You have just started a new job and plan to save $5,250 per year for 35 years until you retire. You will make your first deposit in one year. How much will you have when you retire if you earn an annual interest rate of 9.47 percent

Answers

Answer 1

Answer:

FV= $1,260,205.98

Explanation:

Giving the following information:

Annual deposit= $5,250

Number of years= 35 years

Annual interest rate= 0.0947

To calculate the final value, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {5,250*[(1.0947^35)-1] / 0.0947

FV= $1,260,205.98


Related Questions

Write a short paragraph of two or three sentences describing the benefits of sending a cover letter along with your résumé.

Answers

Answer:

Explanation:

Most benefits of sending a cover letter along with your resume include recruiters. My and Your resume is factual, are cover letter is personal. It demonstrates your interest. Show you've done your research. Give them a taste of who you are. These are the benefits of sending in your cover letter along with your resume.

what is the difference between hire purchase and differed payment?​

Answers

Explanation:

In deferred payment, the borrower will agreed to pay certain amount of money on the promised date. ... In hire purchase, the purchaser will be getting the belongings without paying the full price of the item. The purchasers would make down payment and the balance is paid in installments.

Explanation:

Hire purchase is a system by which one pays for a thing in regular installments while having the use of it but deferred payments are payments that are completely or partially postponed for financial reasons

12. Paid Office Station Co. for part of the debt incurred on April 5, $1,200. 12. Provided services on account, $4,200.​

Answers

1. Paid Office Station Co. for part of the debt incurred on April 5, $1,200.

Debit: Accounts Payable - Office Station Co.$1,200

Credit: Cash $1,200

2. Provided services on account, $4,200.

Debit: Accounts Receivable $4,200

Credit: Service Revenue  $4,200

To pay off the remaining balance owing to Office Station Co., a debit is sent to the accounts payable account. To account for the cash outflow, the Cash account is credited. This journal entry records the settlement of a portion of the debt incurred on April 5 with Office Station Co.

The acknowledgment of revenue for services rendered to a client on the account is represented by this journal entry. To reflect the increase in the amount due by the client, the Accounts Receivable account is debited.

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The complete question is probably

Write journal entries

12. Paid Office Station Co. for part of the debt incurred on April 5, $1,200. 12. Provided services on account, $4,200.​

Hi I need help with this question. I don't know what I'm doing so I hope you can explain how to solve it. Thank you in advance. ​

Hi I need help with this question. I don't know what I'm doing so I hope you can explain how to solve

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Invest into 3D printing organs you will become a million trust me

"Group decision making is better". Do you agree or disagree with the statement? Give 3 reasons why do you say so?​

Answers

Answer:

I agree because it make the group bring out more ideals

sometimes group decision make some people to voice out their problems

group decision help organization and firms to operate in good aims

at at each vs the project risk analysis and management program should produce

Answers

At each phase, the project risk analysis and management program should produce  Deliverables.

Option C is correct.

In project management, what exactly is project risk analysis?

Risk analysis looks at how the impact of a risk event might change the project's outcomes and goals. After risks are identified, they are examined to determine their qualitative and quantitative impact on the project, enabling appropriate mitigation measures to be taken.

Risk analysis looks at how the impact of a risk event might change the project's outcomes and goals. After risks are identified, they are examined to determine their qualitative and quantitative impact on the project, enabling appropriate mitigation measures to be taken.

Incomplete question :

At each phase, the project risk analysis and management program should produce:

A) Alternatives.

B) A budget.

C) Deliverables.

D) Meetings.

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Division X makes a part with the following characteristics:
Production capacity in units 33,500
Selling price to outside customers $23
Variable cost per unit $17
Fixed cost, total $100,400
Division Y, another division of the same company would like to purchase 14,300 units of the part each period from Division X. Division Y is now purchasing these parts from an outside supplier at a price of $19 each.
Suppose Division X has ample idle capacity to handle all of Division Y's needs without any increase in fixed costs and without cutting into sales to outside customers. If Division X refuses to accept the $19 price internally and Division Y continues to buy from the outside supplier, the company as a whole will be:_________.
a. worse off by $85,800 each period.
b. better off by $57,200 each period.
c. worse off by $28,600 each period.
d. worse off by $114,400 each period.

Answers

Answer:

If Division X refuses to accept the $19 price internally and Division Y continues to buy from the outside supplier, the company as a whole will be:_________.

c. worse off by $28,600 each period.

Explanation:

The $28,600 loss the company incurs is from the lost contribution that Division Y's purchase of Division X's parts could have brought to the company if it buys parts inhouse.  This is calculated as follows:

Division X's variable cost per unit = $17

Division X's selling price to outside customers = $23

Division Y's offered buying price = $19

The contribution = $2 ($19 - $17)

Check for $10 incorrectly charged by bank as $100.

Is this an addition or reduction on the bank or company side of a bank reconciliation

Answers

Answer:

On the bank reconciliation sheet this would be a reduction because on the customers side it was a debit, which turns into a credit once given back and the bank must perform a reduction to account for the error on the statement sheet

Answer:

Addition

Explanation:

They took too much money out 90$

Under the consumer Credit Protection Act, if you report your credit card
lost or stolen within 30 days, your liability is limited to:
A. $25
B. $50
C. $100
D. $200

Answers

b. 50$


hope this helps:) have a good day

If the order is accepted, by how much will monthly profits increase or decrease? (The order would not change the company’s total fixed costs.) Show and label all computations using words and numbers to explain the steps please (final answer should be incremental profits)

If the order is accepted, by how much will monthly profits increase or decrease? (The order would not

Answers

If the Superior Company accepts the special order, monthly profits will increase by $2,500.

By how much will monthly profits increase or decrease if order is accepted?

To determine the impact on monthly profits, we need to calculate the contribution margin per unit on the special order.

Contribution margin per unit = Selling price per unit - Variable costs per unit

= $15 - ($2.50 + $3.00 + $0.50 + $1.50)

= $7.50

The contribution margin ratio is 50% ($7.50 / $15).

The fixed costs are $4.25 + $2.00 = $6.25 per unit.

If the company accepts the special order, it will produce and sell an additional 2,000 units.

Total contribution margin from the special order:

= 2,000 units x $7.50 per unit

= $15,000

Since the order would not affect regular sales, the company's total fixed costs will remain the same. Therefore, the increase in monthly profits would be:

Increase in monthly profits = Total contribution margin from the special order - Incremental fixed costs

= $15,000 - ($6.25 x 2,000)

= $2,500.

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when management's primary objective is the economic interests of shareholders, this is known as : A.philanthropy B.responsibility C. the strategic approach D.the pluralistic.​

Answers

C the strategic approach

Do you think the psychologist/consultant is involved in any unethical or illegal behaviors? If you cannot decide, what additional information would you like to know in order to assess the situation? If you were the psychologist and found out what the company did to the video, what would you do?

Answers

Answer:

ok look what i think is all people have something that they need to do but if it has to be under the table then yea but what video are you talking about  

Explanation:

Question 1 (1 point)
Which examples are of financial goals? (Select three answers.)
Lanelle wants to become her school's class president.
Martina wants a part-time job that will earn enough money for the maintenance
on her car.
Caleb wants to get good enough at playing the piano to win the talent show
competition.
Dante wants to save up for a new stereo.
Tyrell wants his photos to be displayed at an art gallery.
Chelsea wants to be able to afford her own apartment.

Answers

The three examples that are of financial goals include the following:

B. Martina wants a part-time job that will earn enough money for the maintenance on her car.

D. Dante wants to save up for a new stereo.

F. Chelsea wants to be able to afford her own apartment.

What is a goal?

In Business management, a goal can be defined as an outcome statement and strategic objectives that defines what an individual or a group of people (team members) hope to successfully achieve (accomplish) in the future i.e over a specific period of time.

This ultimately implies that, a goal is simply a futuristic idea, an objective, or desired result that an individual envision, plan, and commit to achieve over a specific period of time.

In this context, we can reasonably infer and logically deduce that a financial goal is mainly or primarily tied to money, especially earnings and savings.

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1.Explain where the market equilibrium occurs.
2.How do we show equilibrium graphically?
3.Share an example from your own experience when the market was not in equilibrium for a product or service.
4.Explain why the market was out of equilibrium (what caused it to be out of equilibrium) and what needed to be done to bring the market back to equilibrium.

Answers

Answer:

because they are well known

Retail chains try to design their store environments and layouts so as to make shopping as enjoyable and easy as possible and thereby encourage consumers to linger and make purchases. This most relates to

Answers

When Retail chains designed their store environments and layouts to make shopping enjoyable and easy, its  most relates to physical environment.

Retails chains refers to chain of stores that sell similar items and under the control of the head office.

A very good example of Retails chains includes Wal-Mart, Target etc.

Usually, retails chains (like Wal-Mart, Target) designed their store environments to make shopping very enjoyable and easy for the customers.

Therefore, the operation most relates to physical environment.

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The following information has been taken from the ledger accounts of Skysong Corporation. Total income since incorporation $289,000 Total cash dividends paid 57,000 Total value of stock dividends distributed 33,000 Gains on treasury stock transactions 18,000 Unamortized discount on bonds payable 32,000 Determine the current balance of retained earnings.

Answers

Answer:

$199,000

Explanation:

Total Dividend Distributed = Cash Dividend + Stock Dividend

Total Dividend Distributed = $57,000 + $33,000

Total Dividend Distributed = $90,000

Retained Earnings = Total Income since Incorporation - Total Dividend Distributed

Retained Earnings = $289,000 - $90,000

Retained Earnings = $199,000

What business name could I use if I am selling masks? Ideas?

Answers

Answer:

Jordans Mask shop

Explanation:

Mask on
...... .....

Why is the equality of marginal revenue and marginal cost essential for profit maximization in all market structures

Answers

Answer:

               

Explanation:

Ashley wants to increase the profits of her e-business. She recognizes that most online searchers click on links on the first search page, so she optimizes her website structure so that it ranks higher on a search. What strategy does this illustrate

Answers

Answer:

The strategy is Search Engine Optimization (SEO), an important strategy in digital marketing.

Explanation:

Search Engine Optimization (SEO) means optimizing the website structure, improve on keywords strategy and visual effects to increase the website's visibility, its ranking on search engine like google, bing, yahoo search .etc... and subsequently, push up the traffic volume to the website.

How many pounds of RCRA hazardous waste can a CESQG/VSQG generator per month

Answers

The maximum amount of RCRA hazardous waste that a CESQG can generate per month is 220 pounds (100 kilograms) of non-acute hazardous waste, or one kilogram of acute hazardous waste.

How to explain the information

CESQG (conditionally exempt small quantity generator) and VSQG (very small quantity generator) are two different classifications of hazardous waste generators under the Resource Conservation and Recovery Act (RCRA) regulations in the United States.

The maximum amount of RCRA hazardous waste that a CESQG can generate per month is 220 pounds (100 kilograms) of non-acute hazardous waste, or one kilogram of acute hazardous waste.

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The political candidates keep talking to the citizens about the possibility of a recession what would most likely happen if a country experience a recession

Answers

The thing that would MOST likely happen in this case if a country experiences a recession is D.Businesses will suffer from decreased sales and profits, eventually leading to closure

What is recession ?

Recession, in economics,  can be described as the downward trend in the business cycle.

Itshouldbe nopted that this can be seen as the decline in production and employment,  whereby the incomes and spending of households to decline and as a result of thisthere would be hunger sa well as hardship in the country for this cause.

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missig part

What would MOST likely happen if a country experiences a recession?

A.

Feeling confident in the economy, people will begin to spend money more freely.

B.

Jobs will be more plentiful, and companies will be doing a lot of hiring.

C.

Families will start to purchase larger and more expensive homes.

D.

Businesses will suffer from decreased sales and profits, eventually leading to

John sold a pair of jeans for R575.00( Vat inclusive). If his mark-up percentage as a percentage of cost is 25%, what is the cost price of the product

Answers

C = R460.00

Let's start by using algebra to solve for the cost price of the jeans.

Let's call the cost price "C".

We know that John's mark-up percentage as a percentage of cost is 25%, which means that he sold the jeans for 125% of their cost price.

So, we can set up an equation:

125% of C = R575.00

Now we need to convert 125% to a decimal by dividing by 100:

1.25C = R575.00

Finally, we can solve for C by dividing both sides by 1.25:

C = R460.00

Therefore, the cost price of the jeans was R460.00.

Which of these choices are add-on options for insurance policies? Select the two correct answers. (1 point)
O jewelry rider
O liability for auto insurance
Ocollision insurance
O fire for home
Olife insurance

Answers

The choices that are add ons for insurance policies are:

liability for auto insurance jewelry rider

What is meant by insurance policy?

The insurance firm (the insurer) and the person(s), company, or other entity being covered have a legal agreement called an insurance policy (the insured). By reading your policy, you can make sure that it addresses your needs and that both you and the insurance provider are aware of your obligations in the event of a loss.

By paying a small additional premium amount, policyholders can obtain the add-on covers, which provide greater insurance coverage. The policy coverage extension makes it easier for the automobile owner to handle a variety of problems. Roadside assistance, key replacement, return to invoice, and other services are some of the add-on covers.

A contract between you and the insurance provider known as auto insurance safeguards you from financial loss in the event of an accident or theft.

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In the IRA form of a simple retirement account, employer's can contribute as much as they want into the employee's simple retirement account, even though the employee's contribution is limited to $13,500.

True or False and why. Links verifying this would be appreciated.

Answers

Answer:

true and i took the test (:

Explanation:

2. You now have Birr 2,000,000 in the bank earning interest of .5 percent per month. You need Birr 3,000,000 to make a down payment on a house. You can save an additional Birr 10,000 per month. How long will it take me to accumulate the Birr 3,000,000?

Answers

The number of months that it would take me to accumulate the Birr 3,000,000 is 50 months.

How many months would it take to accumulate 3,000,000?

The equation that represents the total amount saved :

Total amount =amount invested +  total interest earned + total amount earned

Total interest earned = amount invested x time x interest rate

2,000,000 x 0.005 x m = 10,000m

Total amount earned = savings per month x total number of months

10,000m

3,000,000 = 2,000,000 +  10,000m + 10,000m

3,000,000 - 2,000,000 = 20,000m

1,000,000 = 20,000m

m = 50 months

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Private property Multiple Choice does not apply to patents and copyrights. encourages investment since people know what they own can't just be taken away from them. does everything indicated in the other choices. discourages exchange since people must get government approval before selling their property.

Answers

Answer:

encourages investment since people know what they own can't just be taken away from them.

Explanation:

Private property can be described as property that is owned by an individual or group of individuals rather than by the government.

Examples of private property

real estate objects - jewellery, cars, clothespatents copyright

Advantages of private property

it gives man the incentive to work and encourages investment so as to amass properties

Why would you want to limit your borrowing when making economic decisions ?

Answers

Answer:

so they can end up spending less on interest payments and credit card fees.

Explanation:

2. Should the U.S. government support U.S. tobacco company interest abroad if they are using harmful tactics

Answers

When a tactics is harmful causing various harms to human health or posing threat it should not be supported.

What are Harmful tactics?

They are some actions that are taken a particular time to achieve a particular goal and objective which is short time.

This actions are harmful and the results are usually detrimental.

Therefore, U.S. government should not support U.S. tobacco company interest abroad if they are using harmful tactics.

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Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki’s records show the following for the month of January. Sales totaled 330 units.



Date Units Unit Cost Total Cost
Beginning Inventory January 1 300 $ 90 $ 27,000
Purchase January 15 400 100 40,000
Purchase January 24 300 120 36,000


Required:

Calculate the number and cost of goods available for sale.
Calculate the number of units in ending inventory.
Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted average cost methods.

Answers

1. The number and cost of goods available for sale are 1,000 units and $103,000, respectively.

2. The number of units in the ending inventory is 670 units.

3. The cost of ending inventory and the cost of goods sold using the following cost methods are:

                                      FIFO          LIFO         Weighted Average

Ending inventory       $73,000    $64,000            $69,010

Cost of goods sold   $30,000    $39,000           $33,990

What is the cost of goods sold?

The cost of goods sold can be determined as the difference between the cost of goods available for sale and the ending inventory after determining the cost of the ending inventory using different cost methods.

Some of the inventory costing techniques, based on assumptions of the physical inventory flows, include:

FIFO (First-in, First-out)LIFO (Last-in, First-out)Weighted AverageSpecific Identification.

Date            Activities                    Units   Unit Cost   Total Cost

January 1    Beginning Inventory  300         $90         $27,000

January 15  Purchase                    400          100           40,000

January 24 Purchase                    300          120           36,000

Total                                             1,000                       $103,000

Average cost per unit = $103 ($103,000/1,000)

Sales                                               330

Ending inventory                           670

FIFO:

Cost of Ending Inventory = $73,000 (300 x $120 + 370 x $100)

Cost of goods sold = $30,000 ($103,000 - $73,000)

LIFO:

Cost of Ending Inventory = $64,000 (300 x $90 + 370 x $100)

Cost of goods sold = $39,000 ($103,000 - $64,000)

Weighted Average Cost:

Cost of Ending Inventory = $69,010 ($103 x 670)

Cost of goods sold = $33,990 ($103 x 330)

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A company had a market price of $39.40 per share, earnings per share of $2.20, and dividends per share of $1.35. Its price-earnings ratio equals:

Answers

Answer:

Price earning ratio = $17.9

Explanation:

Price earning ratio = Market Price share / Earning Per Share

Price earning ratio = $39.40/$2.2

Price earning ratio = $17.9

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