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
o-na [289]
3 years ago
5

You plan to save $370 per month starting today for the next 46 years "just to start the month off right." You feel that you can

earn an interest rate of 9.7 percent compounded monthly. How much will there be in the account 46 years from today
Business
1 answer:
qwelly [4]3 years ago
4 0

Answer:

You plan to save $370 per month starting today for the next 46 years at an interest rate of 9.7% will be <u>$791046.3155</u>

Explanation:

Rate = 9.7% / 12 = 0.808333%

Number of periods = 30 * 12 = 360

Future value = ( 1 + r) * Monthly payments * [ ( 1 + r)n - 1] / r

Future value = ( 1 + 0.00808333) * 370 * [ ( 1 + 0.00808333)360 - 1] / 0.00808333

Future value = 1.00808333 * 370 * 2,120.819723

Future value = $791046.3155

You might be interested in
The preemptive right is important to shareholders because it a. allows managers to buy additional shares below the current marke
love history [14]

Answer:

C. protects the current shareholders against a dilution of their ownership interests.

Explanation:

Preemptive rights are rights given to shareholders in an organization allowing them to buy additional shares in any future issue in order to maintain their percentage ownership, before the shares are available to the general public. It guards against dilution or decrease in a shareholders stake or ownership interest buy allowing them buy more shares for future issues before it is available for the general public to own shares. In doing so, shareholders avoid involuntary dilution.

6 0
3 years ago
Read 2 more answers
Identify whether the following paragraph uses a direct, indirect, or semi-indirect organizational pattern.
Anna007 [38]

Answer:

Correct answer is B that is <u>Indirect Organizational Pattern</u>

6 0
3 years ago
Read 2 more answers
The accounting department of your company has just delivered a draft of the current year's financial statements to you. The summ
marishachu [46]

Answer and Explanation:

The computation is shown below:-

Incorrect

ROA = Net Income ÷ Average assets

= $101,900 ÷ (($550,000 + $573,000) ÷ 2)

= $101,900 ÷ $561,500

= 0.18

ROE = Net Income ÷ Average equity

= $101,900 ÷ (($340,000 + 356,000) ÷ 2)

= $101,900 ÷ $348,000

= 0.29

Debt Ratio = Total debt ÷ Average Assets

= $217,000 ÷ (($550,000 + $573,000) ÷ 2)

= $217,000 ÷ $561,500

= 0.39

EPS = Net Income ÷ Number of Common Shares

= $101,900 ÷ 22,000

= $4.63

Correct

ROA = Net Income ÷ Average assets

= ($101,900 - $8,500) ÷ (($550,000 + $573,000 - $8,500) ÷ 2)

= $93,400 ÷ $557,250

= 0.17

ROE = Net Income ÷ Average equity

= ($101,900 - $8,500) ÷ (($340,000 + 356,000 - $8,500) ÷ 2)

= $93,400 ÷ $343,750

= 0.27

Debt Ratio = Total debt ÷ Average Assets

= $217,000 ÷ (($550,000 + $573,000 - $8,500) ÷ 2)

= $217,000 ÷ $276,500

= 0.78

EPS = Net Income ÷ Number of Common Shares

= ($101,900 - $8,500) ÷ 22,000

= $4.25

5 0
3 years ago
Why do interest rates follow the business cycle?During a recession, the demand for goods and services is lower, businesses borro
MArishka [77]

Answer:

The correct answer is letter "C": Interest rates tend rise during economic expansion and decline during recessions.

Explanation:

The expansion is the period of the economy that represents grow. Because of the prosperity atmosphere, people and businessmen request loans frequently pushing central banks and governmental entities to raise the interest rates to slow down the economy to prevent a recession. The recession itself is the period where the economy is contracted or reduced. In this case, the central banks and governmental entities decrease the interest rates to stimuli economy through loans and purchases.

6 0
3 years ago
Julia has noticed that she is receiving more and more stress from work. She is having trouble meeting her deadlines and fears sh
Furkat [3]

Work related stress is a growing problem around the globe these days that only effects the health of the employee and have effects on productivity of the business as well.  

work related stress includes fatigue, sleeplessness, depression, anxiety, problems with interpersonal relationships and discouragement at work.  

A healthy diet and exercise is a must. she should list her assigned tasks in order of priority and schedule the most difficult tasks of each day for times when fresh, such as first thing in the morning. she should not take out stress on loved ones. Instead, she should tell them about her work problems and ask for their support and suggestions. And last but not the least she should seek professional counseling from the psychologist.

4 0
3 years ago
Read 2 more answers
Other questions:
  • Our last four periods had sales, from oldest to most recent, of 100, 200, 130, and 300. what is the three-period ma
    7·1 answer
  • Frank age 63 is single and provided all of the support for his daughter Anna age 24 and her son Marvin age 6. Neither Anna nor M
    13·1 answer
  • The Engine Division provides engines for the Tractor Division of a company. The standard unit costs for the Engine Division are:
    6·1 answer
  • In two to four sentences, explain economies of scale.
    8·1 answer
  • What is the percentage change in the PV of $100 due in 1 year when the interest rate changes from 5% to 10%?
    6·1 answer
  • Please list 3 New Years Resolutions and explain why you chose these.
    14·1 answer
  • Assume there was no beginning work in process inventory and the ending work in process inventory is 70% complete with respect to
    9·1 answer
  • You are a real estate owner in Bloomington Indiana and you have rented a house to students. You expect to make 6% per year on th
    13·1 answer
  • Adkins Bakery uses the modified half-month convention to calculate depreciation expense in the year an asset is purchased or sol
    13·1 answer
  • What negative consequences can emerge when vision, mission, or values contradict strategy? Name a time where you believe strateg
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!