Suppose that you want to have a 93,447 retirement fund after 41 years. How much will you need to deposit now if you can obtain an APR of 3%, compounded daily? Assume that no additional deposits are to be made to the account

In 34 years time retirement account will accumulate = $106,098.21

Explanation:

The value of an annuity investment at a certain rate of interest compounded for a definite period of time can be worked as follows:

Future Value = A × (1- (1+r)^(-34)

r - monthly interest rate = 9.5/12 = 0.79%

A - 875,

r = 0.79% ,

n = 34 × 12 = 408

FV = 875 × (1- (1.0079)^(-408))/0.0079

    = 875 ×121.2550968

   =    106,098.21

In 34 years time retirement account will accumulate = $106,098.21

Given:

The length of the rectangular prism is 2 cm.

The width of the prism is cm.

The height of the prism is 1 cm.

The side lengths of the cube is cm.

We need to determine the number of cubes with side lengths would fill the prism.

Volume of the cube:

The volume of the cube can be determined using the formula,

Substituting the value, we get;

Thus, the volume of the cube is

Volume of the rectangular prism:

Volume of the rectangular prism can be determined using the formula,

Substituting the values, we get;

Thus, the volume of the rectangular prism is 3.5 cm³

Number of cubes:

The number of cubes can be determined by dividing the volume of the prism by the volume of the cube.

Thus, we have;

Thus, the number of cubes that fill the prism are 224 cubes.