All categories

2 years ago

To get the benefits of the power of compounding, you should begin saving for retirement while you are still ______. quizlet

1 answer:

3 0

To get the maximum benefits and the compounding effect ion the savings the savings are to be started as soon as possible to gain the highest savings benefit.

<h3>What is compound?</h3>

Compound is a way of calculating and increasing the savings, in compound method the interest rate is applied on the complete amount available at a certain time in the account, as compared to normal interest which is applied to only principal amount.

The interest or the benefit earned in a compound is greater as compared to a normal interest. In compounding the benefit is that the interest earned in the past years also earn interest and so there is a great benefit when the savings are matured for a good time.

Therefore it is highly recommended that the savings must be started while you are still young, so that the future benefits can be greater.

Learn more about Compound at brainly.com/question/27285456

#SPJ1

You might be interested in

Using the information below for Singing Dolls, Inc., determine cost of goods manufactured for the year: Work in Process, January

slega [8]

Answer:

cost of goods manufactured= $64,700

Explanation:

Giving the following information:

Work in Process, January 1 $ 53,600

Work in Process, December 31 38,800

Total Factory overhead 7,300

Direct materials used 14,300

Direct labor used 28,300

<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 53,600 + 14,300 + 7,300 + 28,300 - 38,800

cost of goods manufactured= $64,700

7 0

3 years ago

In a given year, Jennifer earns $50,000 and spends $40,000. During the same period, Stcve earns $30,000 and spends $27,000. If J

elena55 [62]

Answer:

The sales tax is regressive with respect to income

Explanation:

sales tax by Jennifer = 0.1*30000

= 3000

tax/income = 3000/50000

= 6%

sales tax by steve = 0.1*27000

= 2700

tax/income = 2700/30000

= 9%

The tax increases with decrease in income, it indeed is regressive on the whole.

Therefore, The sales tax is regressive with respect to income

6 0

3 years ago

A mixed economy is one in which: a. decisions are based primarily on religion or custom. b. resources are both publicly and pr

SCORPION-xisa [38]

Answer:

d. all resources are privately owned and prices are used to coordinate economic activity.

Explanation:

A mixed economy is a system of the economy that is based on the aspects of the capitalism and the socialism and is the style that protect the private ownership and allows for the levels of the economic freedom.

In the case of the capital and also allows for the government intervene in the matter of the economy and in order to obtain social aims.

3 0

3 years ago

A premium bond that pays $60 in interest annually matures in seven years. The bond was originally issued three years ago at par.

Art [367]

Answer:

D.The yield-to-maturity is less than the coupon rate.

Explanation:

Whenever the yield to maturity is less than the bond's coupon rate, bond market value is greater than par value ( premium bond), these applies just as the question states that the premium bond pays $60 in interest annually in seven years and the bond was issued originally 3 years ago at par

in other cases when a bond's coupon rate is less than its yield to maturity, then the bond is selling at a discount and when a bond's coupon rate is equal to its yield to maturity. the bond is selling at par.

4 0

3 years ago

Theo chocolate is ready to take their products abroad. Deborah, Theo chief marketing officer, has decided that the company needs

gayaneshka [121]

Answer: B) export strategy

Explanation:

3 0

3 years ago