You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $3500 per month. You have access to an account that pays an APR of 4.8% compounded monthly. This requires a nest egg of $610,823.48. What monthly deposits are required to achieve the desired monthly yield at retirement? (Round your answer to the nearest cent.)

answer: c, the green line

step-by-step explanation:

there is no black line, eliminate b.

simple interest implies periodic payments, but the red line shows no payments, eliminate d.

simple interest has equal payments. if paid say every day, the graph is about a straight line (actually a stairstep).

the yellow line is not straight, eliminate a.

check: the green line is straight, answer is c.

simple interest with positive interest rate gives a straight line sloping up to the right. green line:

g(t) = $100 + ($200-$100) ÷ (20 years) × (t years)

= $100 + (4%/year) × ($100)(t years)

incidentally, the yellow line curving upward represents continuously compounded interest

y = $100 × 2^(t years / (14 assuming the yellow line hits $200 at 14 years. 2^0 is 1, so y(0) = $100; 2^(14/14) is 2, so y(14) = $200.

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step-by-step explanation:

how much is coupon

step-by-step explanation: