Al Darby wants to withdraw $21300 (including principal) from an investment fund at the end of each year for five years. How should he compute his required initial investment at the beginning of the first year if the fund earns 11% compounded annually?

PV= $78,722.61

Explanation:

Giving the following information:

Annual pay= $21,300

Interest rate= 11%

Number of periods= 5 years

First, we need to calculate the future value of the payments:

FV= {A*[(1+i)^n-1]}/i

A= annual pay

FV= {21,300*[(1.11^5) - 1]} / 0.11

FV= $132,652.17

Now, the initial deposit:

PV= FV/(1+i)^n

PV= 132,652.17/1.11^5

PV= $78,722.61

Prove:

Annual withdraw= (PV*i) / [1 - (1+i)^(-n)]

Annual withdraw= (78,722.61*0.11) / [1 - (1.11^-5)

Annual withdraw= $21,300

ans.

heterothermic organisms include those organisms that can switch between homeothermic (having body temperature higher than environment) and poikilothermic (having variation in internal body temperature) strategies.

some migratory birds show heterothermy as they decrease their metabolic rate during cold nights to keep their body temperature low. drop in metabolic rate allows increase in production efficiency of birds that reduces the internal body temperature to make it equal to external cold temperature during cold nights.

thus, the correct answer is 'birds allow their temperature drop in order to increase their production efficiency.'

answer; (a) conduct a worksite inspection;