You would like to have $500,000 when you retire in 35 years. How much should you invest each quarter if you can earn a rate of 2.6% compounded quarterly?

$201,855.65136317

Step-by-step explanation:

A= $500000 P= ? R = 2.6 N = 35*4= 140

A= P(1+R/4*100)^4n

$500000 = P(1+2.6/400)^140

$500000 = P(402.6/400)^140

$500000 = P* 2.4770175946196

500000/2.4770175946196 = P

$201,855.65136317 = P

I did it using calculator for great precision.

Thank you

system of linear equation

step-by-step explanation:

as given in the data

a= 20 , b= -12

let us suppose that it is a straight line equation

now we know the formula for the system of linear equation

b= ma + c )

here m is slope of a straight line which is equal to formula

m=   (ii)

and here c is a constant

now putting the value of a and b in equation (ii)

m=

m=

putting the value of a,b and m in equation (i) gives us

-12 = + c

-12=-12 + c

adding 12 to both sides

-12 +12 = -12 +12 +c

0 =c

or c=0

as the value of the constant is zero which gives us that it is a linear equation and this order pair satisfies the system of linear equations.