IIT-JEE Exam

45º 15′′ 30′′ changes into degree

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IIT-JEE Other Question

A client is celebrating his 50th b-day and wants to start saving for his anticipated retirement at age 65. he wants to be able to withdraw $20,000 from his saving account on his 66th b-day and each year for 19 more years after that.

After extensive research, the client determines that he can invest his money in an account that offers 5% interest per year with quarterly compounding. he wants to make equal annual payments on each b-day into the account - the first payment on his 51st b-day and his last on his 65th b-day.

In addition, the clients employer will contribute $2000 to the account each year (beginning on the clients 51st b-day) as part of the companies profit-sharing plan (a total of 15 contributions.)

The amount the client must deposit personally into the account each year on his b-day to enable him to make the desired wds at the retirement is closest to:

A. 9375

B. 9459

C. 11400
63º 14′ 51′′ change into grade system