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
natta225 [31]
3 years ago
5

You are planning your retirement in 15 years. You plan to retire with $3,000,000 and your retirement account earns 4.8% compound

ed monthly. After you retire, you plan on withdrawing $15,000 per month from your account until you have nothing left. How many years can you live off your retirement account after you retire?
Business
1 answer:
Maslowich3 years ago
6 0

Answer:

The retirement fund will last for 33 years and 7 months

Explanation:

We need to solve for time in an ordinary annuity

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C  $15,000.00

rate 0.004 (4.8% divide by 12 month)

PV $3,000,000

time n

15,000 \times \frac{1-(1+0.004)^{-n} }{0.004} = 3,000,000\\

we clear for n as much as we can and solve

(1+0.004)^{-n}= 1-\frac{3,000,000\times0.004}{15,000}

(1+0.004)^{-n}= 0.20

now we use logarithmic properties to solve for n:

-n= \frac{log0.2}{log(1+0.004)

-403.16  

this will be a value in months so we divide by 12 to get it annually

403/12 = 33,5833

we convert the residual to months:

0.5833 x 12 = 6.996 = 7 months

You might be interested in
:
Olenka [21]

Answer:

hope this helps

Explanation:

organizing

4 0
3 years ago
High-pressure systems typically form over the atlantic ocean during the summer. if such systems did not form as often, _______ w
Degger [83]
The answer to this question is: <span> South Carolina; drier
</span> Circulation of surface wind and ocean water is run against clock direction in the Northern Hemisphere and the <span>Surface currents generally move outward from system's center
</span><span>This will reduce the air masses in the southern hemisphere and make that region become drier.</span>
7 0
4 years ago
Han Products manufactures 22,000 units of part S-6 each year for use on its production line. At this level of activity, the cost
balu736 [363]

Answer:

Profit decrease = $6,000

Explanation:

As per the data given in the question,

a)

Calculation for buying and making product :

Particulars                Per unit Differential cost           22,000 units

                                    Make          Buy                             Make         Buy

Cost of buying                            $44.50                                         $979,000

Cost of making :

Direct material           $5.60                                          $123,000

Direct labor              $6.00                                           $132,000

Variable manufacturing

overhead                  $3.6                                              $79,200

Fixed manufacturing

overhead                  $4                                               $88,000

                          ($12 × 1 ÷ 4)

Opportunity cost                                                          $551,600

Total cost                $19.2    $44.50                             $973,800  $979,000

b) As we can see that the Profit is decrease by $6,000 in case of outside supplier offer accepted  by taking the difference between the making and buying cost i.e

=  $979,000-$973,800

= $6,000

5 0
3 years ago
Most middlemen have little loyalty to their vendors. They handle brands in good times when the line is making money but quickly
kolbaska11 [484]

Answer:

B. Continuity

Explanation:

Rejection of a product by middlemen if they failing to produce within a year or season is one of the problems of continuity in channel strategy.

There are 6 C's of channel strategy. They are

1. Cost: This is the cost of developing and maintaining the channel.

2. Capital Requirement: This is the the investment required when a firm established its own sales force.

3. Control: This is the firms involvement in distribution. The more a firm get involved in distribution, the more control they have.

4. Coverage: This is the geographical location covered by a firm.

5.Character: This is the process of selecting a channel of distribution that best suits the character and product produced by a firm.

6. Continuity: This is the problem of middlemen continuing distribution when the firm moves out line.

3 0
3 years ago
In product development, what are "specifications"?
Ivanshal [37]
I think the answer to this question is B
4 0
4 years ago
Read 2 more answers
Other questions:
  • Katrina's fury has $697,400 in sales. the profit margin is 3.4 percent and the firm has 12,500 shares of stock outstanding. the
    10·1 answer
  • On January 1, Year 1, Grade Company paid $300,000 for 20,000 shares of Medium Company's common stock, which represents a 15% inv
    12·1 answer
  • Jack and jill have just had their first child. if college is expected to cost ​$180 comma 000180,000 per year in 1818 ​years, ho
    10·1 answer
  • Persuading or convincing others to accept your argument means the reasoning must be logical. Which of the following is an exampl
    7·1 answer
  • Can someone sell a car that is not registered to their name
    10·1 answer
  • Craft Inc.'s Krayons is a multi-color chalk material that was released in the market over a century ago. Since the release, the
    10·1 answer
  • The four determinants in Porter's model of international competitive advantage include all of the following EXCEPT: Group of ans
    10·1 answer
  • CORRECT PENN FOSTER ANSWER ONLY PLEASE ANSWER ASAP
    14·1 answer
  • Prompt<br> What does the human resources department of a company do?
    9·1 answer
  • A 7-year, $1,000 par bond has an 8% annual coupon and is currently yielding 7.5%. The bond can be called in 3 years at a call pr
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!