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Nuetrik [128]
3 years ago
11

Patty stacey deposits $2600 at the end of each of 5 years in an ira. if she leaves the money that has accumulated in the ira acc

ount for 25 additional years, how much is in her account at the end of the 30-year period? assume an interest rate of 6%, compounded annually. (round your answer to the nearest cent.) $ 14656.4417 incorrect: your answer is incorrect.
Business
1 answer:
QveST [7]3 years ago
7 0
<span>From the question, Stacey deposits $2600 six times over a thirty year period since she makes the deposit every five years. Her amount accures by the formular. A = P(1+r/n)^nt. Where her principal P = $2,600. Rate, r =6% =0.06. Time = 30 years and the period of compounding per unit time, n = 6 years. So we have A =2, 600(1+(0.06/6))^(6*30) = 2, 600 (1 + 0.01)^(180) = 2600* 5.9958 = $15, 587. To the nearest cent we have $15, 590.</span>
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Shyla conducted an experiment. she went to the student union and asked people if they would like to be subjects in her study. sh
Assoli18 [71]
No!
It's biased. Grumpy people have a right to have their opinions known just as well as cheerful people. Grumpy looks are momentary. They can be brought about (especially at a University) by math problems that are illusive, by girl friends (or boy friends), that are illusive, by something for lunch that was barely edible, by any number of things. 

She should ask people on some sort of other scale that is more random.
7 0
3 years ago
When using ________ financing, the company incurs a legal obligation to repay the amount borrowed. debt equity retained earnings
Leni [432]
When using Debt financing, the company incurs a legal obligation to repay the amount borrowed. Retained earnings assign to the percentage of net acquiring not to paid out as dividends, but retained by the company to be reinvested in its core business, or to pay a debt.
6 0
3 years ago
Pharoah Corporation had the following activities in 2020. 1. Payment of accounts payable $843,000 4. Collection of note receivab
DIA [1.3K]

Answer:

The amount Pharoah should report as net cash provided (used) by financing activities in its 2020 statement of cash flows is $344,000.

Explanation:

Pharoah Corporation

Statement of cash flows (extract)

Proceeds from common stock                $256,000

Proceed from bond payable                    $466,000

Dividend paid                                           ($333,000)

Purchase of treasury stock                        ($45,000)

Net cash flows from financing activities    $344,000

Note that the payment of accounts payable and collection of notes receivable only affect the operating activities section of the cash flows.

7 0
3 years ago
In a simple, closed economy (no government or foreign sector), disposable income increases from $2,000 to $3,000. If consumption
tamaranim1 [39]

Answer:

The marginal propensity to save is 0.4

Explanation:

The marginal propensity to save is 1 - marginal propensity to consume.

The marginal propensity to consume is the proportion of an increase in income that the consumers will spend from this increased income and the marginal propensity to save is the proportion of the increase in income that will be saved.

The marginal propensity to consume (MPC) = Change in consumption / change in income

The MPC = (2100 - 1500) / (3000 - 2000)  =  0.6

Thus, the marginal propensity to save is 1 - 0.6 = 0.4

8 0
3 years ago
Shady Lane's income tax payable account decreased from $14 million to $12 million during 2016. If its income tax expense was $80
maria [59]

Answer:

A cash outflow of $82 million.

Explanation:

Because during the year Shady had taxes expenses for $80 million but then Shady cancelled $2 million of the Income Tax Payable account, which decreased from $14 million to $12 million.  

3 0
3 years ago
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