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den301095 [7]
3 years ago
11

A 25-year-old engineer is opening an individual retirement account (IRA) at a bank. Her goal is to accumulate $1 million in the

account by the time she retires from work in 40 years. The bank manager (a) (b) (c) (a) (b) (c) (a) (b) (a) (b) (c) (a) (b) (c) estimates she may expect to receive 6% nominal annual interest, compounded quarterly, throughout the 40 years. The engineer believes her income will increase at a 5% annual rate during her career. She wishes to start her IRA with as low a deposit as possible and increase it at a 5% rate each year. Assuming end-of-year deposits, how much should she deposit the first year
Business
1 answer:
dimaraw [331]3 years ago
8 0

Answer:

The minimum deposit will be of 3,081 and after 40 year it will get 1,000,000 dollars

Explanation:

We have to solve for the C of an annuity growing

\frac{1-(1+g)^{n}\times (1+r)^{-n} }{r - g}

g 0.05

r 0.06

C 3,081

n 40

C \frac{1-(1+0.05)^{40}\times (1+0.06)^{40} }{0.06-0.05} = 1,000,000

C \times 324.57 = 1,000,000

C = 1,000,000/ 324.57 = 3,081

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Select the scenario that best describes the recommended approach for developing team goals.
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Answer:

d. Michaela and her team create goals that balance the strengths, roles, and responsibilities of individual team members.

Explanation:

Development of team goals is most effective when the set targets are effectively being achieved by the team as a whole.

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5 0
2 years ago
Joe's Tasty Burger has determined that its production facility has a design capacity of 400 hamburgers per day. The effective ca
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Answer:

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Explanation:

Okay, so the question is to determine both the design and the effective capacity utilization measures and make a conclusion from there

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Design Capacity = 400 Hamburgers a day

Therefore Capacity Utilization = 300 hamburgers/400 hamburgers x 100

= 75%

2. The Efficiency of the production = The Actual Output / The Effective Capacity

Actual Output = 300 Hamburgers a  day

Effective Capacity = 250 hamburgers

= 300 Hamburgers/ 250 Hamburgers x 100

= 120%

Conclusion

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2 years ago
Talamoto Co. manufactures a single product that goes through two processes — mixing and cooking. The following data pertains to
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Answer:

A. 100,000 equivalent units

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First step is to calculate the Unit transferred out

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Now let calculate the Total equivalent units for Material P

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Therefore the Total equivalent units for Material P under the weighted-average method are calculated to 100,000 equivalent units

7 0
2 years ago
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