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seraphim [82]
3 years ago
12

You are planning to make monthly deposits of $458 into a retirement account that pays 6.3 percent interest compounded monthly. I

f your first deposit will be made one month from now, how large will your retirement account be in 31 years
Business
1 answer:
Jobisdone [24]3 years ago
4 0

Answer:

$521,444

Explanation:

PMT (Monthly deposit) = $458

i/r = 6.3% / year = 0.525% / month (Since the interest is compounded monthly, the interest should be calculated in monthly)

n = 31 years = 372 months. Since the first deposit will be made one month from now, n = 371 should be input into financial calculator.

PV (Present Value) = 0

FV = $521,444

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Sladkaya [172]

Answer:

The correct answer is D

Explanation:

Lifestyle is stated or expressed in both leisure and work behavior patterns and in the values, activities, opinions, attitudes, interest and allocation of income. It also states the self image of the person.

In other words, it is the way of life created through individual, society, group or culture. It comprise of patterns of interest, work, consumption and interaction that define how the person spends their time.

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3 years ago
A proposed new investment has projected sales of $585,000. Variable costs are 44 percent of sales, and fixed costs are $187,000;
Tema [17]

Answer:

The projected Net Income is $70,784

Explanation:

The Pro- forma income Statement

Working Note:

Variable cost = Sales × 44%

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3 years ago
A receipt showing that an investor has made an interest-bearing loan to a bank is a.
Zigmanuir [339]

Certificates of Deposit are documentation indicating an investor has given a bank an interest-bearing loan. The money market instrument known as a "certificate of deposit" is one that banks and other similar financial organisations issue to raise capital on the secondary market.

A certificate of deposit is documentation indicating an investor has lent money to a bank, the government, a corporation, or another bond issuer at interest. A certificate of deposit is documentation indicating an investor has lent money to a bank, the government, a corporation, or another bond issuer at interest.

A savings account known as a certificate of deposit (CD) holds a fixed sum of money for a predetermined length of time, such as six months, a year, or five years. One of the most crucial factors is the certificate of deposit's maturity period.

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