Answer:
$240,885.11
Explanation:
The formula to be used is = annual payment x annuity factor
Annuity factor = {[(1+r) ^N ] - 1} / r
R = interest rate = 8.2 percent
N = number of years = 25
[(1.082^25) - 1 ] / 0.082 = 75.276598
75.276598 x $3,200 = $240,885.11
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The answer has to be true
Answer:
Monthly deposit= $485.93
Explanation:
Giving the following information:
You want to retire exactly 35 years from today with $2,020,000 in your retirement account.
interest rate= 10.35 percent compounded monthly
First, we need to calculate the monthly interest rate.
Monthly interest rate= 0.1035/12= 0.008625
Now, using the following formula we can calculate the monthly deposit:
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
n= 35*12= 420
A= (2,020,000*0.008625) / [(1.008625^420)-1]
A= $485.93
Answer:
real GDP.
Explanation:
GDP is defined as the monetary value of all goods and services produced in an economy within a give time period. It is a measure of how productive an economy is.
Real GDP considers market prices of commodities in relation to a base year.
For example if 2012 is considered to be the base year for real GDP this year, all goods and services are multiplied by the prices as at 2012 to get the monetary value of goods and services for the present year.
Base year prices are referred to as constant prices when calculating real GDP.
A compute the company’s net sales for the year