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IRINA_888 [86]
3 years ago
7

g How much do you need when you retire to provide a $2,500 monthly check that will last for 25 years? Assume that your savings c

an earn 0.5% a month. $402,766.67 $414,008.24 $388,017.16 $361,526.14
Business
1 answer:
leva [86]3 years ago
4 0

Answer:

The correct answer is $388,017.16

Explanation:

The assumption is that you have to save x money, that generates 0.5% a month, and that provide $2,500 monthly. The savings at second month will be (x-2500) * 1.005. At third month, the saving will be (((x - 2500) * 1.005)-2500)* 1.005. This continues until the twelfth month of the twenty fifth year. The short form of this calculations is C * (1-(1+i)x^{-t})/ i, where C is the monthly provision (2500), i is the interest (0.5%) and t is the time (12 months per year, 25 years, 300 months). The result is 2,500 * (1-(1.005)x^{-300} )/0.005 = $388,017.16.

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Both supply and demand concepts rest on the relationship between quantity supplied or demanded.
Rashid [163]

Answer:

False

Explanation:

Both supply and demand concepts rest on the relationship between price and quantity.

Quantity demanded increase when price falls and falls when price increases.

Quantity supplied increases when price increases and falls when price falls.

The demand and supply curve are plotted with price on the y axis and quantity on the x axis.

I hope my answer helps you

7 0
3 years ago
Controlling the money supply to achieve desired macroeconomic goals is called
Sergio [31]

Answer:

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Explanation:

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3 years ago
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Capabilities are defined as a company's Skills as coordinating its resources and putting them to productive use.

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7 0
2 years ago
Which of the following will probably happen to a product when demand is low?
9966 [12]

Answer:

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3 0
2 years ago
Write the journal entries for the following transaction of Amy's publishing company in September 2020:
Gnesinka [82]

Answer:

Date                        Account Details                                     Debit               Credit

Sept. 30, 2020       Accounts Receivable                          $5,000

                               Sales                                                                              $5,000      

                       

Date                        Account Details                                      Debit              Credit

Sept. 30, 2020       Cost of Goods Sold                             $2,000

                               Inventory                                                                       $2,000

7 0
3 years ago
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