You plan to save $5,900 per year for the next 12 years. After the last deposit, you will keep the money in the account for 4 more years. The account will earn an interest rate of 6.2 percent. How much will there be in the account 16 years from today? a. $153,983.95 b. $128.0970:2 c. $25,886.92 d. $263,653.32 e. $100,702.67

Explanation:

A constant annual investment of $5,900 for certain period is an annuity.

The equation for the future value (FV) of an annuity starting today, over t years, at an interest rate r is:

Substitute:

The $106,946.23 will be kept 4 more years at the same interest rate. The future value is calculated using the formula:

Substitute

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"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

answer; by looking at total product,marginal product,and changes in both after changes in inputs