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777dan777 [17]
3 years ago
13

You are saving for retirement. To live​ comfortably, you decide you will need to save $ 1million by the time you are 65.Today is

your 29 th​birthday, and you​ decide, starting today and continuing on every birthday up to and including your 65 th​birthday, that you will put the same amount into a savings account. If the interest rate is 8 %​,how much must you set aside each year to make sure that you will have $ 1million in the account on your 65 th​birthday?
Business
1 answer:
kozerog [31]3 years ago
8 0

Answer:

Monthly pay= 5344.67

Explanation:

Giving the following information:

To live​ comfortably, you decide you will need to save $ 1million by the time you are 65.

Today is your 29th ​birthday, and you​ decide to put the same amount into a savings account. If the interest rate is 8%​.

How much must you set aside each year?

n= 36

i= 0.08

FV= 1,000,000

We need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

We need to isolate A (monthly pay):

<u>A= (FV*i)/[(1+i)^n-1]</u>

A= (1000000*0.08)/(1.08^36-1)

A= 80000/14.96817184

A= 5344.67

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<h3>What is Business process reengineering (BPR)?</h3>
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  • BPR seeks to assist firms in fundamentally rethinking how they do business in order to improve customer experience, reduce operational costs, and compete on a global scale.
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Complete question:

__________ is the analysis and redesign of workflow within and between enterprises.

Multiple Choice

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2 years ago
As a sales clerk for a national chain that sells outdoor gear, Joanna is at the lowest level in the organizational hierarchy. Ne
Allisa [31]

Answer: Decentralized structure

         

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In the given case, Joanna is the lower level managers but still contributes frequently in decision making.

Hence we can conclude that her organisation has decentralized structure.

4 0
3 years ago
At a sales volume of 30,000 units, Carne Company's total fixed costs are $30,000 and total variable costs are $45,000. The relev
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Answer:

$2.25

Explanation:

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total variable cost $45,000 for 30,000 unit

1 unit = 45000/30000 =  $ 1 . 5

for the sale of 40,000 unit

the  total expected cost

    = Fixed cost + Variable cost

      = $30,000 + 40,000×$1.50

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Cost per unit:

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Nike Inc is one of the world leading atheletic shoes manufacturer. The following activities occurs during the recent year: Purch
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5. No journal entry is required

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