Answer:
Amount needed to have in account = 99272
Explanation:
Below are the calculations:
Annual income after retirement, annuity = $8000
The time period or the retirement life = 30 years
The Interest rate earned by account = 7%
The amount in the account at the time of retirement = Annuity (P/A, r, n)
The amount in the account at the time of retirement = 8000 (P/A, 7%, 30)
The amount in the account at the time of retirement = 8000 x 12.409
The amount in the account at the time of retirement = 99272
Hi there!
<u>Information:</u>
<u>First, allow us to observe what an "economic factor is".</u>
- An economic factor is data taken out of market and economy.
- Economic factor may include certain costs. And these costs well be in our answer.
<u>Problem-Solving / Answer</u>
<u>Now, we figure out what economic factors we can find.</u>
<u>Tax rates</u> - tax rates can include an Economic factor.
<u>Laws</u> - Laws are a known economic factor.
<u>Unemployment</u> - Big one, at this time due to COVID-19, unemployment rates are flying off the charts. This is an example of an economic factor.
Important Keywords;
- Data ; <u>Data can be information taken from a place, for example, you have taken data from a chart.</u>
<u>Learn more:</u>
<u>Push factors: brainly.com/question/13553564</u>
<u>Economic growth: brainly.com/question/13023127</u>
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Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.