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Lesechka [4]
3 years ago
10

Suppose a​ 40-year-old person deposits ​$12 comma 00012,000 per year in an Individual Retirement Account until age 65. Find the

total in the account with the following assumption of an interest rate.​ (Assume quarterly​ compounding, with payments of ​$3 comma 0003,000 made at the end of each quarter​ period.) Find the total amount of interest earned. 55​%
Business
1 answer:
tatiyna3 years ago
8 0

Answer:  interest earned = $8942372340

$8942672340 this is amount after 25 years.

Explanation:

formula used:    S= R*[ (1+<em>i </em>)ⁿ-1 / <em>i </em>]

where:

S is future value

R is periodic payment

<em>i </em> is interest rate period

n is number of periods

R= $3000

n= 65-40=25   now 25*4=100   QUARTERLY that is why we used 4

<em>i </em>= 55% which is equal to 0.55

so, for quarterly <em>i= </em>0.55/4= 0.138

now putting them in formula given above

S= 3000*[ (1+0.138)¹⁰⁰-1] / 0.138

S= $8942672340 (future value )

total money deposited = number of period * periodic amount

                                        = $3000*100 = $300,000

interest earned = future value - total money deposited

                           = 8942672340 - 300,000

 interest earned = $8942372340

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Kobotan [32]

The true statement that we can see about the non exempt employees is that nonexempt employees are covered by flsa and include most hourly workers.

<h3>What is meant by non exempt employees?</h3>

Employees who are not excluded from pay have a right to the minimum wage and overtime compensation if they put in more than 40 hours per week.

For each hour over 40 in a workweek, businesses are required by the FLSA to pay non-exempt workers no less than time and a half their usual wage rate. If a non-exempt worker isn't paid hourly, one can determine their hourly rate by dividing their total earnings by the number of hours they worked. When making these calculations, vacation, holidays, and sick days shouldn't be taken into account unless the person really worked on those days.

Employers shouldn't presume that just because a worker receives a pay, they can be lawfully regarded as exempt under the FLSA. Employees may be entitled to overtime compensation if they don't pass an acceptable duties test, make less than $684 per week or $35,568 per year, or have certain deductions made from their pay.

Read more on non exempt workers here: brainly.com/question/28136801

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3 0
1 year ago
Jamal purchased a motorcycle from Getaway Automobiles, and the motorcycle's electric starter began malfunctioning after a week o
BartSMP [9]

Answer:

Option B, Jamal is entitled to revoke acceptance because he took back the motorcycle after the seller's assurance that the nonconformity would be cured.

Explanation:

The primary purpose of purchasing goods is to obtain conforming goods of the desired quality. Occasionally, the seller delivers non-conforming goods, goods that fail to meet the contractual obligation (obligations include: seller's description, statements promises...). In situations like this the buyer may revoke his acceptance if already accepted or reject the delivery upon discovery.

If delivery is already accepted, acceptance may be revoked;

* On the reasonable grounds that its non-conformity would be cured and it has not be cured.

* Without discovery of such non-conformity if his acceptance was reasonably induced either by the difficulty of delivery before acceptance or by the seller's assurances.

Therefore, option B best suits the question. Under these circumstances, Jamal is entitled to revoke his acceptance because the he took back the motorcycle after the seller's assurance that the non-conformity would be cured which was not, even after several complaints.

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earnstyle [38]

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Explanation:

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The sunk cost would be the $20 ticket to the match.

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