Answer: It is done so that it can match the ongoing use of the asset with the economic benefits derived from it.
Explanation:
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
A) You want $1,000,000 when you retire in 40 years. It earns 6 percent annually.
We need to use the following version of the final value formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
FV= 1,000,000
n=40
i=0.06
A= (1,000,000*0.06) / [(1.06^40)-1]
A= $6,461.53
B) You decided to contribute $500 a month into a fund that is expected to earn 6 percent, compounded monthly. If you start the contribution a month from today for 30 years.
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
n= 30*12= 360
i= 0.06/12= 0.005
A= 500
FV= {500*[(1.005^360)-1]}/0.005= $502,257.52
Answer:
b) Tim should be in Governance and Suzette should be in Planning.
Explanation:
Sorry this is a bit late
<span>The correct answer is APR, which stands for Annual Percent Rate. This is the percent rate for the amount of money that you owe for that year only in interests. It comes as a bonus over the loan and usually the banks have you pay the interest before you pay the loan because banks give money to others based on the interest that you pay, and the circle goes on and on.</span>
<span> Before that, support for the elderly wasn't a federal concern - it mostly fell to states, towns and, of course, families.</span>
