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olya-2409 [2.1K]
3 years ago
12

Quiz week 3 - 401(k) & investing a 6. if a person starts investing $100 per month starting at age 21, and that money earns a

7% return every year, how much will this person have when turning 70 years old? for ease of calculation, assume starting balance of $0 and annual contributions of $1,200 (12*$100).
Business
2 answers:
Ksju [112]3 years ago
7 0

To solve this problem, we use the formula:

F = A [(1 + i)^n – 1] / i

where,

F is the future value or the amount he will have

A is the amount he invest each year = 1200

n is number of years = 70 – 21= 49

i is the interest or return rate = 7% = 0.07

 

Hence the value of F is:

F = 1200 * [1.07^49 – 1] / 0.07

<span>F = $454,798.80 </span>

AlekseyPX3 years ago
4 0
This can be solved by a formula for compound interest wherein:

A = Expected amount
i = interest raten = annual depositst = timed = initial deposit amount
A = d { [(1 + i/n )nt+1 - (1 + i)] / i }A = 100 { ((1 + 0.00583)841 - (1 + 0.00583)) / 0.07 }A = 100 { (132.793 - 1.0053) / 0.07 }A = 188268 
The final amount would be 188268 dollars after he has already turned to the age of 70 if he would start investing in this investment medium when he is only 21.  
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Word feature that is used to change the amount of blank space between lines of text
IrinaVladis [17]

The answer is Line Spacing.

The line spacing feature is used to change the amount of blank space between the lines of text.

3 0
3 years ago
Unemployment compensation is a. not part of GDP because it is a transfer payment. b. part of GDP because the recipients must hav
Alex17521 [72]

Answer:

a. not part of GDP because it is a transfer payment.

Explanation:

Unemployment compensation includes the funds given to a worker who is currently without a job but actively seeking one. Usually, it is funded from the taxes given to the state by employers.

GDP is the measure (in terms of money) of all goods made or services given in a time period (usually a year) in a particular country. Since the unemployment compensation does not reflect any produced goods or services, it is a <em>transfer paymen</em>t. Thus, it is not included in the GDP.

4 0
3 years ago
Match the ICS Functional Areas with their descriptions.
Doss [256]

Answer:

1. Planning.

2. Command.

3. Intelligence/Investigation.

4. Operations.

5. Finance/Administration.

6. Logistics.

Explanation:

ICS is an acronym for incident command systems and can be used for planned events, as well as for emergencies and coordinated responses in various circumstances or organizations.

The five (5) major functional areas of the incident command system (ICS) are;

1. Planning: Supports the incident action planning process by tracking resources, collecting/analyzing information, and maintaining documentation.

2. Command: Sets the incident objectives, strategies, and priorities, and has overall responsibility for the incident.

3. Intelligence/Investigation: Ensures that all intelligence/investigations operations and activities are properly managed, coordinated, and directed.

4. Operations: Conducts operations to reach the incident objectives. Establishes tactics and directs all operational resources.

5. Finance/Administration: Monitors costs related to the incident. Provides accounting, procurement, time recording, and cost analyses.

6. Logistics: Arranges for resources and needed services to support achievement of the incident objectives.

3 0
3 years ago
A precisely measured volume of 250.0 mL of a saturated NaCl(aq) solution at room temperature is heated to
antoniya [11.8K]

Answer:

0.3516 g/mL

Explanation:

Solubility = Mass of dry solute/ Volume of aqueous solution

= 87.9g / 250 ml

= 0.3516 g/mL

6 0
3 years ago
If estimated annual factory overhead is $546,000; overhead is applied using direct labor hours; estimated annual direct labor ho
pochemuha

Answer:

correct option is c.$1,300 under applied

Explanation:

given data

annual factory overhead = $546,000

annual direct labor hours =  210,000

March factory overhead = $48,100

March direct labor hours = 18,000

solution

we get here Predetermined overhead rate that is express as

Predetermined overhead rate = Estimated overhead ÷  Estimated labor hours   ......................1

put here value

Predetermined overhead rate = \frac{546000}{210000}

Predetermined overhead rate =  $2.6 per labor hour

and

overhead applied is

overhead applied = Actual labor hours in march × Predetermined overhead rate     ................2

overhead applied  = 18000 × $2.6

overhead applied  = $46,800

so we get Under or over applied overhead as

Under or over applied overhead  = actual overhead - applied overhead   ................3

put here value we get

Under or over applied overhead  = $48100 - $46800

overhead = $1,300 under applied

so correct option is c.$1,300 under applied

5 0
3 years ago
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