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xxMikexx [17]
3 years ago
12

You are planning to retire 40 years from now. If your retirement account pays an annual rate of 6% compounded monthly and you st

art making a monthly contribution of $400 a month today, how much will you have when you retire in 40 years
Business
1 answer:
fredd [130]3 years ago
4 0

Answer:

  $800,579.28

Explanation:

The sum of the monthly payments can be found by the "annuity due" formula:

  A = P(1 +n/r)((1 +r/n)^(nt)-1)

where P is the monthly deposit, r is the annual interest rate, n is the number of times per year it is compounded, and t is the number of years.

For this problem, we have ...

  A = $400(1 +12/.06)(1(1 +.06/12)^(12·40)-1) = $400(201)(1 -1.005^480 -1)

  A = $800,579.28

The account balance after 40 years will be $800,579.28.

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Gamapro, a company that manufactures gaming devices, has launched a new gaming console along with a new set of games for the new
Lubov Fominskaja [6]

Answer: Generational gap or change

Explanation:

A generational gap also known as generational change is known as or referred to as the difference of thoughts and opinions in between generations , especially in regards to politics, beliefs, or the values. In today's era the usage of this term often or usually refers to the perceived gap in between the younger individuals and their parents or their grandparents.

5 0
4 years ago
Approximately __________ of trades involving shares issued by firms listed on the New York Stock Exchange actually take place on
lianna [129]

Answer:

The correct answer is letter "B": 75%.

Explanation:

The New York Stock Exchange (<em>NYSE</em>) is the largest, oldest and best-known stock exchange in the world. A stock exchange is a regulated auction market where stocks, bonds, and other securities are bought and sold. The total value of all outstanding shares of the NYSE listed companies is unmatched. Its listings feature some of the world's largest and best-known corporations.

Almost 1,5 billion shares (<em>around 75% of the total market transactions</em>) are traded in the NYSE every day.

5 0
3 years ago
The ratio of shareholders funds to total assets of the company is called?​
mario62 [17]

Answer:

share holder equity

Explanation:

it indicates how much of company's assets have been generated

3 0
3 years ago
Beyonce' has a rectangular flower garden that is 45 feet long and 15 feet wide. One truck load of mulch can cover 45 square feet
Naya [18.7K]

Answer: 15

Explanation:

Length of garden = 45 feet

Width of garden = 15 feet

One truckload covers 45 square feet

How may truck load will cover the entire garden.

Area of rectangle = Length × width

Area of rectangular garden = 45 × 15

Area of rectangular garden = 675 square feet

1 truckload of mulch = 45 square feet

y = 675 square feet

45y = 675

y = 675 ÷ 45

y = 15 truck loads of mulch

15 truckloads of mulch will cover the entire garden

8 0
4 years ago
In the short run, if average variable cost equals $50, average total cost equals $75, and output equals 100, the total fixed cos
musickatia [10]

Answer: $2500

Explanation:

From the question,

Average variable cost(AVC) = $50

Average total cost (ATC) = $75

Output (Q) = 100

Since Average fixed cost is the difference between the average total cost and the average Variable cost. This will be:

AFC = ATC - AVC

AFC = $75 - $50

AFC = $25

We should note that:

AFC = TFC / Q

TFC = AFC × Q

TFC = $25 × 100

TFC = $2500

Therefore, total fixed cost is $2500

5 0
3 years ago
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