Example 11: Ellen just turned 35 years old and she is planning for retirement by saving some money every year. She will save $10,000 in a year. She will be able to increase her savings by 5% per year. With this plan, if she earns 10% per year on her savings, how much will Ellen have saved at age 65?

Final value= $4,347,451.46

Explanation:

Giving the following information:

She will save $10,000 in a year. She will be able to increase her savings by 5% per year. With this plan, she earns 10% per year on her savings.

To calculate the final value, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit= 10,000

i= 0.10 + 0.05= 0.15

n= 65-35= 30

FV= {10,000*[(1.15^30)-1]}/ 0.15= $4,347,451.46

the correct answer is - no.

winnipeg, canada, is not further away from the equator than moscow, russia, in fact moscow is the city that is further away from the equator. moscow is on a latitude of 55.7558° north, while winnipeg is on a latitude of 49.8951° north, thus putting moscow by 5.8607° further away from the equator than winnipeg is.

answer; how many employees will be needed for jobs in the coming period;