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
Zolol [24]
3 years ago
11

Dan 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 d

oes he need to invest in each of the following years to achieve his goal?
a. $13,241
b. $133,239
c. $10,727
d. $52,450
Business
1 answer:
Ket [755]3 years ago
6 0

Answer:

$13,241

Explanation:

From the data we were given in the question:

future value = fv = $1,500,000

time = t  = 30 year

rate = r = 8%

We are required to find out How much does he need to invest to achieve his goal

solution

future value = principal ( 1+ rate)^(t-1)  / rate

1500000 = principal (1 + .08)^(30-1)/ 0.08

we make principal, p, subject of the formula.

principal = 1500000  / ( (1 + .08)^(30-1)/ 0.08 )

Principal = 1,500,000 / 113.2832

principal =  13241.15

so Dan needs to invest $13241

You might be interested in
in a class of p student the average mark is n and in another class of q student the average mark is n. calculate the average mar
lesantik [10]

Answer: The average mark is n.

Explanation: The average mark is a average of averages. The average mark of class of p student is n, and q student is n, so n+n/2= 2n/2=n.

4 0
3 years ago
The accounting cycle starts with a.closing out the periodic accounts. b.recording the transaction based on the information in a
saul85 [17]

Answer:

letter b, recording the transaction based on the information in a source document

Explanation:

The "Accounting Cycle" follows a series of steps in order to assist the accounting transactions of a company or business. It starts with the "Transaction step" <em>(the first step</em>) where<u> </u><u><em>the source documents have to be examined in order to analyzed transactions.</em></u> This also includes the recording of the transaction in the journal.

This step is followed by <em>Posting the Entries into the Ledger Accounts, Preparing the Unadjusted Trial Balance, Adjusting the Journal Entries, Preparing the Adjusted Trial Balance, Recording Reversing Entries, Preparing Post-Closing Trial Balance, Record Closing of Entries and Preparing Financial Statements.</em>

6 0
3 years ago
One of the main advantages of e-marketing is _
mezya [45]
Personal interaction
8 0
4 years ago
Read 2 more answers
Company A considers buying company B by means of a tender offer. Company B will accept any offer of A which reflects a fair valu
Evgen [1.6K]

Answer:

the price per share in the case when A offers B is $200

Explanation:

The computation of the price per share is as follows:

The fair value is

= ($60 + $120) × 50%

= $90

The 50% represent the percentage of equally

Now the price per share is

= $90 + $90 + $20

= $90 + $110

= $200

Hence, the price per share in the case when A offers B is $200

The same is to be considered

3 0
3 years ago
Sales for the year = $324,882, Net Income for the year = $36,610, Income from equity investments = $8,603, and average Equity du
Andre45 [30]

Answer:

A. 29.6%

Explanation:

Return on Equity is the times of profit a owner can earn on the equity investment in the business. Higher ratio shows the business is more profitable.

As per given data

Net Income =  $36,610

Average Equity = $123650

Return on Equity ( ROE ) = Net Income / Equity Investment

Return on Equity ( ROE ) = $36,610 / $123650

Return on Equity ( ROE ) = 0.296

Return on Equity ( ROE ) = 29.6%

4 0
3 years ago
Other questions:
  • An online buying club offers a membership for $115, for which you will receive a discount of 10 percent on all brand-name items
    14·1 answer
  • If you were opening a checking account at a local bank, what services would you expect your bank to provide?
    7·1 answer
  • The nodes on the original internet system were ________. large corporations marketing companies educational institutions militar
    7·1 answer
  • true or false small businesses help the economy by keeping production and Manufacturing in the United States
    9·1 answer
  • The tragedy of the commons results when​ ___________. A. too many public goods are provided.B. common pool resources are overuse
    5·1 answer
  • These items are taken from the financial statements of Martin Corporation for 2017.
    9·1 answer
  • Shortly before the fall of the Soviet Union, the economist Gur Ofer of Hebrew University of Jerusalem, wrote this: "Themost outs
    12·1 answer
  • Harry owes the bank money. To repay his debt, he paid 150 dollar sign, 150 back to the bank each month. After 10 months, his rem
    7·1 answer
  • Buying Paint April is at the hardware store and must decide whether to buy paint in 11 individual quart cans or to buy it in bot
    15·1 answer
  • The ABC Co. is considering a new consumer product. They believe that the XYZ Co. may come out with a competing product. If ABC a
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!