Determine the principal P that must be invested at rate r=9% compounded monthly so that $500,000 will be available for retirement in t=6 years.

See answer below

Step-by-step explanation:

Hi there,

Please recall the Compound Interest formula. Familiarize yourself with it, and how compounding works. Although hidden in the prompt, we are given the compounding constant, n, which is 12 in "compounded monthly" hence 12 times for the whole year.

Study well and persevere.

thanks,

d 25 pi/6

step-by-step explanation:

the diameter is 10 inches

the radius is 1/2 of the diameter or 5 inches

the area of the circle is

a = pi r^2

  = pi 5^2

  = 25 pi

the slice is 60 degrees of the entire circle.

60 degrees out of 360   60/360 = 1/6

the area of the slice is 1/6 of the circle

a slice = 1/6 a circle

a slice = 1/6 * 25 pi

investment b is an ordinary annuity with $3,909.64 in the account after one year.

step-by-step explanation: