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aalyn [17]
3 years ago
7

Suppose you want to have $400,000 for g retirement in 25 years. Your account earns 8% interest. How much would you need to depos

it in the account each month?
Business
1 answer:
MA_775_DIABLO [31]3 years ago
3 0

Answer:

$418

Explanation:

FV = $400,000. This is the amount you want to have in your retirement account 25 years from now

i/r = 8%/year = 0.67%/month. The interest that the account pays

n = 25 years = 25 x 12 = 300 months

PV = 0

PMT (The amount of monthly deposit required to achieve the target above. This is the missing value we need to calculate)

By using financial calculator, we obtain:

PMT = $418

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Stocks offer an expected rate of return of 10% with a standard deviation of 20% and gold offers an expected return of 5% with a
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Answer:

Yes

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8 0
3 years ago
Compute conversion costs given the following data: direct materials, $361,300; direct labor, $195,300; factory overhead, $216,70
Radda [10]

Answer:

a. $412,000

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3 years ago
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Items that are not a nesscity?

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