1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Softa [21]
1 year ago
9

a personal account earmarked as a retirement supplement contains $292,200. suppose $250,000 is used to establish an annuity that

earns 6%, compounded quarterly, and pays $6000 at the end of each quarter. how long will it be until the account balance is $0? (round your answer up to the nearest quarter.)
Business
1 answer:
Hoochie [10]1 year ago
3 0

Suppose $250,000 is used to establish an annuity that earns 6%, compounded quarterly, and pays $6000 at the end of each quarter. It will take about 120 quarters until the account balance reaches $0.

Amount invested (Present value) = $250000

Quarterly payment (At the end of each quarter) (P) = $4500

Interest Rate (Quarterly) (r) =  6% /4

= 1.5% = 0.015

A number of quarters (n) = ?

Future value at the end  = 0

Present value of Annuity formula:

Present value  = P × (1-(1+r))^{(-n)}  / r

250000 =  4500 × (1-((1+0.015))^{(-n)}  / 0.015

250000 =  300000 × (1-((1+0.015)}}^{(-n)}

250000 / 300000 = 1-(1+0.015)^{(-n)}

0.83333 = 1-(1.015)^{(-n)

n = 120

Hence is shall take 120 Quarters until the account balance is $0.

To learn more about account balance

brainly.com/question/28699225

#SPJ4

You might be interested in
During last month, your beginning inventory was $17,500, your purchases were $19,252, and your ending inventory was $15,757. Wha
kicyunya [14]

$20,995

Cost of goods sold:

17,500 Beginning inventory

+19,252 Plus purchased inventory

- $15,757 Minus ending inventory

=20,995 Cost of Goods Sold

7 0
3 years ago
A person who is skilled at performing calculations, has math skills for advanced analysis, and has organizational skills would b
ale4655 [162]

Someone with the skills mentioned above would be great as (A) a credit analyst.

A credit analyst is <u>a person working in finances whose main job is to assess the creditworthiness of companies, individuals, and securities. </u>

Credit analysts are usually employed by public or private financial institutions (both banking or non-banking).

3 0
3 years ago
Read 2 more answers
Assuming no fixed costs are avoidable in the short​ run, a perfectly competitive​ firm's short-run supply curve is A. the portio
Crazy boy [7]

Answer:

C. the portion of its marginal cost curve that lies above its average variable cost curve.

Explanation:

It follows the short-run supply curve of the firm is portion of its marginal cost curve which is above the average variable cost curve.

7 0
3 years ago
Describe where you are in life right now. What makes you most excited about where you are now? What questions do you have, and w
Komok [63]
You say: “I'm excited to see there's a lot of opportunity to use advanced computer skills in this position. Being able to build my skills and continue to develop in a growing company is important to me, and there seems to be long-term opportunities here.”
5 0
3 years ago
Read 2 more answers
Three Guys Burgers, Inc., has offered $18 million for all of the common stock in Two Guys Fries, Corp. The current market capita
son4ous [18]

Answer:

The minimum annual synergy that Three Guys feels it will gain from the acquisition is $ 178,500

Explanation:

Value of synergy gain from acquisition = 18 - 15.9 = 2.1 million

Annual synergy gain = 2.1 *.085 = .1785 million or $ 178,500

Annual synergy gain = $ 178,500

5 0
3 years ago
Other questions:
  • Cassandra was planning a new product launch. She knew that the art department was ready to work on the promotional pieces now, b
    14·1 answer
  • Sekelow Enterprises is a debt collection agency. It uses postcards to contact consumer debtors it is attempting to collect from
    13·1 answer
  • Which of the following subjects should you study uif your seeking a career in agriculture or natural resources select all that a
    5·1 answer
  • Select the correct version of each pair of the following sentences. Local markets have become saturated; therefore, companies no
    5·2 answers
  • International trade promotes economic growth when it allows any two countries to grow (in their combined production) beyond (abo
    5·1 answer
  • George Clausen (age 48) is employed by Kline Company and is paid a salary of $42,640. He has just decided to join the company’s
    5·1 answer
  • An organic farmer has identified three distinct groups that might be interested in his products: vegetarians, health-conscious i
    8·1 answer
  • Oliver's company is planning the launch of their hybrid cars. The company has included "never-before-seen" product benefits in t
    9·1 answer
  • I need serious help here
    5·2 answers
  • What is the total of tim’s liabilities if he has recorded $50,000 in assets and $40,000 equity on a balance sheet?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!