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SashulF [63]
3 years ago
7

How much will you need to invest each year over the next 40 years in order to meet your savings goal of $750,000, assuming you a

verage a 7% real rate of return each year?
Business
1 answer:
Sunny_sXe [5.5K]3 years ago
5 0

Answer:

Periodic payment = $3756.85

Explanation:

Given:

Future value = $750,000

Rate (r) = 7% = 0.07

Number of year (n) = 40

Pmt = periodic payment = ?

Computation of periodic payment:

Future \ value = Pmt [\frac{(1+r)^n-1}{r} ]\\\\750,000 = Pmt [\frac{(1+0.07)^{40}-1}{0.07} ]\\\\750,000 = Pmt [\frac{(1.07)^{40}-1}{0.07} ]\\\\750,000 = Pmt [\frac{14.9744578-1}{0.07} ]\\\\750,000 = Pmt [\frac{13.9744578}{0.07} ]\\\\750,000 = Pmt [199.635111 ]\\\\\frac{750,000}{199.635111} = Pmt \\\\Pmt = 3,756.85

Periodic payment = $3756.85

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Mike and Tom debone chicken breasts for Ted's Chicken Co. Mike is new and can only debone 30 chicken breasts per hour, while Tom
vodka [1.7K]

Answer:

Their average hourly productivity as a team for chicken breasts will be

45.

Explanation:

Here, it is given that Mike and Tom debone chicken breasts for Ted' chicken company.

Mike debones 30 chicken breasts,

Meanwhile Tom is having his own experience in this work and knows how to calculate the hourly work

So, Tom allows Mike to debone only 60 chicken breasts per hour.

Now its mentioned that both Tom and Mike had worked 40hrs per week.

So, their average hourly productivity as a team will be:

                 frac\ {{30} +{60}} {2}

                    ⇒ 45

So, their average hourly productivity as a team for chicken breasts will be 45.

7 0
3 years ago
Many consumers buy soft drinks and potato chips together when they shop at a grocery, convenience, or mass merchandiser store. B
Molodets [167]

Answer:

Data mining

Explanation:

Data mining is the process in which we can extract the raw data into useful data that would become beneficial for the company.

Large data is available and if we take the data i.e important or useful so this process we called data mining

In the given situation, it is discovered that when the consumers purchased a sandwich so many customers purchased toothpaste along with it. And for extracting the hiding information from its MIS the store used the data mining technique.

8 0
4 years ago
During the summer between his junior and senior years, James Cook needed to earn sufficient money for the coming academic year.
Nata [24]

He made the decision to try the lawn care business for three months because he was unable to find a job with a suitable compensation. James spent $1,160 on a used pickup truck on June 1 after researching the market. He painted "James Cook Lawn Service, Phone 471-4487" on each door. Additionally, he spent $680 on tools, trimmers, and mowers. He signed a note payable agreeing to pay the $2,520 borrowed plus interest of $65 at the end of the three months in order to purchase these products (ending August 31). We can determine James' profit for the summer

To learn more on financial statements

brainly.com/question/24296949

#SPJ4

5 0
1 year ago
Match each account type with its description. Tiles basic checking account interest-bearing checking account savings account mon
antiseptic1488 [7]
Basic checking account = <span>Both does not earn interest and has a low minimum balance requirement; 
</span>interest-bearing checking account = <span>Both earns interest and allows unlimited ATM use;
</span>savings account = Both restricts access to funds through withdrawals;<span> 
money market deposit account = pays higher interest than a savings account;
</span>
4 0
3 years ago
How do consumer credit counseling services help individuals with excessive debt?
Ulleksa [173]

Answer:

They negotiate with creditors to reduce interest rates and fees

Explanation:

i just did the test and got it right

5 0
3 years ago
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