Adam is wanting to start saving for retirement but they don’t know how much they can afford to save from their monthly budget. Help Adam find their monthly cash flow.

Adam works at Tim Horton’s making $15/hour, 32 hours a week. (Assume they take no vacations.)

Expenses are: Rent: $650/month, Groceries: $75/week, Utilities: $120/month, Car Insurance: $118/month, Gasoline: $30/week, and Miscellaneous: $400/month

Saving for Retirement (20 Pts)

Now, let’s pretend you are Adam. How much of your ending cash flow would you want to save for retirement? This will be the amount they will put in the IRA monthly.

Retirement Amount (20 Pts)

If Adam retires in 35 years and finds an IRA for 4.8%, how much money will be in their retirement account when they retire?

Amount Deposited (20 Pts)

How much will Adam deposit in total to their IRA?

Interest Accrued (20 Pts)

How much will Adam accrue in interest from their IRA?

Answers

Answer 1

1) Adam's monthly cash flows are:

Cash Inflows = $2,080Cash Outflows = $1,743.

2) I would save $300 monthly from the ending cash flow balance for retirement savings.

3) If Adam retires in 35 years and finds an IRA for 4.8%, the future value of their retirement account will be $326,070.43 when they retire.

4) In 35 years, Adam will deposit $126,000 in total to their IRA.

5) The accrued interest from the IRA will be $200,070.43.

What is the future value?

The future value represents the balance in Adam's retirement savings account after 35 years of depositing $300 monthly at 4.8% interest.

The future value is computed by compounding the periodic deposits (present values).

Adam's total monthly earnings = $2,080 ($15 x 32 x 52 x 1/12)

Monthly Expenses:

Rent $650

Groceries $325 ($75 x 52 x 1/12)

Utilities $120

Car Insurance $118

Gasoline $130 ($30 x 52 x 1/12)

Miscellaneous $400

Total monthly expenses = $1,743

Ending cash flows = $337 ($2,080 - $1,743)

Retirement period = 35 years

IRA interest rate = 4.8%

Monthly savings = $300

N (# of periods) = 420 months (35 years x 12)

I/Y (Interest per year) = 4.8%

PV (Present Value) = $0

PMT (Periodic Payment) = $300

Results:

Future Value (FV) = $326,070.43

Sum of all periodic deposits = $126,000 ($300 x 420)

Total Interest = $200,070.43

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Related Questions

Help please me find the answer need help as soon as possible

Answers

∠COD=72°

what is angle?

When two lines meet at a point, an angle is created. An "angle" is the measurement of the "opening" between these two rays. It is symbolised by the character. The circularity or rotation of an angle is often measured in degrees and radians. Angles are a common occurrence in daily life. Angles are used by engineers and architects to create highways, structures, and sports venues.

Given:

Let, ∠AOB=a=42°

∠EOF=b=66°

∠AOF=c

∠COD=d

by angle sum property,

a+b+c=180°

42°+66°+c=180°

c=72°

c=d because alternate angles are same

therefore d=72°

hence proved.

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What is the solution to this system of equations?
{3x-4y=-10
{4x+2y=-6

A. (2, 4)
B. (-1, -1)
C. (-2, 1)
D. (1, -5)

Answers

The correct option is C (-2, 1)

According to the question,

3x -4y = -10 --------equation 1

3x = 10 + 4y

[tex]x = \frac{ - 10 + 4y}{3} [/tex]

Also,

4x + 2y = -6 --------equation 2

Put the value of x in the equation,

4((−10+4y)÷3)+2y=−6

[tex] - \frac{40}{3} + \frac{16y}{3} + 2y = - 6[/tex]

[tex] \frac{ - 40 + 16y + 6y}{3} = - 6[/tex]

-40 + 22y = -6*3

-40 + 22y = -18

22y = 40-18

22y=22

y=1

Solving equation 1 for x by putting values if y

3x-4=-10

3x=-6

x=-2

Hence the values of x is -2 and y is 1

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Two basketball players are trying to have the most
points per game for the season. The current leader has
2112 points in 77 games and the second place player
has 2020 in 74 games. How many points per game did
the leading team score?
Round to the nearest tenth

Answers

The leading team scored 27.43 points  per game in basket ball game.

What is ratio?

Ratio basically compares quantities, that means it shows the value of one quantity with respect to the other quantity.

If a and b are two values, their ratio will be a:b,

Given that,

The points scored by current leader in 77 basket ball game = 2112,

And the points scored by second place player in 74 game = 2020.

The point scored by players in one match, use ratio property,

By current leader,

Points scored in 77 games = 2112

points scored in 1 game = 2112/77 = 27.43

By second place leader,

Points scored in 74 games = 2020,

Points scored in 1 game = 27.3

The leading team scored 27.43 points per game.

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Graph the function. Identify whether or not the graph is a function

Answers

Answer:

No

Step-by-step explanation:

Because a vertical line can intersect the curve more than once, the graph does not represent a function.

Is 2x^x a power function? Explain why or why not.

Answers

[tex]2x^{x}[/tex] is not a power function because variable exponent should be constant.

What is Power function?

A power function is a function with a single term that is the product of a real number, a coefficient, and a variable raised to a fixed real number.

The function is [tex]2x^{x}[/tex] is not a power function because a power function requires the exponent to be a constant value.

In the given function the variable x as power x which is variable.

The variable exponent should be constant.

When x is zero it is undefined. Another issue is the table indicates for negative values the output alternates between being positive and negative. So it is also not an exponential function either.

Hence,  [tex]2x^{x}[/tex] is not a power function because variable exponent should be constant.

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1.
Which inequality represents the expression 9 is less than or equal
to b?

Answers

Answer:

Step-by-step explanation:

9 ≤ b

( I think unless it faces the other side...if wrong then I'm sorry)

(1,6) and (3,8) find the slope

Answers

Answer

1

Step-by-step explanation:

1

(y2-y1) / (x2-x1)

(rise over run)

(8-6) / (3-1)

2/2

1

what the dog doing ?

Answers

The dog is playing with his chew toy!

Answer:

Explanation

Step-by-step explanation:

In general, dogs can run 15-20 mph

humans can run 6-8 mph

You are significantly slower than the dog,

the fastest human is around 27 miles per hour, unfortunately, even if you were this fast

the fastest dog can run 40 miles per hour as an estimate

even house cats can run at 30 mph maximum if they really wanted,

You have no chance of outrunning this dog, and barely a chance of outsmarting it if that option was available, in conclusion, the dog is chasing you at a speed of around 30 mph about 6-7x more than your own speed with no chance of outrunning it(the dog).

Many members of a certain workforce died from cancer supposedly resulting from exposure to radioactive
fallout Suppose that among the 215 members of the workforce, 91 developed cancer. For that time period
and for the age of the cohort, the incidence of cancer was about 40%. Use the randomization procedure
and a 0.05 significance level to test the claim that the sample of this workforce is from a population in which
the rate of cancer is greater than 40%. The accompanying set of 500 sample proportions (rounded to four
decimal places) was obtained by resampling using technology as part of the randomization procedure; use
P-value=
(Round to three decimal places as needed.)
ample Get more help -
Clear all
Check answer

Answers

The p-value of the test hypothesis is given as follows:

0.2420.

What are the hypothesis tested?

At the null hypothesis, it is tested if the proportion is not greater than 40%, that is:

[tex]H_0: p \leq 0.4[/tex]

At the alternative hypothesis, it is tested if the proportion is greater than 40%, that is:

[tex]H_1: p > 0.4[/tex]

What are the test statistic and the p-value?

The test statistic is given by the equation presented as follows:

[tex]z = \frac{\overline{p} - p}{\sqrt{\frac{p(1-p)}{n}}}[/tex]

In which the parameters are defined as follows:

[tex]\overline{p}[/tex] is the sample proportion.p is the proportion tested at the null hypothesis.n is the sample size.

The values of these parameters for this problem are given as follows:

[tex]p = 0.4, n = 215, \overline{p} = \frac{91}{215} = 0.4233[/tex]

Hence the test statistic is given as follows:

[tex]z = \frac{\overline{p} - p}{\sqrt{\frac{p(1-p)}{n}}}[/tex]

[tex]z = \frac{0.4233 - 0.4}{\sqrt{\frac{0.4(0.6)}{215}}}[/tex]

z = 0.7.

Using a z-distribution calculator, with a right-tailed test, as we are testing if the proportion is greater than a value, the p-value is of:

0.2420.

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the sum of a number (n) and 23 is 33. which equation shows this relationship?

Answers

n+23=33 - This equation shows this relationship.

Let, one number be = n

another number is =23

The sum of two numbers is = 33

The sum is the result of adding two or more numbers in mathematics. It is an essential and valuable concept in mathematics. The numbers which are to be added are called addends.

In short, some can be defined as a way by which all things can be put together. We can show an equation of a sum horizontally or vertically.

Horizontal Addition :

     59+37=96

Vertical addition:

    59

   +37

   = 96

Therefore, the equation is:  n+23 =33

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Mary has 26 coins. It equals $4.85 in dimes and quarters. How much of each kind of coin
does she have

Answers

Answer: 15 quarters, 10 dimes, and a penny

Step-by-step explanation: Hope it helps, please pick brainliest.

Answer:

15 quarters, 10 dimes, and a penny

The Royal Fruit Company produces two types of fruit drinks. The first type is 40% pure fruit juice, and the second type is 90%
pure fruit juice. The company is attempting to produce a fruit drink that contains 45% pure fruit juice. How many pints of each
of the two existing types of drink must be used to make 170 pints of a mixture that is 45% pure fruit juice?

Answers

Answer: 131.36363 pints of the first type of drink, and 38.63636 pints of the second type of drink.

Step-by-step explanation:

We can use the principle of linear equations. Let's say that the first type of drink is represented by x, and the second type is represented by y. We can then set up the following system of equations:

x + y = 170 (1)

0.4x + 0.9y = 0.45 * 170 (2)

We can solve for x and y using the methods of linear algebra. To do this, we can multiply equation (1) by 0.9, and equation (2) by 0.4, and then subtract the two equations to get the following equation:

0.9x - 0.4y = 0.45 * 170 - 0.4x - 0.9y

0.5x = 0.45 * 170 - 0.9y

x = (0.45 * 170 - 0.9y) / 0.5

We can substitute this expression for x into equation (1) and solve for y:

y = 170 - x

y = 170 - (0.45 * 170 - 0.9y) / 0.5

2.2y = 170 - 0.45 * 170

y = (170 - 0.45 * 170) / 2.2

y = 85 / 2.2

We can then substitute this value for y back into equation (1) to solve for x:

x = 170 - y

x = 170 - (85 / 2.2)

x = 170 - 38.63636

x = 131.36363

Therefore, the Royal Fruit Company needs to use 131.36363 pints of the first type of drink, and 38.63636 pints of the second type of drink, in order to produce 170 pints of a mixture that is 45% pure fruit juice.

7+2x/3=5 need help aspa

Answers

Answer:

x = –3

Step-by-step explanation:

7 + 2x/3 = 5

2x/3 = 5 – 7

2x/3 = –2

multiply both sides by 3

2x = –6

divide both sides by 2

x = –6/2

x = –3

please rate as brainliest i need to move to the next rank

Annie bought 149 5-oz bags of peanuts.
What's the total weight of the peanuts in pounds? Round answer to the hundredths place.

PLEASE HELP!

Answers

Answer:

46.5625 lbs

Step-by-step explanation:

First of all, WHO IN THEIR RIGHT MIND NEEDS THAT MANY PEANUTS

Second:

1lb=16oz

5oz≈1/3lb

149×5=745 ((I have no idea where this is going))

745oz=46.5625 ((You can do the rounding my head hurts.))

It is the vector physical quantity that measures the intensity of the interaction between two or more objects.​

Answers

The vectorial physical quantity that measures the intensity of the interaction between two or more objects is called force.

¿What is force?

The force is a vector quantity, it is completely defined with:

A numeric valueOne directionA senseA unit

In physics, it is established that physics is any factor capable of generating a deformation or change of state, in the movement, of a body. From Newton's second law, a force can be calculated as:

F = m a

Where:

F = forceM = mass A = acceleration

Force is the vector quantity with which we can express, for example, the intensity of interaction between two or more bodies.

¡Hope this helped!

Claire said 4/3 /5/2 is 10/3. She reasoned 4/3 *5 = 20/3 and 20/3 / 2= 10/3

Answers

Clare's answer and reasoning are incorrect because she performed the multiplication operation (4/3) × 5 = 20/3 before the division operation and the correct quotient is 8/15, not 10/3.

To perform the division operation (4/3) ÷ (5/2), we need to first divide the numerator by the denominator.

This gives us (4/3) ÷ (5/2) = 8/15.

Thus, Clare's reasoning is incorrect because she did not apply the order of operations when simplifying the expression.

Instead, she performed the multiplication operation (4/3) × 5 = 20/3 before the division operation (20/3) ÷ 2 = 10/3.

Therefore, the correct quotient is 8/15, not 10/3.

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A pizza with 3 toppings costs $12.45. A pizza with 7
toppings costs $17.05. What is the equation that
determines the cost of a pizza (c) based on the number
of toppings (t)?

Answers

Answer: it costs $4.15 for a pizza with 1 topping. Is that what you meant?

Step-by-step explanation:

NO LINKS!! Help me with the 2-Column Proof Part 6aa​

Answers

Shown in picture, hope it helps

Here is the two column proof:

     Statement                                        Reason                                              

Diagram                                       Given∠1 and ∠2 are linear pair            Shown on the diagram∠1 and ∠2 are supplementary    Linear pair postulate        

Proved                    

Paul and Chris work at a car shop. It takes Paul 30 minutes to change the tire, and
it takes Chris 30 minutes to change the tires. If they work at their own rates,
approximately how long would it take them to change the tires of one car.
a. 35 min
b. 10 min
c. 20 min
d. 15 min.

Answers

It will them 15 minutes to change the tire of one car which is option d.

What is inverse proportion?

Two quantities are said to be in inverse proportion if an increase in one leads to a decrease in the other quantity and a decrease in one leads to an increase in the other quantity". In other words, if the product of both the quantities, irrespective of a change in their values, is equal to a constant value, then they are said to be in inverse proportion.

It takes 30 minutes either Paul or Chris to change the tire if both of them should work at the same rate, then the time of changing a tire would reduce.

so the time taken one tire by the two men 30/2 = 15 minutes.

In conclusion it took the 2 men 15 minutes to change one tire

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5 to the power of 2 plus 0.7 to the power of 2

Answers

Answer: 25.49

Because the internet has a good calculator

Find the exact value of cos ( 285 ∘ ) .

Answers

Answer:

[tex]\frac{\sqrt{6}-\sqrt{2} }{4}[/tex]

Step-by-step explanation:

You have to use your calculator if you have one.

Triangle A and Triangle B are right triangles.

Triangle A has a height of 8 meters and a base of 6 meters.

Triangle B has a height that is one unit greater than triangle A and a base that is one unit less.

Part A
What is the measure of the hypotenuse of triangle A? Show your work.


Part B
Determine if the hypotenuse of triangle B has the same hypotenuse as triangle A. Justify your solution.

Answers

Answer: Triangle A- 24 8x6=48/2=24
Triangle B- 9x5=45/2=22.5

What is the solution to the system of two equations shown?


{y=4x+16y=−2x−2

y=4x+16 y=-2x-2

Answers

The solution of the given system of equation is x = -3 and y = 4 respectively.      

What is a system of linear equations?

A system of linear equations can be defined as a number of equations needed to solve the equations. For n number of variables n number of equations are required.

The given system of equations is as,

y = 4x + 16                   (1)

y = −2x − 2                  (2)

In order to solve them, substitute equation (2) into (1) as follows,

4x + 16 = −2x − 2

=> 4x + 2x = -2 - 16

=> 6x = -18

=> x  = -3

Then, y = -2 × -3 - 2 = 4

Hence, the solution of the given system of equation is x = -3 and y = 4.  

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Four distributions, labeled (a), (b), (c), and (d) are represented below by their histograms. Each distribution is made of measurements. Without performing any calculations, order their respective means , , , and .

Answers

The ranking of the data-sets according to their respective means is given as follows:

[tex]\mu_C < \mu_D < \mu_B < \mu_A[/tex]

How to calculate the mean of a data-set?

The mean of a data-set is calculated as the sum of the values of all the observations divided by the number of observations.

In this problem, all the distributions have the same number of observations, hence the means are ranked from the highest sum.

The squares give the number of times that each observation appears in the data-sets.

The smallest mean is the mean of data-set C, as it is the only one with three measures of eight, while the other data-sets have four measures of eight.

Then the greatest mean is of data-set A, as it is the only with an observation of 6, and then data-set B has a greater mean than data-set D, as it has an observation of five while data-set D has an observation of three.

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Solve for x



4 - (2x + 4) =



Please explain step by step on how I could get this answer!

Answers

Answer:

4

Step-by-step explanation:

2x4=8   8-4=4

which expression is equivalent to (3/2)^-4

Answers

Answer:18/61 0r decimal form 0.20

Step-by-step explanation:

select all the expressions that are equal to the product of 14 and 9

Answers

Answer:

Step-by-step explanation:

126

Determinați cel mai mare divizor comun al următoarele numere : 24,60,72,84

Answers

Answer:

12

Step-by-step explanation:

24 = 2³ × 3

60 = 2² × 3 × 5

72 = 2³ × 3²

84 = 2² × 3 × 7

cel mai mare divizor comun = 2² × 3 = 12

What are all of the real solutions of f(x)=0

Answers

The real solutions when f(x)=0 are the y-intercepts, so they’re 5 and 7

The height of the cylinder is 25 inches and the radius of its base is 5 inches. What is the surface area of this cylinder, in terms of n (pie) PLS LOOK AT THE PHOTO AND HELP ME OUR, I’M GETTING TIMED

Answers

ok you need formula for surface area.

SA = πrh+2πr^2

Plug in 25 and 5

SA = 2π(5)(25)+2π(5)^2

SA = 10pi*25 + 2pi(25)

SA = 250pi + 50pi

SA = 300pi

Hope this helps :)

Jeron

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