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2 years ago

6

You want to have $1 million to use for retirement in 35 years. If you can earn 1% per month, how much do you need to deposit on

a monthly basis if the first payment is made in one month

1 answer:

Phoenix [80]2 years ago

6 0

Answer:

0.35

Explanation:

that's the answer thank you and stay safe and take care!!!

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Assume that you are saving up for a trip around the world when you graduate in two years. If you can earn 6% on your investments

AURORKA [14]

Answer:

$12,015 approx.

Explanation:

To calculate present value of a future amount, the future amount is discounted at the rate of interest for the period of investment, which reveals present value as on today. The technique is referred to as discounting technique.

Suppose P denote the amount invested today, which when matured after period of two years yields $13500. Following formula is used for calculating the money invested:

$A =\ P (1\ +\ \frac{R}{100}) ^{n}$

wherein, A = Amount

P = Principal

R = Rate of interest

n = number of years

$13500 =\ P (1\ +\ \frac{6}{100}) ^{2}$

13,500 = 1.1236 P

⇒ P = 12,015 Approx.

Thus, $12015 is required to be deposited today so as to yield $13,500 after 2 years compounded at 6% per annum rate of interest.

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4 years ago

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Managerial accountants could prepare all of the following reports except a.a sales report targeting monthly sales and potential

lisabon 2012 [21]

Answer: d.an annual report for external regulators such as the SEC

Explanation:

A managerial accountant is someone who records and analyzes the financial information for an organization. The data analysed will then be used to form financial decisions which can help the organization's growth.

Managerial accountants prepared ls financial information for internal reporting and not external reporting. Therefore, of the options given, the managerial accountants can prepare all the reports except the annual report for external regulators such as the SEC.

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3 years ago

Which budgeting method takes a bottom-up approach by defining specific objectives, determining the tasks needed to achieve these

KATRIN_1 [288]

Answer:

The bottom-up budgeting is a budgeting method where individual departments or business units prepare their own budgets and them send it upwards (to upper management) for approval or modifications.

The main advantage of this budgeting method is that the focus is set on each department's objectives instead of a predetermined amount set by upper management.

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4 years ago

The following data relates to units shipped and total shipping expense for the Adams Company. Month Units shipped Total Shipping

Ann [662]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Month - Units shipped - Total Shipping Expense

January: 3 - $1,300

February: 6 - $1,600

March: 4 - $1,400

April: 5 - $1,500

May: 7 - $1,700

June: 8 - $1,800

July: 2 - $1,200

First, we need to calculate the unitary variable cost using the following formula:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (1,800 - 1,200) / (8 - 2)

Variable cost per unit= 100

Now, we can calculate the fixed costs:

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 1,800 - (100*8)

Fixed costs= 1,000

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 1,200 - (100*2)

Fixed costs= $1,000

Finally, the total cost formula:

Total cost= 1,000 + 100X

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If data indicates the economy is in recession and members of Congress are working to pass legislation to encourage economic grow

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3 years ago

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