An account paying 4.6% interest compounded quarterly has a balance of $506,732.32. determine the amount that can be withdrawn quarterly from the account for 20 years, assuming ordinary annuity.

$4842295538

Step-by-step explanation:

Amount after 20 yrs

A = p(1 + r/n)^tn

A= 506,732.32(1+(0.46/60))^ (20*60)

A = 506,732.32(1+(7.667*10^-3))^ (1200)

A = 506,732.32(1.0076667)^(1200)

A = 506,732.32*9555.924

A = 4842295538

x ≥ 18 is your answer

step-by-step explanation:

let "a number" = x

(2/3)x + 17 ≥ 29

isolate the variable (x). do the opposite of pemdas (parenthesis, exponent (& root), multiplication, division, addition, subtraction).

first, subtract 17 from both sides.

(2/3)x + 17 (-17) ≥ 29 (-17)

(2/3)x ≥ 29 - 17

(2/3)x ≥ 12

next, multiply 3/2 to both sides to isolate the x

(3/2)(2/3)x ≥ 12(3/2)

x ≥ 12(3/2)

simplify. multiply, then divide

x ≥ (12 * 3)/2

x ≥ (36)/2

x ≥ 18

x ≥ 18 is your answer

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