You want to retire exactly 35 years from today with $2,100,000 in your retirement account. If you think you can earn an interest rate of 10.67 percent compounded monthly, how much must you deposit each month to fund your retirement

$464.98

Explanation:

For this question, we are going to use the annuity formula

Future value of an annuity:

= A [(1+r)^n-1) / r]

where

A = Annuity payment = unknown

r = rate per period

=10.67%/12

= 0.1067/12

= 0.00889

n = number of period:

= 35 × 12

= 420

Future value(FV) = $2,100,000

Future value = A [(1+r)^n-1) / r]

2100000 = A[(1+0.00889)^420 - 1)/0.00889

2100000 = A[1.00889)^420 - 1/0.00889

2100000 = A(41.15 - 1)/0.00889

2100000 = A(40.15)/0.00889

2,100,000 = A(4516.31)

A = 2,100,000/4516.31

A = $464.98

I must deposit $464.98 each month to fund the retirement

answer; i believe that the correct answer is (strain);

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.