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
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 .

You might be interested in
Gallonte Inc. began operations in April of this year. It makes all sales on account, subject to the following collection pattern
mario62 [17]

Answer:

Total cash collection May= $60,000

Explanation:

Giving the following information:

Cash collection:

30% are collected in the month of sale

60% are collected in the first month after sale

10% are collected in the second month after sale.

Sales:

April= $60,000

May= $80,000

<u>We need to calculate the cash collection for May:</u>

Cash collection:

Sales in cash May= (80,000*0.3)= 24,000

Sales in account from April= (60,000*0.6)= 36,000

Total cash collection May= $60,000

7 0
3 years ago
Bob has a face-to-face interview tomorrow morning. he has done his research and knows a lot about the prospective employer. he w
Genrish500 [490]

Dressing to impress for interviews would typically involve wearing professional dress in order to look smart and presentable.

<h2>Bob has to follow some of the listed tips (not exhaustive) in addition to the due diligence he has done about his employer. </h2>

Some of the options he has would include:

  • A suit, jacket and tie
  • A semi-formal trousers and a shirt
  • Sweater and necktie.

Dressing properly for interviews would put Bob in a better light as it shows he is serious about the job. It also shows he is interested in the position, and finally demonstrates an understanding of the company's corporate culture.

Learn more about #interviews and #dress codes here: brainly.com/question/15128068?referrer=searchResults

4 0
2 years ago
A hairdryer manufacturer produced a new model that could dry a person's hair in under five minutes. When customers used this hai
skad [1K]

Answer: Fairness and Honesty

Explanation:

Fairness and honesty are vital to every business ethics and it related to thee general values of the decision makers. Firms are expected to follow applicable laws and regulations and are expected not to cause harm or injury to employees, customers, clients, or competitors through coercion, deception,misrepresentation, or discrimination.

False and misleading advertising can lead to business failure, hence, Truthfulness about a produt's safety and its quality are also vital to consumers.

8 0
3 years ago
Hormel offers its food distributors a discount of 15 percent for payment within 10 days on orders of all Jiffy brand products. H
Feliz [49]

Hormel is giving its customers a cash discount.

<h3>What is cash discount?</h3>

Cash discount is the discount a seller give to a buyer by reducing the amount the buyer was supposed to pay because the buyer make his payment earlier.

Based on the given scenario Hormel offers is offering its  food distributors a discount of 15 percent if the distributor paid within the stipulated time or period of  10 days.

Inconclusion Hormel is giving its customers a cash discount.

Learn more about cash discount here:brainly.com/question/14883253

4 0
2 years ago
Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,800 units (solar panels) in July a
azamat

Answer and Explanation:

The preparation of the factory overhead budget for August month is shown below:

Total budgeted direct labor  $286,000

(5,500 × 4 hours × $13)  

variable factory overhead 70%

Budgeted overhead  $200,200 ($286,000 × 70%)

Add: Fixed overhead $179,000

Budgeted total factory overhead $379,200

Hence, the budgeted total factory overhead is $379,200

4 0
3 years ago
Other questions:
  • The Gingham Company's budgeted income statement reflects the following amounts:
    10·1 answer
  • California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $35 per share. Later in the year, the compa
    5·1 answer
  • The legal concept of limited use permits limited duplication and use of a portion of copyrighted material for certain purposes,
    10·1 answer
  • Jasmine is looking at career options for her future. She would like to be able to rent a house and live in a city near her famil
    7·1 answer
  • These are the last questions of my test PLEASE help i will give brainliest i need to get it done 10 minute!!!
    8·1 answer
  • a granary allocates the cost of unprocessed wheat to the production of feed flour and starch 100000. how much of the 120000 cost
    7·1 answer
  • Consider how health insurance affects the quantity of healthcare services performed. Suppose that the typical medical procedure
    15·1 answer
  • A(n) _____ projects the types and amounts of assets a firm will require to carry out its future plans and forecasts the amount o
    5·1 answer
  • 15) keeping a product generic as long as possible before customizing is known as:__________
    8·1 answer
  • there is a technological improvement in the production of good x. as a result, the curve for good x will shift resulting in a(n)
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!