How much must I deposit today if I want to be able to withdraw $620 per month for six years from an account which earns a nominal rate of three percent, compounded monthly, if withdrawals are made at the beginning of each month

S=48980 shall be deposit if he or she want to withdraw 620 per month for six years from an account.

Explanation:

n=number of periods=6*12=72 periods

i=compound interest rate=3%=3/12=.0025 compounded monthly

R=regular withdraws=$620

S=Sum of Future amount=?

Formula= S=R[(1+i)∧n+1-1/i]-R

                  =620[(1+.0025)∧72+1]-1/.0025]-620

                  =620( 1.0025∧73-1/.0025)-620

                  =620[(1.19994-1)/.0025]-620

                 =620(.19994/.0025)-620

                 =49600-620

                 =48980

explanation:

a gas is not used in hydraulic machines as the fluid because gas is easily compressible and so if a gas is used, the energy would mostly go into compressing a gas. therefore a liquid is used in hydraulic machines as the fluid.

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

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