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allsm [11]
3 years ago
7

You want to have $60,000 in your savings account 12 years from now, and you’re prepared to make equal annual deposits into the a

ccount at the end of each year. If the account pays 6.4 percent interest, what amount must you deposit each year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Business
1 answer:
Rufina [12.5K]3 years ago
4 0

Answer:

Annual deposit= $3,474.39

Explanation:

Giving the following information:

You want to have $60,000 in your savings account 12 years from now, and you’re prepared to make equal annual deposits into the account at the end of each year. The account pays 6.4 percent interest.

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (60,000*0.064)/[(1.064^12)-1]= $3,474.39

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He would be mad about missing it because he would lose that valuable opportunity to improve his skills, as well as because he would have to make up for missing it.

He would regret missing the session for the same reason.

He tried missing today's session because he had other things on mind, more pressing tasks, the session is valuable but boring, etc.

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Answer:

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3 years ago
The government uses indexing to revise tax brackets so that workers do not pay higher taxes just because
Arturiano [62]
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kvasek [131]

Answer:

False is the correct answer.

Explanation:

8 0
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bagirrra123 [75]

Answer:

See below

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