document.write( "Question 1139406: This does not have anything to do with algebra but it is driving me nuts trying to figure out the solution. I even used a TVM calculator and still got it wrong. \r
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document.write( "You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $4400 per month. You have access to an account that pays an APR of 7.2% compounded monthly.\r
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document.write( "What size nest egg do you need to achieve the desired monthly yield? \n" );
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Algebra.Com's Answer #759923 by ikleyn(52909) You can put this solution on YOUR website! .\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "You make a BIG MISTAKE by stating and thinking that \"This does not have anything to do with algebra\".\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Actually (and on the contrary), the solution of this problem is ENTIRELY based on Algebra,\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "and all computer/calculator programs, codes and applications to solve such problems are ENTIRELY based on Algebra.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "See the lessons\r \n" ); document.write( "\n" ); document.write( " - Ordinary Annuity saving plans and geometric progressions\r \n" ); document.write( "\n" ); document.write( " - Annuity Due saving plans and geometric progressions\r \n" ); document.write( "\n" ); document.write( " - Solved problems on Ordinary Annuity saving plans \r \n" ); document.write( "\n" ); document.write( " - Withdrawing a certain amount of money periodically from a compounded saving account\r \n" ); document.write( "\n" ); document.write( " - Miscellaneous problems on retirement plans \r \n" ); document.write( "\n" ); document.write( "in this site.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |