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kiruha [24]
3 years ago
8

You wish to retire in 14 years, at which time you want to have accumulated enough money to receive an annual annuity of $17,000

for 19 years after retirement. During the period before retirement you can earn 8 percent annually, while after retirement you can earn 10 percent on your money. What annual contributions to the retirement fund will allow you to receive the $17,000 annuity? Use Appendix C and Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods.
Business
1 answer:
bagirrra123 [75]3 years ago
4 0

Answer:

Annual contribution = $5873.06

Explanation:

First we will find the present value at the time of retirement and then we will find the annual contribution during the years of working. Below is the calculation to find the present value

Present value at the time of retirement = Annuity (P/A, r, n)

Present value at the time of retirement = $17000 (P/A, 10%, 19)

Present value at the time of retirement = $17000 (8.365)

Present value at the time of retirement = $142205

Now find the annual contribution:

Annual contribution = Future value (A/F, r, n)

Annual contribution = 142205 (A/F, 8%, 14)

Annual contribution = 142205(0.0413)

Annual contribution = $5873.06

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3 years ago
On August 10,2019 ABC sells 16 mini trenchers to a farm co-op in western Minnesota. ABC provides a 4% volume discount on the min
cestrela7 [59]

Answer:

If it was likely or probable that the farm co-op would meet the benchmark and get the discount (or rebate), then the journal entry should recognize that. But since it is very doubtful that the benchmark will be met, then the journal entry should be made without considering any type of discount.  

I looked for a similar question in order to find the missing numbers:

each trencher is sold at $3,600 and costs $2,000

August 10, 2019, 16 mini trenchers sold to farm co-op

Dr Accounts receivable 57,600

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5 0
3 years ago
What two steps can a project manager take to overcome the planning fallacy?
Lemur [1.5K]

Two steps that a project manager should take to overcome the planning fallacy are:

A) Meet with teammates to uncover potential risks.

C) Consider all risks and carefully examine them.

The planning fallacy is a phenomenon in which predictions about how an awful lot of time might be wished to finish a future task show an optimistic bias and underestimate the time needed.

commonly, participants in those research show off the making plan fallacy. As an example, college college students are generally renowned that they've commonly completed beyond assignments very close to their deadlines, yet they insist that they will end the following undertaking well in advance of the brand new cut-off date.

The making plans fallacy refers to a prediction phenomenon, all too familiar to many, wherein humans underestimate the time it'll take to finish a future task, in spite of the information that previous responsibilities have commonly taken longer than planned.

<em>The question is incomplete. Please read below to find the missing content.</em>

<em />

What two steps can a project manager take to overcome the planning fallacy?

A)Meet with teammates to uncover potential risks.

B)Expand the project’s scope.

C)Consider all risks and carefully examine them.

D)Increase the project’s budget.

Learn more about the planning fallacy here brainly.com/question/9087023

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3 0
2 years ago
Which type of agreement assures that a broker will receive compensation regardless of who procures the buyer?a. Net listingb. Ex
natita [175]

Answer:

b. Exclusive right to sell

Explanation:

-Net listing is when the agent is able to keep the difference when a property is sold for more than the asking price.

-Exclusive right to sell is when the seller gives the agent the right to market the property and accepts to pay the comission to the agent if the property is sold during the period of the listing.

-Open listing is when a property has different agents and the one that gets the buyer receives the comission.

-Exclusive agency is when the seller gives an agent the right to market a property but the seller is able to sell the property to a buyer that was not found by the agent and in that case, the seller doesn't have to pay the comission to the agent.

According to this, the answer is that the type of agreement that assures that a broker will receive compensation regardless of who procures the buyer is exclusive right to sell because the agent is granted the right to sell the property and the seller agrees to pay the comission if the property is sold during the time of the listing last and it doesn't matter who finds the buyer.

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