Joel plans to work for 40 years and then retire using a 25-year annuity. Joel also calculated that a monthly income of $3,500 will be needed during their retirement. What nest egg amount does Joel need to achieve the $3,500 desired monthly yield if the annuity earns an APR of
2.02% compounded monthly?

1 number

if we use a graphing calculator, there is only one such number that satisfies the conclusion of the mean value theorem, that is, a number such that

where the right-hand side is the average rate of change of f on the interval [0.5,0.75], which is the slope of the secant line.

in the attached graph, the black line is the secant line which has its slope as the average rate of change of f on [0.5,0.75], while the orange line is the only tangent line to the graph of f in the interval that satisfies the mvt conclusion.

the answer is b.

step-by-step explanation: