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NNADVOKAT [17]
2 years ago
7

You are to make monthly deposits of $450 into a retirement account that pays an apr of 10.7 percent compounded monthly. if your

first deposit will be made one month from now, how large will your retirement account be in 32 years? (do not round intermediate calculations and round your answer to 2 decimal places,
e.g., 32.16.) retirement account value in 32 years
Business
1 answer:
USPshnik [31]2 years ago
3 0

The retirement account value in 32 years is calculated using the FV function in excel as in =FV(rate,nper,pmt) where

rate (monthly interest rate)= 10.7% = 0.107 = 0.107/12 (Monthly)

nper (number of periods)= 32*12 = 384 months

pmt (Monthly deposit) = 450

The retirement account's value in 32 years =FV(0.107/12,384,450) = 1,475,143.62

Your retirement account will be in 32 years =$1,475,143.62 (Rounded to 2 decimals)

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A good with many close substitutes will have a highly elastic demand. This is because an increase in the price of the good will causes the consumers to purchase one of its cheaper substitutes.  

If both a diamond necklace and a heart valve for heart attack victims are priced the same, the price elasticity for the heart valve will be lower. This is because the diamond necklace is a luxury good but the heart valve is necessary for the survival of the victim.

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Im pretty sure the answer is C loans
8 0
3 years ago
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Answer:

I belive it would be A

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An investment counselor calls with a hot stock tip. he believes that if the economy remains​ strong, the investment will result
vlabodo [156]

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3 years ago
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Choose the method of pay that would result in the most earnings for one month on sales of $40,000. A. Straight commission of 7.
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The method of pay that would result in the most earnings is method 1.

<h3>What method of pay would result in the most earnings?</h3>

In order to determine which method of pay would yield the highest earnings, the total amount that would be earned using each method of pay has to be determined.

Method A = 7.5% x $40,000 = $3000

Method B = $1600 + (2.5% x $40,000) = $2,600

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To learn more about pay, please check: brainly.com/question/11946555

8 0
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