A newscaster earns $26600 and wants to invest 10% of his/her monthly salary to save for retirement in 28 years. if he/she invests this money at 4.2% compounded monthly, how much money will he/she have at retirement? a) How much will be saved each year?
b) What will be the monthly deposit?
c) What will be the amount in the account after 28 years?

Results are below.

Explanation:

Giving the following information:

Annual salary= $26,600

Number of periods= 28*12= 336

Interest rate= 0.042/12= 0.0035

First, we need to calculate the annual savings:

Annual saving= 26,600*0.1= $2,660

Now, the monthly deposit:

Monthly deposit= 2,660/12= $221.67

Finally, the future value of the investment:

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

A= monthly deposit

FV= {221.67*[(1.0035^336) - 1]} / 0.0035

FV= $141,535.3

b. a single paragraph.

a paragraph is a series of sentences that are organized and make sense, and are all related to a single topic . almost every piece of writing you do that is longer than a few sentences should be organized into paragraphs. this is because paragraphs show a reader where the subdivisions of an essay begin and end, and thus the reader see the organization of the essay into subjects in order to be able to understand its main points.

answer; descriptive statistics;