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abruzzese [7]
2 years ago
9

Susan has a 401k plan through her job and has accumulated $375,000 in her account. Her company has invested her funts in a high

interest bearing account yielding 8% per year. She would like to retire with $600,000 in her account. When will she be able to retire?
Business
1 answer:
Fofino [41]2 years ago
5 0

Answer:

6.1 years

Explanation:

Data provided in the question:

Principle amount = $375,000

Interest rate, r = 8% = 0.08

Future value = $600,000

Now,

Using the compounding formula

Future value = Principle × [ 1 + r ]ⁿ

Here,

n is the time

thus,

$600,000 = $375,000 × [ 1 + 0.08 ]ⁿ

or

1.6 = 1.08ⁿ

taking log both the sides, we have

n × ln(1.08) = ln(1.6)

or

n = 6.1 years

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anzhelika [568]

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6 0
1 year ago
At what value should the land be recorded in clementine repair service records?
adell [148]

Answer: $369,500

Explanation:

The Cost concept of accounting calls for the recording of Assets at their cost.

Clementine Repair services offered to buy the land at $350,500 when it was priced at $388,500.

The seller countered with $369,500 and Clementine accepted this.

This means that Clementine bought the land for $369,500 which makes it the cost price.

They should therefore record it at $369,500.

6 0
3 years ago
The cooperative organization of work into specialized tasks and roles is the?
hoa [83]

The cooperative organization of work into specialized tasks and roles is the Division of labor.

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The division of labor increases production and efficiency by dividing the individual tasks of creating objects among different people. This simplifies the work that each person has to do.

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7 0
1 year ago
The cost for a carton of milk is $3, and it is sold for $5. When the milk expires, it is thrown out. You also know that the mean
svetlana [45]

Answer:

a) $3

b) $2

c) 1449

Explanation:

Given:

The cost for a carton of milk = $3

Selling price for a carton of milk = $5

Salvage value = $0        [since When the milk expires, it is thrown out ]3

Mean of historical monthly demand = 1,500

Standard deviation = 200

Now,

a) cost of overstocking = Cost  for a carton of milk - Salvage value

= $3 - $0

= $3

cost of under-stocking = Selling price - cost for a carton of milk

= $5 - $3

= $2

b)  critical ratio = \frac{\textup{cost of under-stocking }}{\textup{cost of overstocking + cost of under-stocking }}

or

critical ratio = \frac{\textup{2}}{\textup{3 + 2}}

or

critical ratio = 0.4

c) optimal quantity of milk cartons = Mean + ( z × standard deviation )

here, z is the z-score for the critical ration of 0.4

we know

z-score(0.4) = -0.253

thus,

optimal quantity of milk cartons = 1,500 + ( -0.253 × 200 )

= 1500 - 50.6

= 1449.4 ≈ 1449 units

4 0
3 years ago
1. The "four Ms" of cause-and-effect diagrams are:______.
dolphi86 [110]

Answer:

1. C.  c. material, machinery/equipment, manpower, and methods.

2. E. All are correct

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1. The cause-and-effect diagram also known as the Ishikawa diagram is used by organizations to find out the likely causes of unwanted problems. This diagram traces the roots of problems and helps managers discover the potential causes of these problems. The four M's that form the bone of the diagram to which other causes are traced include the;

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b. machinery/equipment, which is about the plant and likely problems that can arise from their use.

c. manpower, which is about the personnel used in the production process, and,

d. methods, which is about the systems adopted by the organization.

2. A systematic approach to capacity decisions include;

a. Estimation of capacity requirements

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c. Develop alternative plans and methods that would help to reduce the gaps.

d. Evaluate the alternatives taking into consideration their qualitative and quantitative attributes.

3 0
3 years ago
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