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Gennadij [26K]
3 years ago
8

Approximately how much should be accumulated by the beginning of retirement to provide a $2,500 monthly check that will last for

25 years, during which time the fund will earn 8% interest with monthly compounding? (roound to the nearest hundred dollar). A. $261,500.00 B. $323,900.00 C. $578,700.00 D. $690,000.00 E. Cannot be determined due to other factors.
Business
1 answer:
makkiz [27]3 years ago
7 0

Answer:

B. $323,900.00

Explanation:

Nper = 300 periods

Rate = 8%/12

FV = 0    

PMT = $2500  

Amount to be Accumulated = PV(Rate,Nper,PMT,FV)

                                               = PV(8%/12,300,2500,0)

                                               = $323911.31

Therefore, The amount to be accumulated by the beginning of retirement to provide a $2,500 monthly check that will last for 25 years is $323,900 .

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Anna007 [38]

Answer:

The correct answer is letter "C": Sprint Goal, Sprint Backlog.

Explanation:

Sprint Planning is the first event where the task to be done in the course of the sprint is planned. In this meeting, the <em>Scrum Master, Product Owner, and the Developing team</em> meet. After brainstorming, the Sprint goal is set during the first half of the planning. In the second half, the Sprint backlog is created to establish the steps that will be taken in the effort of achieving the Sprint plan.

8 0
3 years ago
The auditors of Steffey Ltd., decided to study the cash receipts and disbursements for the month of July of the current year und
creativ13 [48]

Answer:

                                     Bal. June 30   Receipts    Disbursements    Bal. July 31

Balance per Bank            355,001          835,846       684,747             506,100

Deposit in Transit

June 30                              86,899         -86,899

July 31                                                       51,240                                     51,240

Outstanding Checks

June 30                               42,690                               -42,690              

July 31                                                                               73,340             73,340

Unrecorded Receipts                              -150,000                                 -150,000  

Unrecorded Disbursement                                            -150,000          -150,000

Balance per Books          399,210         650,187          565,397           484,000

3 0
3 years ago
Your birthday is next week and instead of other presents, your parents promised to give you $2,200 in cash. Since you have a par
vfiekz [6]

Answer:

Interest revenue from the CD 470.04

Explanation:

we will calcualte the future value of the CD and from there calculate the interest:

Principal \: (1+ r)^{time} = Amount

Principal 2,200.00

time 8.00 (2 years x 4 quarter per year)

rate 0.02450 (9.8% divided by 4 quarter per year)

This divisions and multiplication are done to make time and rate be express i nthe same metric.

2200 \: (1+ 0.0245)^{8} = Amount

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Now, we calculate interest revenue:

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3 0
3 years ago
Custom Engines Company has the following estimated costs for the upcoming​ year:
Lelechka [254]

Answer:

$22

Explanation:

The computation of the predetermined manufacturing overhead rate per hour is shown below:

= Total Factory overhead ÷ Estimated labor hours

where,

Total factory overhead is

= Salary of factory supervisor + Heating and lighting costs for factory + Depreciation on factory equipment

= $37,000 + $22,300 + $5,600

= $64,900

And, the machine hours is 2.900

So, the predetermined overhead rate is

= $64,900 ÷ 2,900

= $22

This is the answer but the same is not given in the options

6 0
3 years ago
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mojhsa [17]

Answer:

A. Strategic business unit

Explanation:

Strategic Business Unit

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5 0
3 years ago
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