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
A partial listing of costs incurred during March at Febbo Corporation appears below: Factory supplies $ 9,000 Administrative wag
lana [24]

Answer:

$293,000

Explanation:

The computation of the product cost is shown below:

= Direct material + direct labor + factory supplies + factory depreciation + indirect labor

= $126,000 + $99,000 + $9,000 + $33,000 + $26,000

= $293,000

The factory supplies + factory depreciation + indirect labor = manufacturing overhead

All other cost are not relevant for the computation part. Hence, ignored it

6 0
3 years ago
Bill, age 65 has 2020 unreimbursed medical expenses totalling $20,000 and an adjusted gross income of $170,000. How much of thos
svp [43]

Answer:

$7,250

Explanation:

You can deduct medical expenses <u>that exceed</u> 7.5% of your AGI (changes, but is currently at this level).

170,000 x .075 = 12,750

20,000 - 12,750 = $7,250

I hope this helps!

-TheBusinessMan

7 0
3 years ago
Consider the market for meekers in the imaginary economy of Meekertown. In the absence of international trade, the domestic pric
kotykmax [81]

Answer:

Export

true

Explanation:

Because the price of meekers in meekertown is lower than the world price for meekers, meekers from meekertown are cheaper. so if free trade is allowed, other countries would want to purchase meekers from meekertown because it is cheaper.

So, meekertown would export meekers if free trade is allowed.

When a country is too small affect the world price, allowing for free trade will always increase total surplus in that country, regardless of whether it imports or exports as a result of international trade.

this is so because if the country is efficient in production of a good (producing at a lower price when compared to the world price), export of the good would increase thus increasing producer surplus. if on the other hand, the country is inefficient in producing a good and the country allows for free trade, the country can import the good. this would increase consumer surplus.

4 0
3 years ago
Which of these factors led to the stock market crash of 1929? A) high interest rates. B) low tariff barriers C) high taxes D) ex
Kaylis [27]

I believe the answer is: D) excessive credit expansion

Excessive credit expansion allow a person to obtain high value assets even if they do not have any money to pay for it. This create an economic bubble that eventually popped overtime, creating a massive economic depression that almost drive the nation into bankruptcy.

3 0
3 years ago
Read 2 more answers
Competition happens when two or more businesses
g100num [7]

Answer:

fight for the same benefit or gain

Explanation:

For example, if there are two firms in an industry. The goal of the two firms would be to maximise profit. To achieve this, the two firms would engage in various competitions in order to attract customers.

For example, they may differentiate their products or give discounts in order to attract customers and so increase profits

5 0
3 years ago
Other questions:
  • Alejandro is a computer programmer employed by XYZ Tech Corp. He is Hispanic. He gets an offer from another company that is tryi
    10·1 answer
  • The level of service exports worldwide increased more than _______ between 1980 and 2010
    14·1 answer
  • Assume you are now 25 and you want to have a million dollars by the time you are 65. if you can earn 6% per year, compounded ann
    6·1 answer
  • When developing and maintaining good stakeholders relationships companies find that
    5·1 answer
  • How is the market price for a product determined?
    12·1 answer
  • Which of the following is known as a partnership agreement? articles of partnership distribution of assets shared liability the
    8·1 answer
  • Hypothetical Country has $120 in currency, $280 in reserves, and $900 in deposits. There are no excess reserves. Use this inform
    10·1 answer
  • 1. Out of 115000 students, 20% failed in SLC,40% of failers.
    7·2 answers
  • My name marsh, ninja
    15·1 answer
  • brown industries operates a defined benefit pension plan. information received from the actuary and the trustee related to the y
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!