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3 years ago

How much will you have if you wait 10 years before beginning to save and only make 35 payments into your retirement account?

1 answer:

4 0

It all dependes on the money you make and how big the payments are. as you can say you waited tell the day you where going to retire but you but 10,000 dollars in your saving every hour by the end of the day youd have 240,000 dollars in your retirement account.

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You are the beneficiary of a life insurance policy. The insurance company informs you that you have two options for receiving th

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you should accept the payments because they are worth $56,451.91 today

Explanation:

We have to determinate the present value of the proposed annuity of $641 per month over a ten year spawn

Then, the value of the annuity:

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

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rate 0.005416667

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3 years ago

Identify five entrepreneurial qualities that have contributed to the success of his/her business .justify your answer

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The entrepreneurial qualities that helps any businessman to be successful in his or her business are as follows:

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4) True and fair means of practices should be followed.

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3 years ago

You can buy a car that is advertised for $24,600 on the following terms: (a) pay $24,600 and receive a $4,600 rebate from the ma

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Answer:

A. $20,000

B. $17,234.18

C.Option (b)

Explanation:

Obviously, the option with lower Present Value would be the best option to buy the car. The Present Value of the options can find out as following

REQUIREMENT A

Price of car = $24,600

Rebate = $4,600

Present value of the payments for option = Price of the car – rebate

Present value of the payments for option (a) = $24,600 - $4,600

Present value of the payments for option = $20,000

REQUIREMENT B

We can use the following Present Value of an Annuity formula to calculate the present value of the payments

PV of the payments for option = PMT * [1-(1+i) ^-n)]/i

PV of the payments for option (b) (PV) =?

Monthly payment PMT =$410 per month

Number of payments n = 5 years *12 months = 60

Monthly interest rate i=1.25% per month or 0.0125

PV of the payments for option = $410 x [1- (1+0.0125) ^-60]/0.0125

PV of the payments for option = $17,234.18

REQUIREMENT C.

Which is the better deal?

Option (b) is better deal as the present value of payments ($17,234.18) is less than Present value of the payments for option (a); $20,000.

3 0

3 years ago

How much will you have if you wait 10 years before beginning to save and only make 35 payments into your retirement​ account?

How much will you have if you wait 10 years before beginning to save and only make 35 payments into your retirement account?