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
satela [25.4K]
2 years ago
6

John would like to save $1,500,000 by the time he retires in 30 years and believes he can earn an annual return of 8%. How much

does he need to invest each year to achieve his goal?
Business
1 answer:
leonid [27]2 years ago
3 0

Answer:

he need to invest $13,241 each year to achieve his goal

Explanation:

Target Saving Amount = Future value = F = $1,500,000

Number of years = n = 30 years

Inyterest rate = r = 8% = 0.08

Invetment to be made = P = ?

Use following formula to calculate Invetment amount

F = P x ([1 + r]^n - 1 )/r

P = F / ([1 + r]^n - 1 )/r

P = 1,500,000 / ([1 + 0.08]^30 - 1 )/0.08

P = 1,500,000 / 113.2832

P = 13241.15

You might be interested in
Explain five reasons that may cause a company to redeem its own shares ​
pochemuha
- Companies buyback shares for a variety of reasons, including firm consolidation, increased equity value, and to appear more financially appealing.


-The disadvantage of buybacks is that they are frequently financed with debt, putting a burden on cash flow.


-Stock repurchases can have a modestly favorable impact on the economy as a whole.
4 0
2 years ago
Write 5-7 words that are similar to marketing. What words come to your mind when you think of marketing?
Gwar [14]

Answer:

sell, retail, trade, advertise, promote, buying,

Explanation:

7 0
3 years ago
What are 2 characteristics for intellectual property rights? (in Entrepreneurship)​
elena-14-01-66 [18.8K]
<h2>Copyright Protection </h2>
  • A copyright will protect the following categories of works:

literary works

  • musical works, including any accompanying words
  • dramatic works, including any accompanying music
  • pantomimes and choreographic works
  • pictorial, graphic and sculptural works
  • motion pictures and other audiovisual works
  • sound recordings
  • architectural works
  • computer programs (sometimes the graphical user interface) and websites
<h2>Patents </h2>

Patents protect processes, methods and inventions that are "novel," "non-obvious" and "useful." If granted, a patent gives you a 20-year monopoly on selling, using, making or importing an invention into the United States.

(These are 2 characteristics of property rights)

5 0
3 years ago
What is input, conversion process, and output
blondinia [14]
Hello!

Think of a machine. You put something in. This is the input. The conversion process is whatever goes on inside the machine. Let's say that the machine will spray paint a vase you put into it.  The vase is the input. The spray painting is the conversion process. What comes out of the machine, or the result, is the output. In our example it would be the painted vase.

The conversion process changes the input into the output.

For example, think of a function, or a table. Let's say that we have the rule, +1. Let's say our input is 1. The conversion process is +1. This makes 1 become the output of two.

I hope this helps!
6 0
3 years ago
We have the following data for a hypothetical open​ economy: GNP​ = ​$10 comma 00010,000 Consumption​ (C) = ​$8 comma 2008,200 I
jok3333 [9.3K]

Answer:

Current account​ balance. = -$600

Explanation:

Given:

GNP = $10,000

Consumption (C) = $8,200

Investment (I) = $1,200

Government Purchases (G) = $1,200

Find:

Current account​ balance.

Computation:

GNP = Consumption (C) + Investment (I) + Government Purchases (G) + Current account​ balance.

$10,000 = $8,200 + $1,200 + $1,200 + Current account​ balance.

Current account​ balance. = $10,000 - $10,600

Current account​ balance. = -$600

7 0
3 years ago
Other questions:
  • Chamberlain Co. wants to issue new 20-year bonds for some much-needed expansion projects. The company currently has 6 percent co
    9·1 answer
  • Morrison Foods has decided to introduce a new line of turkey products to the American consumer. Turkey steaks resemble beefsteak
    15·1 answer
  • "marketing personnel and product designers must work closely with operations to successfully develop and produce new products be
    15·1 answer
  • George, a regional manager for a global corporation, is meeting with several upset managers from the rome plant about steve, who
    10·1 answer
  • Alan runs a small manufacturing business. One day, a subordinate informed Alan about a problem in the production process because
    10·2 answers
  • Nottebart Corporation has outstanding 10,000 shares of $100 par value, 6% preferred stock and 60,000 shares of $10 par value com
    10·1 answer
  • What are the different structures of the market
    13·1 answer
  • Duo, Inc., carries two products and has the following year-end income statement (000s omitted): Product AR-10 Product ZR-7 Budge
    15·1 answer
  • Once the decision has been made to implement an ERP system, the initial step is to select an ERP vendor.
    9·1 answer
  • Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity. 1. issue $80,000 in sto
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!