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Mkey [24]
1 year ago
9

an accountant is 40 years old and has an anticipated retirement age of 70 years old. the accountant plans to save $6,000 per yea

r at the end of the next 30 years to fund retirement. how much will this accountant have upon retirement, if the accountant is able to earn 4% annually on this investment?
Business
1 answer:
liq [111]1 year ago
6 0

The accountant have upon retirement $336,509.63

What is the future value of an annuity?

The accumulated balance in the accountant's retirement account upon retirement is the future value of $6,000 invested for 3 years earning 4% annual rate of return using the future value formula of an ordinary annuity as shown  below:

FV=PMT*(1+t)^N-1/r

FV=accumulated balance after 30 years=unknown

PMT=annual investment=$6,000

r=rate of return=4%

N=number of annual investments in 30 years=30

FV=$6000*(1+4%)^30-1/4%

FV=$336,509.63

Find out more about future value on:brainly.com/question/20910838

#SPJ1

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On January 1, Year 1, the Accounts Receivable balance was $20,100 and the balance in the Allowance for Doubtful Accounts was $1,
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Answer:

$18,400

Explanation:

A/R                                                               $20,100

Less: Allowance for doubtful accounts         ($1,700)

net realizable value of A/R                             $18,400    

The write off amount is already included in allowance for doubtful accounts on provision basis therefore it can't be separately deducted again.                                                

4 0
3 years ago
When the demand for smartphones increased in Preteresia, a country in Eastern Europe, the smartphone manufacturers started impor
Elan Coil [88]

Based on the actions of Preteresia , we can infer that this scenario best describes <u>Global Convergence</u>.

<h3>What is Global Convergence?</h3>
  • It refers to the current trend of various dimensions of the human life being integrated across nations.
  • Describes the integration of dimensions such as business, culture, the economy, and political policy across nations.

Preteresia in helping Abresia build those facilities, is engaging in global convergence because the industries in both countries are being integrated to allow for more efficient smartphone manufacturing.

In conclusion, this is global convergence.

Find out more on the effects of global convergence at brainly.com/question/18077255.

7 0
2 years ago
When don was faced with the problem of fixing the faucet in his kitchen, he suddenly realized that he didn't have to hire a cost
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This example illustrates INSIGHT. A person is said to have an insight when a solution to a problem present itself to him or occur to him suddenly. Insight refers to the sudden discovery of a perfect solution after trying unsuccessfully to fix a problem.
3 0
4 years ago
Ben and Chris combined their love of football with a business venture. They purchased a small portable cart and began selling fo
wolverine [178]

Answer: Option C

Explanation: Environmental circumstances refers to the threats and opportunities that arise from political and economical unstability. These are highly fluctuating factors and can affect the business highly.

In the given case, the business of Ben and Chris slowed down due to the economic breakdown in the country. These factors are inescapable and affect all the businesses in the economy.

Thus, from the above we can conclude that the correct option is C.

4 0
3 years ago
Becky only eats out at Macaroni Grill and eats out three times per month. She receives a raise from $33,200 to $33,500 and decid
iragen [17]

Answer:

55.58

Explanation:

Data provided in the question;

Initial demand per month, Q₁ = 3

Final demand per month, Q₂ = 5

Initial price, P₁ = $33,200

Final price, P₂ = $33,500

Now,

elasticity of demand using midpoint method is calculated as :

= \frac{\textup{percent change in demand}}{\textup{percent change in supply}}

or

= \frac{\frac{Q_2-Q_1}{\frac{Q_1+Q_2}{2}}}{\frac{P_2-P_1}{\frac{P_1+P_2}{2}}}

on substituting the respective values, we get

= \frac{\frac{5-3}{\frac{5+3}{2}}}{\frac{33,500-33,200}{\frac{33,200+33,500}{2}}}

or

= \frac{\frac{2}{4}}{\frac{300}{\frac{66,700}{2}}}

or

= \frac{0.5}{\frac{300}{33,350}}

= 55.58

3 0
4 years ago
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