The average age of engineering students at graduation is a little over 23 years. This means that the working career of most engineers is almost exactly 500 months. How much would an engineer need to save each month to accrue $5 million by the end of her working career? Assume a 9% interest rate, compounded monthly.

$916

Explanation:

To solve this, we use the formula

FV = P/i * [(1+i)^n - 1], where

FV = future value of the all the money invested, $5 million

n = time span, = 500 months

P = payment per month

I = interest rate, 9% by 12 months, = 0.0075

Considering that we have been given all in our question, then we substitute directly and solve. So we have,

5000000 = P/0.0075 * [(1+0.0075)^500 -1]

5000000 * 0.0075 = P * [1.0075^500 - 1]

37500 = P * [41.93 - 1]

37500 = P * 40.93

P = 37500/40.93

P = $916.20

Therefore, the engineer needs to save $916 in a month which is the accrued

answer:

explanation:

assault rifle is a rapid-fire, magazine-fed rifle designed for military use. it is a shoulder-fired weapon that allows the shooter to select between semi-automatic (requiring you pull the trigger for each shot), fully automatic (hold the trigger and the gun continuously fires) or three-shot-burst modes.

answer:

a

explanation: