Victor Vogel is 27 years old and currently earns $65,000 per year. He recently picked a winning number in the Wisconsin lottery. After income taxes he took home $1,000,000. Victor put the entire amount into an account earning 5% per year, compounded annually. He wants to quit his job, maintain his current lifestyle and withdraw enough at the beginning of each year to replace his salary. At this rate, how long will the winnings last? Got the explanation from classmates
N=??? I/Y=5 PV=1000000 PMT=-65000 FV=0
It will last 27 years.

  27 years

Step-by-step explanation:

The formula for the number of payments can be used:

  N = -log(1 +0.05(1 -1000000/65000))/log(1.05) +1 = 27.03

There will be a couple thousand dollars left after the 27th payment.

The winnings will last 27 years.

question

what is the value of the third quartile of the data set represented by this box plot? a. 19 b. 21 c. 26 d. 29

answer

c

answer set (b) 0.5, 3/4 80% is in order from least to greatest.  

step-by-step explanation:

in order to compare rational numbers to each other, it is much easier if they are in the same form.   typically, the best form in which to evaluate rational numbers is in decimals.   in order to convert a percent to a decimal, you would divide the given percentage by 100.   you can also accomplish the conversion by moving the decimal point over two places to the left.   for example, the decimal value of 80% is 80/100, or 0.8.   in order to convert a fraction to a decimal, you need to divide the numerator by the denominator.   for example, 3/4 is 0.75.   so, for choice (b) 0.5 3/4 (0.75), 80% (0.8) is the only choice in which the numbers are in order from least to greatest.