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
11111nata11111 [884]
4 years ago
9

Mr. Baxter IV, would like to retire in 26 years. He would like to accumulate $1,500,000 at the time of retirement to live a cont

ented life. He would like set aside equal amount each month to achieve his goal. What is the monthly amount he should save if he can invest them at an interest rate of 11.1% [Annual rate]. [Assume monthly compounding]
Business
1 answer:
Vinvika [58]4 years ago
6 0

Answer:

Monthly deposit=  $840.74

Explanation:

Giving the following information:

Number of periods= 26*12= 312 months

Future Value= $1,500,000

Interste rate= 0.11/12= 0.0092

<u>To calculate the monthly deposit, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (1,500,000*0.0092) / [(1.0092^312) - 1]

A= $840.74

You might be interested in
Maya is concerned about her credit problems and is worried
ElenaW [278]

Answer:

C!

Explanation:

3 0
3 years ago
List out 15 trainings conducted by FNCCI​
Andrej [43]
1 Disciplinary Action & Termination of Employment August 23, 2015 August 23, 2015
2 Human Resource Management in Current Perspective September 22, 2014 September 23, 2014
3 Disciplinary Action & Termination of Employment March 09, 2014 March 09, 2014
4 Misconduct & Disciplinary Action September 22, 2013 September 22, 2013
5 Hiring and Termination Practice in Denmark August 30, 2013 August 30, 2013
6 Information sharing on "Hiring and Termination Practice in Denmark". May 31, 2013 May 31, 2013
7 Designing Human Resource Systems November 04, 2012 November 05, 2012
8 Marketing Skills Training July 19, 2012 July 20, 2012
9 Training on Negotiation Skills December 29, 2011 December 30, 2011
10 Enhancing Supervisory and Leadership Skills - - (sorry that’s all I got) :(
5 0
3 years ago
Nicholas, Inc. has provided the following unit data for review: Simple ProductAdvanced Product Selling price$22.75$55.00 Variabl
Margarita [4]

The most profitable product for Nicholas, Inc. to manufacture based on unit data and contribution margin per unit of a scarce resource is <u>Advanced Product.</u>

<h3>What is a profitable product?</h3>

A profitable product is one whose sales revenue covers the costs of production, selling, and administrative support.

A profitable product can be determined by determining the contribution margin per unit and dividing this by the units of a scarce resource that it consumes.  The result is the contribution margin per unit of the scarce resource.

Thus, the product that yields the higher contribution margin per unit of a scarce resource is preferable to the rest.

<h3>Data and Calculations:</h3>

                                                    Simple Product     Advanced Product

Selling price                                          $22.75                      $55.00

Variable cost                                           10.00                         34.50

Contribution margin per unit               $12.75                       $20.50

Pounds of scarce raw material per unit   35                           35

Contribution margin per scare resource $0.364                 $0.586

Thus, the most profitable product for Nicholas, Inc. to manufacture based on the given unit data and the contribution margin per unit of a scarce resource is the Advanced Product.

Learn more about contribution margin per unit of scarce resource at brainly.com/question/15550773

6 0
2 years ago
The introduction of automatic elevator equipment allowed firms to handle the movement of people in a multistory building at less
ad-work [718]

Answer:

The marginal product of automatic elevator equipment divided by its price was greater than that for elevator operators

Explanation:

Since in the question, it is mentioned that the automatic elevator introduction permit the firms to handle the movement of the people at least cost also it declines the demand for the operators of the elevator

This represents that the marginal product of elevator equipment would be divided by price and also it is more than for operators who are dealing in elevators

5 0
4 years ago
An executive committee of a company includes one CEO, one General Manager, 3 Assistant General Managers, and 4 Executive Manager
Vesna [10]

Answer:

A decision will be taken based on unanimous consensus which should be a fall out of constructive considerations of all the possible angles.

Explanation:

Under usual circumstances, the executive committee should comprise of the chairperson, vice-chairperson, secretary, and treasurer.

This, however, depends on the organization's corporate governance rules.

Decision making at the executive level in healthy organisations is not made based on one's ability to wield power or by the person or persons who wield the most authority.

The best decisions are those which uphold the highest logic. They should be taken regardless of who has suggested it for this is the attribute of superior minds - the ability to submit to a higher logic or solution regardless of its source.        

   

Cheers

4 0
4 years ago
Other questions:
  • This warrant is based on probable cause that can articulate that an officer believes that evidence of a crime will be located at
    10·1 answer
  • Hillsong Inc. manufactures snowsuits. Hillsong is considering purchasing a new sewing machine at a cost of $2.45 million. Its ex
    9·1 answer
  • ______ includes websites that encourage interaction and connection among people, businesses, and organizations.​
    6·1 answer
  • Malco Enterprises issued $14,000 of common stock when the company was started. In addition, Malco borrowed $44,000 from a local
    9·1 answer
  • A company uses a periodic inventory system. The company had beginning inventory of 3 units that cost $5 each. During the month,
    15·1 answer
  • Which of the following has the lowest housing prices and the smallest population density
    5·2 answers
  • Mae manages delivery at a custom-kitchen outlet. Working with her customer's specifications, she contacts Gem Cabinets and place
    8·1 answer
  • The percentage of decrease in the average price of the economy’s goods and services is known as the __________.
    8·1 answer
  • Fairfield Company’s raw materials inventory transactions for the most recent month are summarized here: Beginning raw materials
    10·1 answer
  • hardware is adding a new product line that will require an investment of 1,530,000. managers estimate that this investment will
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!