Steve inherited $100.000 from his grandmother and deposited it into an account that compounds interest monthlv at a rate of 4.8%. Each month he withdraws $500 from the account. How long will it take him until the account has a balance of $0? Round your answer to the nearest tenth of a year.

Answers

Answer 1

Using the compound interest formula, if the account compounds at 4.8% monthly and he withdraws $500 monthly, it will take Steve 33 years, 7 months (403 months) to reduce $100,000 to a balance (future value) of $0.

What is the difference between the future and present value?

The future value is the compounded present value, while the present value is the discounted future value.

However, with periodic withdrawals, a present value that compounds at an interest rate into the future can become $0 (future value) after some periods.

The time (period) Steve reduces his inheritance to $0 can be computed using an online finance calculator as follows:

I/Y (Interest per year) = 4.8%

PV (Present Value) = $100,000

PMT (Periodic Payment) = $-500

FV (Future Value) = $0

Results:

N (# of periods) = 403.164

Sum of all periodic payments = $-201,581.83

Total Interest $101,581.83

Thus, after 403 monthly withdrawals, Steve's inheritance will be reduced to a $0 future value.

Learn more about the future value at https://brainly.com/question/24703884

#SPJ1


Related Questions

What is the length of the radius of a circle given the equation x² y² 8?

Answers

The length of the radius of the given circle with the equation x² + y² = 8 is 2√2 units.

What is a circle?

All points in a plane that are at a specific distance from a specific point, the center, form a circle.

In other words, it is the curve that a moving point in a plane draws to keep its distance from a specific point constant.

In the center of a circle, equal chords subtend equal angles.

The chord is divided in half by the radius drawn perpendicular to it.

So, the length of the radius of the circle is:

The formula for the circle's general equation is: (x - h)² + (y - k)² = r²

Where, the center is (h, k) and the radius is represented by r.

The equation we have: x² + y² = 8

Then, r² = 8

Taking square root as follows:
r = √8

r = √2*2*2

r = 2√2

Therefore, the length of the radius of the given circle with the equation x² + y² = 8 is 2√2 units.

Know more about circles here:

https://brainly.com/question/24375372

#SPJ4

Correct question:
What is the radius of the circle whose equation is x² + y² = 8?

What is a parent in a graph?

Answers

A parent graph is the graph of a relatively simple function. By transforming the function in various ways, the graph can be translated, reflected, or otherwise changed.

What is a Parent Function?

A parent function is an equation in the simplest form of a family of functions. A family of functions is a collection of functions that represent similar characteristics and/or transformations of its parent function. A parent function can be represented with different degree values such as degrees 1, 2, or 3.

The most basic parent function is called a constant function. A constant function is one such that y = b, where b is the constant value. A constant function creates a straight horizontal line that will intersect the y -axis.

Hence the answer is A parent graph is the graph of a relatively simple function. By transforming the function in various ways, the graph can be translated, reflected, or otherwise changed.

To learn more about parent graph click here https://brainly.com/question/28471443

#SPJ4

a rectange has the area of 60 in2. what can its dimentions be? copy and fill in the chart. length 1,2,10,30,120,3,_,5,_ width 60,_,_,_,_,_,5,_,100
PLS HELP FAST

Answers

The length and width of the rectangle can be 30 and 2 inches, 1 inches and 60 inches and 12 inches and 5 inches.

How to find the area of a rectangle?

A rectangle is a quadrilateral with opposite sides equal to each other. Opposite sides of a rectangle is equal to each other.

A rectangle has the area of 60 in².

The dimension of the rectangle can be as follows:

area of a rectangle = lw

where

l = lengthw = width

Therefore,

60 = 30 × 2

60 = 1 × 60

60 = 12 × 5

learn more on rectangle here: https://brainly.com/question/20788645

#SPJ1


A soda container holds 5 gallons of soda. How many ounces of soda does this container hold?
1 quart = 32 ounces
1 gallon = 4 quarts
1)44
2)176
3)640
4)704

Answers

The answer is 2)640

write -1/2x + 4 = 10 in slope intercept form

Answers

Answer:    y=-1/2x+4

Step-by-step explanation:

How can dilations and similarity be modeled in real-world examples?

Answers

Answer:

It is common to dilate photos to fit the space that you want it to fit. In police work and crime investigation. Detectives and police dilate photos to see smaller details and evidence. In architecture.

Step-by-step explanation:

0.9 + 3.706 + 54.23 + .1637 =

Answers

Answer: i think its 58.9997

Step-by-step explanation:

For the following right triangle, find the side length x. Round your answer to the nearest hundredth.

Answers

Answer:

x ≈ 15.62

Step-by-step explanation:

using Pythagoras' identity in the right triangle.

the square on the hypotenuse is equal to the sum of the squares on the other 2 sides, that is

x² = 12² + 10² = 144 + 100 = 244 ( take square root of both sides )

x = [tex]\sqrt{244}[/tex] ≈ 15.62 ( to the nearest hundredth )

The braking distance y in feet that it takes a car to stop on​ wet, level pavement can be estimated by y=1/25x^2 ​, where x is the speed of the car in miles per hour. Find the speed associated with the braking distance of 196 feet.

Answers

in essence, find "x" when y = 196

[tex]y = \cfrac{1}{25}x^2\qquad \stackrel{\textit{when y = 196}}{196=\cfrac{1}{25}x^2}\implies (196)(25)=x^2 \\\\\\ \sqrt{(196)(25)}=x\implies {\Large \begin{array}{llll} \stackrel{\frac{m}{h}}{70}=x \end{array}}[/tex]

2. Show that you get the same prime factorization of 220 with 220=2 \times 110 or with 220=10 times 22
3. What numbers might be in the following form when numbers? Give 2 or 3 answers.

Answers

This is 224's prime factorization. This is the method of repeated division, and the prime factorization of 224 is 2 2 2 2 7.

What is the 220 factorization in terms of primes?

Image for number 2. Show that the prime factorization of 220 is the same when 220 is multiplied by 2 times 110 or 10 times 22. What numbers might possibly be in the next form when numbers? Give two or three responses.

Therefore, 22 51 111, where 2, 5, and 11, can be expressed as 220's prime factorization.

220 has three prime factors, which are 22; 51; and 111. Here, the pair does not contain the prime factor 5. Consequently, 220 is not a square perfectly.

Consequently, the first ten multiples of 220 are as follows: 220, 440, 660, 880, 1100, 1320, 1540, 1760, 1980, and 2200.

To learn more about  factorization in terms of primes refer to

https://brainly.com/question/13390896

#SPJ4

A baseball player has 746 plate appearances in his first year, 727 plate appearances
in his second year, and 512 plate appearances in his third year. How many plate
has the player had in three years?
appearances
O 2,075
O 1,975
O 1,885
O 1,985

Answers

The player has a total plate of 1985 plate appearances (optionD)

What is addition?

Addition is a way of combining things and counting them together as one large group. Addition is a process of combining two or more numbers. Addends are the numbers added, and the result or the final answer we get after the process is called the sum. For example if there a 5oranges, 6 bananas and 9 pineapple Ina basket. The total fruit in the basket is 5+6+9= 20 fruits

The baseball player has 746 plate appearances in his first year and 727 plate appearances in the second year and 512 in his third year.

The total plate appearances = 746+727+512=1985 plate appearances

Therefore the plate appearance the player had in three years is 1985 plate appearances.

learn more about addition from

https://brainly.com/question/25421984

#SPJ1

Factor the expression using the GCF 24y+88x

Answers

Factor the expression using the GCF 24y+88x

24y+88x

GCF is 8:

8(3y + 11x)

How do you isolate the variable by dividing each side by factors that don't contain the variable?

Answers

We isolate the variable in an equation by dividing both sides of the equation in which one side does not contain any variable.

According to the question,

We have the following information:

Isolating a variable by dividing each side of the equation in which one side does not contain any variable.

Now, in this case, it is clearly stated that the first step to isolate the variable from the equation is to perform division.

Now, this can be done as follows in the given equation:

2x = 14

Now, the variable x can be isolated by dividing both sides of the equation by 2:

x = 14/2

x = 7

Hence, we isolate the variable in an equation by dividing both sides of the equation in which one side does not contain any variable.

To know more about variable here

https://brainly.com/question/25058584

#SPJ4

In, a city had a population of 310,000 people. Each year since 2007, the population has grown by 4.8%.
Let t be the number of years since. Let y be the city's population.
Write an exponential function showing the relationship between t and y.

Answers

The exponential function showing the relationship between t and y is y = 310000(1.048)⁺

How to determine the exponential function?

From the question, we have the following parameters that can be used in our computation:

Initial population = 310000

Rate of growth = 4.8%

These parameters can be represeted as

a = 310000 and r = 4.8%

An exponential function is represented as

y = a(1 + r)⁺

Substitute the known values in the above equation, so, we have the following representation

y = 310000 (1 + 4.8%)⁺

Evaluate

y = 310000(1.048)⁺

Hence, the function is y = 310000(1.048)⁺

Read more about exponential function at

https://brainly.com/question/11464095

#SPJ1


By rounding each number to the nearest 10, estimate the value of 197 ÷ 10.3

Answers

Answer:

20

Step-by-step explanation:

197 rounded to the nearest 10 is 200.

10.3 rounded to the nearest 10 is 10.

So, 200 ÷ 10 = 20

Answer:

20

Step-by-step explanation:

We are rounding to the nearest 10.

197≈200

10.3≈10

After you have rounded the numbers, The equation simplifies a whole bunch.

200/10=20

Please Mark As Brainliest

HURRY PLS!!

Kevin took $45 with him to spend on snack for himself and his friends at the movie theater. The price for each bucket of popcorn was $4. The price of each drink was half the price of a bucket of popcorn.
A. Sketch the graph that represents the situation and label the intercepts. Use one axis to represent the number of buckets of popcorn and the other axis to represent the number of drinks.
Explain your graph.

B. Graph the absolute value function.

C. (a) Graph a linear function of your choice. On the same graph, graph a linear function transformed 2 units up and 3 units down.
(b) What was the equation of your linear function in slope-intercept form?
(c) What was the equation of the transformed function in slope-intercept form?

Answers

The equation of Kevin's scenario is 4x + 2y = 45

The absolute equation is y = 2|x - 3| + 5The equation of the linear function in slope-intercept form is y = 2x + 3The equation of the transformed function in slope-intercept form is y = 2x - 1

How to determine Kevin's equation

From the question, we have the following parameters

Amount = $45Bucket of popcorn = $4Bucket of each drink= Half the bucket of popcorn = $2

Represent the buckets of popcorn with x and the number of drinks with y

So, we have the following equation

4x + 2y = total amount

This gives

4x + 2y = 45

See attachment for the graph

The graph of an absolute function

An absolute function is represented as

y = a|x - h| + k

Where the vertex is (h, k)

So, we make use of the following function

y = 2|x - 3| + 5

See attachment 2 for the graph

The graph of a linear function

Here, we are to make use of any equation

A linear equation is represented as

y = mx + b

Where

slope = m

y-intercept = b

So, we make use of

m = 2 and b = 3

This gives

y = 2x + 3

When transformed 2 units up and 3 units down, the resulting equation is

y = 2x + 2 - 3

Evaluate

y = 2x - 1

Read more about graphs at:

brainly.com/question/16957172

#SPJ1

Find the sum of 3/4 and 5/7

Answers

3/4 add to 5/7 is 1 and 13/28

What is the rate of change for the equation y = 4x + 100?
The rate of change is .

Answers

The rate of change for the given equation is 4.

What Is the Rate of Change Formula?

The rate of change formula gives the relationship describing how one quantity changes in relation to the change in another quantity. The rate of change from the coordinates of y to coordinates of x can found out as

Δy/ Δx = (y2 - y1 )/ (x2 - x1).

Given an equation, y = 4x + 100

Slope = 4

Hence, The rate of change for the given equation is 4.

For more references on rate of change, click;

https://brainly.com/question/29518179

#SPJ1

PLEASE HELP ASAP!!! FULL ANSWER!!!
A person standing close to the edge on top of a 40-foot building throws a ball vertically upward. The quadratic function h = − 16t^2 + 72t + 40 models the ball's height above the ground, h , in feet, t seconds after it was thrown.

a) What is the maximum height of the ball? _____________ feet

b) How many seconds does it take until the ball hits the ground? _____________ seconds

Answers

Answer:

a) 121 feet ; b) 5 seconds

Step-by-step explanation:

maximum height = y coordinare of vertex


x coordinate = -72/2 * -16

-72/-32 = 9/4 = 2.25


y coordinate =

-16(2.25)^2 + 72(2.25) + 40

-81 + 162 + 40

-81 + 202 = 121 feet


The ball hits the ground when y = 0

-16t^2 + 72t + 40 = 0

-2t^2 + 9t + 5 = 0


discriminant = 81 -4 (-2 * 5) = 81 -4(-10) = 81 + 40 = 121

We are searching only positive value

t = (-9 -11)/-4 = -20/-4 = 5 seconds

What is an equation of the line that passes through the points (-6,6) and (-3,1)?

Answers

Answer:

y=-[tex]\frac{5}{3}[/tex]x-4

Step-by-step explanation:

find the slope m = [tex]\frac{y2-y1}{x2-x1}[/tex]

m=[tex]\frac{1-6}{-3+6}[/tex]

m=-[tex]\frac{5}{3}[/tex]

Use the slope and one of the points to solve for the y-intercept

y1=mx1+b

6=-[tex]\frac{5}{3}[/tex](-6)+b

6=10+b

b=6-10

b=-4

plug the values for m and b into y=mx+b

y=-[tex]\frac{5}{3}[/tex]x-4

Answer:

y= -1.6x+12Step-by-step explanation:

First find the slope.

m=y2-y1 / x2-x1

m= 1-6

-3-(-6)

m=-5

-3+6

m=-5

3

m= -1.6

y-y1=m(x-x1)

y-6= -1.6(x-(-6))

y-6= -1.6x+6

y=-1.6x+12

Graph the line for y-6=-4(x+2) on the coordinate plane.

Answers

Answer:

x

Step-by-step explanation:

x

Answer:

Step-by-step explanation:

the answer is 8

Please help will mark Brainly

Answers

Answer: Horizontal Translation

Step-by-step explanation:

what is the solution a b to this system of linear equations 3a6b45 2a 2b 12

Answers

Solution of the system of linear equation 3a + 6b = 45 , 2a -2b = -12 is equal to a = 1 and b =7.

As given in the question,

System of linear equation are:

3a + 6b = 45 __( 1 )

2a - 2b = -12 __(2 )

Solution of the linear equation by elimination method is given by:

Multiply ( 2 ) by 3 and add it to (1) we get,

3a + 6b = 45

6a - 6b = -36

9a         = 9

⇒ a = 1

Substitute the value of a = 1 in (1) we get,

3( 1 ) + 6b = 45

⇒ 6b = 42

⇒ b = 7

Therefore, the solution of the system of linear equation is a = 1 and

b =7.

The complete question is :

What is the solution (a, b) to this system of linear equations?

3a+6b = 45 ,  2a-2b = -12

a. (-27, 6)

b. (-1, 7)

c. (1, 7)

d. (27, -6)

Learn more about system of linear equation here

brainly.com/question/19549073

#SPJ4

What are the 4 steps to solve a Punnett square?

Answers

Answer step-by-step explanation:

Step 1: Write out the cross T = tall, t = short Tt x Tt.

Step 2: Draw 2 by 2 Punnett square.

Step 3: Write the alleles for parent 1 on.

the left side of the Punnett square.

Step 4: Write the alleles from parent 2.

above the Punnett square.

Which expression is equivalent to 24³ ?
2√3
2³√3
2√6
2³√6

Answers

Answer:

[tex]2 \sqrt[3]{3} [/tex]

Step-by-step explanation:

[tex]24 {}^{ \frac{1}{3} } [/tex]

[tex] \sqrt[3]{24} [/tex]

[tex] \sqrt[3]{8 \times 3} [/tex]

[tex] \sqrt[3]{8} \times \sqrt[3]{3} [/tex]

[tex] \sqrt[3]{2 {}^{3} } \times \sqrt[3]{3} [/tex]

[tex]2 \times \sqrt[3]{3} [/tex]

[tex]2 \sqrt[3]{3} [/tex]

Find f(h(x)).
f(x) = x² + 4
h(x)=√x-3

Answers

Answer:

[tex]f(h(x)) = ( \sqrt{x} - 3)^{2} + 4[/tex]

[tex]f(h(x)) = (x - 9) + 4[/tex]

[tex]f(h(x)) = x - 5[/tex]

Step-by-step explanation:

h(x) became x for function of f(x)

determine if the two triangles are congruent if they are state how you know

Answers

Two triangles are congruent if they satisfy SSS or ASA or SAS or AAS or RHS criteria.

What is the meaning of congruent triangles?

If two triangles have both the same shape and the same size then it is said that the two triangles are congruent. In other words, two triangles are congruent if they are copies of each other.

We can prove that two triangles are congruent if they satisfy any one of the following criteria:-

SSS (side side side ):- If three sides of one triangle are equal to the corresponding three sides of the other triangle.

SAS ( side angle side ):- If two sides and the included angle of one triangle are equal to the corresponding sides and angle of another triangle.

ASA ( angle side angle ):- If two angles and the included side of one triangle are equal to the corresponding angles and side of another triangle.

AAS ( angle angle side ):- If two angles and a none included side of a triangle are equal to the corresponding angles and side of another triangle.

RHS (right hypotenuse side ):- If the hypotenuse and one side of the right triangle are equal to the corresponding side and the hypotenuse of another triangle.

Hence, two triangles are congruent if they satisfy any one of the criteria of congruence (SSS, ASA, SAS, AAS or RHS).

Read more about Congruent Triangles at
https://brainly.com/question/28914794
#SPJ4

What is the double of 8 in math?

Answers

Using doubles plus one fact the sum of 8 + 8 + 1is equal to 17 it is done by simply adding 1 to the given number.

Doubles plus one fact is used to add numbers which are next to each other.

Doubles plus one fact is simply done by doubling the number and adding one to it.

The sum of 8 + 8 can be determined by using doubles plus one fact as:

Simply add 1 in 8 + 8 + 1 to get the result required.

8 + 8 + 1 = 17

Therefore by using doubles plus one fact the sum of 8 + 8 + 1 is equal to 17.

Learn more about addition refer here

brainly.com/question/778086

#SPJ4

HELP ME QUICK PLEASE!!!!!

Which inequality is a true statement?
Select each correct answer.
-3>-1
-3 ≥ -1
-3=-1
-3≤-1
-3 <-1

Answers

Answer:

-3 <-1

-3 is less than -1.

Compare the graph to the graph of f(x)=|x| and m(x)=|x+1|

Answers

The graph of f(x)=|x| and m(x)=|x+1| is 1 unit left translation

How to describe the transformation from the parent function?

From the question, we have the following function that can be used in our computation:

f(x) = |x|

m(x) = |x + 1|

First, we have the transformation to be:

From f(x) = |x| to m(x) = |x + 1|

This means the function is translated left by 1 unit

So, we can conclude that

The graph function is translated left by 1 unit

Read more about transformation at

brainly.com/question/27224272

#SPJ1

Other Questions
An organization is most likely to pursue a personalization approach to knowledge management when ________.A) the different functions in the organization provide standardized information which can be used by other functions for mutual adjustmentB) the organization wants to collect, analyze, and store knowledge in databases where it can be retrieved easily by users who input organization-specific commands and keywords.C) the organization operates in a rapidly changing technical environment and provides customized products and solutions to clientsD) the organization wants to implement standard rules and operating procedures the primary symptom of hemispatial neglect is Genghis wants to develop a new application that requires a database. He does not, however, want to be responsible for managing the patching and security of the operating system for yet another server. Which of the following would best serve his needs? a. SaaSb. DaaSc. IaaSd. PaaS Locate the centroid of the plane area shown if a = 27 mm and b = 45 mm. Round the final answer to two decimal places. In 1980, about 17.7 million households had cable television. This was about 25.8% of the households that had cable in 2000. How many households had cable in 2000? Away and mock time with fairest show: false face must hide what the false heart doeth know. Which theme is best reflected in these lines? Read the excerpt from Dr. Jekyll and Mr. Hyde. Then, answer the question that followsTwo doors from one corner, on the left hand going east the line was broken by the entry of a court, and just at that point a certain sinister block of building thrustforward its gable on the street. It was two stories high, showed no window, nothing but a door on the lower story and a blind forehead of discoloured wall on theupper, and bore in every feature, the marks of prolonged and sordid negligence. The door, which was equipped with neither bell nor knocker, was blistered anddistained.Which element of setting is most evident from the bolded words in the passage above?O Historical contextO MoodO TimeO Weather select all that apply. technological fluency information need expression of information rote hardware and software learning content and communication focus are there any other types of technology that can attach to satellites and assist it in data collection? an open box is to be made from a two-foot by three-foot rectangular piece of metal by cutting equal squares from the corners and turning up the sides. find the volume of the largest box that can be made in this manner. round your final answer to the nearest hundredth. which of the following gives the correct sequence of layers in earth, from the surface to the center? group of answer choices mantle, crust, inner core, outer core crust, inner core, mantle, outer core inner core, outer core, mantle, crust outer core, inner core, crust, mantle crust, mantle, outer core, inner core which passage from the open window demonstrates the use of foreshadowing What is entrepreneur flexibility? What is a political party known by? What do most candidates need to win an election? A triangle has side lengths of n, n 3, and 2(n 2). If the perimeter of the triangle is at least 37 units, what is the value of n?OA. n> 11OBn> 8O C. n > 10. 5ODn > 7. 5 a nurse is providing care to a terminally ill client. which finding would alert the nurse to the fact that the client is dying? select all that apply. Which of the following statements tend to explain why turnout is higher in competitive elections?Voters know about the candidates in competitive elections.Voters are more interested in competitive elections. Multiply and write a fraction or mixed numbers in its simplest form2/5 x 6/7 You have an urn with 6 red, 10 blue and 4 black balls.What is the probability that you take different colours in two"picks"?