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andreev551 [17]
3 years ago
14

Suppose you put $800 per month into a Roth IRA, that pays 8% APR (compounded monthly). Assume you have nothing saved today, calc

ulate the future value of the retirement account 30 years from today. (Enter a positive value and round to 2 decimals)
Business
2 answers:
Olegator [25]3 years ago
7 0

Answer:

Future Value = $1,192,287.56

Explanation:

<em>The future value is the expected total sum that an investment is suppose to accumulate together with interest over a period of time at a particular interest rate.</em>

Where compounding is done done monthly, he future value is determined as follows:

FV = PV ×( (1+r)^n -1 )/ r

FV - Future Value , PV - present value  r- monthly rate of interest ,  n- number of months

FV - ?  

r- 8%/12 = 0.66%

n - 30× 12 =

PV - 800

FV = 800 × ( (1.00666)^(360) - 1 )/ 00666

    = 800 ×  1490.359449

    =  $1,192,287.56

mestny [16]3 years ago
3 0

Answer:

$1192288

Explanation:

See attached file

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alekssr [168]

Answer:

C

Explanation:

Trade off can be expressed in terms of opportunity cost.

Opportunity cost or implicit is the cost of the option forgone when one alternative is chosen over other alternatives.

Kyoko has limited time so she has to choose between three activities. If she chooses one sport, she would not be able to partake in the other activities. So, she is trading off biking or running for swimming.

Trade off occurs because resources are limited and wants are unlimited.

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Kimbeth Manufacturing uses process costing to control costs in the manufacture of Dust Sensors for the mining industry. The foll
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Answer:

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Explanation:

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DM Cost per Equivalent unit: 4.25

7 0
3 years ago
Biloxi Gifts uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general jou
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<u>Solution and Explanation:</u>

<u>The following journal entries are passed in the books of accounts.</u>

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3 0
3 years ago
Amanda invested a total of ​$3 comma 100 into three separate accounts that pay 4 %​, 6 % and 7 % annual interest. Amanda has thr
ludmilkaskok [199]

Answer:

the amount invested at 4% interest is $5,00

the amount invested at 6% interest is $1,100

the amount invested at 7% interest is $1,500

Explanation:

Data provided in the question:

Total amount invested = $3,100

Interest rates : 4%​, 6 % and 7 %

Total interest = $191

Now,

Let the amount invested at 4% interest be 'x'

the amount invested at 6% interest be 'y'

the amount invested at 7% interest be 'z'

Therefore,

According to the question:

x + y + z = $3,100     ...........(1)

z = 3x    ...............(2)

0.04x + 0.06y + 0.07z = $191 ...........(3)

From (1) and (2), we  have

x + y + 3x = $3,100

or

4x + y = $3,100

or

y = $3,100 - 4x         ,..........(4)

from  2, 3 and 4, we have

0.04x + 0.06( $3,100 - 4x ) + 0.07(3x) = $191

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⇒ 0.01x = 5

or

x = $500

thus,

from (2)

z = 3 × 500

or

z = $1,500

From (4)

y = $3,100 - 4(500)    

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y = $1,100

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Amanda invested

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the amount invested at 6% interest is $1,100

the amount invested at 7% interest is $1,500

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Elena L [17]
Last year's goods and services.

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