8. loren already knows that he will have $500,000 when he retires. if he sets up a payout
annuity for 30 years in an account paying 10% interest, how much could the annuity provide
each month?

Annuity for 30 years per month =  $22846  

Step-by-step explanation:

The Principal  = $500,000

The interest rate at 10%

The time period =30 years

So,

Or,

Or, Amount = $8724701.134

So, Compound Interest = A - P

Or,  CI =  $8724701.134 - $500,000 = $8224701.13

∴ Annuity for 30 years per month = =    $22846  Answer

6 hours 48 min

step-by-step explanation:

68÷5=13.6

13.6×30=408min=6 hours 48 min.

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the terms of a geometric sequence can be found by beginning with the first term and multiplying by the common ratio repeatedly. a recursive formula for a geometric sequence with common ratio r is given by an=ran−1 a n = r a n − 1 for n≥2 n ≥ 2 .

step-by-step explanation: