Answer:
$88,382.67
Explanation:
Here is the complete question:
Sally makes deposits into a retirement account every year from the age of 30 until she retires at age 65.If Sally deposits $1200 per year and the account earns interest at a rate of 4% per year, compounded annually, how much will she have in the account when she retires?
To calculate the future value of the annuity, we use this formula: amount x annuity factor
Annuity factor = {[(1+r) ^N ] - 1} / r
Amount = $1200
R = interest rate = 4%
N = number of years = 35
=( 1.04^35 - 1) / 0.04 = 73.652225
73.652225 × $1200 = $88,382.67
I hope my answer helps you
Answer:
The colorado ranching is not expanding
Explanation:
The null hypothesis, H₀ : μ = 2.7 billion
Alternative hypothesis, Ha : μ > 2.7 billion
n = 30
The observed test statistic,
Degree of freedom = n-1 = 30 -1 = 29
Significance level = 0.05
For the critical value, we check the t - table at 0.05 significance level
Since
, we will accept H₀
That is the mean total cash receipt is 2.7 billion and the colorado ranching is not expanding
Answer: Efficiency
Explanation:
The lack of efficiency is one of the main factor in decreasing the productivity of an organization and it slows the effort and response of the work. The following are the main cause of the lack of efficiency are as follows:
- The lack of supervision
- Inconsistency
- Lack of communication
According to the question, the slow response helping the victim of the hurricane Katrina arrive in the fashion timely is due to the lack of efficiency. As, efficiency plays an important role in an organization for increase the competitiveness and effectiveness.
Therefore, Efficiency is the correct answer.
Answer:
Rate of return= 11.25%
Explanation:
<em>The accounting rate of return is the average annual income expressed as a percentage of the average investment. </em>
<em>The simple rate of return can be calculated using the two formula below: </em>
<em>Accounting rate of return </em>
= Annual operating income/Average investment × 100
Average investment = (Initial cost + scrap value)/2
Average annual income = Total income over investment period / Number of years
Average investment = (60,000 + 20,000)/2= $40,000
Average annual income is already given as = 4,500
Rate of return = 4500/40,0000 × 100 = 50%
Rate of return= 11.25%
