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
olga_2 [115]
3 years ago
6

A $3,000 annual contribution to a retirement account earning 6% will be worth ____ in 20 years.

Business
2 answers:
iris [78.8K]3 years ago
6 0

Answer:

$60,001.20

Explanation:

3,000 + 6% = 3,000.06 × 20 = 60,001.2

Bond [772]3 years ago
4 0

Answer with Explanation:

Question does not state what kind of interest, here are the three common possibilities:

1. Simple interest of 6%:

Future value (FV) = 3000*(1+0.06*20) = $6600

2. compounded annually:

Future value (FV) = 3000*(1+0.06)^20 = $9621.41 (nearest cent)

3. compounded monthly:

Future value (FV) = 3000*(1+0.06/12)^(20*12) = $9930.61 (nearest cent)

You might be interested in
) Market size and growth rates in different countries can be influenced positively or negatively by A. E) the absence or presenc
tatyana61 [14]

Answer:

B. A) population sizes, income levels and cultural influences, the current state of the infrastructure, and distribution and retail networks available. 

Explanation:

In a country where population is high, the demand for goods and services would be high and this would stimulate market growth. On the other hand, in a country where population is low, demand for products would be low and this can hinder market growth.

In a country where income level is high, demand for goods and services would also be high and this would stimulate market growth. The opposite is the case when income is low.

The presence of good infrastructure in a country enhances innovation and production and this can lead to market growth.

The presence of a strong and good retail network to enhance distribution of goods and services can lead to market growth as it assures producers of efficient distribution of goods and services produced.

I hope my answer helps you

3 0
3 years ago
Pension plan assets were $1,200 million at the beginning of the year and $1,252 million at the end of the year. At the end of th
FromTheMoon [43]

Answer: 4%

Explanation:

From the question, we are informed that Pension plan assets were $1,200 million at the beginning of the year and $1,252 million at the end of the year and that at the end of the year, retiree benefits paid by the trustee were $28 million and cash invested in the pension fund was $32 million.

Based on the above scenario, the percentage rate of return on plan assets goes thus:

Opening balance of plan assets 1200

Add:- Actual return = 48

Add:- contributions = 32

Less :- retiree benefits = -28

Closing balance of plan assets = 1252

It should be noted that the actual return is the balancing figure which is calculated as:

= 1252 + 28 - 1200 - 32

= 48

The percentage rate of return on plan assets will now be:

= 48/1200

=0.04

= 4%

4 0
3 years ago
Other than mr. tambourine man, which is another bob dylan song that appears in coriglianoâs song cycle
natita [175]
There's actually 7 one of which is "Blowin in the wind"
7 0
3 years ago
Brief Exercise 9-17 Record early retirement of bonds issued at a premium (LO9-7)
butalik [34]

Answer:

Dr Bonds payable                       $50,700

Dr premium on bonds payable     $4,265

Cr Cash                                                                                 $53,000

Cr gain on bonds retirement($50,700+$4,265-$53000) $1,965

Explanation:

The premium yet to be amortized on the bond at retirement is the carrying  value minus face value i.e  $54,965-$50,700=$4265

The premium  on bonds payable would now be debited with $4265

The cash paid on retirement would be credited to cash account

The face value of the bonds payable of $50,700 would be debited to bonds payable in order to show that the obligation has been discharged.

4 0
3 years ago
The fact that the equilibrium quantity of loanable funds may increase along with an increase in the real rate of interest A. ass
joja [24]

Answer:A. assumes that demand for loanable funds increases with supply remaining unchanged

Explanation:

Loanable funds is the sum total of all the money people and entities in an economy have decided to save and lend out to borrowers as an investment rather than use for personal consumption. ... One way to make an investment is to lend money to borrowers at a rate of interest.

7 0
3 years ago
Other questions:
  • The 2012 box office receipts for the movie The Avengers were $1,515.8 million. By way of comparison, the 1977 receipts for Star
    7·1 answer
  • Morgan Industries is comparing and contrasting its ending inventory value in terms of the three common inventory costing methods
    6·1 answer
  • In the country Blestonia, people value relationships over business. They use communication as a means of building social relatio
    9·1 answer
  • In the month of March, Ivanhoe Salon services 550 clients at an average price of $150. During the month, fixed costs were $26,88
    9·1 answer
  • Jane is conducting interviews in order to develop a customer profile for her client. She customizes each interview to each parti
    14·1 answer
  • The last dividend paid by Coppard Inc. was $1.25. The dividend growth rate is expected to be constant at 15% for 3 years, after
    12·1 answer
  • What is the objective of the last step in the ethical decision-making framework? Multiple Choice to brainstorm any alternative c
    15·1 answer
  • Delivering bad news within an organization might involve sharing bad news with your boss or another employee in person or in wri
    13·1 answer
  • Bledsoe Company received $17,000 cash from the issue of stock on January 1, Year 1. During Year 1, Bledsoe earned $8,500 of reve
    14·1 answer
  • Below are transactions for Wolverine Company during 2021.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!