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
Arlecino [84]
3 years ago
15

Denise has her heart set on being a millionaire. What payment does Denise need to make at the end of each month over the coming

44 years at 6​% APR to reach her retirement goal of ​$1 ​million?
Business
1 answer:
ArbitrLikvidat [17]3 years ago
7 0

Answer:

$ 941 796

Explanation:

The present amount with compound interest is given by the following formula:

A = P (1+\frac{r}{n})^{nt}

where A = $ 1 000 000

t (years)  = 44

rate         = 6%

               = 0.06

The formula becomes:

1 000 000 = P (1 + (0.06/44) (44*1)

1 000 000 = P (1.0618)

              P = $ 941 796

so the amount needed to be deposited is $ 941 796

You might be interested in
owner withdrawals cause a(n) (increase/decrease) in owner's equity and are recorded directly in owner's (capital/withdrawal/equi
Alla [95]

Owner withdrawals cause a decrease in owner's equity and are recorded directly within the owner's withdrawal.

<h3>What is a withdrawal?</h3>

Withdrawals are variables in an economy that leak the circular flow of income and reduce the dimensions of national income. Withdrawals include savings, taxation, and imports.

To know more about withdrawal go to the given link:

brainly.com/question/2933232

#SPJ4

6 0
2 years ago
Stephen Thublin invests $1,000,000 in a 45-day certificate of deposit with 6.55% interest. What is the total interest income fro
givi [52]

Answer:

$8187

The CD has a rate of 6.55%. This rate is always annual. then, the interest paid for a year is $65.500. (360 days)

As the CD has a term of 45 days only the final interest paid is $8187

6 0
3 years ago
Lin is making a presentation about road safety and wants to add images of road signs.
Studentka2010 [4]

Answer:

I dont get what this is asking

Explanation:

This is not a question

3 0
3 years ago
JACK Mchen
Makovka662 [10]

Answer:

Setting short term goals now helps you reach long term goals later

6 0
3 years ago
What does research suggest about the relationship between goals and consciousness?
gayaneshka [121]

Answer:

Goals are the tools with which people engage in volitional behavior. Whereas goal pursuit was traditionally assumed to be strongly related to consciousness, recent research and theorizing suggest that goals guide behavior through attention, and this guidance can occur outside of a person's awareness

Explanation:

7 0
2 years ago
Other questions:
  • A manufacturing company prepays its insurance coverage for a three-year period. The premium for the three years is $2,700 and is
    10·1 answer
  • Which of the following is not a strength of sensitivity analysis?
    6·1 answer
  • 5. The International Property Right Index scores countries based on the legal and political environment and how well property ri
    6·1 answer
  • The amount of net income shown on a multi-step income statement will differ from the amount of net income shown on a single-step
    9·1 answer
  • Economic profits and lossesa. equalize the distribution of income in the long run. b. are essential to the reallocation of resou
    8·1 answer
  • Guys I need HELP!!!<br> What is investing?
    7·1 answer
  • During 20X1, Sloan, Inc., began a project to construct new corporate headquarters. Sloan purchased land with an existing buildin
    7·1 answer
  • When a manager uses _________ to increase motivation, the manager is seeking to change job characteristics, such as the skill in
    8·1 answer
  • I am 15 I’m I able to work at a haunted house or something like that?
    9·2 answers
  • when commercial farming proposals have promised more jobs in zambia, why have there been job losses at the farm taken over by ch
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!