Athlete Kalen wishes to retire at age forty-five and receive annual birthday payments of $40,000 beginning on his forty-fifth bi
rthday. After his death, the payments on the anniversary of his birth should go to his heirs. In order for Kalen to be able to carry out his plan, he makes contributions to a savings account with a guaranteed annual effective interest rate of 4%. How much money will Kalen need to have accumulated at age forty-five, just prior to his first $40,000 birthday payment
The managers are engaging in quality control to lessen the
error of the result of the operation in the company. Quality control is maintaining
the standards of company products by testing the products. It is also the way
of ensuring the quality of products or services they rendered.