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Greeley [361]
3 years ago
12

You are saving for retirement. To live​ comfortably, you decide you will need to save $ 2 million by the time you are 65. Today

is your 23 rd ​birthday, and you​ decide, starting today and continuing on every birthday up to and including your 65 th ​birthday, that you will put the same amount into a savings account. If the interest rate is 5 %​, how much must you set aside each year to make sure that you will have $ 2 million in the account on your 65 th ​birthday?
Business
1 answer:
vichka [17]3 years ago
4 0

Answer:

Annual deposit= $14,789.43

Explanation:

Giving the following information:

You decide you will need to save $ 2 million by the time you are 65.

The interest rate is 5 %​. The number of years until 65 is 42.

We need to use the following Final Value formula:

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

A= annual deposit

Isolating A:

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

A= (2000000*0.05)/[(1.05^42)-1]= $14,789.43

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PLEASE HELP ME!!!<br> How are mental, physical, and financial health related? Three sentences
cricket20 [7]

Answer:

They are related because all of the heaths are commonly linked to anxiety and depression. So when a person is financially struggling they can have anxiety which affects their mental health which affects there want to be physical which makes their physical health bad. So all of these are linked together so if one is bad then the others are sure to become bad too.

4 0
3 years ago
What is a branch of economics that typically deals with how prices are determined in markets and how markets adjust to a variety
tekilochka [14]

Answer:

Microeconomics

Explanation:

Microeconomics relates to the interaction of a single market with different markets, and that such individual market tends to determine the price of a commodity in relation and interaction with different markets.

Here, in microeconomics we analyse and study the choices of an individual using various scarce resources for completing production, consumption and exchange.

Thus, correct answer is -

Microeconomics

6 0
4 years ago
According to the categories of business products, _____ are expense items that do not become part of a final product.
Nina [5.8K]

Answer:  Option D                      

     

Explanation: In simple words, business services refers to the activities that supports the business but do not provide any kind of tangible commodity from them.

Accounting, marketing, insurance and education are some of the many examples of business services.

From the above we can conclude that the correct option is D.

7 0
3 years ago
East Asian Imports, Inc. issued 15,000 shares of stock at a stated value of $8 per share. The total issue of stock sold for $15
Andre45 [30]

Answer:

Dr Cr

Cash (15,000 × $15) $225,000

Common Stock $120,000

(15000 shares × Stated value $8)

Paid-In Capital in Excess of Stated $105,000

Value - Common

($225,000 - $120,000)

8 0
3 years ago
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding
ANTONII [103]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

1)

A) Absorption costing captures all product costs (direct labor, direct material, manufacturing overhead) to each unit of a product produced during the period. It includes variable and fixed cost.

Absorption cost= Direct material used + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead

B) Income statement:

Revenue/Sales (+)

Cost of Goods Sold (COGS) (-)

=Gross Profit

Marketing, Advertising, and Promotion Expenses (-)

General and Administrative (G&A) Expenses (-)

=EBITDA

Depreciation & Amortization Expense (-)

=Operating Income or EBIT

Interest (-)

Other Expenses (-)

=EBT (Pre-Tax Income)

Income Taxes (-)

=Net Income

2)

A) Variable costing= Direct material used + Direct labor + Variable manufacturing overhead + variable selling and administrative

B) Income statement

Sales

Cost of good sold (-)

Contribution margin

Fixed costs (-)

Depreciation expense (-)

Interest (-)

Net operating profit

Tax (-)

Net profit

5 0
3 years ago
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