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
Varvara68 [4.7K]
3 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]3 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. 
You might be interested in
A heavy snowstorm is predicted to occur in Boston on the same night as the city’s professional basketball team is playing a game
Jlenok [28]

Answer:

2

Explanation:

According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

If the price of the ticket is reduced, the quantity demanded would increase

If on the other hand, prices are increased, the quantity demanded would reduce.

3 0
3 years ago
As the manager of Margarita Mexican​ Restaurant, you must deal with a variety of business transactions. Provide an explanation f
Shalnov [3]

Answer:

A. Debit Equipment and credit Cash.

  • You purchase equipment and you pay in cash.

B. Debit Dividends and credit Cash.

  • You paid cash dividends.

C. Debit Wages Payable and credit Cash.

  • You paid wages that you owed to your employees. Generally wages are paid at the end of the week and not all months end on a weekend. So you must record wages payable until you actually pay the wages.

D. Debit Equipment and credit Common Stock.

  • You received equipment in exchange for common stock.

E. Debit Cash and credit Unearned Revenue.

  • You received cash in advance for some food that you will deliver in the future.

F. Debit Advertising Expense and credit Cash.

  • You incurred in advertising costs and you paid them in cash.

G. Debit Cash and credit Service Revenue.

  • You sold meals and your clients paid you in cash.

7 0
3 years ago
This type of networking includes developing coalitions within the organization. These relationships should be developed upwards
Mashcka [7]

Answer: Professional networking

Explanation:

 The professional networking is one of the type of networking that focus on accessing the data or information on the international level and it also maintain the relationship of the trust in an organization.

It basically include the development of effective coalitions in an organization and structure the professional goals for developing the professional network.

Therefore, Professional networking is the correct answer.

4 0
3 years ago
8. Joe Davola planned to begin saving for his retirement starting next month. Joe’s plan was to invest $450 per month, starting
gayaneshka [121]
B.81.06 because joe began saving listen to began saving
4 0
3 years ago
The economic activities that typically produce an intangible product are referred to as A. phantoms. B. goods. C. products. D. s
slava [35]

Answer:

D. services.

Explanation:

Examples of services are financial service, delivery services.

The economic activities that typically produce an tangible product are referred to as goods.

I hope my answer helps you

3 0
3 years ago
Other questions:
  • The consumer price index is used to a. monitor changes in the stock market. b. monitor changes in the level of real GDP over tim
    8·1 answer
  • Administrators of crawford county's memorial hospital are interested in identifying the various costs and expenses that are incu
    13·1 answer
  • Plum Corporation began the month of May with $1,400,000 of current assets, a current ratio of 1.90:1, and an acid-test ratio of
    7·2 answers
  • If the firm’s beta is 1.6, the risk-free rate is 9%, and the average return on the market is 13%, what will be the firm’s cost o
    8·1 answer
  • What is financial literature​
    9·1 answer
  • Dudley Transport Company divides its operations into four divisions. A recent income statement for its West Division follows. DU
    13·1 answer
  • Ecolap Inc. (ECL) recently paid a $0.46 dividend. The dividend is expected to grow at a 14.5 percent rate. At a current stock pr
    6·1 answer
  • WILL MARK BRAINLY!
    13·1 answer
  • The consequences of poor<br>mangement to the government<br>and society .​
    8·1 answer
  • g A price ceiling that is set below the equilibrium price _____ . Group of answer choices causes suppliers to lose money creates
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!