolute value means the distance between a number and 0 so therefore the absolute value s 2  2/3

Answer:

155

Step-by-step explanation:

Answer: 155

Step-by-step explanation:

73

+82

155

Answer:

For Monica : Principle = $300 rate : 3.4% time 1 yr

Simple interest = Prt/100 = 300*3.4*1/100 = 1020/100= $ 10.2

For Paul : Principle = $400 rate : 2.8% time 1 yr

Simple interest = Prt/100 = 400*2.8*1/100 = 1120/100= $ 11.2

Step-by-step explanation:

Hello there!

Grace has $105 for pizzas and a cake.

She sets aside $25, so we subtract:

105-25=80

So she has $80 for pizzas.

Now, to find out how many pizzas Grace can buy, we take $80 and divide it by the price of one pizza (9.25):

The approximate answer is 8.6

Hope it helps

~Just a gloomy teen who misses her best friend

#CarryOnLearning

[tex]SilentNature[/tex]

Answer: its 6

Step-by-step explanation: just divide 966 by 161 and the answer would be 6

Answer:

90%

Step-by-step explanation:

Answer:Let's assume x be the smaller number.

Given that, The greater number is 4 more than the smaller number.

So, greater number= x+4.

It's also given that, The sum of two numbers is 52. Which means sum of x and x+4 must be equa to 52. Hence,

x + (x + 4) = 52

Step-by-step explanation:

Answer: B (x=1)

The x-axis shows all the zeros (solutions).

If you were trying to find the slope and the equation of the line, you would go y/x for the slope.

While, b is the y axis, which is 3 in this case.

And the slope is 3/1, which is rise over run (y/x)

Linear equations: y = mx+b

Quadratic equation: ax^{2}+bx+c

(Not going to go in much more depth)

The equation of this line is y = 3x + 1

Answer:

Zara ate 50 almonds last week

Step-by-step explanation:

part to whole ratio is 50 : 100

150 divided by 2 is 75

100 divided by 50 is equal to 2

Zara ate 50 almonds last week

pls mark brainliest if this helped :)

Answer:

t=(v-u)/a

hope it will help you

Answer:

just do sinx and cos y equal when x=y= multiple of pie by 4

Step-by-step explanation:

pie by 4 plus pie by 4 = 90

If I helped please mark brainliest it means a lot to my progression! <3 Thanks!

Answer: she worked 31 hours ( I believe so)

Step-by-step explanation: hope that helps

Answer:

ABD ≅ ACD and PQS ≅ PRS

Step-by-step explanation:

For ABD ≅ ACD;

AB = AC = 3.5

BD = CD = 2.5

AD ≅ AD by reflexive

Since all 3 sides are congruent, SSS can be used

For PQS ≅ PRS

PQ≅PR by given

QS≅RS by given

PS≅PS by reflexive property

Since all 3 sides are congruent, SSS can be used and they are congruent

Answer:

The equation of a linear function is expressed as: y = mx + b where m is the slope of the line or how steep it is, b represents the y-intercept or where the graph crosses the y-axis and x and y represent points on the graph.

Step-by-step explanation:

Answer:

A.  b ≤  -3

Step-by-step explanation:

Isolate the variable by dividing each side by factors that don't contain the variable.

Answer:

C

Step-by-step explanation:

Answer:

X=80

Step-by-step explanation:

As 100⁰ is Opposite to B and AD and EH Are PARALLEL so B=100⁰

180-100

=80⁰

Answer:

Approx 3 hours.

Step-by-step explanation:

750 + 255c = 1605

255 c = 855

c = approximately 3 hours.

Answer:

The crew worked 6 hours.

Step-by-step explanation:

$255 x 6 = $1530

Add the "Per Day Fee" of $75

$1530 + $75 = $1605 Dollars

Answer: The percent of increase is 66.67%.

Step-by-step explanation:

Find the percent of increase of baseball cards.

Step 1: Subtract the starting value from the final value.

                                       65 - 39 = 26

Step 2: Take the value you get and divide it by the starting value.

                                       26 ÷ 39 = 0.666667

Step 3: Multiply what you get by 100.

                                       0.666667 × 100 = 66.6667

Step 4: Round what you get the nearest hundredth of a percent.

                                        66.6667 → 66.67%

Answer:

5261.436 would be the answer

Answer:

I have attached my answer below.

Step-by-step explanation:

Not sure if its correct or not. Hope this helps!!

Answer:

C.            

Step-by-step explanation:

It is correct because the line on the graph goes up (increases) then it goes back down (decreases)

Answer:

The graph increases, then decreases

Step-by-step explanation:

The graph goes up, showing it increases, then drops down, showing it decreases.

Hope this helps!