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
natulia [17]
3 years ago
5

Charlie Stone wants to retire in 30 years, and he wants to have an annuity of $1,000 a year for 20 years after retirement. Charl

ie wants to receive the first annuity payment at the end of the 31st year. Using an interest rate of 10%, how much must Charlie invest today in order to have his retirement annuity (round to the nearest $10)?
Business
1 answer:
lara [203]3 years ago
7 0

Answer:

Present value Due = $9,364.92

Explanation:

Given:

Number of payment (n) = 20

Periodic payment (PMT) = $1,000

Rate of interest (i) = 10% = 10/100 = 0.1

Present value of annuity = ?

Computation of Present value of annuity:

Present Value = PMT [\frac{1-(1+i)^{-n}}{i}] (1+i)\\

Present Value = 1,000 [\frac{1-(1+0.1)^{-20}}{0.1}] (1+0.1)\\\\Present Value = 1,000 [\frac{1-(1.1)^{-20}}{0.1}] (1.1)\\\\Present Value = 1,000 [\frac{1-0.148643628}{0.1}] (1.1)\\\\Present Value = 1,000 [\frac{0.851356372}{0.1}] (1.1)\\\\Present Value = 1,000 [\frac{0.851356372}{0.1}] (1.1)\\\\Present Value = 9,364.92

Present value Due = $9,364.92

You might be interested in
3. Describe three new weapons used in World War I and explain how each of these w<br>​
Leto [7]

how each of these "w"?  im guessing it means work. and three weapons from then that are "new"? are:

Rifles. All nations used more than one type of firearm during the First World War. The rifles most commonly used by the major combatants were, among the Allies, the Lee-Enfield .303 (Britain and Commonwealth), Lebel and Berthier 8mm (France), Mannlicher–Carcano M1891, 6.5mm (Italy), Mosin–Nagant M1891 7.62 (Russia), and Springfield 1903 .30–06 (USA). The Central Powers employed Steyr–Mannlicher M95 (Austria-Hungary and Bulgaria), Mauser M98G 7.92mm (Germany), and Mauser M1877 7.65mm (Turkey). The American Springfield used a bolt-action design that so closely copied Mauser’s M1989 that the US Government had to pay a licensing fee to Mauser, a practice that continued until America entered the war.

Machine guns. Most machine guns of World War 1 were based on Hiram Maxim’s 1884 design. They had a sustained fire of 450–600 rounds per minute, allowing defenders to cut down attacking waves of enemy troops like a scythe cutting wheat. There was some speculation that the machine gun would completely replace the rifle. Contrary to popular belief, machine guns were not the most lethal weapon of the Great War. That dubious distinction goes to the artillery.

Flamethrowers. Reports of infantry using some sort of flame-throwing device can be found as far back as ancient China. During America’s Civil War some Southern newspapers claimed Abraham Lincoln had observed a test of such a weapon. But the first recorded use of hand-held flamethrowers in combat was on February 26, 1915, when the Germans deployed the weapon at Malancourt, near Verdun. Tanks carried on a man’s back used nitrogen pressure to spray fuel oil, which was ignited as it left the muzzle of a small, hand-directed pipe. Over the course of the war, Germany utilized 3,000 Flammenwerfer troops; over 650 flamethrower attacks were made. The British and French both developed flame-throwing weapons but did not make such extensive use of them.

there are many more, but here are 3 i found from a trustworthy source!

7 0
3 years ago
Under the Securities Act of 1933, if damages were incurred and there was a material misstatement or omission in the financial st
dedylja [7]

Answer:

The CPA rebuts the allegations

Explanation:

The Securities Act of 1933 requires that investors receive financial and other significant information regarding any and all securities being sold publicly and prohibits deceit, misrepresentations, and other fraud in the sale of securities. Therefore, since there was material misstatement or omission in the financial statements, the only chance the CPA has is if they rebut the allegations. Meaning that they provide actual evidence, such as physical statements or witnesses that contradict or nullify the evidence that is being presented against them regarding the material misstatement or omission

3 0
3 years ago
You just invested $1000 in an account that returns 5% per year. After 50 years, when you are old and gray, what will be the valu
nikitadnepr [17]
Jahsjsjshsnsjdjjshsnananaa
3 0
2 years ago
Read 2 more answers
is the sum of all the values that customers exchange for the benefits of having or using a product or service.
snow_tiger [21]

Price. It is the sum of all values that buyers exchange for the benefits of having or using a good or service. can be defined very narrowly as the amount of money charged for a product or a service. However, the price is really more than that.

3 0
3 years ago
Read 2 more answers
a market is a market for new issues of securities. a market is a market for already existing securities.
Oksi-84 [34.3K]

Market for new issues of securities is Primary Market and Market for already-existing securities is Secondary Market.

What is Secondary Market?

Investors can acquire and sell securities they already possess on the secondary market. Although stocks are also sold on the main market when they are originally issued, it is what most people refer to as the "stock market."

Therefore,

Market for new issues of securities is Primary Market and Market for already-existing securities is Secondary Market.

To learn more about Secondary Market from the given link:

brainly.com/question/17168396

#SPJ4

3 0
1 year ago
Other questions:
  • Vaughn Manufacturing reported total manufacturing costs of $450000, manufacturing overhead totaling $98000, and direct materials
    9·1 answer
  • The overall cycle time in the buying process has been reduced due to:
    12·2 answers
  • . Unique Games, a not-for-profit entity organized to provide athletic competition opportunities for high school students, utiliz
    8·1 answer
  • Merry Maidens Cleaning generally charges $280 for a detailed cleaning of a normal-size home. However, to generate additional bus
    13·1 answer
  • __________ is the amount a business earns after deducting what it spends for salaries and other expenses.
    7·1 answer
  • In the micro supply and demand model, which of the following is true when a fully effective price ceiling is removed from a comp
    11·1 answer
  • Chao sells custom bicycles. He buys several bike parts including wheels and tires from Upright Strides, Inc. Although several go
    10·1 answer
  • Michelle is considering investing in a company's stock and is aware that the return on that investment is particularly sensitive
    5·1 answer
  • Marigold Corp. reported sales of $2200000 last year (80000 units at $20 each), when the break-even point was 44000 units. Marigo
    12·1 answer
  • Wu Company incurred $40,000 of fixed cost and $50,000 of variable cost when 4,000 units of product were made and sold. If the co
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!