This is because <u>"all social institutions are interrelated."</u>
Social institutions are an arrangement of conduct and relationship designs that are thickly interlaced and continuing, and work over a whole society. They request and structure the conduct of people by methods for their regulating character. Without social institutions, current societies couldn't exist.
Answer:
The correct answer is option D,19.
Explanation:
In calculating the above,two steps are involved-calculation of future value of $10000 invested at 6% for three years and calculation of number of years it would take to draw down the future value to less than $1000 by withdrawing $1000 every year beginning from year 3.
Using financial calculator,FV=FV(rate,nper,,-pv)
Please note negative in pv and the two commas
Rate=6%,nper=3 years and pv=$10000
Besides, the number of years was calculated using nper formula,which is given as:nper(rate,-pmt,pv,,1)
Find all calculations in the attached while also paying attention to the formulas.
Answer:
a. How much will you have in your retirement account on the day you retire?
- future value of the annuity = annual payment x (FV annuity factor, 11%, 40 periods) = $5,000 x 581.826 = $2,909,130
b. If, instead of investing $5,000 per year, you wanted to make one lump-sum investment today for your retirement that will result in the same retirement saving, how much would that lump sum need to be?
- present value = future value / (1 + interest rate)ⁿ = $2,909,130 / 1.11⁴¹ = $40,320.04
c. If you hope to live for 28 years in retirement, how much can you withdraw every year in retirement (starting one year after retirement) so that you will just exhaust your savings with the 28th withdrawal (assume your savings will continue to earn 11.0% in retirement)?
- payment = present value / annuity factor (PV annuity factor, 11%, 28 years) = $2,909,130 / 8.60162 = $338,207.22
d. If, instead, you decide to withdraw $647,000 per year in retirement (again with the first withdrawal one year after retiring), how many years will it take until you exhaust your savings?
- We can first try to get an approximate answer. The annuity factor = $2,909,130 / $647,000 = 4.49633694. Now looking at an annuity table we can look at the closest amount for 11%. The answer is between 6 years (annuity factor 4.2305) and 7 years (annuity factor 4.7122). This means that in less than 7 years you will have no more money left.
e. Assuming the most you can afford to save is $ 1 comma 000$1,000 per year, but you want to retire with $1,000,000 in your investment account, how high of a return do you need to earn on your investments?
- Again we must use the future value to determine the annuity factor. Annuity factor = $1,000,000 / $1,000 = 1,000. Using an annuity calculator to determine the closest rate (for 40 periods) = 12.9515% ≈ 12.95%
Based on the price the three-month treasury bill was sold at, and the face value, the yield to maturity as an EAR would be -0.010223%.
<h3>What is the yield to maturity as an EAR?</h3>
First find the 3 month yield to maturity:
= Face value / Sale value
= 100 / 100.002556
= -0.002556%
Expressed as an EAR, this is:
= (1 - 0.002556/100.002556)⁴ - 1
= -0.010223%
The Annual yield to maturity would be:
= -0.002556% x 3 / 12 monts
= -0.010224%
Find out more on EAR at brainly.com/question/6623488.
Answer:
c. She should pay with a credit card.
Explanation:
Credit cards are basically loans that the banks give to the customer to use and pay back before the due date.
Now if Sean's mother does not know how much money she has, she must use the credit card because to be financially responsible and pay the type services their due amount.
Later she can check her account details and make payments to the bank as per requirement.