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dlinn [17]
3 years ago
9

2. Sorry, you didn't win the lottery, but here's a way you can still be a millionaire! Starting at age 22, every night you take

$5 out of your pocket and put it in a manila
envelope (title it "Lottery Winnings"). At the end of the year, you place the money from the envelope in a stock fund with an average interest rate of 10%.
• How much will you have in the account when you retire at age 65?
. What would be different if you started this plan later in your life?​
Business
1 answer:
Colt1911 [192]3 years ago
8 0

Answer: At the age of 65 the money will be $90337.5

Explanation: There are 365 days in a year take $5 multiply it by 365 to get the money after one year then multiply it by 10 % to get an interest per year. Add the interest to the amount then multiply by 43 years.

Note 65years-22 years = 43 years

$5×365= $1825

$1825×10%=$182.5

=$182.5+$1825=$2007.5/year

$2007.5×43= $90337.5

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The lowest school dropout rate in the united states in 2008 occurred for:
Ne4ueva [31]
The status dropout rates measures the percentage of individuals who are not enrolled in a certain class or who does not have any school credentials. In the U.S by the year 2008  there was approximately 3.0 million drop out at ages 16 through 24 years old, all were living in United States. 
6 0
2 years ago
What percentage of businesses in America are home businesses?
Sladkaya [172]

Answer:

c

Explanation:

most are home businesses you can write off many things on taxes and have less overhead (bills and rent )

6 0
3 years ago
The chapter identifies three governing mechanisms for strategic alliances: non-equity, equity, and joint venture. List the benef
Paul [167]

A strategic alliance is an arrangement between two companies to undertake a mutually beneficial project while each retains its independence.

The agreement is less complex and less binding than a joint venture, in which two businesses pool resources to create a separate business entity.

<h3>What is Joint Venture?</h3>

A joint venture is a child company of two parent companies.

It’s maintained by sharing resources and equity with a binding agreement. Whether it’s formed for a specific purpose or an ongoing strategy, a joint venture has a clear objective, and profits are split between the two companies.

<h3>What is Non – Equity Strategic Alliance?</h3>

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3 0
2 years ago
DelRay Foods must purchase a new gumdrop machine. Two machines are available. Machine 7745 has a first cost of $8,000, an estima
Monica [59]

Answer:

I would recommend Machine 7745

Explanation:

Machine 7745

initial outlay = $8,000

operational costs per year = $300

depreciation cost per year = $700

salvage value (at year 10) = $1,000

total costs per year (1 - 9) = $1,000

total costs year 10 = $0

using an excel spreadsheet, the IRR = 2%. Since you are analyzing costs only, not incremental revenue, then you must select the project with the lowest IRR.

 

Machine A37Y

initial outlay = $8,000

operational costs per year = $260

depreciation cost per year = $800

total costs per year (1 - 10) = $1,060

using an excel spreadsheet, the IRR = 4%

 

5 0
3 years ago
A company had a beginning balance in retained earnings of $44,800. It had net income of $7,800 and declared and paid cash divide
Olenka [21]

Answer:

$46,525

Explanation:

Formula for ending retained earnings is as follows;

<em>Ending retained earnings = Beginning retained earnings + Net income -  cash dividend</em>

Beg. RE = 44,800

Net income = 7,800

Cash dividends = 6,075

Plug in the values to the above formula;

Ending retained earnings = 44,800 + 7,800 - 6.075

Ending RE  balance would be = $46,525

7 0
3 years ago
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