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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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Andrews [41]

Answer:

The correct answer is A. Both Laura and Cassie are correct.

Explanation:

Since Laura says that the present value of $ 700 to be received one year from today if the interest rate is 6 percent is less than the present value of $ 700 to be received two years from today if the interest rate is 3 percent, and Cassie says that $ 700 saved for one year at 6 percent interest has a smaller future value than $ 700 saved for two years at 3 percent interest, to determine who is right, the following calculations must be performed:

700 x 1.06 = 742

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5 0
2 years ago
Which of the following events would cause a rightward shift of the AD curvea rightward shift of the AD curve​, other things bein
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Answer: C. There has been a decline in the foreign exchange value of the nation’s currency.

Explanation:

The Demand curve of a country can be written as an equation which is

C+I+G+(X-M)

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When ever consumption, investment, government expenditure or net exports increase the demand curve shifts to the right and whenever they decrease the demand curve shifts to the left.

In this case when the value of the currency foreign exchange declines, the country reduce its imports because they are now more expensive as your currency's value is declining and the exports will increase because they will now be cheaper to foreign buyers as their currency is now gotten stronger. This decrease in imports and increase in exports will  increase net exports and an increase in net exports will shift the demand curve to the right

8 0
3 years ago
Welfare economics is the study of a. taxes and subsidies. b. how technology is best put to use in the production of goods and se
const2013 [10]

Answer:

The answer is b) how technology is best used in the production of goods and services

Explanation:

The concept of welfare economics is used in the context of the Economy and public finances. It is defined as the branch of the economy that tries to determine the conditions that are needed to reach the maximum of social welfare. For this, the conditions are established to maximize production with a given amount of resources and optimization of the distribution of goods and services, analyzing the policies pursued in the achievement of goals that are considered desirable from the point of view of well-being.

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The name of the concept <em>which is illustrated</em> in this scenario about Jacob seeking deals that would <em>benefit his own interests more than the company </em>he is representing is known as:

  • B. Self dealing

According to the given question, we are asked to state the name of the concept <em>which is illustrated</em> in this scenario about Jacob seeking deals that would <em>benefit his own interests more than the company </em>he is representing.

As a result of this, we can see that Jacob is self dealing because he is acting in his own interests in order to get significant bonuses in addition to his salary.

Therefore, the correct answer is option B

Read more about self dealing here:

brainly.com/question/7212688

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2 years ago
What role does utility play in the economic model of consumer​ behavior? When modeling consumer​ behavior, utility A. reflects t
olya-2409 [2.1K]

Answer:

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