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algol13
3 years ago
8

Taylor has a retirement account that pays 4% per year compounded monthly. Every month for 20 years, Taylor deposits $444, with t

he first deposit at the end of month 1. The day the last deposit is made, the interest rate increases to 6% per year compounded monthly. During retirement, Taylor plans to make equal monthly withdrawals for 15 years, thus depleting the account. The first withdrawal occurs one month after the last deposit. How much can be withdrawn each month?
Business
1 answer:
cupoosta [38]3 years ago
6 0

Answer:

Taylor can withdrawn 1,374.20 dollars each month

Explanation:

Timeline:

deposits of 444 for 20 years =   withdrawals of X for 15 years

   <-----/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/---\\-\-\-\-\-\-\-\-\-\-\-\->

We must calcualte amount to satisfy:

future value of his deposits = present value of his withdrawals

   

We first need to get the future value of the retirement account

and then the PMT this fund can do.

<u>deposits future value:</u>

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

C $ 444

time    240 (20 years x 12 months er year)

rate 0.003333333 ( 0.04 annual rate / 12 months = monthly rate)

444 \times \frac{(1+0.003333333)^{240} -1}{0.003333333} = FV\\

FV $162,847.9340

<u>withdrawals PMT:</u>

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

PV  $162,847.93

time 180

rate 0.005

162847.93 \div \frac{1-(1+0.005)^{-180} }{0.005} = C\\

C  $ 1,374.203

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anyanavicka [17]

Answer: $192,200

Explanation:

Based on the information that have been provided in the question, the segment margin for the domestic division will be calculated as:

Segment Margin = Segment Sales Revenue - Segment Variable Expenses - The Traceable Fixed Cost

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5 0
3 years ago
Your goal is to withdraw $25,000 in 10 years. To get the money for this withdrawal, you will make the aforementioned five equal
NikAS [45]

Answer:

the interest rate is missing, so I looked for similar questions and found that the semiannual interest rate is 3%.

first of all, we must determine the amount of money that we need to have in our account in order to be able to withdraw $25,000 in 10 years.

You will start making your semiannual deposits today and they will end in exactly 2 years, so we need to find out the present value of the $25,000 in two years:

PV = $25,000 / (1 + 3%)¹⁶ = $15,579.17

that is now the future value of our annuity due:

FV = semiannual deposit x FV annuity due factor (3%, 5 periods)

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semiannual deposit = $15,579.17 / 5.46841 = $2,848.94

7 0
3 years ago
Bok advises campus officials (and students) simply to "ignore" offensive words, flags, and so forth (para. 13). Do you agree wit
Ugo [173]

Answer: 1. I do not agree with this advice.

2. I would rather propose dialogue as a better means to resolve situations where a person feels offended by the actions of others.

Explanation:

HOW WE OUGHT TO RESPOND TO THE OFFENSIVE ACTIONS OF OTHERS

Offensive Misconducts are actions intended to hurt others, perpetrated without consideration to the feelings of others. They can be carried out in the workplace, at school, at home, and in other social settings. These acts of misconduct can come in the form of bullying, racist or sexist comments, false accusations, physical attacks, threats, etc.

When faced with offensive misconduct, silence is not the best approach. Silence means consent and offensive misconduct are not meant to be condoned. They should rather be addressed using appropriate conflict resolution skills.

One such very important skill is dialogue. Dialogue is an approach that seeks to discuss the matter with the offender. The offended does not take on an offensive approach. He rather explains how the action affects him. He asks vital questions about the intentions of the offender. It might well be that the action might not have been aimed at being offensive. When addressing this issue, it is also important that an attitude of calmness be maintained by the person seeking to resolve the conflict.

Active listening should also be maintained when the other party is trying to explain himself. This would help the offended understand the viewpoint of the offender.

When a person who feels offended continues to ignore an offensive action, this might make him start nursing resentment, which might further lead to retaliatory actions. That is why it is very important to address offensive actions immediately instead of condoning them.

After taking the necessary actions, if the offender persists in his actions, the matter should be reported to an authority.

7 0
3 years ago
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Explanation:.

4 0
2 years ago
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Artyom0805 [142]

Answer:

Journal Entry

Explanation:

The Journal Entry is shown below:-

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(Being cash sales, cash short and over is recorded)

Therefore, to record cash sales, cash short and over we debited cash and cash short and over while credited sales.

5 0
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