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aliya0001 [1]
3 years ago
13

1. Ira Schwab opens up a Schwab IRA and places $2,000 in his retirement account at the beginning of each year for 10 years. He b

elieves the account will earn 5 percent interest per year, compounded quarterly. How much will he have in his retirement account in 10 years?
Business
1 answer:
s2008m [1.1K]3 years ago
5 0

Answer:

He will have $102,979 in his retirement account in 10 years.

Explanation:

Annual Payment = $2,000

Number of Year = n = 10

Interest rate = i = 5%

Compounded Quarterly

Future value after 10 years

FV = A [ ( ( 1 + ( r / m )^mt ) - 1 / ( r / m )

FV = $2,000 [ ( ( 1 + ( 0.05 / 4 )^40 ) - 1 / ( 0.05 / 4 )

Future value = $102,979

So, Ira Schwab will have $102,979 in his retirement account in 10 years.

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Suppose French chocolate soufflé is an inferior good. When income increases and the number of producers in the market decreases
Vadim26 [7]

Answer:

d) The change to the equilibrium price of French chocolate souffle is ambiguous and the equilibrium quantity of French chocolate souffle falls

Explanation:

Inferior goods are those goods whose demand falls with the rise in the income of the consumer.

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With respect to the original equilibrium level, the demand curve shall experience a leftward shift i.e decrease whereas the supply curve too experiences a leftward shift i.e supply falls.

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What are the features of a corporation?
Fynjy0 [20]

Answer:

<em><u>Find below the features of a corporation</u></em>

An investor who purchases stock in a corporation becomes an  owner

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Explanation:

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I need help. Can someone explain to me how to graph and find this.
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