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MrRissso [65]
3 years ago
8

g Twins Jane and Hal each inherited $150,000 exactly ten years ago. Jane invested the entire amount in a brokerage account to fu

nd her retirement. Her account has been earning 8% per year since she invested it, and she expects it to earn 5% per year for the next 20 years. Hal spent all of his inheritance and has not saved anything for retirement. Assume there are no taxes. a. How much is Jane expected to have in her account at retirement (20 years from now)? b. Due to sibling rivalry, Hal wants to have at least $100,000 more saved at retirement (20 years from now) than Jane is expected to have at that time. He plans to make an equal deposit each year in an account earning the same annual interest rate as Jane’s, i.e., 5%, with the first deposit occurring one year from today and the last occurring 20 years from today. How much must Hal deposit each year in order to achieve his goal?
Business
1 answer:
zepelin [54]3 years ago
6 0

Answer:

a) Jane currently has $150,000 x (1 + 8%)¹⁰ = $323,838.75 in her account

in 20 years, she will have $323,838.75 x (1 + 5%)²⁰ = $859,240.61

b) we can use the future value of an annuity formula to calculate Hal's annual contribution.

future value = annual contribution x annuity factor

annual contribution = future value / annuity factor

  • future value = $959,240.61
  • FV annuity factor, 5%, 20 periods = 33.066

annual contribution = $959,240.61 / 33.066 = $29,009.88

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Say, 3 customers enter a store. On the basis of past experience, the store manager estimates the probability that any one custom
vaieri [72.5K]

The probability that two of the next three customers will make a purchaseis mathematically given as

P(1) =0.441

<h3>What is the probability that two of the next three customers will make a purchase?</h3>

Generally, the equation for Probablity is  mathematically given as

A)

P(1) = 3 C 1 (0.3)^1 (0.7)^2

P(1) =0.441

B)

n=1000

E (x) =np = 1000x0.3

E (x) =3.00

C)

Variance= mpq

Variance= 300 x0.7

Variance= 210

In conclusion,

P(1) =0.441

E (x) =3.00

Variance= 210

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4 0
2 years ago
How can quality control affect production?
leva [86]

Answer: Quality Assurance with Quality Control

Quality assurance streamlines production and helps to ensure that the final products meet the company's quality criteria. It ensures that the processes used to design, test, and produce products will be done correctly.

Explanation:

Hope it helps

3 0
3 years ago
Myrna and Geoffrey filed a joint tax return in 2018. Their AGI was $85,000, and itemized deductions were $24,700, which included
KIM [24]

Answer:

$700

Explanation:

to calculate the amount of state income tax refund that must be included in the 2019 tax return we can use the following equation:

state income tax refund included in gross income = itemized deduction - standard deduction = $24,700 - $24,000 = $700

the rest of the refund = $1,800 - $700 = $1,100, should not be included in the 2019 gross income

6 0
3 years ago
A firm has net working capital of $350. long-term debt is $600, total assets are $950 and fixed assets are $400. what is the amo
AnnyKZ [126]
800 is the total liabilities

5 0
3 years ago
Granger Company had January 1 inventory of $150,000 when it adopted dollar-value LIFO. During the year, purchases were $900,000
Lisa [10]

Answer:

$624, 750

Explanation:

Purchases = 900,000

Sales = 1500000

Price index = 110%

Inventory= 189750

1,500,000 - [{($150,000 x 110%) + $900,000} - $189,750]

=1,500,000 - [($150,000 x 1.1) + $900,000] - $189,750

= 1,500,000 - (1065000 - 189750)

= 1,500,000 - 875250

=$624,750

Gross profit. = $624750

5 0
3 years ago
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