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
RUDIKE [14]
3 years ago
15

Robert hitchcock is 40 years old today and he wishes to accumulate $500,000 by his 65th birthday so he can retire to his summer

place on lake hopatcong. he wishes to accumulate this amount by making equal deposits on his 40th through his 64th birthdays. what annual deposit must robert make if the fund will earn 12% interest compounded annually?
Business
1 answer:
Anni [7]3 years ago
3 0

The problem wants to find out the cash flow per period that Robert will make from his 40th birthday until his 65th birthday. We know that he wants to get $500,000 by his 65th birthday thus this is the future value of his money. To solve for the cash flow per period, the equation is Future value = Annuity * [((1+i)^n-1)/i]. The n is the number of payments Robert would make which is 25. The answer would be $3749.98. 

You might be interested in
If the demand for a product decreases, what is likely to happen?
matrenka [14]
I m pretty sure the product supply would grow then the price would drop
5 0
3 years ago
A bank can borrow or lend at LIBOR. Suppose that the six-month rate is 4% and the nine-month rate is 5%. The rate that can be lo
Svetlanka [38]

Answer: Interest rate from Banks

Explanation: The Opportunities open to the bank areas follows-1.Customers Visiting the bank for loans 2. This will encourage retained earnings for the bank. 3. The interest rate will increase the bank equities on the stock exchange market. 4. This will attract investment opportunities in other sectors for the bank.

4 0
3 years ago
Management? Is it for you?
Pepsi [2]

Answer:

Not really, too much stress imo

Explanation:

8 0
2 years ago
King Mechanic is a very profitable automobile repair shop. The company is well known for its great service and involvement in th
Sophie [7]

Answer:

Social

Explanation:

Social responsibility refers to an individual or organization's obligations towards society to protect and preserve environment and natural resources. Organizations are supposed to earn profits without hampering the environment.

Here, King Mechanic earns profit but fails to fulfill social responsibility of disposing used oil safely as instructed in the environmental regulations.

4 0
2 years ago
Suppose Musashi and Rina are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix
natulia [17]

Answer:

a) Dominant strategy is for Rina to choose Right.

b) Musashi chooses left and Rina chooses right

Explanation:

As per the data given in the question,

a).

A winning strategy is the tactic a player selects regardless of the tactic other player selects.

When Rina selects left, Musashi selects right because  (7>4)

When Rina selects right, Musashi selects left because  (6>4)

When Musashi selects left, Rina selects right because (6>1)

When Musashi selects left, Rina selects right because  (7>6)

So only dominant strategy is for Rina to choose Right

b)

In a Nash equilibrium, the players decide their strategies taking in consideration other strategy.

Hence, Musashi chooses left and Rina chooses right, (payoff: 6,1)

4 0
3 years ago
Other questions:
  • Malcolm is part of a team developing a new smartphone app to track traffic patterns. Because team members are located throughout
    8·1 answer
  • From the information given below construct a cash budget for five months period starting form May 20X1 till September. MONTH AND
    9·1 answer
  • According to Thorstein Veblen, a successful businessman would be most likely to demonstrate his worth to others by:_______. a. a
    15·1 answer
  • All the following are benefits of attending a community college except that
    13·1 answer
  • One consequence of a property distribution by a corporation to a shareholder is thatA.the holding period of the distributed prop
    6·1 answer
  • Among the advantages of cycle counting is that it: allows more rapid identification of errors and consequent remedial action tha
    6·1 answer
  • Oftentimes, the socially optimal quantity for a product that imposes external costs on the society is not zero, but something gr
    6·1 answer
  • An adjustable rate mortgage originator is adversely affected by _______ interest rates while the borrower is adversely affected
    9·1 answer
  • Company manufactures luggage sets. sells its luggage sets to department stores. expects to sell luggage sets for each in and lug
    9·1 answer
  • If the risk-free rate of interest (rf) is 6%, then you should be indifferent between receiving $250 today or:
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!