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Alborosie
3 years ago
14

Marie is putting together a retirement plan and is scheduled to retire in 40 years. She is planning to open a retirement account

and invest an equal amount each month into the retirement account. If she expects to earn 10.5% per year in the account and is planning to have $3,000,000 in the account at retirement, what is the amount of the monthly investment?
Business
1 answer:
kap26 [50]3 years ago
6 0

Answer:

R=407.11$

Explanation:

Since the Marie wants to contribute equal amount per month in order to get the $3,000,000 after 40 years, therefore the future value of annuity formula shall be applied to the given question to solve the problem.

Future value of annuity=R[((1+i)^n-1)/i]

R=monthly investment to be made=?

n=number of payments involved=40*12=480

i= interest rate=10.5%/12=0.875%

Future value of annuity=$3,000,000

$3,000,000=R[((1+0.875%)^480-1)/0.875%]

R=407.11$

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Answer:

Fixed costs are those costs that do not vary with the level of production. While, variable cost are those costs that change with the level of production or per unit consumption.

(a) Repairs to a leaking roof- Fixed cost as it has nothing to do with the level of production.

(b) Cotton- Variable cost as it depends on the number of units produced.

(c) Food for the miller's cafeteria- Variable as it depends on production. The more you produce the more workers you need and thus more is the food requirement.

(d) Night security guard-  Fixed cost as it does not change with the number of units produced by the textile mill.

(e) Electricity- Variable cost as it depends on the units of electricity consumed. The more you produce the more electricity will be consumed.

7 0
3 years ago
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You are sitting around the fire at a lodge in Dillingham, Alaska, discussing a fishing expedition you are planning with your col
Orlov [11]

As indicated in the Preliminary Scope  Statement, some of the potential risks associated with the fishing expedition are:

  • Risk of Water damage to equipment;
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  • Risk of potential loss of fishing equipment. etc.

<h3>What is a Preliminary Scope Statement?</h3>

A Preliminary Scope Statement is a written or documented statement that highlights the significance and level of a project as well as its objectives.

When writing a Preliminary Scope Statement, the goals or objectives have to be itemized in a manner that is:

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6 0
2 years ago
Which of the following is acceptable behavior?
xz_007 [3.2K]

Answer:

All of the above.

5 0
3 years ago
If bonds for Crayon Corporation, with a face value of $150,000, are converted into common stock when the carrying value of the b
Llana [10]

Answer:

(C) Bonds Payable for $150,000

Explanation:

the face value of the bonds will the value at which bonds payable account enter the accounting. Then, there is a discount which decrease the net value of the bonds:

Bonds Payable        150,000 credit

Discount on bonds   15,000  debit

When the bonds are converted, we will write-off these account against common stock and additional paid-in

To wirte-off the account we need to post them in the other side so we got:

Bonds payable debit 150,000 debit

       Discount on bonds         15,000 credit

      Common Stock                       xx credit

      Additional paid.in                    xx credit

These makes option C correct

5 0
3 years ago
On 12/31/X4, Zoom, LLC, reported a $55,500 loss on its books. The items included in the loss computation were $27,000 in sales r
IrinaVladis [17]

Answer:Ordinary Business income loss =-$20,500.

Explanation:

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Here, the ordinary business expenses for Zoom  include

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employee wages= $17,000

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charitable contributions and qualified dividends, do not cut across all industries and so are not classified under Ordinary Buisness expences.

Ordinary Business income loss = Sales revenue - cost of good sold, -employee wages- rent expense.

$27,000- $19,000-$`17,000-$11,500= -$20,500. to be reported on its X4 return

6 0
3 years ago
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