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8090 [49]
3 years ago
7

You are planning to make monthly deposits of $300 into a retirement account that pays 8 percent interest compounded monthly. If

your first deposit will be made one month from now, how large will your retirement account be in 25 years?

Business
1 answer:
iVinArrow [24]3 years ago
5 0

Answer:

The correct answer is $285.308.1

Explanation:

According to the scenario, computation of the given data are as follows:

Monthly payment (Pmt) = $300

Interest rate = 8%

Interest rate (monthly)  (rate) = 8% ÷ 12 = 0.666667%

Time period = 25 years

Time period (monthly) (Nper) = 25 × 12 = 300

So, we can calculate the Future value by using Financial calculator.

The attachment is attached below:

Future value = $285,308.1

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a

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For a sale, the original retail price of a particular shirt and the original retail price of a particular hat were both reduced
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Answer:

Explanation:

Given:

Discount = original price × discount fraction

Discounted price = original price - discount

Discount fraction = 20%

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A.

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B.

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= $0.8x

Discounted price of hat = $ 1.5 × x

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Crane, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, 50 range instruments a
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Requirement: <em>Determine the overhead rate for each activity "Materials handling, Machine setups, Quality inspections"</em>

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Quality inspections overhead rate = Total cost / Cost driver volume

Quality inspections overhead rate = $19,000 / 475

Quality inspections overhead rate = $40

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