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Varvara68 [4.7K]
2 years ago
14

Ian would like to save $2,000,000 by the time he retires in 30 years. if he believes that he can achieve a 6% rate of return, ho

w much does he need to deposit each year, starting one year from now, to achieve his goal? $12,065 $5,790 $37,500 $25,298
Business
1 answer:
klio [65]2 years ago
7 0
The future worth of the periodic payment, in this case, annual, can be calculated through the equation,

    FV = P x ((1 + r)^n - 1)/ r))

where FV is the future value, P is the periodic payment, r is the interest rate, and n is the number of years. Substituting the known values,

   2,000,000 = P x ((1 + 0.06)^30 - 1)/ 0.06))

The value of P from the equation is $25,297.82

Hence, the answer to this item is the fourth choice. 
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Explanation:

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Three categories of activities (operating, investing, and financing) generate or use the cash flow in a company. In the followin
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3 0
3 years ago
The original capital that you deposit or invest is called the
bonufazy [111]

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Read 2 more answers
The following information pertains to Lap Co.'s Palo Division for the month of April: Number of Units Cost of Materials Beginnin
Free_Kalibri [48]

Answer:

$0.44

Explanation:

Given that,

Beginning work in process = $5,500

Started in April = $18,500

Units completed = 42,500

Ending Work-in-Process = 12,500

Using the weighted-average method,

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= (Beginning work in process + Started in April) ÷ (Units completed + Ending Work-in-Process)

= ($5,500 + $18,500) ÷ (42,500 + 12,500)

= $0.44

4 0
3 years ago
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