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zhenek [66]
3 years ago
15

You are saving for retirement. To live​ comfortably, you decide you will need to save $ 2 million by the time you are 65. Today

is your 29 th ​birthday, and you​ decide, starting today and continuing on every birthday up to and including your 65 th ​birthday, that you will put the same amount into a savings account. If the interest rate is 7 %​, how much must you set aside each year to make sure that you will have $ 2 million in the account on your 65 th ​birthday?
Business
1 answer:
djyliett [7]3 years ago
5 0

Answer:

Annual deposit= $12,473.70

Explanation:

Giving the following information:

Final value= $2,000,000

Number of years= 37

Interest rate= 7%

To calculate the annual deposit required to reach the final value. We need to use the following formula:

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

A= annual deposit

Isolating A:

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

A= {2,000,000*0.07)/ [(1.07^37) - 1]

A= $12,473.70

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Lubov Fominskaja [6]
Umm what ;-; Imao I don’t get this
7 0
3 years ago
A company started the year with $10,000 of inventory. Purchases for resale during the year were $20,000. Inventory on December 3
Monica [59]

The inventory indicates that the cost of goods sold will be $25000.

<h3>How to calculate the cost of goods sold</h3>

It should be noted that the cost of goods sold ic calculated through the formula:

= Opening inventory + Purchases - Closing inventory

= $10000 + $20000 - $5000

= $25000

Therefore, the cost of goods sold is $25000.

Learn more about inventory on:

brainly.com/question/24868116

7 0
2 years ago
Electronic Superstore's inventory increases during the year by $3.8 million, and its accounts payable to suppliers increases by
Mrrafil [7]

Answer:

$31 million

Explanation:

The computation of the amount of cash paid to suppliers of merchandise during the reporting period is shown below:

= Costs of goods sold + increase in inventory - increase in accounts payable

= $33 million + $3.8 million - $5.8 million

= $31 million

The Costs of goods sold + increase in inventory is also known as purchase of inventory

3 0
3 years ago
Discuss the unique marketing characteristics a product or service required based on the specific phase of the product life cycle
laiz [17]

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Explanation:

The product life cycle of a unique marketing can be characterized by introduction, growth, maturity and decline.

Introduction; This is viewed as an entry level into the market. Where the goods begin to gain a little recognition

Growth; this is described as a movement from introduction to a fast or slow consistent rapid growth of the product in the market.

Maturity; is described as the growth from the growth category, where the product gain some market stability and is now known by the public.

Decline; is the stage of slow and loss of recognition in the market space which could be caused by lack of creativity or consistency drop

While some products may stay in a prolonged maturity state, all products eventually phase out of the market due to several factors including saturation, increased competition, decreased demand and dropping sales

5 0
3 years ago
Ernest has just been hired and has an aptitude score of 80. What level of productivity would you expect from ernest
Stolb23 [73]
Can of confused I don’t have idea
4 0
3 years ago
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