1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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)

You might be interested in
When offering financial products to clients, you may:
Anton [14]

Answer:

d. All of the above.

Explanation:

All the three actions are appropriate actions for when offering financial products to clients.

a) is appropriate because prior clients are likely to have most of the information in the company's records.

b) is appropriate because as you gain experience, you become more knowledgeabe and intuitive about which clients should be offered a determined product.

c) is appropriate because as a financial worker, it is your duty to decline requests for financial products from clients who do not meet the given criteria.

6 0
2 years ago
HELPPPPPP!!!!
lidiya [134]

Answer:

B. Greater efficiency

Explanation:

Efficiency, in this case, will refer to achieving the desired results with minimal or no wastage. A distribution manager has the responsibility to ensure goods get to their destination as scheduled. The manager's efficiency will be gauged by the speed, accuracy, and safety of deliveries.

Other than cost savings, the distribution manager has to aim at achieving greater efficiency. Customer service and pricing are functions of other managers.

8 0
3 years ago
Read 2 more answers
The most important and volatile component of the current account in the U.S. balance of payments is:
astraxan [27]

Answer: net exports

Explanation:

Balance of payment simply shows the estimation of the inflows and outflow of a nation's money for a certain year. It should be noted that current account of the balance of payment consists of three main components which are the trade in Goods, the trade in services, and the transfer payments.

The trade in goods is segregated into imports and export. This therefore makes the net exports volatile and vital because it has higher share in a current account.

3 0
3 years ago
Accounts receivable are assets on a balance sheet most likely because they represent the?
Ierofanga [76]
Aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
4 0
3 years ago
If your risk-aversion coefficient is A = 4.4 and you believe that the entire 1926–2015 period is representative of future expect
tamaranim1 [39]

Answer:

=> fraction of the portfolio that should be allocated to T-bills = 0.4482 = 44.82%.

=> fraction to equity = 0.5518 = 55.18%.

Explanation:

So, in this question or problem we are given the following parameters or data or information which are; that the utility function is U = E(r) – 0.5 × Aσ2 and the risk-aversion coefficient is A = 4.4.

The fraction of the portfolio that should be allocated to T-bills and its equivalent fraction to equity can be calculated by using the formula below;

The first step is to determine or Calculate the value of fraction to equity.

Hence, the fraction to equity = risk premium/(market standard deviation)^2 - risk aversion.

= 8.10% ÷ [(20.48%)^2 × 3.5 = 0.5518.

Therefore, the value for fraction of the portfolio that should be allocated to T-bills = 1 - fraction to equity = 1 - 0.5518 =0.4482 .

8 0
3 years ago
Other questions:
  • On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-par common stock (with a stated value of $3) at $12. On July 6
    10·1 answer
  • What is 1,000 yen in the usa
    15·1 answer
  • Match the job role with the job title. (More than three answers)
    9·1 answer
  • An analysis of your medical records would be similar to which research method?
    11·1 answer
  • A prototype is a Group of answer choices mental grouping of similar objects, events, ideas, and people. step-by-step procedure f
    9·1 answer
  • Abe owns a dog; the dog's barking annoys Abe's neighbor, Jenny. Suppose that the benefit of owning the dog is worth $200 to Abe
    5·2 answers
  • A car insurance policy has a $500 deductible for comprehensive coverage and a $1000
    8·2 answers
  • Camille Sikorski was divorced in 2017. She currently provides a home for her 15-year-old daughter Kaly. Kaly lived in Camille’s
    13·1 answer
  • Even though Yvonne is terrible at playing tennis, she could still consider it an interest of hers.
    7·2 answers
  • Boxwood Company sells blankets for $40 each. The following was taken from the inventory records during May. The company had no b
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!