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Ber [7]
3 years ago
15

A woman is planning to retire in 30 years. She wishes to deposit a regular amount every three months until she retires, so that

beginning one year after retirement she will receive annual payments of $40,000 for the next 20 years. How much must be deposited every three months if the interest rate is 8%, compounded quarterly
Business
1 answer:
IRINA_888 [86]3 years ago
7 0

Answer:

The quarterly deposit required is $980.69

Explanation:

Giving the following information:

I will assume that the retirement age is 65 years.

First, we need to calculate the future value required one year after retirement.

FV= 40,000*20= $800,000

Number of years= 66 - 30= 36 years*4= 144

Interest rate= 0.08/4= 0.02

Now, to calculate the quarterly deposit required, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= quarterly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (800,000*0.02) / [(1.02^144)-1]

A= $980.69

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3 years ago
Tyler has been operating his business as a sole proprietorship but decides that it is too much work for him to do alone. He does
svp [43]

Answer:

business partner

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Business partner -

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3 years ago
A creamery shop sells its special ice cream for $4.50 a quart. It costs them $3.00 a quart to make it. The daily demand for this
jenyasd209 [6]

Answer and Explanation:

The computation of the service level and the corresponding optimal stocking level is shown below:

Given that

Selling price = SP = $4.50

Cost price = CP  = $3.00

So,

Salvage value =  V  = $1.50

Average daily demand (d) = 35 quarts

The  standard deviation of daily demand  = 4 quarts

based on the above information

Overage cost = (Co) is

= CP - V

= $3.00 - $1.50

= $1.50

Now

Underage cost= (Cu)

= SP - CP

= $4.50 - $3.00

= $1.50

So,  

Service level is

= Cu ÷ (Co + Cu)

= 1.50 ÷ (1.50 + 1.50)

= 1.50 ÷ 3.00

= 0.50

= 50%

Now

At 50 % service level, the value of Z is 0

So,

Optimal stocking level is

= d + Z × standard deviation

= 35 + (0  × 4)

= 35 + 0  

= 35 quarts

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3 years ago
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