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
Darina [25.2K]
4 years ago
6

Your Aunt Elsa has $500,000 invested at 6.5%, and she plans to retire. She wants to withdraw $40,000 at the beginning of each ye

ar, starting immediately. What is the maximum number of whole payments that can be withdrawn before the account is exhausted, i.e., before the account balance would become negative?
Business
1 answer:
Ksju [112]4 years ago
7 0

Answer:

22.85

Explanation:

Present value (PV): $500,000

Rate: 6.5% per annual

Payment (PMT) : $40,000 per year

We can use excel to calculate the maximum number of whole payments that can be withdrawn before the account is exhausted

=NPER(rate, PMT, -PV,,1) = NPER (6.5%,40000,-500000,,1) = 22.85

Download xlsx
You might be interested in
Raman is a Government servant, his wife Radha is an advocate and their son Amit is engaged in retailing of electronic goods. Ide
Ede4ka [16]

Answer:

Kindly see Explanation

Explanation:

Raman is described above as being a government servant, this means Raman is an employee of the Federal or State Government. In other words, Raman works in a government runned establishment. Raman is in the civil service.

Radha who is described as an advocate could be explained as an individual who lends his or her voice in other to make others get heard or a protagonist of a certain course.Radha could be described as being into Law or judicial activities.

Amit who retails electronic goods could be described as being self-employed who is into buying and selling.

Difference between activities of Raman, Radha and Amit.

1.) Engagement sector:

Raman works in the civil service, while Radha work is inclined with the legal and activism process and Amit is into commerce.

EMPLOYER:

2.) Raman is clearly a government employee, Radha could work for Non-governmental or Volunteer organizations, while Amit is Self-employed.

DECISION-MAKING :

3.) Raman works based on defined government framework and rules, Radha as an advocate is more inclined towards promoting morality, While Amit will make decisions based on what is best for his business as an entrepreneur.

8 0
3 years ago
In marketing, an organization refers to
adelina 88 [10]

Answer:

the answer is C. a legal entity of people who share a common mission.

7 0
4 years ago
On April 1, Garcia Publishing Company received $1,818 from Otisco, Inc. for 36-month subscriptions to several different magazine
MrRa [10]

Answer:

Accrued revenues for the first year: $ 454.5

Explanation:

1,818 is the value of 36 months of subscriptions.

Therefore, the value of a month is $ 1,818 / 36 months = $ 50.5

Garcia will recognize revenue as time past, each month will accrue a month of earnings.

For the first year will accrued from April 1st to December31th

That is 9 months:

50.5 per month x 9 months = 454.5

5 0
3 years ago
Alma is interested in receiving income to help save money for her grandson’s college education. She is considering investing in
sergij07 [2.7K]

Answer:

D. the company does not have a legal obligation to pay dividends when promised.

Explanation:

Dividends are share of income distributed by the company to shareholders when the company performs good, and earns profit.

But since it is a distribution of income and not a mandatory payment, there might be chances that company do not pay dividends, and might retain the income earned for future growth prospects.

Thus, in order to earn money fast although the company promises to make dividend payments, but it shall be taken care, that the company will necessarily pay dividends.

6 0
4 years ago
Tyler Jones is authorized to prepare and sign checks for the company. He also enters the checks into the ledger. He wrote a $500
mina [271]
The fictitious company
4 0
4 years ago
Other questions:
  • Wonder Coffee is a chain of coffee serving outlets and specializes in selling different flavors of coffee. The increase in the p
    6·1 answer
  • Who best exemplifies the traits of a lifelong learner?
    14·1 answer
  • 1. When John received his W2, he received several copies. Why was he sent multiple copies of this form?
    9·1 answer
  • In order for the United States to have a treaty with a foreign country the
    9·2 answers
  • Om is a college student at FSU. He has the option to buy a parking pass at the beginning of the year for $250. If Tom doesn't bu
    15·1 answer
  • Randy is 60 years old and realizes that his reading speed and eyesight are not as robust as they were when he was younger. he st
    7·1 answer
  • Gary had developed an extremely successful advertising and promotion campaign for a client in the United States. The client want
    10·1 answer
  • During which month would you have the most time to devote to freelance floral projects?
    15·1 answer
  • Quesuon completion Status:
    6·1 answer
  • Which of the following is a determinate of an organization's culture?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!