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pochemuha
3 years ago
5

ou just won $80,000 on a scratch-off lottery ticket. You plan to save the money in a retirement account expected to return 9% pe

r year. If you intend to retire in 45 years, how much are these lottery winnings expected to be worth when you retire?
Business
1 answer:
KatRina [158]3 years ago
8 0

Answer: $3,866,182.89

Explanation:

The winnings in 45 years are the future value of the $80,000 that you just won based on the return rate of 9%.

Future Value = Present Value ( 1 + return) ^ number of years

= 80,000 ( 1 + 0.09) ⁴⁵

= $3,866,182.89

Lottery winnings will be worth $3,866,182.89 when you retire.

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Administrative trade policies are bureaucratic rules designed to make it difficult for imports to enter a country. These are rules and regulations made by the government to control the entry of particular products into the country.

<h3>What is Trade policy ?</h3>

Trade policy is the set of agreements, regulations, and practices by a government that affect trade with foreign countries. Each nation determines its own standards for trading, including its tariffs, subsidies, and regulations.

Trade policies have a significant effect on the international economy and on financial markets. They affect exchange rates, the availability of goods, and the prices that people pay for them, among many other economic factors.

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