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
olga55 [171]
4 years ago
9

Mr. Moore is 35 years old today and is beginning to plan for his retirement. He wants to set aside an equal amount at the end of

each of the next 25 years so that he can retire at age 60. He expects to live to the maximum age of 80 and wants to be able to withdraw $25,000 per year from the account on his 61st through 80th birthdays. The account is expected to earn 10 percent per annum for the entire period of time. Determine the size of the annual deposits that must be made by Mr. Moore.
Business
1 answer:
Ierofanga [76]4 years ago
3 0

Answer:

c = 2164.16

Explanation:

GIVEN DATA:

Cash Flow= 25000

Interest rate= 10%

Total Periods= 80 - 60= 20 years

PV Ordinary Annuity= C\times (\frac{(1-(1+i)^{-n})}{i})

PV = 25000\times (\frac{(1-(1+0.10)^{-20})}{0.10}) = 212839.09

Annuity to be paid from 35 age to 60 age for amount of 212839.09

No of Periods =  60 - 35 = 25 years

Future Value = 212839.09

Interest rate = 10%

FV Ordinary Annuity = C\times (\frac{(((1+i)^n)-1)}{i})

212839.09 = c \times \frac{(1+0.10)^{25} - 1}{0.10}

c = 2164.16

You might be interested in
If the world price for good A is above the domestic price for good A without trade, then producer surplus will ________ and tota
goblinko [34]

Answer:

The correct answer is letter "B": increase; decrease.

Explanation:

Producer surplus is the difference between the price at which the manufacturer actually sells a product and the minimum price the manufacturer would have accepted. The surplus results from the producer being able to sell their goods at a market price higher than their minimum price.  

So, <em>if producer A manufactures a product that is being sold at a higher price level abroad, its producer surplus will </em><u><em>increase</em></u><em>. However, the overall economic surplus with trade will </em><u><em>decrease</em></u><em> since the introduction to producer A to the market will allow consumers to purchase the goods at a lower price</em>.

6 0
3 years ago
If OSHA's regulations are not obeyed, what can OSHA do
Ray Of Light [21]

Answer:

Make them move to a different state.

Fire them.

6 0
3 years ago
When effective communication affected your success at work
artcher [175]

Answer:

Being able to communicate at school and in the workplace may mean the difference between success and failure. With your peers, communication helps you to engage and find common ground, allowing you to build friendships that not only last a lifetime, but may lead to future employment opportunities.

Explanation:

8 0
3 years ago
What would you pay for an investment that pays you $49000 at the beginning of each year for the next ten years? Assume that the
mr_godi [17]

Answer:

$360,644

Explanation:

The computation of the amount paid for an investment is as follows:

= Payment made × ((1 - (1 + rate of interest)^-number of years) ÷ rate of interest

= $49,000 × ((1 - (1 + 0.06)^-10) ÷ 0.06)

=$360,644

We simply applied the above formula so that the correct value could come

And, the same is to be considered

Hence, the amount paid for an investment is $360,644

6 0
3 years ago
Trade between the middle east brought the black death to europe because
ss7ja [257]

Answer:

Trade between the middle east brought the black death to europe because some of the trading ships passing the trade route was infested with rats that carried the plague.

Explanation:

The Black death also referred to as the bubonic plague was pandemic that was brought about by trade between the Middle East and Europe on the silk road. This plagues killed over 30 to 50 million people when it started from the year 1346 to 1352.

The black death was caused by a Enterobacter bacteria called Yersinia pestis which is present in the vector flea called Oriental rat flea carried by host which were rodents(rats). The rats infested the trading ships from Genoese who came to Europe via Italy. The Black death spread from Asia, down to Europe, Africa and finally the Middle East.

This disease spread from animal to human as well as human to human contact. The characteristics symptoms of this disease includes the presence of boils on the body of the sick that turned sores and the sores eventually became black, hence the name black death. Other symptoms included warm, swollen lymph nodes in the groin or armpit, very high fever, headaches, muscle pain after which death was the end result for some people.

7 0
4 years ago
Read 2 more answers
Other questions:
  • Ranns Supply uses a perpetual inventory system. On January 1, its inventory account had a beginning balance of 6,450,000. Ranns
    9·1 answer
  • GHJ Inc. is investing in a major capital budgeting project that will require the expenditure of​ $16 million. The money will be
    11·1 answer
  • Grading the performance of minority group members by using lower standards and a patronizing attitude is called
    9·1 answer
  • ________ are cooperative arrangements between two firms in which they agree to share resources to accomplish mutually desirable
    8·1 answer
  • Which type of account is always debited during the closing process? Retained earnings Dividends Expense Revenue
    6·2 answers
  • A test that determines whether disease is actually present is
    12·2 answers
  • The Product Owner of a team was asked for a forecast for the completion of a product release. There were 140 story points worth
    9·1 answer
  • During the initiation phase, what does project selection help to do
    7·1 answer
  • Pearland, Inc. has 9,000 shares of preferred stock outstanding. The preferred stock has a $90 par value, a 14% dividend rate, an
    7·1 answer
  • In March, gross earnings of Perlman Company totaled $250,000. All earnings are subject to 7.65% FICA taxes, 5.4% state unemploym
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!