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
zzz [600]
3 years ago
15

Nadine is retiring today and has $96,000 in her retirement savings. She expects to earn 5.5 percent, compounded monthly. How muc

h can she withdraw from her retirement savings each month if she plans to spend her last penny 18 years from now?
Business
1 answer:
Ann [662]3 years ago
6 0

Answer:

The monthly withdrawal is $701.10  

Explanation:

The monthly withdrawal can be computed with PMT formula using excel spreadsheet.

The formula is PMT(rate,nper,-pv)

The fv and type are both taken as zero.

However, the rate of 5.5 % given in the question is a yearly rate,but the requirement of the question is monthly withdrawal, hence the rate is divided by 12 months to reflect a monthly rate i.e 5.5%/12

Besides, the nper should  also to be adapted to show that the withdrawal is to be made every month for 18 years, hence nper is 12*18

The computation of the pmt based on the above highlighted points is found in the attached.

Download xlsx
You might be interested in
Ariel wants to compare the salaries for positions she was offered at two companies. What should she consider in this process?
german

Answer:

  • <em>She should research the cost of living of different locations to compare against the offered salaries.  </em>
  • <em>She should research the benefits included in each offer. </em>
  • <em>She should research the average salary of similar positions to see if the offers are fair. </em>

Explanation:

  • Remember, the cost living at the different locations is good basis to determine how much the actual value of he salary will be worth. For instance if location A pays her $5000 a month and her living expenses from the location takes about $4500, while location B pays her $3500 a month with a living expense of $1000, then she rather goes for location B she has more extra income.

  • Secondly, the benefits included in salaries is also to be considered. Does it includes medical insurance, transport allowance etc.?

  • Third the average industry pay level would also help Ariel know whether to accept any of the offers or not.

8 0
3 years ago
Read 2 more answers
Which part of developing nations economies did the green revolution impact.
tatyana61 [14]

The green revolution helped increase food production, as well as benefiting wealthy farmers in developing countries.

<h3 /><h3>What was the green revolution?</h3>

It was a process that instituted new technologies in agriculture, modernizing the means of production on a global scale. Some of the contributions were the development of agricultural machinery and genetically modified seeds.

Therefore, some countries such as Mexico and India have benefited from the green revolution, helping in the development of agriculture and economy.

Find out more about green revolution here:

brainly.com/question/1082058

#SPJ1

8 0
2 years ago
Read 2 more answers
_____ is an approach to personal selling that assumes that the buying process for most buyers is essentially identical and that
Setler [38]

Answer:

Mental states selling

Explanation:

Mental states selling, or the formula approach to personal selling, assumes that the buying process for most  buyers is essentially identical and that buyers can be led through certain mental states, or steps, in the buying  process.   Relies on a structured sales presentation just like the stimulus response.  These mental states includes (AIDS) attention, interest, desire, and action

3 0
3 years ago
What do u call a dad who wants to smack u for laughing
valkas [14]

Answer:

big daddy

Explanation:

8 0
3 years ago
A company purchased $3,200 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $900 worth of merchandise. On
Jlenok [28]

Explanation:

The correct journal entry is as follows

Accounts payable A/c Dr $2,300      

     To Cash A/c   $2,254            

     To Merchandise Inventory A/c $46

(Being due amount is paid and the remaining balance is credited to the cash account)

It is computed below:

For account payable

= $3,200 - $900

= $2,300

For Merchandise inventory

=  ($3,200 - $900) × 2%  

= $46

4 0
3 years ago
Other questions:
  • Would you be interested in subscribing to 100 mbps ftth for a monthly price of $75? why or why not?
    12·1 answer
  • 7. Plush Furniture sells imported rosewood dining tables. The cost of one mode
    10·1 answer
  • Suppose over the last year that the price of recycled aluminum increased from $800 a ton to $900 a ton. over the same time a mea
    14·1 answer
  • What would be the value of the bond described in Part d if, just after it had been issued, the expected inflation rate rose by 3
    7·1 answer
  • If the poverty trap were made even more difficult to overcome because a working mother will have extra expenses like transportat
    15·1 answer
  • In its first year of business, Borden Corporation had sales of $2,040,000 and cost of goods sold of $1,220,000. Borden expects r
    9·1 answer
  • Fyodor, a manager of the research and development team of an organization, challenges his subordinates to "think outside the box
    12·1 answer
  • Your company has two​ divisions: One division sells software and the other division sells computers through a direct sales​ chan
    6·1 answer
  • Bernice Ruel operates Leather Unlimited, a leather shop that sells luggage, handbags, business cases, and other leather goods. D
    8·1 answer
  • Rousey, Inc., had a cash flow to creditors of $16,380 and a cash flow to stockholders of $6,740 over the past year. The company
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!