You are age 25, and have now settled into you first job. You desire to retire at age 60, and know that you can invest $8,750 each year. You have decided to use this as your primary retirement vehicle. At the end of the year, you invest $8,750, and $8,750 per year thereafter until age 60, and realize the average return on the stock market of 11% per year. How much do you have at age 60?

$2,988,908.60

Step-by-step explanation:

Since the payments are made at the end of the year, it is an Ordinary Annuity.

The future value of an ordinary annuity with deposits P made regularly k times each year for n years, with interest compounded k times per year at an annual rate r, is given as:

In the given case,

The stock market's average return is 11% per year. Period, k=1, r=11%, Therefore:

Therefore, the Future Value at 60 years of age

At retirement, I would have $2,988,908.60

536

step-by-step explanation:

hello from mrbilldoesmath!

answer:

(7 x + 6 y) (49 x^2 - 42 x y + 36 y^2)

discussion:

the trick is to recognize that 343 = 7^3 and 216 = 6^3 and, in general,

a^3 + b^3 =   (a + b) (a^2 - a b + b^2).

in our case

343x^3+216y^3   =   (7x)^3 + (6y)^3

so take a = 7x and b = 6y in the above equation to get the answer.

you,

mrb