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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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A dollar in hand today is worth_______(less than/more than/equivalent) a dollar to be received in the future because if you had
Free_Kalibri [48]

Answer:

more than

earn interest

discount cash flow (DCF)

Explanation:

The concept of future value represents the amount that a lump sum or series of cash flows will achieve after a given period when compounded at an interest rate. This means that a dollar in hand today is worth more than a dollar to be received since it can be applied to earn interest.

The time value of money, which allows us to evaluate different investments, is also known as discount cash flow (DCF).

3 0
3 years ago
It’s the year 2150, and the human race has established a new country on Mars. After a dispute about water rationing, a war begin
Ksivusya [100]

Answer:

Executive order

Explanation:

Executive order - it is referred to order that can only be issued by the president of the United States to the executive body of the state.

it is Refer to official order directly issued by the president to prevent or allow doing something.  

As it is mentioned in the information in the given question, in 2150, when people are having a war for water on the new country of Mars, then president of America issued an executive order to notify every executive body not to sell any good and service to a new country of mars

8 0
3 years ago
An insurance company chartered in another country has been licensed to operate in your state. In your state the insurance compan
vladimir2022 [97]

When an insurance company chartered in another country has been licensed to operate in your state. In your state, the insurance company is called a foreign insurer.

<h3>What is insurance?</h3>

Insurance refers a policy or agreement which provides financial protection to any individual if he faced any injury or died in accident.In case of injury,it helps in receiving medical claim as per the policies of the insurance company.

A foreign insurer is a corporation based in one state that writes insurance for clients in those other states. In the world of health insurance, foreign insurers are fairly common.

The benfits of these policy is that it offers better benefits in  terms and protection to the policy holders as compared to own state.In this insurance the more options are received which is not available in own state.

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8 0
2 years ago
Mize Company provided $45,500 of services on account, and collected $38,000 from customers during the year. The company also inc
damaskus [11]

Answer:

D. All of these answer choices are correct

Explanation:

Use Accounting Equation

Events:                                   Assets  = Equity + Liabilities

Provided Services                +45,500  +45,500

Collection from customers  -38,000

                                             +38,000

Expenses on Account                           -37,000  +37,000

Payment against payable    <u>-32,400</u>    <u>             </u>   <u>-32,400</u>

Net Impact                              <u>13,100</u>       <u>8500</u>        <u>4600</u>

Hence, It is proved that Assets, equity and liabilities are increased.

7 0
3 years ago
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