At age 25 you start to work and are offered two retirement options.
?
Retirement option 1: When you retire, you receive a lump sum of $25,000 for each year of service.
?
Retirement option 2: When you start to work, the company will deposit $10,000 into an account that pays a yearly compound interest rate of 13%.
?
A: Write a formula that gives your retirement payment , in dollars, if you retire after t years of service under retirement option 1.
?
B: Write a formula that gives your retirement payment , in dollars, if you retire after t years of service under retirement option 2.
?
C: Make a graph that shows the retirement payment for each option over the 40 years of service.
?
D: How many years of service will result in the same payment from either option? (You will work more than 1 year.) Round your answer to two decimal places if necessary.
?
What will be an ideal response?
B:
C:
?
D: 37.05 years
?
You might also like to view...
Graph the function.f(x) = 2(x - 1)
A.
B.
C.
D.
Write the function in the form y = f(u) and u = g(x). Then find dy/dx as a function of x.y = tan
A. y = tan u; u = ? - ;
=
sec
tan
B. y = tan u; u = ? - ;
= sec2
C. y = tan u; u = ? - ;
= sec2
D. y = tan u; u = ? - ;
=
sec2
Find the horizontal asymptote, if any, of the rational function.f(x) =
A. y = 0 B. y = 5 C. y = 9 D. None
Graph the polar equation.r = csc ? - 2, 0 < ? < ?
A.
B.
C.
D.