Business, 01.10.2019 22:30 zeinabelsiblini

Assume that you are 30 years old today, and that you are planning on retirement at age 65. your current salary is $45,000 and you expect your salary to increase at a rate of 5% per year as long as you work. to save for your retirement, you plan on making annual contributions to a retirement account. your first contribution will be made on your 31st birthday and will be 8% of this year's salary. likewise, you expect to deposit 8% of your salary each year until you reach age 65. assume that the rate of interest is 7%.

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Answer from: rstredway7693

retirement at age 65. $580,563.69

Explanation:

Birth Salary%Incr Incr% Contrib.Cont. NN x Retirement

3045.0005%

3147.2505%2.2508%3.780341,079,9822.450,76

3249.6135%2.3638%3.969331,079,3322.031,12

3352.0935%2.4818%4.167321,078,7221.619,32

3454.6985%2.6058%4.376311,078,1521.215,22

3557.4335%2.7358%4.595301,077,6120.818,67

3660.3045%2.8728%4.824291,077,1120.429,54

3763.3205%3.0158%5.066281,076,6520.047,68

3866.4855%3.1668%5.319271,076,2119.672,96

3969.8105%3.3248%5.585261,075,8119.305,24

4073.3005%3.4908%5.864251,075,4318.944,39

4176.9655%3.6658%6.157241,075,0718.590,29

4280.8145%3.8488%6.465231,074,7418.242,81

4384.8545%4.0418%6.788221,074,4317.901,82

4489.0975%4.2438%7.128211,074,1417.567,21

4593.5525%4.4558%7.484201,073,8717.238,85

4698.2295%4.6788%7.858191,073,6216.916,63

47103.1415%4.9118%8.251181,073,3816.600,43

48108.2985%5.1578%8.664171,073,1616.290,14

49113.7135%5.4158%9.097161,072,9515.985,65

50119.3985%5.6868%9.552151,072,7615.686,85

51125.3685%5.9708%10.029141,072,5815.393,64

52131.6375%6.2688%10.531131,072,4115.105,91

53138.2195%6.5828%11.057121,072,2514.823,56

54145.1295%6.9118%11.610111,072,1014.546,48

55152.3865%7.2568%12.191101,071,9714.274,58

56160.0055%7.6198%12.80091,071,8414.007,77

57168.0065%8.0008%13.44081,071,7213.745,94

58176.4065%8.4008%14.11271,071,6113.489,01

59185.2265%8.8208%14.81861,071,5013.236,88

60194.4875%9.2618%15.55951,071,4012.989,46

61204.2125%9.7248%16.33741,071,3112.746,67

62214.4225%10.2118%17.15431,071,2312.508,41

63225.1435%10.7218%18.01121,071,1412.274,61

64236.4015%11.2578%18.91211,071,0712.045,18

65248.2215%11.8208%19.85801,071,0011.820,03

580.563,69

Answer from: Quest

start by isolating the variable on one side by adding 43w^2 to both sides. the equation will read:

25w^2+5=0

*subtract 5 from both sides*

25w^2=-5

*divide both sides by 25*

w^2=-1/5

*take the square root of both sides*

w=√(-1/5)

the square root of -1 is i. the square root of 5 remains √5

the answer is i/√5.

hope this

Answer from: Quest

answer; lags, push the econ below the natural level of output;

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