Rob Herndon, an accountant with Southwest Airlines, wants to retire 50% of Southwest Airlines bonds by 2038. Calculate the payment Rob needs to make at the end of each year at 6% compounded annually to reach his goal of paying off $300,000 in 20 years.

Annual deposit= $8,155.37

Explanation:

Giving the following information:

Calculate the payment Rob needs to make at the end of each year at 6% compounded annually to reach his goal of paying off $300,000 in 20 years.

To calculate the annual deposit, we need to use the following formula:

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

A= annual deposit

Isolating A:

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

A= (300,000*0.06) / [(1.06^20)-1]

A= $8,155.37

x=3

step-by-step explanation:

this is really simple i saw that there was only one term (5x) and thought if that was 15 what would i have to multiply everything else to get it there? well if 5x became 15 then x would have to be 3 so plug the 3 in the x for the other equations and you get 15 for the other ones. so there you go. : )

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