Question

Mateo finds a 401k retirement account with a 6% rate of return compounded monthly. After retirement he wants to live off of the interest from the account.
Translate the following sentence into mathematics and use the resulting equation to find the balance Mateo
needs to have in his account.
6% of the balance is $150,000

Answer 1

Resposta:

1200

Explicação passo a passo: