All categories

2 years ago

you have 300,000 saved for retirement. your account earns 6% interest. How much will you put out each month

Business

1 answer:

Marat540 [252]2 years ago

5 0

$2727

What is compound interest?

Compound interest, also known as interest on principal and interest, is the adding of interest to the principal amount of a loan or deposit. It occurs when interest is reinvested, or added to the loaned capital rather than paid out, or when the borrower is required to pay it, so that interest is generated the next period on the principal amount plus any accumulated interest. In finance and economics, compound interest is common.

In contrast to simple interest, which does not compound since past interest is not added to the principal for the current period, compound interest allows interest to build over time. The interest per period multiplied by the number of periods in a year yields the simple annual interest rate.

Learn more about compound interest with the help of given link:-

brainly.com/question/18456266

#SPJ4

You might be interested in

The North’s growing ______________________ supplied the troops with ______________________, ______________________, and other ne

kkurt [141]

pwriod ................nmintr2rr

Explanation:

3 0

3 years ago

Which of the following are NOT needed to calculate cost of goods sold

jenyasd209 [6]

Option c is correct.

5 0

3 years ago

The business structure you choose as a step for starting your new business affects the following?

pshichka [43]

Answer:

Define Yourself- Finding your Business Niche. Identify your interests and passions. Identify problems you can solve. Research your competition. ...

Test your idea.

Defining your Business – Branding. Identify your specific audience. Establish business processes.

mark me as a brainlist.

6 0

2 years ago

The Heartlake Corporation manufactures and sells toy gyroscopes. The following data is related to sales and production of the to

ryzh [129]

Answer:

The Question is Incomplete; Full Question is as follows;

Using variable costing, what is the contribution margin for last year?

Contribution Margin = $362,900

Explanation:

Computation of expenditure margin by differential costing;

Sales Minus variable cost

Sales (190,000 *$8.20)

= $1,558,000

Variable cost of Manufacturing(190,000 units *$1.84)

= $349,600

— variable sales and administrative costs(190,000 units *$4.45)

= $845,500

= contribution margin = $362,900

Keep in mind that; Set or Fixed expenses and overhead costs are not taken into account when trying to calculate the contribution margin.

7 0

3 years ago

Clampett, Incorporated, converted to an S corporation on January 1, 2020. At that time, Clampett, Incorporated, had cash ($40,00

lana [24]

Answer:

$2,100

Explanation:

Particulars Fair market value Basis Differences

Inventory $60,000 $30,000 $30,000

Account receivables $40,000 $40,000 $0

Equipment $60,000 $80,000 ($20,000)

Taxable gain $10,000

Tax rate 21%

Built in gains tax $2,100 

So therefore, the built-in-gains tax that Clampett (Incorporated) will pay in 2021 is $2,100.

3 0

3 years ago