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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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3 years ago
Based on predicted production of 21,000 units, a company anticipates $357,000 of fixed costs and $309,750 of variable costs. the
Alinara [238K]
Calculate fixed cost per unit
357,000÷21,000=17 per unit
Fixed cost for 19000 units
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Calculate variable cost per unit
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So the answer is
$323,000 fixed and $280,250 variable

Hope it helps!
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3 years ago
How much does it cost to open a savings account??
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3 years ago
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<u>Solution and Explanation:</u>

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Answer:

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Explanation:

Product deletion refers to removal or discontinuance of a product from the product line when such a product has been consistently incurring losses since a number of years and it's further continuation would adversely affect the other products and profitability.

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