Apersonal account earmarked as a retirement supplement contains $292,300. suppose $250,000 is used to establish an annuity that earns 8%, compounded quarterly, and pays $5500 at the end of each quarter. how long will it be until the account balance is $0? (round your answer up to the nearest quarter.)

n = 121

Step-by-step explanation:

Given,

Amount invested  = $250,000

Quarterly payment (P) = $5500

Interest Rate (Quarterly) (r) = 8% /4 = 2%

Account balance = $ 0

Present value of Annuity formula ,

Present value =

1.02⁻ⁿ = 0.091

-n ln(1.02) = ln (0.091)

n = 121

Hence it will take 121 Quarters to account balance $0.

the answer to the question is a

step-by-step explanation:

it has the same slope and the same y-intercept.

y + 11 = -7/9(x - 18)

y + 11 =-7/9x + 14

b

y = -7/9x + 3

y-intercept (0, 3)

correct answer is infinitely many solutions

step-by-step explanation:

2(2x + 3) = -4 + 2(2x + 5)

solving the above equation:

4x + 6 = -4 +4x +10

combining like terms

4x -4x = -4+10-6

0=0

since both sides are 0=0, we end up into true statement it means it has infinite many solutions.

so correct answer is infinitely many solutions