Respuesta :
[tex]\begin{equation*} \$437.76 \end{equation*}[/tex]
1) This is a question for Annuity usage. Note that we'll need the following formula below:
[tex]\begin{gathered} P=\frac{A(\frac{r}{n})}{\lbrack(1+\frac{r}{n})^{nt}-1\rbrack} \\ P=\frac{400000(\frac{0.04}{12})}{\lbrack(1+\frac{0.04}{12})^{12\cdot35}-1\rbrack} \\ P=\frac{400000\cdot\frac{0.04}{12}}{\left(1+\frac{0.04}{12}\right)^{35\cdot\:12}-1} \\ P=\frac{400000\cdot\frac{0.04}{12}}{1.0033^{420}-1} \\ P=437.76563...\approx\$437.76 \end{gathered}[/tex]Note that P is the value you'll need to deposit each month so that in 35 years you'll have $400,000 for your retirement.
