Suppose Mr. Pink is 28 years old right now and puts away $1,800 per quarter in an account that returns 6% interest. a.) How much will be in the account when he turns 68? b.)What is his total contribution to the account?

(a) When he turns 68 , the account will have = $1,179,415.39

(b) $ 288,000

Step-by-step explanation:

Formula: Future value of annuity =, where P+ periodic payment, r = rate of interest per period, n= number of periods.

As per given, we have

P= $1800

rate of interest = 6% = 0.06

(a) n= 68-28 = 40

Rate per period : r=  

Number of periods: n = 4x 40 =160

Now, Future value of amount when Mr. Pink turns 28 years =

Hence, when he turns 68 , the account will have = $1,179,415.39

(b) Total contribution = P × n

=1800 × 160

=$ 288,000

Hence, Total contribution =$ 288,000

answer: city needs 2.4 inches of rainfall more to match the record of 40 inches.

step-by-step explanation:

since we have given that

total annual rainfall a city record = 40 inches

this year, total rainfall recorded = 37.6 inches

number of inches of rainfall   is needed to match the record of 40 inches is given by

hence, city needs 2.4 inches of rainfall more to match the record of 40 inches.