Kent earns 4521.94 in salary per month. just after receiving a paycheck, he is offered an early retirement package that includes a lump sum of the current value of 50% of the amount of each of his remaining paychecks. he has 7 years until he can take full retirement. the interest rate is (12) = .0696. calculate the proposed lump sum payment.

$247,495.08 rounded to the nearest hundredth

Step-by-step explanation:

In month 0 Kent would be receiving his current salary

4521.95

The interest rate is 6.96% annually, this is 0.58% monthly

In month 1 after his early retirement, he should be receiving

4521.95 + 4521.95*1.0058 = 4521.95(1+1.0058)

In month 2

and so on.

After 7 years (84 months), he should be getting  

The sequence

is a geometric sequence with common ratio 1.0696

The sum of its first 84 terms is

so, he should be getting

4521.95*109.4638722=494,990.1567

Half this amount would be

$247,495.08 rounded to the nearest hundredth.

the central idea is that:

individuals should refuse to cooperate with institutions they believe unjust.

thoreau felt  that governments were more often agents of corruption than justice, even democracies, and that just because the majority feels a certain way does not make it just or correct in absolute terms. he uses the fact that slavery exists in our democracy to support this idea.

he goes on to say that, as a result, people should live true to their own internal laws regarding right and wrong, as a product of reflection and a moral life, rather than following every law that society imposes. 

step-by-step explanation: